The United Nations Climate Change Conference COP27 closed today with a breakthrough agreement to provide "loss and damage" funding for vulnerable countries hit hard by climate disasters.
In his remarks at the closing plenary of the United Nations Climate Change Conference or COP27 in Sharm El-Sheikh, Yadav stated that India welcomes the efforts to address climate change.
COP 27 President Sameh Shoukry said, "I invite the CMA to adopt the draft decision of title funding arrangements for responding to loss and damage associated with the adverse effects of climate change, including the focus on addressing loss and damage."
Signalling potential for major breakthrough at the climate summit, Negotiators at the UN's COP27 climate summit have reached a tentative agreement to establish a loss and damage fund for nations vulnerable to climate disasters.
The UN chief asked nations countries to deliver the kind of meaningful action that people and the planet desperately need. "The world is watching and has a simple message: stand and deliver," he underscored. Guterres reminded world leaders that global emissions are at their highest levels in history, and climate impacts are decimating economies and societies.
Sharm el-Sheikh [Egypt], November 16 (ANI/NewsVoir): Highlighting the growing consensus on oceans being critical to climate negotiations, a new policy brief from The Energy and Resources Institute (TERI) launched at an United Nations Framework for Climate Change Convention (UNFCCC) official side event at COP27 in Sharm el-Sheikh on Wednesday, put forth the need for definite goals and indicators, along with institutional and enforcement mechanisms to steer ocean-climate action.
In a statement, the UNEP said, the Technology Executive Committee (TEC) and Climate Technology Centre and Network (CTCN) - the two bodies of the Technology Mechanism under the UNFCCC and Paris Agreement - launched their joint work programme to accelerate the deployment of transformative climate technologies that are urgently required to tackle climate change.
The report highlighted how climate change impacts are wreaking an ever-increasing human, financial and environmental toll, worsening food insecurity and poverty and holding back sustainable development. The report also painted a worrying scenario for future water stress.
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