COP27 has opened amid growing calls for rich countries to compensate poorer nations most vulnerable to climate change
Diplomats approved a much-disputed agenda item to talk about matters relating to"funding arrangements responding to loss and damage associated with the adverse effects of climate change, including a focus on addressing loss and damage."
"COP27 must lay the foundations for much faster, bolder climate action now and in this crucial decade, when the global climate fight will be won or lost." The already daunting task of decarbonising the global economy in a few years has been made even harder by a global energy crunch and rapid inflation, along with debt and food crises across much of the developing world.
After front-line negotiators set COP27 in motion today, more than 120 world leaders will put in appearances tomorrow and Tuesday. Cooperation between the United States and China - the world's two largest economies and carbon polluters - has been crucial to rare breakthroughs in the nearly 30-year saga of UN climate talks, including the 2015 Paris Agreement.
One bright spot at COP27 will be the arrival of Brazilian president-elect Luiz Inacio Lula da Silva, whose campaign vowed to protect the Amazon and reverse the extractive policies of outgoing President Jair Bolsonaro.
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