COP27 agrees to set up fund to compensate climate damages
The Times of India Hyderabad|November 21, 2022
But No Pact On 'Phasing Down' Fossil Fuels
Vishwa.Mohan @timesgroup.com
COP27 agrees to set up fund to compensate climate damages

Showing remarkable politi-cal will, over 195 countries on Sunday agreed at the conclusion of the COP27 climate talks at Sharm el-Sheikh, Egypt, to set up a “loss and damage fund” for supporting poor vulnerable countries that are victims of extreme weather, worsened by cumulative emissions of rich nations.

However, they could not agree to “phase down” all fossil fuels even as India and most EU nations wanted it included in the final COP27 decision to keep the 1.5-degree C goal alive to limit global warming. The issue of “loss and damage” found place in the agenda for the first time and the task of setting up a new fund looked difficult but the rich countries, including EU and the US, showed flexibility to make it happen.

They argued that the fund’s donor base should also be big economies like China and the beneficiaries must include only poor vulnerable countries. The points of donor base and beneficiaries will, however, be clarified by next year as big economies like India and China have not been in favour of being mandatory contributors to the fund. From India’s point of view, inclusion of “transition to sustainable lifestyles and sustainable patterns of consumption and production” in the COP27 cover decision is the big takeaway as the country has long been pitching for a paradigm shift from mindless and destructive consumption (in rich nations) to mindful and deliberate utilisation of resources to combat climate change.

Denne historien er fra November 21, 2022-utgaven av The Times of India Hyderabad.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra November 21, 2022-utgaven av The Times of India Hyderabad.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA THE TIMES OF INDIA HYDERABADSe alt
Tollywood was happy hunting turf for conman
The Times of India Hyderabad

Tollywood was happy hunting turf for conman

Kept Database Of Mobile Nos. Of Film Celebs

time-read
1 min  |
November 28, 2022
State-funded Metro to chug into RGIA in 3 yrs
The Times of India Hyderabad

State-funded Metro to chug into RGIA in 3 yrs

Residents’ Plea To KTR To Extend Other Rail Lines

time-read
1 min  |
November 28, 2022
Rajiv Makhni becomes the face of smart tech luggage with proximity indicator
The Times of India Hyderabad

Rajiv Makhni becomes the face of smart tech luggage with proximity indicator

The VIP SmarTech series, a range of smart travel gear, keeps you connected with your luggage via your smartphone

time-read
2 mins  |
November 28, 2022
I want to reach out to Samantha and tell her that if I can make it, so can you, says Vikram Bhatt
The Times of India Hyderabad

I want to reach out to Samantha and tell her that if I can make it, so can you, says Vikram Bhatt

The filmmaker opens up about his 18-year-long battle with fibromyalgia, a chronic disorder that causes widespread muscle pain

time-read
2 mins  |
November 28, 2022
Rain ruins second ODI
The Times of India Hyderabad

Rain ruins second ODI

The match was reduced to 29-overs-a-side as the first interruption caused a four-hour break. India were 22 for no loss in the fifth over at that time.

time-read
1 min  |
November 28, 2022
Croatia come in hard, show Canada the exit
The Times of India Hyderabad

Croatia come in hard, show Canada the exit

After their dour opening draw with Morocco had instigated a post-mortem into whether this Croatia side lacked a killer instinct, Kramaric and Marko Livaja found the net before the break to take the wind out of Canada’s sails.

time-read
2 mins  |
November 28, 2022
Denmark calls on Euro 2020, Eriksen experience
The Times of India Hyderabad

Denmark calls on Euro 2020, Eriksen experience

Denmark has been here before.

time-read
1 min  |
November 28, 2022
Ronaldo targets KO berth
The Times of India Hyderabad

Ronaldo targets KO berth

Win Vs Uruguay Will Help Portugal Advance With A Game To Spare

time-read
2 mins  |
November 28, 2022
Govt doubles large aircraft wet lease period to 1 yr
The Times of India Hyderabad

Govt doubles large aircraft wet lease period to 1 yr

Accordingly, IndiGo can now wet lease two twin aisles to operate flights between Delhi/Mumbai and Istanbul for a year.

time-read
1 min  |
November 28, 2022
Deuba's party emerges as single largest party in poll
The Times of India Hyderabad

Deuba's party emerges as single largest party in poll

Elections to the House of Representatives and seven provincial assemblies were held on November 20.

time-read
1 min  |
November 28, 2022