Shoukry: COP27 concluded with agreement on financing developing countries to face up to climate change

Foreign Minister and President of the UN Climate Change Conference, COP27, Sameh Shoukry said COP27 concluded with an agreement on financing developing countries to face up to the negative impacts of climate change.

During a press conference on Sunday 20/11/2022 following the wrapping up of the two-week COP27 climate summit, held at the Red Sea resort city of Sharm el-Sheikh, with the participation of 112 heads of state and government the foreign minister said, participants agreed on setting up a “loss and damage” fund to encounter key daunting related-climate challenges besetting world countries, especially developing nations.

Shoukry said the landmark agreement is a historical achievement that came to crown African countries 27-year-long demand for the move, thus attesting to the gathering’s success, as well as Egypt’s outstanding organization of the event.

According to the Egyptian foreign minister, COP27 is an action conference, that has taken on its shoulders since day one, and even during the event’s preparations to entrench the importance of moving toward accelerating global climate actions.

In the press conference, Foreign Minister Sameh Shoukry said COP27 discussions were objective, transparent and cohesive, adding that all parties took part in the gathering’s deliberations.

Sharm el-Sheikh’s Adaption Program is an ambitious plan that aimed at maintaining the average increase of the global temperature at under 1.5 degrees and further opens the door before government measures to take voluntary actions in emissions reduction strategies, said the foreign minister.

Coordination will continue unabated with the UAE within the current year until it is handed over the upcoming climate change conference presidency, through holding a number of activities to help press ahead toward dealing with climate challenges, he added.

Shoukry noted that developing countries are mostly bearing the brunt of climate changes, though being of least emissions.

He further accentuated the importance of providing resources technology and essential funding to enable developing countries face up to all climate change challenges, affirming commitment to continued support of all issues pertaining to climate changes for being essential for the entire globe.

Foreign Minister and President of the UN Climate Change Conference, COP27, Sameh Shoukry said COP27 has dealt with all floated deliberations brought ahead before the gathering in full transparency and objectivity, with a view to reaching a consensus that would help meet the aspirations and interests’ of participating delegations, adding that no one party could attain all its goals.

He also underlined the importance of all points agreed upon during the event.

The foreign minister said COP27 presidency has issued statements pertaining to topics brought forward for discussions during the conference, to ensure that all parties agree upon the floated points and that a consensus has been reached in this regard.

“When there are ambitions, other parties interests should be taken into consideration to ensure that any decision would not have a negative impact on development efforts,” Shoukry said.

Answering a question on whether some countries could backpedal on their pledges and previous commitments and on whether the world could make a progress on the climate issue, the foreign minister said no country stepped back, especially that it was made clear that any backtrack would not be accepted.

All parties agree upon the need for rallying efforts within a set framework for a legal world action, Shoukry said.

He further accentuated the need of extending necessary funding for developing countries to incorporate required assimilation of technological dimensions, without further increasing developing countries’ burdens.

The foreign minister voiced appreciation of the role of all civil society organizations, urging all parties not to let the chance slip out of their hand and to shoulder responsibility to help push forward a global drive in the face of all climate challenges.

Meantime, Shoukry thanked COP27 team and security bodies for all efforts that helped render the gathering of more than 66,000 participants a success.

Source: State Information Service Egypt