'If all fossil fuels are not rapidly phased out, no amount of money will be able to cover the cost of the resulting loss and damage,' said YebSano of GreenpeaceSEA.
to the establishment of a loss and damage fund that aims to compensate low-income nations for the devastating effects of global warming. Through no fault of their own, the world's poorest people are most vulnerable to the deadly impacts of increasingly frequent and intense extreme weather caused primarily by wealthy polluters. A committee of 24 countries has one year to hammer out details, including which governments will contribute to the fund and which will benefit from it.
However,"COP27's key steps toward a loss and damage fund are deeply marred by the lack of progress on fossil fuels," said Collin Rees, U.S. campaign manager for Oil Change International."Despite unprecedented discussion of equitably phasing out oil, gas, and coal, the end result was yet another COP without formal recognition that Big Oil is driving the climate crisis and harming communities.
"The failure of leaders at COP27 to commit to an unqualified phase-out of oil, gas, and coal not only pushes 1.5ºC further out of reach, it also undermines progress on loss and damage," Nikki Reisch, director of climate and energy at the Center for International Environmental Law,on social media."The plain truth is that more fossil fuels equals more loss and damage. Remedy requires cessation of the harm.
"In settling for a copy-paste of the Glasgow Pact's incomplete and loophole-ridden language on a 'phasedown of unabated coal power' and 'phase-out of inefficient fossil fuel subsidies,'" Reisch continued,"governments at COP27 took a giant step backward.
Yeb Saño, executive director of Greenpeace Southeast Asia."When your bathtub is overflowing you turn off the taps, you don't wait awhile and then go out and buy a bigger mop."
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