The world is making progress on climate, despite the COP27 doomsayers
The European Union, dealing with energy shortages as directly as anywhere, offers the best example.
If they couldn’t fulfill that promise, there are slim chances of a new one around loss-and-damages funding. That’s a form of reparations that countries particularly vulnerable to climate-related natural disasters want high on COP27′s agenda, in recognition that they’ve historically contributed minimal emissions, reaped limited benefits from the fossil-fuel economy, and now have to suffer massive human and infrastructure costs.
Negotiations at these conferences operate on a consensus model, which requires near unanimity for anything to get through. While that’s produced the occasional landmark deal , it’s never been a recipe for easy success. Realistically, COP’s formal negotiations are probably not the vehicle for that sort of multilateralism. And other options, bringing together groups of countries rather than the entire world at once, have started to emerge., which would try to align carbon pricing or other policies for large-emitting sectors in major economies. It’s also trying to bring together the G7 and the V20 in a new insurance-based disaster-response program called the Global Shield.
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