COP27 climate talks in Egypt were in disarray Saturday after the European Union’s climate chief Frans Timmermans said the bloc is "prepared to walk away” if progress is not made on keeping alive the target of limiting global warming to 1.5 degrees Celsius by the end of the century.
Timmermans criticized the ambition shown by the Egyptian presidency of the talks in the seaside town of Sharm El-Sheikh, saying it failed to move the world closer to a key climate goal that will stop more extreme weather events from battering vulnerable countries. While a positive outcome was still within reach, Timmermans said there were concerns over the most controversial issue of these talks: the setting up of a dedicated loss and damage facility.
New draft decisions published Saturday afternoon would likely do little to alleviate the EU’s concerns, particularly when it came to having countries come back with new climate pledges. There was progress on loss and damage: the latest text establishes a fund within the context of other "funding arrangements,” something that South Africa, a key voice for developing countries, welcomed.
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