UN climate talks, COP27, extended to Saturday

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UN climate talks that were supposed to end Friday were extended by another day as negotiators seek to break a deadlock over creating a fund for nations hard hit by global warming impacts.

“Today we need to shift gears again, time is not on our side,” Egyptian Foreign Minister Sameh Shoukry, who chairs the COP27 talks, told delegates, adding: “I remain committed to bringing this conference to a close tomorrow in an orderly manner.”

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Germany’s Foreign Minister said the European Union was serious about delivering climate justice for poor countries suffering disastrous impacts of global warming, urging other major polluters to put up or shut up when it comes to providing financial support for those in need.

The 27-nation bloc made a surprise offer at this year’s UN climate talks late on Thursday to create a fund for ‘loss and damage’ payments to the most vulnerable nations, an idea long resisted by rich countries in Europe and the United States.

But the EU proposal would also require emerging economies such as China to contribute and ties any deal to tougher emissions cuts.

“We’re making clear that Europe is on the side of the most vulnerable states,” German Foreign Minister Annalena Baerbock said. “Others can now show which side they are on.”

“Spending money is not an end in itself, but it is about ensuring justice, about climate justice,” Baerbock said.

Baerbock acknowledged that industrialized countries who were mainly responsible for global warming up to now, should also pay for the damage and losses as a matter of priority.

But she warned that excluding major polluters and not also requiring them to cut their emissions would be a wrong incentive system.

Baerbock added that unless emissions are reduced more steeply, no money in the world could pay for the damages and losses of the future.

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