The European Union announced on Monday its position on the United Nations Climate Summit “COP 27” by calling for “ambitious goals”, without going into the details of the financial aid allocated to developing countries to compensate them for the damage of global warming.
The 27th bloc of nations has acknowledged that “global ambition must be boosted very significantly” in order to not ignore the Paris Agreement’s objectives of slowing the rise in global temperatures.
Before the yearly climate summit, which will be place in Sharm El-Sheikh the following month, the proclamation urged the nations to “advance with ambitious targets.”
After conversations between them to finalise its climate strategy, he noted, the European Union is prepared to update the contributions of the member states “as soon as feasible.”
By 2030, the strategy seeks to cut greenhouse gas emissions in European Union nations by 55% from 1990 levels.
The text that was endorsed by the environmental ministers of the European Union during a conference in Luxembourg urged all parties to permanently eliminate the use of coal “by gradually lowering.”
The advertising remained circumspect about how much money must be given to underdeveloped nations, though.
However, the main topic during the “27th Conference of the Parties of the United Nations Climate Change Convention” will be how to pay for “losses and damages” brought on by the effects of global warming.
” The rich countries have not yet respected their commitment to providing at least 100 billion dollars annually of climate aid, a goal that was initially defined for 2020, in order to help poor countries reduce their emissions and adapt to them.
Without offering any updated figures, the release indicated that “the target will be accomplished in 2023” for the European Union countries.
The compensation for losses and damage is a “tough topic,” according to the Czech Republic’s Environment Minister Anna Hobacova, who also indicated that “We are ready to discuss” potential circumstances.
Before COP27, the European Union demanded this.
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