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In eleventh hour COP27 pitch, EU proposes climate loss and damage fund

Corporate Knights

The European Union offer would include a commitment to immediately establish a new loss and damage response fund with details worked out over the next year as well as a commitment to examine debt and reform the mulitlateral development banks,” the news agency writes. China and Gulf states pushed back, while the U.S. kept quiet.”.

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At long last, Canada restricts oil and gas subsidies (except for all the loopholes)

Corporate Knights

On his way to COP 25 negotiations in Madrid in 2019, then-environment and climate minister Jonathan Wilkinson said Canadian LNG was “a long way from fitting into” an international carbon trading regime. Meanwhile, the cost of completing the project had skyrocketed from Houston-based Kinder Morgan’s original projection of $7.4

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COP27 litmus test: Will wealthy countries finally pay for climate change loss and damage?

Corporate Knights

If COP cannot deliver on its promise,” said Barbados Prime Minister Mia Amor Mottley, in the preface to a new report from The Loss and Damage Collaboration (L&DC), “40% of the world’s population and more will wonder what the point of it is.”. But climate justice campaigners are skeptical, writes Climate Change News.

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'Geopolitical hurricane' could snarl climate talks at COP27

Corporate Knights

Reparations for climate damage, international climate finance, the energy crisis and the geopolitical snarls caused by Russia’s war in Ukraine are taking their place as central issues as the clock winds down to the launch of this year’s United Nations climate summit, COP 27, in Sharm el-Sheikh, Egypt. But while the U.S.