The Egyptian hosts of this year's climate summit, which kicked off Sunday, have prioritized action over new pledges. And that means coming up with money — billions and billions of dollars.
A vehicle drives near wind turbines at Lekela wind power station Oct. 12 near the Red Sea city of Ras Ghareb, some 186 miles from Cairo, Egypt. | Amr Nabil/AP PhotoThe biggest climate event of the year kicks off Sunday in Egypt as a raft of challenges threaten global efforts to tame rising temperatures.
The Egyptian hosts of the summit have prioritized action over new pledges. That suggests that tangible responses to climate impacts will be a pillar of the negotiations like never before. And that means coming up with money — billions and billions of dollars. But those frosty relations could have smaller consequences this year than at previous conferences. There will be fewer backroom negotiations between nations in Egypt, putting an emphasis on public speeches by world leaders early in the talks. And Xi Jinping, China’s leader, is not expected to attend., the likelihood of confrontations could be smaller, according to observers.
Developing countries will be expecting rich nations to outline how they’ll deliver on a pledge made last year in Glasgow, Scotland, to double support for adaptation. At the same time, the private sector has underinvested in developing countries and will be under pressure to deliver . “There’s a lot of headwinds, but there is still a lot that can be achieved. A lot of the channels are still open for dialogue here,” said Joe Thwaites, a climate finance advocate at the Natural Resources Defense Council.At the top of climate finance concerns are payments for irreparable losses and damages. Sometimes referred to as climate reparations, this money is aimed at addressing the harms caused to poor nations by emissions from rich countries.
Countries look close to agreeing on having a discussion around ways to finance payments for climate harms — though a dedicated fund to pay for climate damages is unlikely to be supported by the U.S. and Europe at these talks. But there are also divisions among African nations themselves, since most don’t have abundant fossil fuel resources but suffer from the climate impacts their use causes.
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