The first draft of a deal being hashed out at the COP27 climate summit in Egypt would keep a target of limiting global warming to 1.5 degrees Celsius but left many of the most contentious issues in the talks unresolved ahead of a Friday deadline.
Wealthy countries fear endless liability for climate damageDraft appears to soften language on fossil fuel subsidiesCOP27 climate summit
"Time is not on our side, let us come together now and deliver by Friday," COP27 President Sameh Shoukry said in a letter to delegates published on Thursday. "There's still a lot of gaps in the texts," said a spokesperson for Britain's COP26 Presidency, which hosted last year's climate summit in Glasgow. "They need to build on what has gone before.
It urges countries to "phase out and rationalize inefficient fossil fuel subsidies" - a slight tweak from the Glasgow deal which did not include the word "rationalize". Temperatures have already increased by 1.1C, and are projected to blow past 1.5C without swift and deep cuts to emissions within this decade.
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