First success at climate summit: industrialized countries give up financial blockade

The world climate summit in Egypt starts with low expectations.

First success at climate summit: industrialized countries give up financial blockade

The world climate summit in Egypt starts with low expectations. However, the organizers can already report a success on the first day, albeit a small one: the rich countries have declared their willingness to negotiate compensation for climate damage that has already occurred.

At the UN climate conference in Sharm el-Sheikh (COP27) on the opening day, a first success in one of the sticking points of the negotiations was announced. The conference plenary agreed that for the first time at COP27, grants should be negotiated as a separate item on the agenda, which have already appeared in poorer countries.

This shows "a sense of solidarity and compassion for the suffering of the victims of climate-related disasters," said COP27 President, Egyptian Foreign Minister Sameh Schukri, to delegates from more than 190 countries. At the same time, he emphasized that the negotiation point was not about "responsibility or compensation".

At the UN climate conferences, the fight against the causes of climate change and measures to adapt to global warming are in the foreground. The industrialized countries have already promised the developing countries regular financial aid for this, which was originally supposed to increase to 100 billion dollars (100.82 billion euros) annually by 2020.

For years, however, developing countries and small island states have pointed out that they are already feeling the effects of global warming more severely than rich industrialized countries. They are therefore calling for additional financial aid from the industrialized countries in this area. In the almost 30-year UN climate negotiations, however, no financing mechanism for this has yet been decided.

Environmental and development organizations refer to the polluter pays principle on the topic discussed under the buzzword "loss and damage". Although developed countries bear the brunt of the blame for global warming, poorer countries suffer the most from the consequences.

Fearing an obligation to pay infinitely high reparations, the industrialized countries, especially the USA, have blocked negotiations on financial aid for climate-related damage and losses in recent years. Now at least the view has prevailed that the increasingly urgent topic can no longer be ignored.

The climate expert of the aid organization Bread for the World, Sabine Minninger, welcomed the inclusion of the topic on the official negotiation agenda. "It's a very, very good start," she told the AFP news agency.