COP27 Goes Overtime As Negotiators Scramble For Deal
Union Environment Minister Bhupender Yadav said that COP27 was presumed to wrap up on Friday but has been extended by a day to break the deadlock over crucial topics, including mitigation work programme, loss and damage, and climate finance.
Through a blog post, Yadav said many issues, including the mitigation work program, the global goal on adaptation, loss and damage, and climate finance, are being intervened as they persisted as controversial.
The EU's chief diplomat Frans Timmermans recommended a proposal that linked loss and damage with emission cuts.
The EU proposal has demanded the nation to peak emissions before 2025 and cut down all fossil fuel usage, majorly coal, in return for the fund exchange.
The discussion further included that developing countries like China need not pay funds as they have a broader fund base.
A draft has been publicised by the UN Framework Convention on Climate Change to deal with the issues.
