COP27: Success of the climate summit in Egypt?

The world climate conference in Egypt has ended, during which representatives of over 200 countries made an important decision, but was it a breakthrough?

For the last 2 weeks in Sharm el-Sheikh, issues have been discussed on how to halt climate change, so that destructive and deadly droughts, floods, heatwaves, and other disasters do not become our everyday reality.

Whilst no agreement was reached on many issues, there was some success. It was decided that a common pot of money will be set up to compensate for those poorer countries who feel the effects of climate change the most.

The aim is to cushion the inevitable consequences of climate change and increasingly severe and frequent extreme weather events. It was said to be the biggest point of contention throughout the two-week conference in Sharm El Sheikh, which had to be extended by around 36 hours.

However, the necessary approval of the final declaration is still pending, and the resolution does not mention any sums for the new compensation fund, nor who exactly should pay in.

Manuel Pulgar-Vidal, WWF Global Climate and Energy Lead, and COP20 President said "The COP28 climate summit next year must be the COP of climate credibility. And countries must deliver.”