PLEDGES UNFULFILLED
While the agreement has the potential to redraw relations between the Global North and South, what exists now is akin to an empty bucket. The vessel has been hard fought for but so far, no one has committed to filling it up.
This will supposedly be thrashed out over coming months but there are clear divisions between the rich and poor that only grow deeper as past pledges unfulfilled.
China indicated openness to contributing to the fund, which could give momentum to the concept. The defrosting of its relationship with the United States in the midst of COP27 was an encouraging development for much needed cooperation.
And the re-emergence of Brazil as an active partner in the climate fight, following the election of Luiz Inacio Lula da Silva, will also provide hope for more progress in the coming year.
Asian leaders were mostly entirely absent from the conference – no ASEAN head of state made the trip; nor did heads of Japan, China, India or South Korea. The needs of Southeast Asian communities, especially for adaptation funding, are still outstanding.
Indonesia made strong progress on its land use agenda, and took concrete steps to wean off coal, following a new US$20 billion agreement with the US, Japan and private finance partners to help shift its economy to renewables.
Singapore too, while acknowledging the difficult circumstances surrounding COP27, and the multitude of global crises that impacted negotiations, used the period to strengthen partnerships and be an enabler of critical private sector climate investments.
“We reached as good an outcome as we can get given the circumstances,” Grace Fu, Minister for Sustainability and the Environment, told media as the summit closed.
For all the latest world News Click Here
