The COP27 Summit has been extended by an extra day as talks remain deadlocked over compensation for poorer countries being ravaged by the changing climate.
On Thursday, talks collapsed when parties could not agree on loss and damage funding. This, as nations agree that developing countries will experience the effects of climate change the most.
The European Union Commission has, for its part, announced a $1 billion fund for loss and damages.
Meanwhile, cabinet has endorsed the call by some delegates for developed countries to fund the fight against climate change at the COP27 Summit in Egypt. Minister in the Presidency, Mondli Gungubele briefed the media on the outcomes of the cabinet meeting held on Thursday.
Gungubele says, “Cabinet also endorsed the Africa Group position to call on developed countries to honour their pledges and commitments made under both the UN Framework Convention on Climate Change and its Paris Agreement. These include a call on developed countries to take the lead on reducing emissions and providing developing countries with financial resources for their own climate action.”
VIDEO: Minister Gungubele briefs media on outcomes of the 16 November Cabinet meeting: