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Minister Barbara Creecy says SA is encouoraged by COP27 draft outcomes

19 November 2022, 9:01 PM |

SABC | @SABCNews

Minister BarbaraCreecy met with the Minister of Climate Change in New Zealand, Mr James Shaw during a bilateral meeting at the at COP27 in Sharm El Sheikh, Egypt.

Image: @Environmentza

Minister BarbaraCreecy met with the Minister of Climate Change in New Zealand, Mr James Shaw during a bilateral meeting at the at COP27 in Sharm El Sheikh, Egypt.

South Africa has congratulated the Egyptian COP27 Presidency on the release of the draft outcomes text to the United Nations Framework Convention on Climate Change. It reflects the urgency of the climate crisis and the need to keep the one point five degree temperature increase target alive by providing a clear programme to advance the mitigation agenda from now to 2030.

It reflects the urgency of the climate crisis and the need to keep the 1.5-degree temperature target alive during what the IPCC calls the “Critical Decade”, including by providing a clear programme to advance the mitigation agenda from now to 2030.

— Environmentza (@environmentza) November 19, 2022

COP27 was extended to today amid tough debate about a number of issues including compensation for poor countries that have not caused climate change – but that are being devastated by the phenomenon. Environment Minister, Barbara Creecy says the draft text recognizes the urgency of finding a solution for developing countries who suffer loss and damage.

COP27 is providing critical momentum to reform the Multilateral Development Banks and International Financial Institutions and we expect the shareholders of these institutions to take decisive action to scale-up climate finance in 2023.

— Environmentza (@environmentza) November 19, 2022

“We are quite encouraged by the draft text that has come out. The draft commits to developing new financial arrangements for loss and damage. There will be the establishment of the transitional committee that will look at sources of funding. Will look at modalities and will also look at the questions of who will benefit and at what circumstances with the aim of establishing a fund at COP28”

This is an essential step towards implementation of the Adaptation Goal and we have agreed to focus on specific sectors, including: Health, poverty and livelihoods; Terrestrial and freshwater

— Environmentza (@environmentza) November 19, 2022