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 1.5 degree temperature increase target alive by providing a clear programme to advance the mitigation agenda from now to 2030.
COP27 was extended to Saturday 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.
Environmental Affairs Minister Barbara Creecy says the draft text recognizes the urgency of finding a solution for developing countries that suffer loss and damage.
“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 a 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 under what circumstances with the aim of establishing a fund at COP28,” says Creecy.
COP27 Summit | Outcomes of the Climate Change conference as it closes: Sophie Mokoena
MEDIA STATEMENT: South Africa congratulates the Egyptian COP27 Presidency on the release of the draft outcomes text to the UNFCCC’s Sharm el-Sheikh Conference of Parties (COP 27)
— Environmentza (@environmentza) November 19, 2022
