A senior lawmaker is “cautiously optimistic” on recent commitment by the world’s largest polluters at the just-concluded global warming forum in Egypt of hefty financial aid for developing nations like the Philippines.
A senior lawmaker is “cautiously optimistic” on recent commitment by the world’s largest polluters at the just-concluded global warming forum in Egypt of hefty financial aid for developing nations like the Philippines that have done little to cause planet heating and yet are bearing the brunt of climate upheavals caused by rising world temperatures.
Worse, he said, “there was no concrete steps included in the final COP27 accord passed last weekend to hit the target in the Paris Climate Accords of 2015 [Paris Agreement] of making the world’s economy carbon-neutral by 2050 by limiting global warming to 1.5 degrees Celsius of the pre-industrialization levels, in order to prevent the worst of climate change from happening in the decades ahead.”
Villafuerte, who is also president of the National Unity Party , was referring to the 27th United Nations Climate Change Conference that took place from November 6 to 18 in the Egyptian city of Sharm El Sheik, and, which, he said, was capped by the initiative of the world’s affluent states to put up a new climate loss and damage fund as some sort of repatriation to poorer economies now wracked by worsening climate hazards like storm surges, flash floods, landslides and droughts.
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