| Business groups have sounded the alarm that this year’s climate summit could water down the world’s commitment to keep global warming below the potential catastrophe threshold of 1.5 degrees Celsius.
“It is a substantive issue … We have some thoughts as to how to address the semantic aspects of that. We cannot afford not to go further and further and further.” The business leaders’ statement said there could be “no excuse for backsliding” in the deal emerging from COP27.“It is difficult enough to converge on one direction. But at least we have one common vision, one common goal: 1.5 degrees,” said Feike Sijbesma, chairman of the supervisory board of Royal Philips, as the statement was provided to journalists.
But this year’s emphasis on dealing with the consequences of climate change, rather than its prevention, could be interpreted as a de facto concession that the fight to stay within 1.5 degrees is already lost. The Egyptian-hosted COP27 is supposed to focus on implementation – whether, how and to what extent countries are meeting the big pledges made at Glasgow.for a formal “facility”, or funding vehicle, for addressing the loss and damage suffered in poor and vulnerable communities.D issue on the table, but Mr Kerry was clear that this did not mean his country had agreed to a facility.