The Government of Cuba celebrated this Sunday the agreement reached at the XXVII United Nations Conference on Climate Change (COP27), in Egyptto create a fund for losses and damages derived from the global warming in especially vulnerable nations, an “achievement” for island and developing countries.
Cuban Foreign Minister Bruno Rodríguez indicated on Twitter that the agreement must now be detailed, especially in the financial sphere to “be effective.”
Creation of a fund to finance losses and damages due to adverse impact #climate change en achievement developing countries, including small island states, grouped into G77 and AOSIS. It must take the form of new, additional, predictable and adequate financial resources to be effective pic.twitter.com/1I40eT6KXy
— Bruno Rodríguez P (@BrunoRguezP) November 20, 2022
“The creation of the fund to finance losses and damages due to the adverse impact of the climate change it is an achievement for developing countries, including small island states, grouped in G77 and AOSIS”, two associations of countries, said Rodríguez, quoted by the agency efe.
Now, the minister continued, “the agreement must be finalized” in the field of “financial resources”, both new and additional.
For said fund to be “effective” it is necessary that financial flows be “predictable and adequate,” argued the Cuban foreign minister, following the line historically defended by developing countries, adds the newspaper.
In the plenary session of COP27 held in the early hours of this Sunday, the international community approved a new financing mechanism for reparations for damage caused by global warming in the most vulnerable countries.
The proposal, which still has many details to be outlined, supports the “mosaic solution” requested by the negotiating bloc of the European Union, among other countries, in response to the demand of developing countries and island states.
Cuba sent a delegation to COP27 headed by the head of the Ministry of Science, Technology and Environment, Elba Rosa Pérez.
Cuba calls to avoid “climate catastrophe” at the COP27 Climate Summit
During her speech at the conclave, the minister said that developed countries are responsible for climate change and must assume their commitments to the less developed ones, according to reports from the island’s official press.
“Cuba will support the efforts of developing countries to ensure the financial mechanisms required to deal with the losses and damages caused by climate change and better focus the debates on the definition of a new financial goal, based on the needs of the underdeveloped,” the official said.
Efe/OnCuba.
