COP27 underway in Egypt

World leaders are gathering in Sharm el-Sheikh, Egypt for another round of UN climate change discussions and agreements.

My own opinion is not much of significance will come out of this meeting. Many Europeans are worried about getting enough natural gas this winter, and gasoline (petrol) prices are still higher than most people are happy with. The desire to wean industrial countries off fossil fuels is pretty weak right now. Just my opinion.

  • Pete
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Wouldn’t shortages and high prices increase the desire to get off fossil fuels?

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It’s good to hear that climate change is getting some attention.

What are the penalties for failure to comply with agreed goals? Seems toothless. Lots of talk but not much follow-through. Reward is mostly public opinion.

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The main brouhaha this time around will be the issue of payments. Developing countries want mucho dinero from developed countries for ‘loss and damage’. Loss is for things supposedly destroyed by climate change that can’t be replaced, and damage is for things that can be fixed. The numbers run from many billions to trillions of dollars every year. Nice work if you can get it.



" A trillion dollars should come from rich countries, investors and multilateral development banks, said the analysis commissioned by Britain and Egypt, hosts respectively of the 2021 UN climate summit in Glasgow and this week’s COP27 event in Sharm el-Sheikh.

“The rest of the money—about $1.4 trillion—must originate domestically from private and public sources, said the report.”