COP27

2022 - 11 - 7

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Image courtesy of "Climate Home"

Cop27 bulletin: Welcome to Sharm el-Sheikh (Climate Home)

While delegates were greeted with hotel price-gouging on Sunday, vulnerable nations scored a win on the Cop27 agenda.

[set a floor price](https://www.climatechangenews.com/2022/02/24/activists-raise-inclusivity-concerns-for-cop27-as-egypt-hikes-hotel-prices/) of $500 a night for a five-star hotel and $120 a night for a two-star institution. Hot place to be – More than 38,000 delegates have registered to attend the blue zone at Cop27, according to UN Climate Change data. The government [denies this](https://www.climatechangenews.com/2022/09/14/egyptian-government-denies-cop27-hotel-price-gouging/). The UK is suffering more than European neighbours from high energy bills in part because of It relies on the host country enforcing social and environmental safeguards. The judgement will be based on the quality of the outcome,” UN Climate Change head Simon Stiell told a press conference on Sunday. There will be no talk of liability or compensation (a red line for wealthy nations) and countries agreed to conclude the process within two years. “You don’t want to evacuate people to a place where they could be swept away by a landslide,” he said. The controversial “climate club” could also get airtime. The real test will be the quality of the discussions. Cop27 Sameh Shoukry told the opening plenary that consultations went on for a marathon 48 hours before the start of the meeting. It opens the door for a substantive conversation on who should pay for climate damages and how.

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Image courtesy of "Bloomberg"

How Payouts for Climate Damage Fit Into COP27's Trillion-Dollar Fight (Bloomberg)

Money talk at COP27 points to a clearer framework for the different roles money plays in addressing the climate crisis.

“ [Loss and damage” is next frontier of compensation](https://www.bloomberg.com/graphics/2022-pakistan-floods-climate-change-loss-damage-cop27/) for disasters such as Pakistan’s floods. [mitigation and adaptation](https://www.bloomberg.com/opinion/articles/2022-11-02/climate-change-costs-are-eating-up-the-money-to-avert-it)” is supposed to come from a $100 billion pot of climate finance contributions from industrialized nations, agreed to more than a decade ago. Bringing together every country on the planet is in no small part a method of pressuring the wealthiest attendees to pay up.

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