Many hoped that the agreement would include a "phase-down of all fossil fuels" and not just coal, as proposed by India and backed by many developed and developing countries, including the EU nations and the US, but the final agreement did not essentially build on what was agreed upon in COP26 in Scotland.
Countries have been negotiating how to make international trading in carbon offsets work since the 2015 Paris Agreement, and the launch of the system is likely to be several years off as the debate continues into 2023.
Climate conferences such as COP27 make new promises, with little progress on the previous ones. But that should not stop India from rolling out a decarbonisation initiative
With 80 per cent of the population living in regions highly vulnerable to disasters such as severe flooding or heatwaves, adaptation is key to the country’s future.
For the first time, the worldwide demand for every type of fossil fuel will peak in the near future.
On Monday, a G7-led plan dubbed "Global Shield" to provide pre-arranged insurance and disaster protection funding to countries suffering climate disasters was launched at the climate conference.
Many developed countries, such as the United States, have opposed looking at finance for loss and damage as a ‘compensation’ for damages, and blocked negotiations on providing funds for it