Cop27: Pacific islands call for global tax to mitigate climate disasters

Jump to contentSign up to our newslettersSubscribeNewsSportsVoicesCultureLifestyleTravelPremiumSmall island nations suffering the brunt of climate change have called on Big Oil to pay for mounting damage from ocean storms and sea-level rise, Antigua’s prime minister told delegates at the COP27 climate summit in Egypt today.The comments by Gaston Browne kicked off the second day of speeches from heads of state and government at the two-week conference in the seaside resort town of Sharm el-Sheikh.’The oil and gas industry continues to earn almost 3 billion United States dollars daily in profits,’ Browne said, speaking on behalf of the Alliance of Small Island States.’It is about time that these companies are made to pay a global carbon tax on their profits as a source of funding for loss and damage. Profligate producers of fossil fuels have benefited from extortionate profits at the expense of human civilization. While they are profiting, the planet is burning.’The Polynesian island state of Tuvalu has joined Vanuatu to call for an international treaty to phase out the use of fossil fuels.1667909787The president of the Republic of Zimbabwe, Emmerson Dambudzo Mnangagwa, has just witnessed the signing of the Skypower Global Master Agreement Adendum at the Zimbabwean pavilion at Sharm el-Sheikh, the Herald Zimbabwe reports. The Skypower agreement will see a 500 megawatt solar plant set up in the country. Maryam Zakir-Hussain8 November 2022 12:161667908875Germany’s climate envoy Jennifer Morgan says the talks in Egypt ‘have kicked off quite well’ after a potential fight over the agenda was averted when countries agreed to formally debate the issue of financial support to poor nations for the loss and damage they suffer due to global warming. Morgan said Tuesday that she hopes there will be a ‘meaningful outcome’ on the issue at the two-week talks as well as countries setting out more ambitious targets for cutting emissions and agreeing ways to ensure money flowing toward combating global warming is in line with the targets of the 2015 Paris accord. ‘The most vulnerable families (should) know that we stand side by side with them and that there will be more support just there for them when these damages occur,’ she told The Associated Press. ‘How that will look exactly, that’s the negotiation here.’ Asked about the possible impact of the U.S. midterm election on the talks, Morgan said that individual votes ‘can’t change the fact that we’re in a climate emergency.’ The Biden administration’s recent climate law had given the United States ‘a higher level of standing’ internationally, she said.Maryam Zakir-Hussain8 November 2022 12:011667907298The Polynesian island state of Tuvalu has joined Vanuatu to call for an international treaty to phase out the use of fossil fuels.’The warming seas are starting to swallow our lands – inch by inch,’ said Prime Minister of Tuvalu, Kausea Natano, on a call to the UN summit. ‘But the world’s addiction to oil, gas and coal can’t sink our dreams under the waves.’Tuvalu is the first nation at Cop27 and only the second country in the world to call for what is formally known as the fossil fuel non-proliferation treaty. It follows Vanuatu, the Pacific island state, that called for a treaty at the United Nations General Assembly in New York in September.Our climate correspondent Saphora Smith in Sharm el-Sheikh reports:The proposal follows in the footsteps of other similar initiatives to manage threats including nuclear weapons and landminesMaryam Zakir-Hussain8 November 2022 11:341667906995Speaking at Cop27 in Egypt, the president of Ghana, Nana Akufo-Addo, said: ‘With her vast land, Africa has the greatest potential to help decarbonise the world by absorbing carbon dioxide through regenerative agriculture that requires less fertiliser and reforestation with strong biodiversity content.’My government is proud to announce that Ghana will launch projects in these areas, which will tackle at the same time climate change on global and domestic levels and social issues by providing people with dignified and sustainable jobs.’I am also proud to announce that Ghana has launched her energy transition framework and is co-chair of the Forest and Climate Leaders Partnership with the United States.’Maryam Zakir-Hussain8 November 2022 11:291667906127Israel and Jordan on Tuesday signed a memorandum of understanding (MOU) to move ahead with a water-for-energy deal after an initial examination of the project proved it to be feasible. The idea, first announced a year ago, is for Jordan to build 600 megawatts of solar generating capacity that would be exported to Israel. In return, Israel would provide water-scarce Jordan with 200 million cubic metres of desalinated water. Jordan and Israel sign a MOU for a water-for-energy deal The MOU was signed at the COP27 climate summit in Egypt at an event hosted by the United Arab Emirates, who in 2020 became the first Gulf state to normalise relations with Israel and has been a partner in the project. The Middle East is highly vulnerable to climate change and this will be the first such cooperation between the countries.Maryam Zakir-Hussain8 November 2022 11:151667905227The family of British-Egyptian prisoner Alaa Abd El-Fatteh has urged Rishi Sunak not to return from Cop27 without a British official providing ‘proof of life,’ as the activist enters the second day of his water strike which risks his survival.The activist’s aunt Ahdaf Soueif said the family fears the British government will be ‘fobbed off’ by Egypt following confirmation Rishi Sunak had raised the case with president Abdel Fattah El-Sisi.The family have primarily urged for Mr El-Fatteh’s release but have also called for him to be allowed consular visits while in prison, writes Thomas Kingsley.Alaa Abd El-Fatteh aunt said she fears the British government will be ‘fobbed off’ by Egypt Maryam Zakir-Hussain8 November 2022 11:001667904327International leaders and special envoys speak on the second day of the climate summit in Sharm el-Sheikh.John Kerry, US Special Envoy for Climate speaks as he attends the opening of the American Pavilion in the COP27 climate summit in Egypt’s Red Sea resort of Sharm el-SheikhMichael Bloomberg, businessman and former mayor of New York city, speaks at the US pavilion South Africa’s president Cyril Ramaphosa delivers a speech at the leaders summit of the COP27 climate conference Maryam Zakir-Hussain8 November 2022 10:451667903427Small island nations suffering the brunt of climate change want Big Oil to pay for mounting damage from ocean storms and sea-level rise, Antigua’s prime minister told delegates at the COP27 climate summit in Egypt on Tuesday.The comments by Gaston Browne kicked off the second day of speeches from heads of state and government at the two-week conference in the seaside resort town of Sharm el-Sheikh.’The oil and gas industry continues to earn almost 3 billion United States dollars daily in profits,’ Browne said, speaking on behalf of the Alliance of Small Island States.’It is about time that these companies are made to pay a global carbon tax on their profits as a source of funding for loss and damage. Profligate producers of fossil fuels have benefited from extortionate profits at the expense of human civilization. While they are profiting, the planet is burning.’Senegal’s President Macky Sall told the conference poor developing nations in Africa were also insisting on increased funding for adaptation to worsening climate change, and would resist calls for an immediate shift away from fossil fuels that could drive economic growth.’Let’s be clear, we are in favor of reduction of greenhouse gas emissions. But we Africans cannot accept that our vital interests be ignored,’ he said.Maryam Zakir-Hussain8 November 2022 10:301667902527World leaders are set to gather for a series of closed-door meetings from today, 8 November, as Cop27 enters its second full day.This year’s conference is in Sharm El-Sheikh, Egypt, following 2021’s Cop26 in Glasgow.On Tuesday, leaders of climate-vulnerable countries will advocate for measures to compensate for damage already being wrought by global warming.Speakers will include Pakistan’s prime minister Shehbaz Sharif, whose country was recently hit by devastating floods, and representatives from the small island nations of Tuvalu, and Antigua and Barbuda.World leaders are set to gather for a series of closed-door meetings from today, 8 November, as Cop27 enters its second full day. This year’s conference is in Sharm El-Sheikh, Egypt, following 2021’s Cop26 in Glasgow. On Tuesday, leaders of climate-vulnerable countries will advocate for measures to compensate for damage already being wrought by global warming. Speakers will include Pakistan’s prime minister Shehbaz Sharif, whose country was recently hit by devastating floods, and representatives from the small island nations of Tuvalu, and Antigua and Barbuda. Sign up to our newsletters. Maryam Zakir-Hussain8 November 2022 10:151667901627’Fundamental reform’ of development banks?High-level voices have called for an overhaul of international financial institutions. At the annual World Bank meetings last month, the United States and Germany called for ‘a fundamental reform’ of the bank to respond to challenges including climate change on a global scale, rather than country by country.Some reformers are asking for more grants and concessional loans that would prevent lower- and middle-income countries from having to pay high interest rates.US special envoy John Kerry said in a speech last month that reforms would be crucial to ‘address the crisis of this moment,’ and that there were proposals that could ‘unlock several hundred billion dollars in additional MDB [multinational development bank] lending capacity without requiring new shareholder capital’ and without risking credit rating downgrades.Maryam Zakir-Hussain8 November 2022 10:00Registration is a free and easy way to support our truly independent journalismBy registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalistsAlready have an account? sign inRegistration is a free and easy way to support our truly independent journalismBy registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalistsAlready have an account? sign inCop27UNEgyptSharm el-SheikhPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in