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COP27 Set for Showdown After Draft Leaves Out Fossil Fuel Pledge

  • Nations set to acknowledge impact of energy crisis on climate
  • Multilateral development banks called on to provide more money
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Climate negotiators are on track to reject a proposal for a more sweeping plan to phase down fossil fuels, snuffing efforts by India and key developed nations to target oil and gas as well as coal in an overarching deal at COP27.

The Egyptian presidency published the first draft of its so-called “cover decision” and largely kept last year’s pledge made at Glasgow to “accelerate measures towards the phase down of unabated coal power” and phase out fossil fuel subsidies.