Two weeks of interim climate negotiations come to an end and with them, arguably, a middle era between COP26 and what the world will be like in November between conflicts in Europe, elections in Brazil and mid-term elections in the United States. All leading up to a COP27 that now, with less than five months to go before the whistle blows, is shaping up to be -whatever the outcomes of the aforementioned dynamics -the world premiere of a certainly unprecedented geopolitical scenario.
The first technical assessment session of the Global Stocktake (GST) of greenhouse gas emissions concluded yesterday at the UN Interim Climate Negotiations. The GST is the process under Article 14 of the Paris Agreement for the five-yearly review of the commitments made by nations party to the agreement to reduce their climate-changing emissions. During these two weeks, negotiators have been meeting together with members of civil society, including scientists and experts called upon to support the assessment of the emissions data collected so far with presentations and technical opinions on their areas of expertise.
There seems to have been no progress in finding common solutions between the conventionally defined countries of the global south and north, visions diverge profoundly, and the discussion so far has been dominated by insurance approaches to the problem. The difficulty in managing the losses and damages caused by climate change impacts with funds that should be distributed as needed with an insurance system stem from the very nature of insurance contracts, which are based on the likelihood of something happening or not happening, not allowing for insurance of something that has already happened or has already been damaged.