On 17th November 2022, the eleventh day of the COP27 at Sharm-el-Sheikh, it was Solutions Day at the conference. Hence, the day focused on innovations to amplify climate finance, finance approaches to protect against loss and damages and more.
The day also saw the COP27 Presidency
publishing the first draft of the Cover Decision, which runs into 20 pages.
The Cover Decision is a negotiated document
that summarizes the COP's principal conclusions, and will serve as the primary,
legally-binding record of the negotiations conducted during the COP.
The initial draught covers a range of
topics, including the need for about $4 trillion in renewable energy
investments year through 2030, together with investments in infrastructure and
technology, in order to reach net-zero emissions by 2050.
However, the draft was criticized for
having no decision on loss and damage and not mentioning the phase-out of all
fossil fuels.
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Technology is a useful servant, but a dangerous master, it was rightly said. Electronic devices have grown into an inevitable part of our daily lives.
