Sharm el-Sheikh, Egypt, Nov 7, (dpa/GNA) – World leaders were gathering on Monday, in Egypt’s coastal resort of Sharm el-Sheikh, for a two-day climate summit, seen as a bid to provide much-needed political momentum, for efforts to curb global warming.
About 110 heads of state and government, including German Chancellor Olaf Scholz, are expected to attend.
The summit is being held a day after the start of a major UN climate conference, known as COP27, in the Red Sea resort.
Negotiators at COP27, are grappling with how global warming can still be contained, and how to mitigate the financial costs of climate change, mainly for vulnerable countries.
The goal is to limit warming to 1.5 degrees Celsius, as stated in the 2015 Paris agreement.
The climate events are being held, amid multiple global crises, surrounding food, energy and rising inflation, and expectations for major breakthroughs are seen to be low.
In the build-up to the conference, Egypt warned stakeholders against backtracking on previous promises.
In 2009, the developed countries pledged to provide $100 billion a year in finance by 2020, for climate protection in poor countries. The pledge remains largely unfulfilled.
GNA