Countries negotiating at the climate summit in Egypt are on track to reject calls for phasing down the use of all 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. It also stuck with a commitment to keep global warming to 1.5 ºC. It highlighted that countries are currently falling well short on meeting the climate finance needs of developing countries.
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