Euronews -The Briefing -10 November 2022

 

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At COP27, it’s ‘important’ to discuss climate reparations, Ursula von der Leyen tells Euronews By Euronews Brussels bureau COP27 is well underway in Sharm El-Sheikh, Egypt, and one big topic is dominating all headlines: climate finance. Long ago, the international community pledged to raise $100 billion per year to help low-income countries fund projects of climate mitigation and adaptation. The annual target has never been met. Now, a new hot-button topic is on the table: climate reparations. Climate reparations, also known as loss and damage, are the financial payments that the Global South demands from the Global North in order to compensate for the irreversible havoc wreaked by the climate crisis. The South argues it is disproportionately affected by extreme weather phenomena, like floods and droughts, despite its limited role in releasing greenhouse gas emissions. So, are wealthy nations ready to acknowledge their historical responsibility? “It is an important topic and I’m happy that it is an agenda item this time at COP27. It was never before,” European Commission President Ursula von der Leyen told Euronews during the summit. While the EU, as a bloc, has so far refused to set up a separate fund for loss and damage, some of its member states have broken ranks and made individual pledges: Denmark was the first to offer €13.4 million in climate reparations, back in September. This week, Belgium (€2.5M), Germany (€170M), Austria (€50M) and Ireland (€10M) followed suit. In her interview with Euronews, Ursula von der Leyen did not explicitly endorse the idea of establishing a separate facility but appeared willing to re-deploy existing financial sources. “Now it’s important to sit down and really to define and sort out what it is, and then to look at the funding that is available,” the Commission chief said, without using the term climate reparations, which has politically sensitive implications. “I'm not speaking about the $100 billion for climate finance. The European Union is also doing its fair share, with €23 billion (in 2021). But I'm speaking about other funds we have to look at.” Von der Leyen stressed the EU’s climate “credibility” and listed some examples that have made the bloc a world-class leader in climate legislation, including a recent decision to phase out the sale of new combustion engine cars by 2035. But these laws are focused on the EU’s own green transition and fail to address the permanent damage inflicted by Europe’s industrialisation in other parts of the world. A 2020 study published in The Lancet showed the EU and the UK have contributed to 29% of excess global carbon emissions since 1850, when burning fossil fuel became the norm. “I think that we need trust between the North and the South. And certainly, the subject of loss and damage is a legitimate one. We must be able to look each other in the eye and discuss it,” European Council President Charles Michel told us at COP27. “In the past, we have systematically made fine speeches, formulas that hit the nail on the head. That’s all very well but we must implement, we must achieve what we say,” he added, referring to past commitments, like the $100 billion annual target, that have not been fulfilled. Michel blasted Russia for launching the unprovoked invasion of Ukraine and disrupting global energy markets, sending bills to all-time record highs in all corners of the world. “This should not make us give up. On the contrary, it must make us redouble our efforts. We have to roll up our sleeves,” Michel told Euronews. “There is no country alone, even the most powerful militarily, even the most powerful economically, who can solve this challenge, which is the challenge of our generation.” GO DEEPER Euronews is at COP27. Our team of correspondents are on the ground following the crucial summit, day by day. Check out our special hub to get the latest developments.

WHAT ELSE IS GOING ON? THE FRONTLINE A big development this week: Russia ordered its troops to withdraw from the key city of Kherson, a move that analysts described as a humiliation for Vladimir Putin and a potential turning point in the war. Kyiv reacted cautiously to the announcement and said that until the Ukrainian flag flies again over Kherson, it makes “no sense” to talk about a Russian pull-out. Prior to this, the Moscow-installed deputy governor in the Kherson region had been killed in a “car crash,” according to Russian authorities. Meanwhile, President Zelenskky said his forces would not yield a “single centimetre” in Eastern Ukraine. And from Lyon, Sasha Vakulina explains how Russia might soon run out of missiles to attack Ukraine’s essential infrastructure. WHERE’S THE MONEY? The EU is facing criticism for its failure to deliver the entire €9-billion package of financial assistance that was promised to Ukraine back in May. So far, the bloc has only disbursed €3 billion, with another €2.5 billion expected later this month. What happened to the rest? Jorge Liboreiro exposes how the financial aid got stuck in negotiations. Brussels has pledged to make the money more predictable in 2023 with a new package worth up to €18 billion. Here’s how it will work. TURNING THE PAGE The EU appears ready to definitely close its austerity chapter: the European Commission has put on the table its proposal for a revised framework with greater flexibility. The much-criticised rule that imposed debt reduction at a 1/20th rate will be definitely ditched. Talks with member states now begin in earnest. “Of course, the famous devil is in the famous details,” EU Commissioner Paolo Gentiloni told Euronews. We have all the details. SHOPPING SCARE Inflation is soaring across the EU. But nowhere is the problem more acutely felt than in Estonia, with a brutal 22.4% rate in October. So, what’s it like for Estonians who have to balance their budgets, cope with fast-rising prices, and yet still somehow provide food, clothes and heat for their children? David Mac Dougall talked with two families to hear their stories.

PIPE DREAMS When France and Spain announced a deal to build an underwater gas pipeline from Barcelona to Marseille, the news focused on Europe’s security of supply and cross-border solidarity. But will the project live up to the expectations? Graham Keely spoke with energy experts and found a series of shortcomings that might undermine the French-Spanish ambitions.  COAL CRUSH Millions of Poles are still reliant on coal for their energy and heating needs. But a steady decline in the country’s production, the EU-wide embargo on Russian imports and surging inflation are fuelling anxiety ahead of the winter season, Julián Gómez reports in the latest episode of Euronews Witness. AMERICA’S CHOICE Our newsroom is keeping track of the US midterm elections as results continue to pour in. We have the main takeaways and the potential consequences for transatlantic relations.  TWITTER TURMOIL Ever since billionaire Elon Musk took over Twitter, the social platform has been in total disarray, with confusing announcements and baffling updates on a daily basis. Fearing the direction Twitter is taking under Musk, some users have flocked to Mastodon, a decentralised, open-source network that offers similar features. Euronews Next explains how Mastodon works. BEAT THE CROWDS If you long for quietness and relax, Euronews Travel explores the best secret islands in Europe. First up: Gozo, in Malta.

IT'S IN THE NUMBERS The cost of the energy crisis is becoming impossible to bear for Europeans: gas bills have soared 111%, while electricity bills have climbed 69% compared to one year ago, according to the Household Energy Price Index. Last month, average residential electricity prices across the EU reached €35.85 per kilowatt-hour, up from €19.19 in October 2021. Those living in Copenhagen received the costliest bills: €75.76 per kWh. Joshua Askew breaks down the numbers.

EDITOR'S CHOICE Chinese shopping spree of EU’s critical infrastructure raises stakes in geopolitical standoff

When the German government allowed a Chinese shipping group to buy a 25% stake in a terminal at Hamburg port, the backlash was fierce and instantaneous. Voices in Berlin, Brussels, Paris and Washington openly criticised the decision: at a time when the EU is coping with the effects of its dependency on Russia, deepening ties with yet another authoritarian regime seemed ill-judged and counterproductive. But the Hamburg deal is far from an isolated case. Today, Chinese companies own or have stakes in a wide range of European critical infrastructure, including airports, electricity companies, telecommunications and wind farms. But as EU-China relations deteriorate, these deals are perceived in a much different light. Alice Tidey examines how China can use this ownership to exert external pressure, raising the stakes of an already tense geopolitical standoff.

NO COMMENT A group of activists protested in front of the FIFA Museum in Zurich to press for the rights of the LGBTQ+ community ahead of the World Cup hosted by Qatar.

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