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People protest against fossil fuel funding during COP27 in  Sharm el-Sheikh, Egypt.
© UN News/Laura Quinones

Dirty fossil fuel investments and a new AI inventory of global emissions in the spotlight during ‘Finance Day’ at COP27

The first of the ‘thematic’ days kicked off on Wednesday at COP27, focused on finance, and activists made it clear right from the start that there must be a global push to re-direct the hundreds of billions of dollars invested annually in fossil fuels to help fund community-led renewable energy initiatives.

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20'9"
A video screen in the main COP27 plenary room displays the official slogan of the Egyptian Presidency: ‘Together for Implementation’.
Kiara Worth

‘Cooperate or perish’: At COP27 UN chief calls for Climate Solidarity Pact, urges tax on oil companies to finance loss and damage

At the opening of the two-day Climate Implementation Summit at COP27 in Sharm el-Sheikh, Egypt, António Guterres called for a historic pact between developed and developing countries to combine capacities, and pivot the world towards reducing carbon emissions, transforming energy systems and avoiding a climate catastrophe.

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