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Egypt's Foreign Minister Samih Zhukri (l) speaks during the closing ceremony at the COP27 climate summit in Sharm el-Sheikh.
What We’re Watching: Climate comp fund, Malaysian coalition building
COP27 delivers on reparations but fails on fossil fuels
Two days behind schedule, the COP27 climate summit in Sharm el-Sheikh, Egypt, finally wrapped up with a historic agreement on Sunday. Wealthy countries will pay poor nations for the economic damage caused by climate change. The so-called "loss and damage fund" will compensate the developing world for impacts like droughts and flooding, which rich nations led by the US had resisted for 30 years. But so far it's only a political statement of intentions with no financial commitment, so it'll be up to future COPs to work out the details. What's more, climate activists' joy over the much-awaited reparations deal was overshadowed by a lack of progress in cutting fossil fuels. Efforts to include stronger language on phasing out oil and natural gas on top of coal were rebuffed by top fossil fuel producers as well as by major guzzlers in the developing world who won't jeopardize their economic growth to embrace renewables. In other words, a victory for climate justice but a painful defeat for clean energy at a COP where expectations were low.
Get more COP27 insights from Eurasia Group analyst Franck Gbaguidi on our Instagram and YouTube channels.
Nationalist bloc might take power in Malaysia
As expected, Malaysia's general election on Saturday delivered a hung parliament without a clear winner. But there were plenty of losers. The opposition multiethnic alliance led by former PM Anwar Ibrahim won the most seats (80) but fell far short of a majority in the 222-member parliament, while the once-dominant UMNO party got its worst result ever with only 30. And perhaps the biggest upset was 97-year-old ex-PM Mahathir Mohamad losing his seat — his first election defeat in 53 years. Meanwhile, a Malay-first alliance captained by Muhyiddin Yassin, yet another former PM, overperformed with 73 seats. Muhyiddin is now favored to return to the premiership after clinching the support of two regional parties from Borneo and is wooing UMNO, but Anwar says he should have a go first. Who'll make the call? The current king under Malaysia’s unique rotating monarchy, who has the constitutional power to appoint the next PM and wants a name by Monday.
Perak's sultan to meet with Bersatu, PAS leaders in bid to resolve political impasse
KUALA LUMPUR - Leaders of two parties in Malaysia's Perikatan Nasional (PN) alliance in Perak were scheduled on Tuesday (Dec 8) to meet the state's ruler in a bid to resolve a political impasse caused by the ouster of the state's menteri besar last week.
Muhyiddin says polls will be called once pandemic is over
KUALA LUMPUR • Malaysia's Prime Minister Muhyiddin Yassin said yesterday he would call for a general election once the coronavirus pandemic is over. He noted the "difficult and challenging situation" faced by his Perikatan Nasional (PN) government which has a slim majority in Parliament, as it is often buffeted by issues raised by the opposition and PN's ally Umno.
Malaysia's PM Muhyiddin says to call for general election once pandemic is 'over'
KUALA LUMPUR - Malaysia's Prime Minister Muhyiddin Yassin said on Saturday (Nov 28) that he will call for a general election once the coronavirus pandemic was over.
Xi touts China as pivot point for global free trade
KUALA LUMPUR • President Xi Jinping touted China as the pivot point for global free trade yesterday, vowing to keep its "super-sized" economy open for business and warning against protectionism as the world battles the coronavirus pandemic.
Asian Insider Malaysian King's consent to delay by-election puts Muhyiddin on safe ground - for now
Prime Minister Muhyiddin Yassin and his slim-majority government are back on safe ground for now, after Malaysia's King on Wednesday consented to an emergency declaration that effectively postponed a by-election, amid the country's worst wave of coronavirus infections.
Umno leader mulls bringing in opposition parties into govt to stabilise Malaysian politics
KUALA LUMPUR - A top leader of Malaysia's ruling coalition Umno has proposed a "grand coalition" including current opposition parties, to rule the country together as a means to bring stability to the country's politics.
Muhyiddin's bid for strong mandate falls prey to Covid-19
Prime Minister Muhyiddin Yassin may have to wait a year to call polls that are needed to end Malaysia's roiling political uncertainty, which has dogged him since he took power in March.