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What happened at CoP 27 in Egypt

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Home Newsroom What happened at CoP 27 in Egypt
Author : mahindraadmin   Category : Business   Published : 1/5/2023

 

The main theme of CoP27 was the implementation of the Paris Agreement: “Together for Implementation”. On the agenda were, Mitigation, Climate Finance, Adaptation, Loss and Damage, and Global Stocktake

At Sharm-El-Sheikh Climate Change Conference (Conference of Parties) CoP 27 was convened from November 6th to November 20th 2022. Countries came together to take action towards achieving the world’s collective goals as agreed under Paris Agreement (CoP 21) and Convention. The United Nations Framework Convention on Climate Change (UNFCCC) established an international environmental treaty to combat "dangerous human interference with the climate system", in part by stabilizing greenhouse gas concentrations in the atmosphere. This is now signed by 198 countries. The supreme decision making body is the Conference of Parties.

 

 

One of the outcomes of CoP26 was the finalization of the “Paris Rulebook”. As a result, the main theme of CoP27 was the implementation of the Paris Agreement: “Together for Implementation”.

On the agenda of Cop 27 were Mitigation, Climate Finance, Adaptation, Loss and Damage, and Global Stocktake.

Good CoP:

  • For the first time in 30 years a Loss and Damage fund was established for vulnerable countries. Final success emerged on 20th November with the declaration of the same.
  • Adaptation assumed a significant factor in Just Transition discussion. At Cop 27 it was agreed by all that the world needs adaptation goals. This will be finalized in Cop 28. The Adaptation fund received new pledges to the tune of USD 230 million.
  • Setting up a quantified goal on climate finance was agreed upon.
  • Finance loomed large, with an acknowledgment that funding the global transition to a low-carbon economy would require "a transformation of the financial system and its structures and processes, engaging governments, central banks, commercial banks, institutional investors and other financial actors."
  • There was a growing focus on biodiversity and food systems, both in the official negotiations and in countless side events.
  • Youth and Children – Cop 27 for the first time featured a Pavillion for youth and children. With representation from all over the world this Pavillion was buzzing with activity and hope for a better world as was the strong message from the youth “We will hold you accountable”. The strong and articulate youth voices made it clear that they do not accept a world where they would lead a compromised life.
  • At its most basic, adaptation refers to a process or action that changes a living thing so that it is better able to survive in a new environment, whereas resilience describes the capacity or ability to anticipate and cope with shocks, and to recover from their impacts in a timely and efficient manner.
  • A USD 3.1 billion plan was announced by the UN Secretary General to ensure everyone on the planet is protected by early warning systems within the next five years

Bad Cop:

  • Mitigation action plan was not discussed or there was no major progress on how to get the countries on track for 1.5 degree limit.
  • Spent time at the Cryosphere Pavillion – the “Business as Usual” action is closing the window quickly. What is worrying is that hothouse earth is an entropic physical system which will not allow anyone or anything to survive. Its now a matter of time.
  • Over 600 delegates from oil and gas industry were present at CoP attempting to claw back any attempts on low carbon world. A call to phase down fossil fuels was scrubbed down from final text. This is worrying given that next CoP will be at oil rich Dubai

 

 

There was an unwritten acceptance that Climate Change is here and we need to adapt and account for loss and damage. What is important to understand that while this is a Climate Change conference it impacts our only home and all our lives. The interconnectedness of it all – finance, decarbonization, water, youth and children, gender, food, civil society (non-state actors), adaptation and agriculture, energy, science was clearly represented through thematic days at Cop27.

What can we do as Indians?

The India Pavillion showed our renewed commitment to our goals declared in Cop 26.

Life: Lifestyle of Environment was the key message and how each individual can help my moving away from mindless consumption to mindful and deliberate utilization. Government policies on low carbon living, sectoral intervention from buildings, EV, to energy efficiency and Renewable Energy. Its time to transform the way we live and in LIFE we have a strong way of “Making Sustainable Personal” thereby driving market transformation. Indians know how to lead low carbon lives through spiritual practices, conscious food, clothing and climate responsive homes. Its time to introspect over the strong message that India delivered in a subtle manner at CoP 27.

 

For more information on Tech Mahindra, please contact:

Abhilasha Gupta, Global Corporate Communications and Public Affairs
Email: [email protected]; [email protected]