What can we expect from COP 27?
The World Economic Forum published an article on the key issues to be discussed at the international climate summit, better known by the COP 27 (Conference of the Parties), which is taking place in Egypt from November 6th to 18th.
- COP 27 has set the following priorities to accelerate climate action and compliance with the agreements reached in previous meetings (Paris and Glasgow Agreements):
- Mitigation: All countries, especially those in a position to lead by example, are urged to take more ambitious and immediate measures to reduce emissions and limit global warming to well below 2°C, without abandoning the 1.5°C target.
- Adaptation: To ensure that countries have the political will and move forward with the necessary actions to improve resilience to climate change by helping the most vulnerable communities in the face of increasingly frequent climate events.
- Financing: To make significant progress in terms of the financing flows necessary to achieve emission reduction targets in developing countries. Specifically, advance in the effective arrival of the 100,000 million annual dollars already agreed in previous meetings.
- Collaboration: As the UN negotiations are consensus-based, reaching agreement will require “inclusive and active participation from all stakeholders”.
- New areas to watch: According to the article, there could be new agreements or announcements in the following five areas related to global warming:
- Protection of natural resources (for example, deforestation and protection of the oceans).
- Water security in the event of increasingly frequent floods or prolonged droughts (it is estimated that in a scenario of global warming of 2 °C up to 3 billion people could have problems related to water scarcity).
- Food security in the face of climatic disasters (821 million people go hungry on our planet). Land productivity has decreased by 21% because of climate change. COP will focus on how to scale the solutions required to meet growing food demand in a climate resilient way.
- Decarbonisation of emissions-intensive industrial sectors (aviation, ships, transport, raw materials...).
- Adaptation to climate change, looking for innovative solutions and cooperative schemes to help the most vulnerable communities, those most affected by climate change