Tomorrow will mark the beginning of COP27, the United Nations climate summit, the summit will be held in Sharm el-Sheik, Egypt, and is expected to attract world leaders such as President Biden, the new British Prime Minister Rishi Sunak, and the new Italian Prime Minister Giorgia Meloni, as well as representatives from dozens of other nations.
How are countries reducing their greenhouse gas emissions?
Climate Variation Mitigation refers to the reduction or elimination of greenhouse gas emissions. Utilizing new technologies and renewable energy sources, making older equipment more energy-efficient, or modifying management practises or consumer behaviour are all examples of mitigation strategies.
Countries are expected to demonstrate how they intend to implement the Glasgow pact call, review their climate plans, and develop a mitigation work programme.
This entails presenting more ambitious 2030 emission targets, as the United Nations Framework Convention on Climate Change has stated that current plans are insufficient to prevent catastrophic warming.
2. Adaptation: how will nations adapt and assist others in doing so?
Climate change has arrived. In addition to doing everything possible to reduce emissions and slow the rate of global warming, countries must adapt to climate consequences in order to protect their citizens.
The repercussions vary by location. It may increase the likelihood of fires, floods, droughts, warmer or colder days, and sea-level rise.
At COP26, delegates adopted a work programme for the Paris Agreement's global adaptation objective.
The plan was enacted to equip communities and nations with the knowledge and tools necessary to ensure that the adaptation actions they undertake contribute to a more climate-resilient future.
The COP27 Presidency anticipates that nations will document and evaluate their progress in enhancing resilience and assisting the most vulnerable communities. This requires countries to make more specific and ambitious adaptation commitments as part of their national climate plans.
Last year, developed countries agreed to at least double adaptation funding, and many stakeholders are now calling for even higher levels of adaptation funding to match the amounts currently spent on mitigation under the Paris Agreement. This will undoubtedly be a popular topic of conversation in Sharm el-Sheikh.
To address current and future climate risks, the UNFCCC has made it abundantly clear that the scale of adaptation finance from all sources — public and private — must be significantly increased. Governments, financial institutions, and the private sector must all participate.
The elephant that never leaves the negotiation room: Climate Finance
Climate finance will once again be a leading topic at COP27, with numerous finance-related discussions already on the agenda. Developing nations have issued a resounding call for developed nations to provide adequate financial support, especially to the most vulnerable.
We will likely hear a great deal about the annual $100 billion pledge by developed nations that is not fulfilled. In Copenhagen in 2009, wealthy nations pledged to provide this funding, but official reports indicate that this goal is not being met. Experts anticipate that COP27 will finally make this commitment a reality in 2023. This and other commitments and pledges made at previous COPs will be followed up on by the Egyptian Presidency.