What To Expect From The World Climate Summit COP27?
What is the COP27?
Photo by UNClimatechange
The Conference of the Parties, or COP, is the global climate change conference hosted by the United Nations.
The first conference was organized in 1992 in Berlin, and it has been held annually ever since.
The purpose of the COP is to address dangerous human interference with the climate system and to determine which actions can prevent a rise in global temperatures.
The COP is a crucial event for international climate change cooperation. It brings together world leaders and experts to discuss and negotiate solutions to fight the global climate crisis.
This year's COP takes place in Sharm el Sheikh, Egypt.
3 key milestones in previous COPs?
COP3 - The Kyoto Protocol set the basis
In 1997, at the third Conference of the Parties. Heads of state from wealthy and developing nations agreed, for the first time, to reduce their greenhouse gas emissions to mitigate climate change.
This commitment was codified in the Kyoto Protocol, which set targets for reducing emissions. The Protocol was initially set to last until 2010 but was later extended to 2020 following the Doha Amendment.
COP21- The Paris Agreement unanimously signed
In 2015, the Paris Climate Agreement was a historic moment in the fight against climate change.
For the first time, almost 200 countries came together and unanimously agreed to keep global warming 2ºC above pre-industrial levels.
This ambitious goal can only be achieved if all states work together to reduce their greenhouse gas emissions.
To hold each other accountable, all countries have published their targets on the United Nations website.
COP26 - Pursuing the efforts
The Glasgow - 2021 UN Climate Change Conference resulted in landmark agreements to pursue the reduction of emissions and conserve forests worldwide.
103 nations signed the Global Methane Pledge, agreeing to reduce methane emissions by 30%. Other countries signed an agreement to gradually eliminate their use of coal and fossil fuels.
In addition, more than 100 world leaders promised to halt and reverse deforestation by 2030.
Photo by UNClimatechange
Pressing matters of the latest COPs
In recent years, the main debate at the Climate Change Conference is to determine who is financially responsible for the climate crisis.
As wealthy countries continue to release greenhouse gases into the atmosphere, developing nations are increasingly facing the consequences of climate change. Wealthy countries of the planet are responsible for half of the world’s emissions over the last 100 years.
Vulnerable economies are demanding compensation and funding to face the drought, floods, and forced displacement of people due to rising waters and famines.
Many of the countries heavily impacted by climate change consequences have contributed very little to global emissions. For example, small island nations are particularly vulnerable to rising sea levels. Some of these nations have gathered to form the V20 group or the Vulnerable Twenty group. The V20 group is calling on wealthy nations to provide more financial support.
Pledges by wealthy nations to provide $100 billion per year for climate adaptation and mitigation projects in poor countries have been largely unmet.
The Green Climate Fund has raised $11 billion to date. This money has been spread between 204 climate change projects in vulnerable nations.
Photo by UNClimatechange
Were commitments made at previous COPs achieved?
Unfortunately, as the Climate Transparency Initiative's new report shows, the majority of rich countries are falling far short of their commitments. Only three out of the G20 nations (France, Japan, and Germany) are honoring their financial contributions, while the USA, UK, Canada, Australia, and Italy collectively funded only $ 8 billion over the $60 billion promised.
This lack of progress is extremely concerning, and it is essential that wealthy nations take immediate action to increase their financial contributions.
Additionally, many climate experts estimate that global temperatures will climb higher than the 1.5 degrees target set in the Paris Agreement.
What are the global expectations for COP27?
One of the main objectives of COP27 is to agree on funding for loss and damage and adaptation projects for emerging countries. This is seen as a key step as it will help vulnerable nations to cope with the effects of climate change and adapt to a more sustainable future.
Another key issue that is expected to be addressed at COP27 is reducing methane emissions. Methane is a powerful greenhouse gas, and its emissions have been rising in recent years. Reducing methane emissions is seen as essential to keeping global temperature from increasing by more than 2 degrees Celsius.
In addition, the COP27 is expected to prioritize sustainable transport solutions such as low or zero-emissions vehicles and shipping. This is seen as essential to achieving the goals of the Paris Agreement, as transportation is responsible for a significant portion of greenhouse gas emissions.