As Egpyt prepares to host the 27th session of the Conference of the Parties (COP27), it has set out a vision for the UN Framework Convention on Climate Change. COP27 will be taking place in Egypt’s coastal city of Sharm El-Sheikh from November 7th to 18th, 2022.
According to a media release by Egypt’s COP27 Presidency, the conference aims to make it an “implementation COP” by pushing for actions across prior agreements through all areas of climate change needs.
“We must accelerate climate action on all fronts including mitigation, adaptation and finance in addition to adopting more ambitious mitigation measures to keep the 1.5 degrees Celsius within reach,” said Egyptian Foreign Minister and COP27 President-Designate Sameh Shoukry. The agenda for COP27 includes four main items to be discussed: climate finance, adaptation, loss and damage, and increased ambition.
Speaking at a COP27 Global Press Briefing, Ambassador Wael Aboulmagd, Special Representative of the COP27 President said: “We cannot underplay the threat that humanity is facing due to climate change; four percent of global economic output could be lost by 2050 due to climate change and five million people die every year because of temperature extremes.”
Climate finance a key area of focus
A critical area of focus and a parameter of success for COP27 would be a just and managed transition to a new sustainable economic model.
The Paris Agreement recognised that nations have combined but differentiated responsibilities due to their historical greenhouse gas emissions. This puts the responsibility on developed nations to help developing nations with appropriate finance to make the transition to a more sustainable economy over time.
COP27 Presidency points to the need to first meet current financial commitments, with the $100 billion finance goal and the doubling of global adaptation finance and take global ambition on finance further if we are to deliver effective climate action.
COP27 Presidency also launched “Act Now”, a film which highlights the real and present danger of climate change, its man-made origins and its man-made solutions.