Expectations from COP27 and how it will help to achieve Paris agreement: Opinion

Written by Shailendra Singh Rao, Founder and MD of Creduce

The Conference of Parties (COP27), a renowned climate conference where important discussions and decisions are made under the auspices of the UNFCCC framework, is taking place in Sharm El-Sheikh, Egypt, from November 6 through November 18, 2022.

The United Nations Framework Convention on Climate Change (UNFCCC) has given Egypt the responsibility of hosting COP27 and taking over the incoming Presidency with a clear understanding of the seriousness of the global climate challenge and an appreciation for the importance of multilateral, collective, and concerted action as the only way to address the global threat.

The COP27 summit was attended by more than 45,000 registered participants and over 120 heads of state and government, including US President Joe Biden, UK Prime Minister Rishi Sunak, and French President Emmanuel Macron.

India at COP27
At the COP27 session in Egypt, India presented its Long-Term Low Emissions and Development Strategies (LT-LEDS), outlining its actions to reach net zero emissions by 2070. Also, the adoption of ‘Lifestyle for the Environment (LiFE)’ introduced by Prime Minister Narendra Modi at COP26 in Glasgow was presented at the event to make a global effort to protect and preserve the environment. Along with other developing countries, India pushed developed nations to increase the availability of technology and funding necessary to address climate change and the natural disasters that occur from it.
Expectations from COP27
Based on the conclusions drawn from the COP26 summit, the UNFCC 27th Conference of the Parties, or COP27, generates action on several issues vital to addressing the climate emergency, like urgently reducing greenhouse gas emissions, building resilience, and adapting to the unavoidable impacts of climate change and fulfilling the commitments to finance climate action in developing countries.
● Loss & Damage Agenda
The loss and damage agenda was one of the major highlights of the COP27 summit. G77 plus China suggested that L&D be added as a sub-topic under agenda item 10 of COP27 and that the Glasgow Dialogue be allowed to proceed in parallel. L&D was formally added to the COP27 agenda in August after being featured in the tentative agenda in August. Developing countries proposed the concern of loss and damage to be considered in the COP27 agenda and allow for compensation to them.
● Cooperation on Paris Agreement
In the midst of a deepening energy crisis, record greenhouse gas concentrations, and other challenges, COP27 is seeking fresh international cooperation to execute the Paris Agreement for people and the environment. Developing countries emphasized the commitment of the developed countries in 2009 to mobilize $100 billion annually for climate action in developing countries to help the nations to tackle
climate change.

To sum up
To guarantee prompt and appropriate action, COP27 is dedicated to assisting a party-driven, open, and inclusive process. The Conference of Parties has undergone a remarkable transition throughout the years, from Stockholm, Rio, Bali, Kyoto, Durban, Paris, Katowice, and Glasgow to Sharm El-Sheikh, in terms of both how it is run and what results from the discussions.

It also serves as a significant reminder for all parties to reaffirm the Paris Agreement’s long-term global aim and temperature limitation goal and acknowledge the necessity for immediate action to maintain the 1.5-degree target within reach.

Also, COP27 provides developing countries presented the importance of adequacy and predictability of climate finance to achieve the goals of the Paris Agreement and to address the issue of adaptation and loss and damage to meet their financial need during climate calamities.