COP 27 takes place against a backdrop of global geopolitical and climate crises, underscoring the need for nations to achieve progress at this year’s conference. Although the climate priorities of various international leaders vary—especially between developing and developed countries—experts reserve hope that countries will take key steps towards addressing some of the most pressing climate issues while in Egypt. Here are three key topics to keep an eye on at COP 27:
Topic One: Financing Climate Change Loss and Damage. At COP 26, the Group of 77 (G77) and China proposed a climate loss and damage project, which the United States and the European Union (EU) ultimately sidelined. Now, after a year rife with natural disasters, the former coalition plans to re-propose the creation of a facility for loss and damage at COP 27. While some developed countries have already made significant loss and damage contributions—most recently Denmark—the United States and the EU remain holdouts on a formal program. Countries must agree in the early hours of the conference whether to discuss the topic, or cooperation during the rest of the summit could be severely impaired.
Topic Two: Bolstering Adaptation Projects. Developing countries also have their eye on funding for adaptation projects. At COP 26, developed countries agreed to double their financial commitments towards helping vulnerable communities adjust to climate change—a pledge with a total price tag of around $40 billion per year. At COP 27, the focus will shift to procuring funding and determining how this funding can be allocated to communities that need it the most.
Topic Three: Promoting Accountability Amidst Geopolitical Strain. COP 26 ended with a call for international leaders to review their 2030 Nationally Determined Contributions (NDCs) and ensure they align with the UN’s goal of cutting global temperature rise to 1.5 degrees Celsius. At COP 27, countries will be under pressure to show evidence of progress toward their climate commitments and funding targets. Ahead of COP 27, only 23 nations have proposed updated plans reflecting the UN’s global temperature goal. Worse, Russia’s invasion of Ukraine has destabilized the energy market, causing many major players to increase their reliance on fossil fuels. A key criticism of the Paris Agreement remains: the majority of its commitments are voluntary.
COP 27 comes during a crucial time, especially considering that the Intergovernmental Panel on Climate Change (IPPC) recently found that the impacts of climate change are worsening. In November, climate leaders will need to cooperate to address these three key topics outlined above in order to make vital progress on addressing climate change.
We will continue to provide updates regarding COP 27 as we learn more. For more information, visit the UNFCC’s COP 27 landing page. The COP 27 pre-session agenda is accessible here, while the COP 27 week agenda can be found here.
