The recently held climate summit in Egypt is taking over the headlines and news across the world.
What is COP27?
COP27, a yearly international world leaders' summit, is associated with climate change and geared toward addressing the world's most pressing environmental issues. It is a remarkable opportunity for global representatives to come together and discuss problems that affect all of mankind. Right now, the entire planet is in an extremely perilous situation. More than 3.3 billion people are already facing extreme vulnerability due to the effects of climate change, threatened with a 15 times higher risk of fatality from floods, droughts, and storms.
Any hold-up to neutralize the global crisis can bring the world one step closer to irreparable damage. Nation leaders gathering at COP27 is a signal of the urgency acknowledgement at hand.
Who Attends COP27?
Taking place annually since 1995, members of the UNFCCC (United Nations Framework Convention on Climate Change) gather for the UN Climate Change Conference or the Conference of the Parties (COP), to discuss how to combat climate change. These two-week summits provide a crucial forum for world leaders, environmental charities, and a wide range of other groups and individuals to negotiate and find solutions for global climate challenges. This year, Egypt has urged nations to set aside disagreements and unitingly take control of climate change issues. The invitee list includes more than 200 governments.
Ensuring the fulfillment of the Paris Agreement is the key target of the 27th Conference of the Parties. This includes reducing emissions, assisting nations with climate change adaptation and mitigation, and providing technical assistance and financial help for the aforementioned nations.
The UN's Intergovernmental Panel on Climate Change estimates that CO2 emissions require a 45% cut by 2030 to achieve the Paris Agreement's 1.5°C target. The developing countries will need all the help possible from the developed countries to curb emissions, which also brings us the first ever "loss and damage" financing on the COP27 agenda. A separate fund pushed for developing countries, small island states, and several indigenous populations to combat the climate extremities brought on by decades of pollution. The loss and damage fund will cater to triggers of climate change such as cyclones, droughts, rising sea levels impacts, etc.
Further, COP27 will follow up on the issues left unresolved or unaddressed during the previous conference in Glasgow. It includes funding nations recovering from the effects of climate change, monitoring global emission costs on goods and services emission costs through worldwide carbon markets, accelerating the cutback on coal use, and addressing gender, agriculture, and biodiversity concerns.
The 27th Conference of the Parties (COP 27) to the UNFCCC is being hosted at Sharm El-Sheikh, Egypt, in 2022. The meeting began on November 6 and will continue till November 18. Click here to stay updated with the COP27 summit.
