The 27th UN climate talks, or COP 27, ended in Egypt and it failed in addressing major concerns about climate change. While important decisions were taken in this conference to reduce the impact on the most vulnerable people of the climate crisis, nothing much was seen or heard in this dialogue to address the causes of global warming.
If on one side of the scale of discussions in this COP 27 were more mitigation ambitions of the developed world and expansion of the list of countries responsible for climate change, then the financial and financial resources to face and deal with the increasing climate impacts of the developing countries were on the other side.
There were many agreements in this COP 27, but the baseline of emission reduction fixed in Glasgow could hardly be touched.
An unimaginable initiative definitely took place this COP27. And it committed to setting up a financial support structure for the world’s most vulnerable groups, before the next COP 28 in 2023, to deal with the “loss and damage” caused by the effects of the climate crisis.
It can be called unimaginable because shortly before, a round of vigorous discussions had started on it and a decision was also taken in the COP. Keep in mind that the cost of damage due to climate change has increased to $ 200 billion.
It discussed “low emission” energy sources with renewables as future energy sources. It is feared that the development of new fossil fuel technologies may start under the guise of an undefined term like this low emission.
COP 27 Failed, What are the main reasons?
Commenting on COP 27, Ulka Kelkar, Director, of the Climate Programme, WRI India, said, “The new Loss and Damage Fund is a safeguard of sorts for civil society groups in poor and vulnerable countries. Another great thing was the clear message to multilateral development banks to provide more climate finance to developing countries without forcing them into debt. COP27 has also created a new equitable energy transition program that is relevant to countries like India that have large workforces in fossil fuel-dependent sectors.”
Just as the G20 ended with a strong statement against war, COP27 could see a powerful commitment in the current energy crisis to finally phase out all fossil fuels. But instead, it only calls for a diverse energy mix, which in a sense fuels the continued expansion of the gas.
Further, Shruti Sharma, Senior Policy Advisor, IISD, says, “It is disappointing that COP27 did not build on the decisions of COP26. Failing this, a strong message on the phaseout of fossil fuels could not be delivered. COP 26 called on the parties, inter alia, to move towards low energy systems through an unabated phasedown of coal. Through India’s proposal, COP27 was expected to phase out all fossil fuels including coal oil, and gas. But regardless of the intent of the Indian proposal, we know that drastic emissions cuts are now needed to keep up with the Paris Agreement goals and keep the 1.5°C temperature limit within reach. This means we urgently need a commitment to (1) no new fossil fuel investments; (2) concrete plans to reduce global production and consumption of coal, oil, and gas, and (3) decisions to end government support for all of these fossil fuels.”
The world cannot afford to reduce coal in the first phase and then turn to oil and gas. This year’s COP didn’t show much emphasis on moving away from fossil fuels, and that’s disappointing.
In conclusion, Aarti Khosla, Director, of Climate Trends, concluded, “COP27 has been a tough pill to swallow, but it has also resulted in more progress than anticipated. It shows that all countries are still willing to engage in this process and understand its importance. Negotiators have debated language but in the big picture, the world has saved a wasted year by not compromising on language on a 1.5°C temperature rise. This COP27 will be remembered for the agreement to create a loss and damage fund. COP has demonstrated how geopolitics is changing and each country has acted in its own interests. Significant progress has also been made in incorporating the scale-up of renewables. Countries failed to agree to phase out all fossil fuels. It highlights not only the energy crisis but also the grip of the oil and gas lobby in this COP27.”
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