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COP27: What is the UN Climate Change Conference in Egypt planning?

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The challenges associated with the invasion of Russian troops, such as for energy procurement within Europe, the end of gas supplies from Russia, and the global distribution of food have pushed global warming into the media background. This has also meant that there has been little progress since the last climate conference in Glasgow. (1)

That is why the 40,000 or so participants will once again be addressing the question: How can humanity stop climate change? Host Egypt does not yet have the image of a pioneer in the use of green energy. The North African country still obtains up to 90% of its energy from fossil fuels, and its most important exports to date have been gas and oil. But a change is imminent, because the country on the Nile is investing heavily in hydrogen projects. If all projects were realized, Egypt would produce 3.6 million tons of green hydrogen per year. After Australia with 9.2 million tons per year, Egypt could thus become the largest supplier of green gas. (6)

The goals of the COP27

Also at the center of the conference: the Paris climate goal of limiting global warming to 1.5 degrees. According to researchers, to achieve this goal, global emissions of climate-damaging greenhouse gases would have to be reduced by around 50% by 2030. (4) But it is questionable whether this can be achieved with the currently planned climate policy. Because with the war, climate-damaging energy sources are unfortunately experiencing their renaissance, and this could also have an impact on this year's COP. Cooperation between states may also be threatened by the global mistrust sown by the war of aggression on Ukraine. According to a study by the World Meteorological Organization (WMO), the 1.5 degrees may be exceeded as early as 2026, and it is 50% more likely to happen at least once within the next five years. This would have serious, irreversible consequences that would be increasingly damaging to people and the planet as a whole. Even the rise to as much as 1.5 degrees makes the current condition worse. Yet the global temperature has "only" risen 1.2 degrees and is already showing up in countless disasters such as storms, droughts and heat waves. (5). In addition, the livelihoods of millions of families are being threatened. (2)

The question of money is in focus

Heat waves and droughts in Africa, Asia and Europe and floods in Pakistan and in Africa's west are dramatic reminders. While poorer nations are most affected by climate change, they are least able to protect themselves against the changes. Industrialized countries, on the other hand, have been emitting huge amounts of greenhouse gases for a very long time. For this reason, they are to compensate financially for damage caused by climate change and for adaptation measures in poorer countries. Rich countries promised 100 billion dollars at the Paris climate summit - but so far they have refused to keep this promise. To date, the sum has not been raised, nor will it be enough. (3)

Opportunities to advance international climate protection

The joint path to net zero with regard to emissions is subject to the following conditions:

All states are phasing out fossil fuels.
In the production of energy, they should rely on renewable energy sources.
All countries must increase their contributions to climate protection and rapidly implement climate protection measures.
Developed countries are providing about $100 billion in climate finance this year and more than $600 billion between 2020 and 2025.
All countries should align their financial flows with climate, biodiversity, and sustainability goals. (7)

Companies can also drive the path to net zero

It is clear that future-oriented regulations and laws must be made at the national and international political level. Political action is the most important basis for a sustainable future on our planet. Beyond that, however, companies and private individuals can also do their part to meet climate targets by acting as sustainably as possible.

Companies in particular can make a big difference by changing and adapting internal processes and actively reducing CO₂ emissions. Our checklist for CO₂ reduction, for example, provides an introduction to this. We also support companies with their sustainability strategy with Planted. From the CO₂ balance sheet, dual materiality analysis and internal reduction to ESG reporting and local environmental protection. Want to find out more? Book a no-obligation demo of the Planted sustainability platform here.

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