October 04, 2022 / by TSC
The COP27 Cheat Sheet
COP27 is taking place this November 2022, governments are in preparation and businesses are gearing up for the event. Here’s the quick snapshot of COP27 to get you up to speed.
What is COP27?
COP27 is the 2022 United Nations Climate Change Conference.
What does COP27 mean?
COP: Conference of Parties and this will be the 27th conference in 2022.
Who is COP27?
The COP is the decision-making forum of the United Nations Framework Convention on Climate Change (UNFCCC), bringing governments together annually to discuss and agree on how to jointly tackle climate change and its impacts.
Where is COP27?
COP27 will take place in Sharm El-Sheikh, Egypt.
Blue Zone: For Civil society organisations. This will be at the Sharm El-Sheikh International Convention Center (SHICC).
Green Zone: For the private sector and civil society, where business community, youth, civil and indigenous societies, academia, artists and fashion communities can come to express themselves and have their voices heard. This will be in the Peace Park in Sharm El-Sheikh.
When is COP27 happening?
COP27 will take place from 7 – 18 November 2022. Initially supposed to take place from 8 – 20 November 2021, it was pushed back as COP26 was rescheduled from November 2020 to November 2021 as a result of the COVID-19 pandemic.
Why is COP27 important?
COP27 will bring governments together to help hasten global efforts to tackle the climate crisis. The latest science shows that climate change is moving much faster than forecasted and is pushing ecosystems and communities to their limits. To have a chance of limiting global warming to 1.5C, global emissions will need to be halved by 2030 and reach ‘net-zero’ by 2050.
What are the key focuses of COP27 this year?
What will be discussed at COP27?
Climate impacts and adaptation in Africa. COP27 is nicknamed as the African COP.
Climate Finance Funding
Agreed at COP15 Copenhagen in 2009, $100bn a year in climate finance funding is needed from developed countries by 2020.
Just like how Amber Heard pledged her divorce settlement from Johnny Depp to charity but did not deliver, developed countries have failed to meet the goal of $100bn annually so far.
Source: House of Commons Library
Who has paid what?
What is the Paris Agreement?
The Paris Agreement is the first legal-binding treaty on climate change signed at COP21 by 195 countries in December 2015, to keep global temperature increase below 1.5C ideally, or well below 2C.
Key points of the Paris Agreement
Collapse of G20 talks threaten climate pledges
Talks on joint texts at G20 meetings (August 2022) broke down as G20 ministers clashed over language over Russia’s war on Ukraine, climate finance and if the world’s climate target should be 1.5C or 2C.
The difference between G20, G8 and G7
G20 is all about money and is a group of 20 of the world’s richest countries that represent an estimate of 80% of global economic output and 60% of the world’s population. G7 world leaders meet annually mainly to discuss global issues and politics. In 1998, Russia joined the group making it G8 but it was kicked out in 2014 for its annexation of Crimea.