It is certain that Russia's ongoing war against Ukraine will influence the negotiations at COP27. The same applies to the global food and energy crisis, new geopolitical dynamics or the recent global impacts of climate change, such as the devastating floods in Pakistan. But other pressing issues will also be in the spotlight in Egypt.
Loss and Damage
States most vulnerable to climate change have called for financial and technical loss and damage support for decades. The EU and the US must finally take the lead in answering this call at COP27 in Sharm El Sheikh, for example in the shape of a Global Solidarity Fund, akin to the EU’s solidarity fund introduced after severe flooding in 2002. This is what adelphi-expert Dennis Tänzler recently suggested together with Anne Christianson of the Center for American Progress in an op-ed in The Hill.
COP27 will also show wealthy nations struggling to promote decarbonization while ensuring that society is not excessively burdened. One promising tool for reducing greenhouse gas emissions cost-effectively is emissions trading systems (ETS). Almost one-third of the world population already lives under an ETS in force. By design, the tool can both respond to significant external shocks and guarantee the achievement of a long-term decarbonisation goal. Adelphi-expert Stefano De Clara will be in Egypt to explain that now is the time to double down on decarbonization commitments rather than abandoning them. Because they are not the cause of energy price hikes, but the solution to them.
A world climate parliament?
Remember? COP26 in Glasgow was a fireworks display. States announced myriad initiatives, from methane to forestry, coal, transport and beyond. But the crucial question at COP27 now is: What happened since then? Dennis Tänzler, Director and Head of Climate Policy at adelphi, says: “Sadly, not much. The gap between ambition and measurable results is still far too wide.” He believes delegates should therefore meet permanently, in a world climate parliament of sorts, so that they can deal with climate policy progress 24/7.
Here are some opinions of the adelphi experts on COP27:
“The issue of loss and damage is not about guilt — it’s about action. If wealthy nations continue to keep their proverbial heads in the sand and refuse to acknowledge the justified calls for loss and damage action at COP27, their climate pledges will appear disingenuous and international trust will continue to erode — and more importantly, more lives and livelihoods will continue to be lost.”
Dennis Tänzler, Director and Head of Programme Climate Policy at adelphi
“Informed responses to climate, peace and security must be a top priority at COP27. It is in everyone’s security interests that states most vulnerable to climate change receive more attention.”
Janani Vivekananda, Head of Programme Climate Diplomacy and Security at adelphi
“Green entrepreneurship deserves more attention at COP27. SMEs are important drivers of change but lack policy signals and finance to reach their full potential.”
Cosima Stahr, Senior Advisor + Co-Lead Finance at adelphi
“The need to shift away from fossil fuels has been present for years, as have the solutions. We can avoid a repeat of the energy crunch in future by making smart decisions today and acting fast. Carbon pricing helps incentivise this move – now is the time to double down on our climate commitments and to drive the change we need to see.”
Stefano De Clara, Head of the Secretariat of the International Carbon Action Partnership (ICAP), hosted by adelphi
"The breakthrough in the Article 6 negotiations at COP26 must now be succeeded by further decisions, among other things, to guarantee the environmental integrity of credits and provide transparency in the link between compliance and voluntary markets."
Denis Machnik, Senior Manager at adelphi
“Climate Policy only works with the right people at the table. Facilitating transatlantic cooperation and commitment on policies from mitigation to adaptation and Loss and Damage can help signify real leadership to push progress where we need it to be. COP27 is an opportunity for the U.S.A. to show the world they are really back in the Paris Agreement and for European and Canadian leaders to back up their pledges.”
Tobias Bernstein, Consultant at adelphi