COP27 has clearly delivered some positive outcomes and commitments but, has there been enough progress? Is the promised momentum from COP26 being realised?
The talking point that stole the show was the commitment to establish the loss and damage fund to help countries being impacted by climate change. A positive move however, that doesn’t detract from the fact that progress and action is still required to improve the situation for the future. It will be interesting to see how funds are dispersed.
Commitments and progress
Are we on the right path to delivering The Paris Agreement? New terminology seems to be being used, previously the call was to keep 1.5 alive, which appears to have evolved to “every fraction counts”. While the sentiment is true, if we don’t keep focus, we will fall short of the 1.50C for which we still need to cut emissions by 45%. This target was and is a necessity, not a negotiation however, it seems that some governments around the world have taken their foot off the gas and have been distracted by global energy and financial crises.
COP26 saw the signing of the Glasgow Climate Pact which contained new pledges on coal, forests and money. The table below shows the progress of 7 countries:
The US appears to be leading the way with progress since COP26 and have, this year, passed new laws to confront climate change, with the aim of reducing US greenhouse gas emissions by 40% by 2030. The US is looking to make green energy the default energy solution in major sectors including electricity, transport and industry. The are also incentivising consumers to opt for an electric car with a tax credit of around $7,500. These are clearly positive steps in the right direction.
However, in a response to the energy crisis, 15m barrels of oil from reserves have been released on the market and approval on new leases for oil and gas drilling has been given by President Joe Biden.
The US is not alone in making these types of decisions as the UK has also backtracked on commitments to end new oil and gas extraction in the North Sea and close down coal-powered stations.
India has promised to reduce emissions intensity (emissions per dollar) by 45% by 2030 and aim for 50% of installed energy to be from renewable sources. On the other hand, it plans to reopen 100 coal mines.
Fossil Fuel commitments made in line with COP26 were to phase down usage however, has this been an opportunity to take liberties and make minimal change. These types of decisions feel a little like 2 steps forward and 1 step back, we need to find better solutions to be sustainably resilient in times of adversity. Protection of the world we live in should not be a “trade-off” when things get tough.
Representation for Nature Based Solutions
This year saw growing recognition of the contribution received from nature-based solutions (from renewable sources) and highlighted the need to protect and preserve our current carbon sinks. There needs to be a change in approach where it is more profitable to invest in the preservation of these areas, rather than the appeal of the financial reward of destruction. It will be interesting to hear further and more detailed plans at the global meeting on biodiversity which will be held in December (7th – 19th).
Maybe we don’t all understand the importance and impact carbon sinks and biodiversity have on the environment and climate. It’s a real positive seeing more representation in this area, giving a voice for solutions which we already have. Preservation and conservation are extremely important in the journey to achieving the commitments of The Paris Agreement.
Clarity and Transparency
Clarity and transparency were regularly referenced, particularly in relation to accurate measurement, calculation and reporting of emissions and other metrics. There was a clear call for transparency of commitments and the methods employed to achieve them. There is a clear need for consistent and accurate data to be able to track and measure change, you cannot manage it if you cannot measure it.
Concerns were aired about the quality of some commitments and the supporting data being used, highlighting that without clarity and transparency, there is the likelihood that some commitments and claims may well be “greenwash” and not a true reflection.
Data is king, and in order to quantify the level of improvement, we need to ensure that the data we collect, manage and store is clear, accurate and transparent and supports us all with staying on track to achieve our environmental goals.
Collaboration
The need for collaboration across industry and sectors was a key message throughout, whether that be competitors collaborating with each other, industry engaging with key stakeholders and suppliers to drive accountability to deliver behavioural change and the sharing of innovations and opportunities. Working individually is unlikely to deliver the seismic change that is required so we need to adjust the way we operate.
My final thoughts
There have been positives and negatives however, I’m disappointed that whilst we are still making progress, we aren’t even close to hitting the pace needed to achieve the 1.50C in time, which is the minimum we need to achieve. Despite the range of challenges, we are all experiencing at present, the planet will not wait. We need to act now, the protection and futureproofing of the environment, is the responsibility of all of us.