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Every year, UN climate conferences are organised to encourage governments to adopt measures to slow global temperature rise.
They are known as COPs, or “Conference of the Parties,” for short. The parties are the participating nations that ratified the first UN climate accord in 1992.
The 27th annual UN climate conference is known as COP27. It was held in Sharm el-Sheikh from November 6 to November 20 2022.
On November 7 and 8, the meeting was attended by heads of state and government. From November 15–18, a high-level event that was mostly attended by ministers was held.
Countries gathered at the COP27 climate change conference in Sharm el-Sheikh to take steps toward meeting the global climate goals set forth in the Paris Agreement and the Convention.
Representatives from 198 nations wrapped up the COP27 meeting.
Negotiators and heads of State made headway in important areas after the conference deadline passed, which is likely to have broad impacts.
India’s contribution towards climate change has been significant in the recent past and one such commitment can be ascertained by looking at its NDC (Nationally Determined Contribution). India recently updated its NDC to tackle the climate crisis in August 2022.
Please refer below for a comparison between the older and the latest version of NDCs:
Goal No. | India’s Intended Nationally Determined Contributions Submitted – October 2015 (upto 2021 ) | India’s Updated First Nationally Determined Contribution Under Paris Agreement (2021-2030) Submitted – August 2022 (upto 2030) |
---|---|---|
1 | To Reduce the emissions intensity of its GDP by 33-35% by 2030 from 2005 level | To Reduce emissions Intensity of its GDP by 45% by 2030, from 2005 level |
2 | To achieve 40% of electric power installed capacity from non-fossil fuel by 2030 | To achieve about 50% cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030 |
3 | To Create additional carbon sink of 2.5-3 billion tonne of CO2 equivalent through additional forest and tree cover (increase of about 680-817 million tonne of carbon stock) | No change |
4 | To better adapt to climate change by enhancing investments in development programmes in sectors vulnerable to climate change, particularly agriculture, water resources, Himalayan region, coastal regions, health and disaster management | No Change |
5 | To mobilize domestic and new & additional funds from developed countries to implement the above mitigation and adaptation actions in view of the resource required and the resource gap. | No Change |
6 | To build capacities, create domestic framework and international architecture for quick diffusion of cutting edge climate technology in India and for joint collaborative R&D for such future technologies. | No change |
7 | To put forward and further propagate a healthy and sustainable way of living based on traditions and values of conservation and moderation | To put forward and further propagate a healthy and sustainable way of living based on traditions and values of conservation and moderation, including through a mass movement for ‘LIFE’– ‘Lifestyle for Environment’ as a key to combating climate change |
8 | To adopt a climate friendly and a cleaner path than the one followed hitherto by others at corresponding level of economic development | No change |
Unquestionably, COP 27 was a historic turning point for dealing with loss and damage. Additionally, even if it “remains on life support,” it “kept the line” at 1.5°C, according to COP 26 President Alok Sharma. In addition, the conference made vital decisions in key areas that are essential for implementation, including as markets, finance, and mitigation, but many people are still wondering when these various aspects of climate action will be implemented.
Although the mitigation work programme decision mentions scientific urgency, some developing countries, especially the LMDCs (Like Minded Developing Countries), felt the item might introduce new elements outside of the Paris mandate, such as mediumterm targets, and preferred to end the work programme in 2023 rather than continuing through 2030. The work programme now only has a mandate through 2026 as a compromise. Similar to this, a request for the final cover decisions to take into account recent conclusions from the Intergovernmental Panel on Climate Change regarding the necessity of reaching global emissions peak before 2025 to keep warming to 1.5°C was rejected.
A similar temporal divide in opinions was evident in the financial negotiations, as poor nations emphasised the urgency of first establishing clarity on the “quantum” and time frame of the new, post-2025 global quantitative target on climate financing, and then discussing the specifics. Developed nations persisted in wanting to first debate technical issues before deciding a specific goal for 2024. Little is accomplished for the developing nations in this regard as per the resolution made on this matter by the Conference of the Parties acting as the Meeting of the Parties to the Paris Agreement.
Overall, the COP 27 outcomes should be enough to keep implement the strategies for another year, and they, undoubtedly gave those now experiencing the terrible effects of climate change a significant victory.
But there is still a lot to be done. “COP 27 finishes with much homework and little time,” said UN Secretary-General António Guterres.
Many organisations and nations had already set their sights on COP 28 during the final plenary on Sunday, November 20. Through the first Global Stocktake, the upcoming COP in the United Arab Emirates is expected to advance more on both implementation and ambition. Although it is obvious that countries have very varied perspectives on how to achieve ambitious implementation, the Paris Agreement is currently in its nascent phase. The purpose of COPs will need to be reimagined as venues for nations to come together towards progress, uphold openness and accountability, and increase ambition to the levels necessary to avert a climate crisis. Many people wonder whether COPs are effective, but few suggest changes that should be made. “If we didn’t have COPs, we’d have to invent them,” as one observer put it, especially to give the most vulnerable a platform to demand action on their top goals under the Paris Agreement. A topic that demands attention is how the various implementations and ambitious visions will manifest themselves in the upcoming COPs.
Sonal Verma leads the ESG Practice in the firm as a Partner and Global Leader – Markets & Strategy. With his crossroad working with business & laws – he brings advice & technology for effective change management in the journey of ESG. Sonal is well acclaimed for his work in regulatory & compliance programs over the last decade. He had in the past worked with 1800 plus clients in India and 61 other countries globally. He has worked with the top 3 unicorns and many Fortune 500 companies. His clients have been across different industries, viz. Automotive and OEMs, Pharma and Life Sciences, Manufacturing, Chemical Industry, BFSI, Infrastructure and Utilities (including stateowned PSUs), e-Commerce and Fintech Companies, Diversified Conglomerates etc.
Saurabh Sharma is an associate with the firm who works primarily in the areas of ESG advisory, Compliance, Sustainability and Corporate Governance.
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