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In the Gear-Up to COP27, Here’s What’s on the Agenda

COP27 takes place in Egypt next month. Climate change is still the world’s number one priority. Here’s what businesses and retailers can expect from COP27.

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In the Gear-Up to COP27, Here’s What’s on the Agenda

The 27th Conference of the Parties of the UNFCCC, known as COP27, takes place in Egypt next month from 6th November to 18th November 2022. Hosted by the Government of the Arab Republic of Egypt, this year’s conference will focus on building on previous successes and paving the way for future ambition to effectively tackle the global challenge of climate change.

Climate change is still the world’s number one priority. However, there is much unrest across the world stemming from current events, crises, wars and more. With that in mind, here’s what we can expect from COP27. 

Doubts and Adversity this Conference Faces

Many have spoken out against the conference this year, some even going so far as to say it is ‘greenwashing’ due to its host location and some of the sponsors. Amongst the neigh-sayers is Greta Thunberg, the famous teen activist, who shared her disapproval of the Egypt's human rights record, among other aspects of this year’s events. With the conference facing this adversity, there is still widespread hope that climate progress will rise above the doubts for the conference. 

The Geopolitical Environment

Expectations for the meeting are somewhat overshadowed, but the world will still be watching. Russia’s invasion of Ukraine has disrupted nations far and wide. At the same time, the stark increase in energy and food prices stemming from it has also incurred global economic and political unrest.

Carving Out Priorities for Action

From strengthening and implementing national reduction targets to addressing the finance needed for loss and damage, there’s a lot to get through during the conference. This will be the second advancement of the Global Stocktake and be a catalyst for turning the Glasgow climate commitments into reality.

Decarbonization Day on 11th November

A day we’ll be keeping a close eye on at Vaayu. The direct emissions of the Oil & Gas, Steel and Cement industries represent more than a quarter of global CO2 emissions. Decarbonization Day will focus on action to decarbonize hard-to-abate sectors and identify new technologies that support that, with a sectoral focus on those three industries. 

What Retailers Can Expect from COP27

Last year's COP26 set the scene for climate action in retail. In particular, it conveyed the need for better data to develop climate-friendly, industry-wide practices and empower stakeholders and consumers to make more sustainable choices. Collective action was also high on the agenda, working together to create change and sharing data across entire supply chains to set accurate industry benchmarks.

With retail responsible for 25% of global emissions, this year’s conference must continue to drive real change within the sector. There is likely to be a heavy focus on addressing greenwashing at a global scale, plus further calls for transparent data for responsible, trust-building communication with consumers. Thanks to recent examples of driving action at scale, we also believe there will be a push to facilitate joint efforts through partnership more than ever before.

Where There is Ambition, There is Hope

Where there is ambition, there is hope. At Vaayu, we are cautiously optimistic about COP27. The next round of national targets needs to be more ambitious than before, and it’s time for businesses to lead the way. Commitments must be backed by genuine action in the here and now. We sincerely hope that the events in Egypt next month will bring about the next push the world needs in fighting the climate crisis.

Stay up to date with the progress from COP27 on the official Twitter or via the UN Climate Change profile.

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