The Global Climate Innovation Coalition brings you the highlights from COP27!
Colleagues from the Global Climate Innovation Coalition (GCIC) participated in COP27. Let’s follow them as they share key discussions and moments from the conference!
COP27 Topic: Global Climate Status
This year’s monsoon season saw Pakistan receiving nearly three times the national average rainfall, with Sindh Province reaching five times the average, and conditions are worsening. The warming atmosphere is holding more moisture, causing monsoons to unleash unusually heavy rainfall, which could submerge many areas below sea level. Meanwhile, tropical rainforests worldwide face threats from logging, agriculture, and mining. This year, deforestation in the Amazon hit a six-year high, and the Congo Basin, the world's second-largest rainforest, has seen deforestation rates skyrocket, further jeopardized by oil and gas exploration.
(Photo from the Internet)
Ayisha Siddiqa from Pakistan expressed her deep concerns, noting that the Pakistani people have thrived on this land for over 6,000 years. However, recent climate changes are profoundly disrupting their lives, threatening their existence and cultural heritage. While the Pakistani community has long adapted to their environment, the recent floods are beyond their capacity to manage.
A native girl from Brazil shared her experience, stating that as she nears the end of her university studies, her village was ordered to relocate because it is set to be replaced by a mining operation. Climate change is dramatically affecting communities everywhere, yet governments and corporations globally seem to overlook their needs. She aspires to learn English to advocate for her village and all indigenous peoples.
(Photos from the event)
Our climate is inching toward an irreversible tipping point—once crossed, nothing will be the same, and recovery will be challenging. When certain thresholds are breached, small changes can trigger irreversible chain reactions that alter our climate. Developing countries, especially island nations and coastal regions most affected by climate change, urgently require support from the global community, particularly developed nations.
The Finance Minister of Tuvalu (an island country in the western Pacific Ocean, formerly known as the Ellice Islands) urged attendees to recognize the existential challenges faced by island countries, stressing that fossil fuel combustion exacerbates climate change and raises sea levels, posing survival threats to both people and wildlife.
(Photo caption: From left to right: Somini Sengupta, International Climate Reporter for The New York Times; Roxy Mathew Koll, Climate Scientist from India; Save Paeniu, Finance Minister of Tuvalu.)
Additionally, over the past year, rising temperatures have set unprecedented heat records worldwide. This extreme heat has triggered disasters like floods and wildfires, imposing heavy burdens and losses on individuals, businesses, and nations. Coral reefs globally are facing catastrophe due to rising temperatures and ocean acidification, with the number of coral reefs dropping by 50% over the last 50 years. Studies suggest that by 2050, 30%-50% of coral species could be extinct. Coral bleaching also has ripple effects on broader marine ecosystems and human populations, leaving many coastal communities without key sources of income and food.
(Dr. Adrian Glover)
Dr. Adrian Glover is a distinguished researcher at the Natural History Museum in London. He leads a research group focused on deep-sea systematics and ecology, specializing in polar and deep-sea environmental science. One of the group's current projects is investigating biodiversity in areas experiencing rapid climate change and potential resource exploitation in both the Antarctic and tropical deep-sea environments.
Coral bleaching in the Red Sea has been less severe than in other regions due to consistently high temperatures, attracting scientists eager to discover strategies for maintaining coral reef ecosystems in a warming world.
COP27 Topic: Climate Finance
COP26 left countries on the front lines of climate change deeply disappointed. As developed nations failed to compensate developing countries for devastating losses, the world now needs trillions of dollars to tackle the climate crisis. Therefore, climate finance must be a top priority.
(Photo caption: From left to right: Abdi Atif Dahir, East Africa reporter for The New York Times; Laura Clarke, CEO of ClientEarth; Jesper Brodin, CEO of Ingka Group.)
Financial institutions must collaborate with governments and regulators to allocate more funds effectively, ensuring that resources reach the areas hardest hit by climate change.
(Photo caption: From left to right: Daniel Hanna; Veronica Chau; Bruce Usher.)
Bruce Usher is a professor at Columbia Business School and serves as the academic director of the Tamer Center for Social Enterprise. Before joining Columbia, he was the CEO of EcoSecurities Group and co-founder of TreasuryConnect.
Daniel Hanna recently joined Barclays as the global head of sustainable financing, transitioning from Standard Chartered, where he held the position of global head of sustainable finance.
Simon Stiell, Executive Secretary of the United Nations Framework Convention on Climate Change, expressed his commitment to uniting stakeholders during his tenure, with the ultimate goal of stabilizing atmospheric greenhouse gas concentrations to prevent dangerous interference with the climate system.
(Photo caption: From left to right: Lisa Friedman, reporter for The New York Times; Simon Stiell, Executive Secretary of the United Nations Framework Convention on Climate Change.)
COP27 Topic: Who Should Be Responsible for Carbon Emissions?
During the COP27 meeting, the moderator asked, “How many believe multinational corporations should be held accountable for carbon emissions?” Nearly half the attendees raised their hands in agreement.
(Event site)
After the session, a British entrepreneur with over 40 years in the carbon emissions sector pointed out that consumers, including all of us, share significant responsibility for carbon emissions. Much of our comfort—air conditioning, shuttle buses, coffee machines—relies on fossil fuel combustion. It’s not enough to blame the big oil companies; demand drives their production. We need to start with ourselves, today, and in every small action, embracing sustainable development as our mission to truly achieve a zero-carbon future.
COP27 Topic: What Is the Future of Energy in Africa?
During the global energy competition, many African nations are leveraging their oil and gas reserves. For instance, the Democratic Republic of the Congo is auctioning land use rights in tropical rainforests and peatlands, while Nigeria, Niger, and Algeria plan to supply natural gas to Europe. Besides tapping into fossil fuel reserves, what other avenues do African countries have for financing development and achieving economic growth? What solutions can be proposed? And what responsibility do other nations have in helping realize these solutions?
Accelerating the development of renewable energy can not only mitigate the effects of global warming but also drive economic progress in Africa, lifting millions out of poverty. A report released by the Intergovernmental Panel on Climate Change earlier this year revealed Africa's vast potential for renewable energy development, with some countries making significant strides in renewable energy projects.
The push for renewable energy in several African nations promises substantial benefits across economic, environmental, and social dimensions. During a panel discussion, representatives from African nations introduced the concept of "colonial hangover," arguing that former colonial powers should provide compensation and support for development. Without assistance from developed countries in funding, technology, and education, it will be challenging for African nations to shift from economies reliant on raw material exports.
(Photo caption: From left to right: Abdi Atif Dahir and Max Bearak, East Africa reporters for The New York Times; Omar Elmawi, coordinator of the Stop EACOP Campaign; Mouhamed Adow, founder and director of Power Shift Africa.)
Yamina Saheb, an energy expert and author of the UN climate report, emphasized that renewable energy development is a crucial strategy for Africa, helping to alleviate energy supply pressures. "African countries are actively advancing solar, geothermal, and wind energy projects, moving in the right direction toward expanding renewable energy capacity."
For example, Egypt, the host country for COP27, is rich in solar energy resources, enjoying an average of 9 to 11 hours of sunlight daily ideal for photovoltaic industry growth. In early 2022, Egypt established its "2035 Comprehensive Sustainable Energy Strategy," outlining specific goals for photovoltaic development. By 2035, the country's photovoltaic generation capacity is expected to reach 43 gigawatts, accounting for over 70% of its total renewable energy capacity.
(Photos from the event)
COP27 Topic: Energy Crisis from the Russia-Ukraine Conflict
The COP also addressed the ongoing military conflict between Russia and Ukraine, which has intensified Europe’s energy crisis and quickly raised the demand for clean energy alternatives among European nations. However, building renewable infrastructure could lead to biodiversity loss and pollution, both of which may adversely affect local environments. It’s essential to ensure that the benefits of this green transition outweigh the costs.
(Photo caption: From left to right: David Gelles, reporter for The New York Times; Luisa Neubauer, Climate Justice writer; Sandrine Dixson-Decleve, co-chair of the Club of Rome.)