Conference of Parties (COP27)
- The 27th round of the Conference of Parties, or COP27 is scheduled to be held from November 6th
- The annual summit comes at a crucial juncture against the backdrop of global inflation, energy, food and supply chain crises, fuelled by an ongoing war in Ukraine and exacerbated by extreme weather events, with data showing that the world is not doing enough.
- The United Nations Framework Convention on Climate Change, or UNFCCC, which was approved thirty years ago, is ratified by the attendees at COPs.
- The UNFCCC currently has 198 members.
- Berlin hosted the first COP in 1995. Several COPs have since made headlines for their groundbreaking accords.
- For instance, industrialised economies committed to limiting and reducing greenhouse gas emissions when the Kyoto Protocol was established at COP3 in 1997.
- The 2015 Paris Agreement, which was the result of COP21, a key conference, called for member nations to limit global warming to no more than 1.5°C over pre-industrial levels.
- The Glasgow Climate Pact, adopted at the conclusion of the previous conference held in Glasgow, advocated for the continued “phasing down” of coal power.
- The COP27 will consider whether wealthier nations that produce carbon dioxide should make up for the loss suffered by emerging nations that have lower carbon footprints in order to establish a global response.
- The summit’s four key areas of mitigation, adaptation, finance, and partnership aim to “accelerate global climate action through emissions reduction, scaled-up adaptation measures, and expanded flows of appropriate finance.”
- According to the presidential vision statement, COP27 will focus on transitioning from discussions and preparation to the execution of commitments made.
Source The Hindu