Sharm Al Sheikh. A warm,quite town on the coasts of Egypt. The town has been in discussion since a last couple of weeks. COP 27 i.e. Conference of Parties 27 has been recently concluded here. As delegates have departed, the discussions about the outcomes of Sharm Al Sheikh Summit are happening on the high tables of the world. COP summits have been intrinsic part of climate change mitigation efforts and global politics around them. Institutionalized in 1995 as part of United Nations Conference on Climate Change (UNFCC) to negotiate Kyoto Protocol, annual COP summits have been discussing about carbon emission reduction strategies, mechanisms and other pressing issues related to environmental crisis.
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COP 27 was held after a COP 26 at Glasgow last year which saw Global Methane Pledge, announcements of Net Zero carbon targets etc. COP 27 witnessed more radical gaps between developing and developed world i.e Global South and Global North over issues of climate finance and responsibility of developed world to help developing world in the transition towards carbon free economies. While Kyoto Protocol codified principle of "Common But Differentiated Responsibilities in Respective Capabilities" for emission reductions, the debate over what is Common and what is Differentiated still goes on.
This difference percolates in the area of Climate Finance as well. In Copenhagen COP in 2009, developed world had promised to fund mitigation efforts by $100 billion annually. The fund haven't been materialized yet. Meanwhile Paris Deal in 2015 sets target of "substantially reduce global greenhouse gas emissions to limit the global temperature increase in this century to 2 degrees Celsius while pursuing efforts to limit the increase even further to 1.5 degrees." As years pass on, climate change cannot wait for the next COP to arrive at consensus to increase efforts to mitigate its impact. Climate change events like melting of glaciers, forest fires, droughts have been intensified only.
Here we come to Sharm Al Sheikh. countries which have experienced wrath of nature without their fault, the most vulnerable ones come together to form V20 grouping in 2015. V20 group have been the most vocal one in COP 27. G7, the group of advanced economies even agreed with V20 countries to set up The Global Shield against Climate Risks. This arrangement is an initiative for pre-arranged financial support designed to be quickly deployed in times of climate disasters.” Initial contributions exceed EUR 210 million.
Here is the break in the story of COP summits. There has been numerous funds like this set up with the help of global institutions and nations. The issue is in the implementation and sustainability of such initiatives.
Much acclaimed achievement in COP 27 has been discussed is that of Loss and Damage Fund. In the area of climate finance, this has been considered as a landmark. The fund will support countries which are most vulnerable to climate disasters such as SIDS (Small Island Developing States) and also nations who have been the least responsible for global warming. Disaster ridden countries like Bangladesh, Nepal will also benefit. Pakistan who suffered from deadly floods taking huge toll on human lives there will be also included in Loss and Damage Fund.
There has been different opinions whether developing nations like India and China who are also largest emitters shall benefit from this. While developed world have emphasized that both should contribute to funds, India and China has been clear that though they would support world efforts, the climate change mitigation efforts shall not burden their growing economies.
The another significant development is of the introduction of proposals to 'phase out' all the fossil fuels. In COP 26, only coal has been part of the discussion of 'phase down' and 'phase out'. Though agreement couldn't reach to consensus on which basis COP summit takes decision, in principle, the development itself proved significant. The largest economies depend on gas and oil. As UN Secretary General Antonio Guterres pointed out, 'to achieve this, we need 'Just Energy Transition Partnerships.'
India's stand at COP 27 have been proactive and agenda setting. Not only it actively vouched for Loss and Damage Fund but also it proposed 'phasing down' all fossil fuels. It also released 'National Statement' . The statement didn't mention specific targets as such as it had in Glasgow through 'Panchamrit' strategy. The statement mentions, " India updated its Nationally Determined Contributions in August 2022. We have embarked on far-reaching new initiatives in renewable energy, e-mobility, ethanol blended fuels, and green hydrogen as an alternate energy source."Also it emphasized on LiFE mission (Lifestyle for Environment) focusing on behavioral change.
Another strategy India has constantly supported is of Coalitions like International Solar Alliance and the Coalition for Disaster and Resilient Infrastructure (CDRI). This gives leverage to its own way to have international cooperation in its 'enlightened self interest.'
COP 27 thus changed the way international climate change negotiations take place. Loss and Damage mechanism has been ray of hope, though its not clear who will fund it except vague mention of developed nations, philanthropists and private sector. Developed nations however now have moral responsibility for the climate disasters in vulnerable nations. Phasing down all fossil fuel usage proposal will have long term implications as the world is waking up to get ready for transition journey to renewables.
Decades ago it was narrative that global warming will take toll on us, if we, the citizens of the earth don't take efforts to mitigate it. Now, global warming has been there. Climate change is there for real. Thus, COP s will keep happening. COP 27 have shown that diplomatic, political cooperation is possible. Our job now is to get ready for climate resilient future as a human society.
A movie, A Day After Tomorrow depicts the reality of how world will be if don't act now. The movie however doesn't only show another ice age. Its following dialogue tells a story of how humans have survived so far. Jack Hall, protagonist in the movie is asked that what would happen to civilization if there is a next Ice Age. Hall answers, "well, mankind survived the last Ice Age, we are certainly capable of surviving this one. The only question is will we learn from our mistakes?"
