[co-author: Kerry Mackenzie]
The talks on the ninth day of COP 27 focused on youth, biodiversity, coastal zones and transport. Here’s what business leaders need to know to keep up to date with climate policy:
- The green groups are not interested in stopping the action at COP 27, referring to the commitments made by the leaders of the Group of 20 (G20) to show that it is possible to continue the climate process despite the conflicts of the world.
- Russian diplomats are being excluded from the COP 27 and G20 talks after an emergency with Poland. Leaders from several countries have refused to speak or take pictures with the Russian envoy, and many have made speeches condemning Russia’s attacks on Ukraine and the increased use of fossil fuels linked to the conflict.
- Japan has announced that more than 60 countries, including the United States, have joined its Sixth Action Partnership, which is set to get signatories to best practices and carbon market technologies.
- The Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) Simon Stiell thanked Japan for the effort, saying, “the effectiveness and speed of implementation of Article Six in the world can be a game changer in our efforts to combat climate change.”
- The European Union (EU) and Egypt agreed to cooperate and produce renewable hydrogen. The EU will help Egypt develop the necessary technology, infrastructure and skills needed to produce energy, much of which is planned to be imported.
- Egypt’s Minister of Oil and Minerals Tarek El Molla said about the deal, “[it] strengthening the importance of cooperation between different stakeholders to develop together and bring skills, resources, as well as technology to develop solutions to combat climate change.”
- 17 countries have committed to the 10-point Plan for Financing Biodiversity, pledging to increase funding for parks, protected areas, watershed management, replanting, forest management, wildlife conservation, ecosystem restoration, combating to endangered species, ensuring sustainable supply chains and other actions that will conserve biodiversity.
- The implementation of this plan will be discussed at the upcoming 15th meeting of the Conference of Parties to the Convention on Biological Diversity in Montreal from December 7 to December 15.