What are the key outcomes of the COP27?
UN Secretary-General Guterres’ own words are very clear about the results of this COP27.
“We need all hands on deck for faster, bolder climate action. A window of opportunity remains open, but only a narrow shaft of light remains… We are getting dangerously close to the point of no return The global climate fight will be won or lost in this crucial decade – on our watch. One thing is certain: those that give up are sure to lose. So, let’s fight together – and let’s win. ”
Furthermore, on emissions, “We need to drastically reduce emissions now – and this is an issue this COP did not address.” So the world still needs string actions to end its addiction to fossil fuels, and this can be done by investing in renewables.
The most tangible result is the financial assistance for loss and damage in developing countries, without any doubt the major milestone of the COP27. “This COP has taken an important step towards justice. I welcome the decision to establish a loss and damage fund and to operationalize it in the coming period.”