This Wednesday (9), the main theme of COP27 was the finances.
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The day in Egypt began with a rhythm of demonstration: activists gathered to call for an end to the financing of fossil fuels, the redirection of this capital to renewable energy, climate financing from developed countries to the poorest and compensation payments for the damage caused by the changes climate.
At the same time, several developed countries havepromehad to release resources to cover the “losses and damages” caused by climate change in the most vulnerable countries.
New platform
Nobel Peace Prize winner and former US Vice President, Al Gore and CEO of WattTime, Gavin McCormick presented the new platform “Climate Trace“, a highly detailed global inventory of greenhouse gas emissions.
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The tool combines data and images from multiple satellite systems with artificial intelligence to determine actual emissions of greenhouse gases, including carbon dioxide (CO2) and methane, around the world.
According to the platform, greenhouse gas emissions from oil and gas would be three times higher than official data.
Promechinese
China – responsible for around a fifth of total global emissions – announced a new plan to reduce methane emissions in the energy, agriculture and waste sectors. Chinese envoy Xie Zhenhua said Beijing and Washington are having “informal talks” but that the United States has “closed the door” to climate talks and needs to reopen it. Xie also hinted that China could contribute to a “loss and damage” fund.
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It is worth remembering that US-China relations reached a new low this year after Nancy Pelosi visited Taiwan, over which China claims sovereignty.
New carbon trading scheme to boost investment in developing countries
John Kerry, the US climate envoy, announced a global energy trade initiative carbon credits which he said would be “critical” in helping developing countries transition to cleaner forms of energy. Kerry said the new scheme, called the Energy Transition Accelerator and launched in conjunction with the Rockefeller Foundation and the Bezos Earth Fund, would generate financing through “high-quality” voluntary carbon credits.
Indigenous voices ignored
A Torres Strait Islander Kulkalgal activist says Indigenous people are 'fighting for their homes' as conference discussions focus on climate finance. For him, the way the world tends to treat indigenous people is an insult. “It’s humiliating,” he said.
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Young Africans reconsider having children due to climate change
Nearly half of young people in Africa say they have reconsidered having children due to the climate crisis, according to a Unicef research (*) released this Wednesday (9).
According to the survey, globally, 2 in 5 young people said that the impacts of climate change made them reconsider their desire to start a family. This concern was greatest in African regions, with the highest percentage of young people reporting that they are reconsidering having children found in the Middle East and North Africa (44%) and Sub-Saharan Africa (43%).
Keep an eye on the schedule:
On Thursday (10), topics related to Science will be debated, based on documents such as the IPCC reports, and youth and future generations. On Friday (11), the topic of the day is decarbonization. Saturday (12) will be dedicated to the debate on climate adaptation and agriculture. The following week begins with discussions about gender and water, on the 14th. Tuesday (15th) is the day to talk about civil society and energy. On the 16th, the subject is biodiversity, and on Thursday (17th), climate solutions.
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The United Nations (UN) International Conference on Climate Change – COP27 – began last Sunday (6), in the Egyptian resort of Sharm el-Sheikh. COP is the UN's major annual event whose objective is to discuss actions aimed at combating climate change.
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