The 27th annual UN ‘Conference of the Parties’, COP27 aims to bring together world leaders in a global discussion to tackle climate change. A series of thematic days will centre around the reduction of emissions, helping countries to prepare for and deal with climate change and securing technical support and funding for developing countries for the above. This brief summary wraps up some of the key points made during the first week of the event.
9th November: Finance Day
Considered the cornerstone for implementing climate actions, finance has traditionally been at the heart of the UNFCCC process and the Paris Agreement negotiations. During the first day of COP27, climate justice and financing for loss and damage took centre stage. An announcement by new UK PM Rishi Sunak revealed a major new package of climate support.
Speaking at the event, he said, “The world came together in Glasgow with one last chance to create a plan that would limit global temperature rises to 1.5 degrees. The question today is: can we summon the collective will to deliver on those promises?”
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