Seven things everyone should know about COP27

As we globally close the door on COP27, we may feel overwhelmed by the amount of information that has been generated around it. Here are the seven key takeaways to remember:

What is COP?

COP stands for ‘conference of the parties’. It consists of the decision-making body responsible for monitoring and reviewing the implementation of the United Nations Framework Convention on Climate Change (UNFCCC). COP brings together 197 nations and territories – called parties – who are the signatories of the UNFCCC.

How often does COP happen?

The COP meets every year. However, the parties agreed that every five years they would come back together with an updated plan that would reflect the highest possible ambition, based on the most recent scientific findings and seek consensus.

What happened at COP26?

COP26 agreed the ‘Glasgow climate pact’. The Glasgow climate pact text called upon parties to accelerate the transition to low-emission energy systems. This included deployment of clean power generation and also efforts to reduce the use of coal and fossil fuels.

What were the main topics of conversation at COP27?

COP27 was structured around 11 thematic days, covering: finance, science, youth and future generations, decarbonisation, adaptation and agriculture, gender, water, ACE (action for climate empowerment) and civil society, energy, biodiversity and solutions.

What were the key outcomes of COP27?

• A fund for loss and damage was agreed. Now comes the difficult part, the deal does not mention how the fund would be set up, provisioned and delivered.
• At Glasgow, the urgent need to decarbonise to limit temperature rise at 1.5C was confirmed. This year, facing the challenge, some countries tried to withdraw from this goal. This backpedal failed to gain support, but a resolution to cause emissions to peak by 2025 was taken out.
• The final text of COP27 contained a provision to boost “low-emissions energy”. The directions to get there remain unclear, meaning that low emissions could be reached through wind, solar, nuclear power and coal-fired power stations fitted with carbon capture and storage. Gas could also be option, whilst it is still a major fossil fuel.
• Last year, phasing out the use of coal was mentioned. At COP27, some countries, led by India, pushed the boundaries and asked for the inclusion of a commitment to phase down ALL fossil fuels. The resolution failed. This might be the result of the presence of 636 lobbyists on site to defend coal, gas and oil, a 25% increase in fossil fuel lobbyists compared to COP26.
• Back in 2009, developed countries promised that by 2020 they would transfer $100 billion per year to vulnerable states hit by increasingly severe climate-linked impacts and disasters. The goal has been missed, but it is important to note that around $80bn was allocated. Within this fund, around $20bn is allocated for adaptation.
• The COP27 deal mentions “safeguarding food security and ending hunger” as a fundamental priority. The Glasgow Climate Pact did not mention agriculture, food or water. The IPCC’s latest report has shown that food systems are responsible for between 21% and 37% of global emissions. Sadly, opportunities for ‘carbon farming’ and land use change to make a contribution to climate mitigation tend be ignored.
  
  

What does COP27 mean for the built environment?

COP27 saw plenty of good new built environment initiatives from industry and investors. The WorldGBC Guide to Climate Resilience and Adaptation in the Built Environment was launched ahead of COP27 to provide actionable principles for implementing climate resilience and actionable strategies across the built environment value. One of the key topics at COP27 was the necessity of building climate resilience in the countries in the Global South.

But the lack of progress on a carbon reduction deal only creates more uncertainty. The 1.5 degree ambition appears to have been downgraded in importance so many businesses that have set science-based targets will feel let down by the negotiations. The UK Government was clearly pushing for a more ambitious deal, and this is encouraging, but the industry will now be watching carefully to see whether that translates into more ambitious domestic policy on new and existing buildings.

What’s next?

Next year, Dubai will be hosting COP28. The UAE sent 1,000 delegates to COP27, the largest country delegation by far – twice as much as the next largest, Brazil. They included multiple representatives from public relations, artificial intelligence and real estate firms. As many as 70 members of the Emirati delegation are linked to oil and gas companies. The UAE has declared its intention to achieve net zero emissions by 2050 and is committed to diversifying its energy mix.

What is clear is that we cannot wait for government to solve this problem, the industry needs to step up, capitalise on momentum and take a lead if we are to have any hope of keeping 1.5C ‘alive’.