{"id":74717,"date":"2022-11-09T02:12:23","date_gmt":"2022-11-09T02:12:23","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2022\/11\/09\/cop27-presidency-launches-the-sharm-el-sheikh-adaptation-agenda\/"},"modified":"2022-11-09T02:12:23","modified_gmt":"2022-11-09T02:12:23","slug":"cop27-presidency-launches-the-sharm-el-sheikh-adaptation-agenda","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2022\/11\/09\/cop27-presidency-launches-the-sharm-el-sheikh-adaptation-agenda\/","title":{"rendered":"COP27 Presidency launches the Sharm El Sheikh Adaptation Agenda"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Adaptation was the big theme of discussions at the<\/strong><strong> COP27 leaders\u2019 summit yesterday.<\/strong> Day three of COP27 saw speakers and organizers hone in on the need for meaningful measures on adaptation and more climate finance for communities vulnerable to climate change.<\/p>\n<p><strong>The highlights:<\/strong><\/p>\n<ul>\n<li><strong>Adaptation agenda unveiled:<\/strong> The COP27 Presidency took the lid off an ambitious new agenda that aims to mobilize USD 140-300 bn in public and private sector funding for adaptation and resilience by 2030.<\/li>\n<li><strong>Calls for adaptation-focused investment:<\/strong> Bold-name speakers \u2014 including US climate envoy John Kerry, Pakistan\u2019s Prime Minister Shehbaz Sharif, and Gates Foundation CEO Mark Suzman \u2014 called for more adaptation-focused investment.<\/li>\n<li><strong>More discussions of adaptation:<\/strong> Two of the three high-level roundtable discussions held \u2014 <a href=\"https:\/\/cop27.eg\/assets\/files\/days\/COP27%20WATER%20SECURITY-DOC-01-EGY-10-22-EN.pdf\">water security (pdf)<\/a> and climate change and the sustainability of <a href=\"https:\/\/cop27.eg\/assets\/files\/days\/COP27%20CLIMATE%20CHANGE-DOC-01-EGY-10-22-EN.pdf\">vulnerable communities (pdf)<\/a> \u2014 were strongly adaptation-themed.<\/li>\n<li><strong>The pool of financing earmarked by rich nations for loss and damage grows \u2014 kinda.<\/strong> Austria became the fifth country to commit to loss and damage financing, following pledges from Germany and Belgium on Monday. (More on that in our next story, below.)<\/li>\n<\/ul>\n<p><strong>In terms of catchy COP27 soundbites, von der Leyen trails behind Guterres: <\/strong>European Commission President Ursula von der Leyen\u2019s call for accelerated action on climate change yesterday was (let\u2019s be honest) nowhere near as catchy as the call by UN Secretary General Antonio Guterres \u2014 who spoke of the world being on the \u201chighway to hell\u201d \u2014 the day before. \u201cThe global fossil fuel crisis must be a game changer. So let us not take the \u2018highway to hell\u2019 but let's earn the clean ticket to heaven,\u201d von der Leyen told the summit (<a href=\"https:\/\/youtu.be\/7Xgug8VR9n4?t=278\">watch, runtime: 4:15<\/a>).<\/p>\n<p><strong>ADAPTATION ROADMAP- <\/strong><\/p>\n<p><strong>The COP27 Presidency yesterday launched the <\/strong><strong><a href=\"https:\/\/climatechampions.unfccc.int\/wp-content\/uploads\/2022\/11\/SeS-Adaptation-Agenda_Complete-Report-COP27_FINAL-1.pdf\">Sharm El Sheikh Adaptation Agenda (pdf<\/a><\/strong><strong><a href=\"https:\/\/climatechampions.unfccc.int\/wp-content\/uploads\/2022\/11\/SeS-Adaptation-Agenda_Complete-Report-COP27_FINAL-1.pdf\">)<\/a><\/strong> <strong>for<\/strong><strong> collective adaptation action<\/strong>, in partnership with the UN climate change high-level champions, it announced in <a href=\"https:\/\/ent.news\/2022\/11\/COP27-Presidency-launches-Sharm-El-Sheikh-Adaptation-Agenda.pdf\">a statement (pdf)<\/a>. The agenda is a clear bid to zoom in on the need to provide adaptation support to climate change-ravaged communities. It is the \u201cfirst comprehensive global plan to rally both State and non-State actors behind a shared set of adaptation actions that are required by the end of this decade,\u201d the statement notes.<\/p>\n<p><strong>The ultimate goal?<\/strong> Protecting \u201cclimate vulnerable\u201d communities from \u201crising climate hazards, such as extreme heat, drought, flooding, or extreme weather,\u201d according to the statement. It identifies 30 adaptation outcomes designed to increase resilience by 2030 \u2014 targeting some 4 bn people, the statement tells us.<\/p>\n<p><strong>How will it do this?<\/strong> By putting forward \u201cglobal solutions\u201d \u2014 presumably, the action points of each of the 30 adaptation outcomes \u2014 that can be tailored to the needs of local communities. These focus on food and agriculture, water and nature, coasts and oceans, human settlements, and infrastructure \u2014 and include proposed action for the all-important areas of planning and finance, the statement notes.<\/p>\n<p><strong>Some key 2030 targets:<\/strong><\/p>\n<ul>\n<li><strong>Mobilizing USD 140-300 bn from the public and private sectors for adaptation and resilience.<\/strong> Providing at least USD 10 bn per year in \u201cinnovative finance\u201d to increase access to clean cooking for 2.4 bn people.<\/li>\n<li>Protecting 3 bn people through \u201c<strong>smart and early warning systems<\/strong>.\u201d<\/li>\n<li><strong>Increasing agriculture yields by 17%<\/strong> and reducing farm-level greenhouse gas emissions by 21%, through a shift to \u201cclimate resilient, sustainable agriculture.\u201d<\/li>\n<li><strong>Preservation of land\u2026 <\/strong>Protection and restoration of an estimated 400 mn hectares of \u201ccritical\u201d land and freshwater ecosystems. <\/li>\n<li><strong>\u2026and mangroves: <\/strong>Channeling USD 4 bn into protection of 15 mn hectares of mangroves.<\/li>\n<\/ul>\n<p><strong>DECARBONIZATION- <\/strong><\/p>\n<p><strong>Remove trade barriers for low-carbon tech, says WTO: <\/strong>The World Trade Organization needs to tackle trade barriers impeeding the sharing and use of low-carbon technology, as part of overall decarbonization efforts, according to <a href=\"https:\/\/www.wto.org\/english\/res_e\/booksp_e\/wtr22_e\/wtr22_e.pdf\">a report (pdf)<\/a> it published on Monday, with Director General Ngozi Okonjo-Iweala echoing the message in a <a href=\"https:\/\/www.reuters.com\/business\/cop\/wto-should-attack-trade-barriers-low-carbon-transition-chief-2022-11-07\/\">Reuters<\/a>interview. Tariffs for low-carbon industries are often higher than carbon-intensive ones, the report notes. Eliminating such barriers could boost global exports in clean tech \u2014 like solar panels or smart heating controls \u2014 by 5% by 2030, it adds.<\/p>\n<p><strong>Okonjo-Iweala wants to revive negotiations on a global environmental trade agreement,<\/strong><strong> which stalled in 2016<\/strong>, she <a href=\"https:\/\/www.reuters.com\/business\/cop\/cop27-wto-chief-seeks-revive-green-trade-talks-2022-11-08\/\">told Reuters<\/a>. WTO discussions on how to use trade mechanisms to promote emissions reduction should also include services \u2014 like air pollution mitigation and wastewater treatment \u2014 she added.<\/p>\n<p><strong>OTHER PLEDGES-<\/strong><\/p>\n<p><strong>Kuwait aims to be net-zero by 2060:<\/strong> Kuwait is making \u201ca solid, serious pledge\u201d to achieve carbon neutrality in its oil and gas sector by 2050 and in the whole country by 2060, Foreign Minister Salem Al Sabah told state news outlet <a href=\"https:\/\/www.kuna.net.kw\/ArticleDetails.aspx?id=3066905&Language=en\">KUNA<\/a> on Monday.<\/p>\n<p><strong>Standard Chartered, African countries seek to \u201cdramatically expand\u201d use of carbon<\/strong><strong> credits in Africa:<\/strong> A group of African countries, along with Standard Chartered, are backing an <a href=\"https:\/\/climatechampions.unfccc.int\/africa-carbon-markets-initiative\/\">initiative<\/a> that would see 300 mn carbon credits produced on the continent annually by 2030, and 1.5 bn by 2050, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-08\/cop27-latest-japan-stalls-once-again-on-carbon-tax-reforms?srnd=green&leadSource=uverify%20wall\">Bloomberg<\/a>noted. The countries involved include Kenya, Malawi, Gabon, Nigeria and Togo.<\/p>\n<p><strong>Norway goes big on shipping emissions reduction targets:<\/strong> Norway is aiming to slash its shipping emissions by 50% by 2030, adding new detail on Monday to the \u201c<a href=\"https:\/\/www.nho.no\/tema\/energi-miljo-og-klima\/artikler\/green-shipping-challenge\/\">Green Shipping Challenge<\/a>\u201d agreement it signed with the US in May this year, maritime news outlet <a href=\"https:\/\/www.rivieramm.com\/news-content-hub\/cop27-norway-aims-for-50-shipping-emissions-cut-by-2030-73680\">Rivera News<\/a> reported. Norway also joined the <a href=\"https:\/\/www.cleanenergyministerial.org\/a-new-clean-energy-marine-hubs-announced-at-the-gcaef\/\">Clean Energy Marine Hubs<\/a> (CEM-Hubs) \u2014 a global green maritime fuel initiative of which only the UAE, US and Canada were previously members, after it launched earlier this year \u2014 along with Panama and Uruguay, the news outlet added.<\/p>\n<p><strong>OTHER COP NEWS-<\/strong><\/p>\n<p><strong>The renewable energy sector is poised for huge growth as it emerges as a solution to<\/strong><strong> both climate change and energy security risks<\/strong>, former Bank of England Governor Mark Carney told Bloomberg TV in an interview yesterday (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-08\/carney-sees-wall-of-opportunity-in-energy-markets-amid-crisis\">watch, runtime: 10:23<\/a>).<\/p>\n<p><strong>Apple and PepsiCo have joined the ranks of a corporate buyers club that\u2019s committed<\/strong><strong> USD 12 bn to purchase low-carbon steel and aluminum<\/strong>, among other products \u2014 all in the hope of \u201cgreenifying\u201d supply chains, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-08\/cop27-latest-japan-stalls-once-again-on-carbon-tax-reforms?srnd=green&leadSource=uverify%20wall\">Bloomberg<\/a>reports.<\/p>\n<p><strong>Corporate climate pledges slammed by UN group: <\/strong>17 UN experts appointed by the UN\u2019s Guterres at COP26 to \u201creview the integrity of non-state net-zero commitments\u201d have concluded that net-zero emissions pledges by companies, banks and cities are \u201crife with greenwashing,\u201d in <a href=\"https:\/\/www.un.org\/sites\/un2.un.org\/files\/high-level_expert_group_n7b.pdf\">a report (pdf)<\/a> released yesterday. \u201cToo many of these net-zero pledges are little more than empty slogans and hype,\u201d group chair Catherine McKenna said at a presser, according to <a href=\"https:\/\/www.reuters.com\/business\/cop\/un-experts-cop27-corporate-climate-pledges-rife-with-greenwashing-2022-11-08\/\">Reuters<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Adaptation was the big theme of discussions at the COP27 leaders\u2019 summit yesterday. Day three of COP27 saw speakers and organizers hone in on the need for meaningful measures on adaptation and more climate finance for communities vulnerable to climate change. The highlights: Adaptation agenda unveiled: The COP27 Presidency took the lid off an ambitious [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":74718,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1230],"tags":[1229,659,11],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-74717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cop-watch-public-policy","tag-cop-watch-public-policy","tag-cop27","tag-enterpriseclimate","wpautop","entry"],"acf":{"mongo_id":"4a0b177a-fb45-4c10-9e13-062a7c327905","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/6768.jpg","photo_position":"above","related_issue":[74713],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>COP27 Presidency launches the Sharm El Sheikh Adaptation Agenda - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/09\/cop27-presidency-launches-the-sharm-el-sheikh-adaptation-agenda\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"COP27 Presidency launches the Sharm El Sheikh Adaptation Agenda\" \/>\n<meta property=\"og:description\" content=\"Adaptation was the big theme of discussions at the COP27 leaders\u2019 summit yesterday. 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