{"id":576984,"date":"2022-11-06T04:00:29","date_gmt":"2022-11-06T04:00:29","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/06\/its-cop-oclock-heres-everything-you-need-to-know\/"},"modified":"2022-11-06T04:00:29","modified_gmt":"2022-11-06T04:00:29","slug":"its-cop-oclock-heres-everything-you-need-to-know","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/06\/its-cop-oclock-heres-everything-you-need-to-know\/","title":{"rendered":"It\u2019s COP o\u2019clock \u2014 here\u2019s everything you need to know"},"content":{"rendered":"

<\/a> Everything you need to know as COP27 kicks off: <\/strong>Today is the first day of the two-week UN climate summit and Sharm El Sheikh is glowing green as it welcomes over 40k participants who registered to take part in the event.<\/p>\n

More than 120 world leaders will attend this year\u2019s COP<\/strong>, special representative for the COP27 presidency Wael Aboulmagd told reporters over the weekend, the Associated Press reports<\/a>. That includes US President Joe Biden<\/a> who will be in Sharm El Sheikh on 11 November.<\/p>\n

Several key figures will be absent:<\/strong> Neither Chinese President Xi Jinping<\/a>, Indian Prime Minister Narendra Modi, nor Russian President Vladimir Putin are listed on the provisional list<\/a> of speakers, while Canadian PM Justin Trudeau<\/a>, and Australian PM Anthony Albanese<\/a> have confirmed that they will not attend.<\/p>\n

Theme #1 of this year\u2019s COP: Doing, not talking. <\/strong>Implementation is the main theme for this year\u2019s COP, Aboulmagd said (watch, runtime: 8:59<\/a>), adding that it is time to start executing the Paris Agreement and other previously agreed climate pledges. \u201cIt's fine to show good intentions and get the headline. But if there's no follow-up, it becomes empty words and people start losing confidence in the entire process,\u201d he told S&P Global<\/a>, regarding the global pledge agreed at last year\u2019s COP to reduce methane emissions by 30% by 2030.<\/p>\n

Theme #2: Leave politics at the door. <\/strong>\u201cIt has to be a watershed moment where the world rises above differences that exist outside of the realm of climate change to come together to address what is perhaps the most universally acknowledged threat to humanity,\u201d Aboulmagd said. This comes amid rising tension between the US and China and further escalations in Russia\u2019s war with Ukraine. \u201cEveryone is now aware of the gravity of the situation, of the enormity of the challenge, and have come here hopefully to work together,\u201d he added.<\/p>\n

Theme #3: Climate finance for those on the frontlines. <\/strong>Developed nations have so far failed to fulfill their financing commitments to poorer countries, Aboulmagd said, adding that developing nations need tns of USD in financing and getting them to fund it through debt is not sustainable. Funding, including compensation for loss and damage, has been a major topic for policymakers we\u2019ve spoken with<\/strong> in the run-up to the summit, including Egypt climate czar Mahmoud Mohieldin (here<\/a> and here<\/a>).<\/p>\n

The World Bank weighed in with climate finance advice ahead of the summit:<\/strong> Developing countries can cut their emissions by 70% by 2050 if they invest an average of 1.4% of their annual GDP \u2014 a \u201cmanageable amount with appropriate private sector involvement,\u201d the World Bank said in its latest climate change and development report (pdf)<\/a>, which looks at how climate change impacts development goals in 20 developing countries. But low-income countries will need financing from richer economies in order to cover their investment needs for climate action, which in some cases amount to more than 5% of their GDP, the bank notes.<\/p>\n

Theme #4: Energy security. <\/strong>Each country needs to balance decarbonization targets with ensuring access to energy, Aboulmagd said, pointing to the role of gas as an increasingly accepted \u2018transition fuel.\u2019 He asserted developing nations\u2019 right to continue to exploit fossil fuels as they push for growth, but added that it\u2019s not constructive to pitch the debate as a battle between developed countries\u2019 climate goals and developing countries\u2019 need for growth.<\/p>\n

Will there be protests?<\/strong> Global media has been banging the drum about the likelihood of Egypt refusing to allow protests at COP, but AP reports that \u201cAboulmagd said activists will get their space, with special arrangements already put in place \u2018for those who want to organize demonstrations or protests or stand-ins.\u2019\u201d A large rally midway through the talks \u201cwill be taken care of\u201d if organizers \u201csubmit the names of contact persons\u201d and agree the protest march route with Sharm city officials, Aboulmagd added.<\/p>\n

US Secretary of State Anthony Blinken called on Egypt to allow civil society <\/strong>groups to participate in COP27<\/strong> during a phone call with Foreign Minister Sameh Shoukry, according to a State Department<\/a> readout of the conversation. The US\u2019 top diplomat said Egypt had made \u201ctangible progress\u201d on human rights but called on the government to continue to pardon detainees and improve due process. Shoukry said that authorities will allow NGOs and representatives from the private sector to participate in the summit, the Egyptian Foreign Ministry<\/a> said.<\/p>\n

KEY DATES-<\/strong><\/p>\n