What is COP27?

The Earth Summit

In June of 1992, Rio de Janeiro in Brazil hosted 117 heads of state and representatives from 178 countries. It was the largest recorded gathering of world leaders. The reason. To strike a balance between economic development and the environment.

At that landmark United Nations Conference on Environment and Development -- better known as the ‘Earth Summit’ -- three conventions were set up. One was on biodiversity, one on desertification and one on climate change. 

Conference of the Parties or COP

Each of these conventions has a yearly Conference of the Parties, or COP, which sees signatory countries, called Parties, meet to assess progress and figure out how to move forward collectively.

The COP is the supreme decision-making body of the Convention. COP27 is the 27th meeting on climate change. The first one was held in Berlin in 1995. The COP meets every year, unless the Parties decide otherwise. 

There are now 197 Parties to the United Nations Framework Convention on Climate Change, all of whom have signed the Paris Agreement, the first global climate pact.

The Paris Agreement

Signed at COP21 in 2015, the Paris Agreement’s goal is to limit global warming to well below two degrees, preferably to 1.5 degrees Celsius, compared to pre-industrial levels.

COP-27 

Delegates from the 197 nations and territories are meeting from November 6 through November 18 in Egypt with the key aim of ensuring full implementation of the Paris Agreement.

According to the UN’s Intergovernmental Panel on Climate Change, CO2 emissions need to be cut 45% by 2030 to meet the central goal of the agreement.

  

For the first time, COP27 has placed “loss and damage” finance on the agenda since climate talks began decades ago. Developing countries, including India, small island nations, and several indigenous communities have been batting for a separate fund for loss and damage to tackle the extremes of climate caused by historic polluters.

Examples include damage from cyclones or drought, or permanent damage from rising sea levels or the drying up of rivers. In UN climate talks, the phrase “Loss and Damage” refers to costs already being incurred from climate-fuelled weather extremes or impacts.

At COP27, India is also calling on rich countries to live up to their promise of providing $100 billion in annual climate finance to developing nations.