The Carbon Column – Another COP out?

Is the loss and damage fund agreement enough to call COP27 a success or have we seen another failure from the leaders of our nations

Net Hero Podcast

Nature. The most important asset in the fight against climate change.

Yet we continue to destroy the things that are keeping us alive. The further nature is pushed, the more it will fight back by back causing damage and destruction to the most vulnerable.

We have seen this time and time again.

We need to use nature-based solutions to combat the biggest challenge of our time. To turn the tide against climate change and protect the most in need.

Taking action to mitigate any future issues and restore nature is something we all must do. Through small actions of individuals to large projects from companies and policy from governments.

Sometimes our actions are a little too late. We are reactive to climate change, instead of preventing the issues in the first place.

 

Loss and damage fund

One of the biggest talking points was how we are going to support nations after climate disasters.

The loss and damage fund agreed at the end of COP27 was exactly that. It is a fund design to help recover from climate disasters.

To agree how the funding will happen, a Transitional Committee will be established to make recommendations. The committee will be made up of 10 members from developed countries and 14 members from developing countries – to be nominated no later 15th December 2022.

This is moving things in the right direction but recommendations will be made for consideration at COP28. One year from now.

Although this shows progression, what damage is going to occur next year that will result in destruction to people’s lives?

I’m sat in my house knowing the impact of climate change won’t significantly impact my life next year. This isn’t the same for millions who are facing the effects today.

This agreement for a loss and damage fund may be one of the outcomes that can be argued to be a success. However, there has been no major progression on how we are going to stop the use of fossil fuels, the primary driver of climate change.

Until this is considered, I believe it is hard to argue COP27 was a success. This follows on from the failings of COP26.

How many more COPs do we need?

If you have any thoughts on the outcome of COP27 then please email me, as I’d be interested in hearing from you.