What happened in COP 27?π§
Very Important for Prelims and Mains
Learn about the key takeaways from COP27 here!ππ
Save it to your notesπ (1/10)
Very Important for Prelims and Mains
Learn about the key takeaways from COP27 here!ππ
Save it to your notesπ (1/10)
Primary Agenda for COP27 - Climate Finance & Climate Justice
(2/10)
(2/10)
Key Outcomes:
1) Loss & Damage Fund - Financial assistance for loss and damage β money needed to rescue and rebuild the physical and social infrastructure of countries devastated by extreme weather - For Developing Countries
(3/10)
1) Loss & Damage Fund - Financial assistance for loss and damage β money needed to rescue and rebuild the physical and social infrastructure of countries devastated by extreme weather - For Developing Countries
(3/10)
2) Reaffirmed Adaptation Commitment - Building flood defences, preserving wetlands, restoring mangrove swamps and regrowing forests β these measures, and more, can help countries to become more resilient to the impacts of climate breakdown - Funding for these measures reaffirmed
3) Launch of Executive Early Warnings for All initiative
- Calls for initial new targeted investments of $ 3.1 billion between 2023 and 2027
- Announced by UN
4) Launch Master plans to accelerate decarbonization
5/10
- Calls for initial new targeted investments of $ 3.1 billion between 2023 and 2027
- Announced by UN
4) Launch Master plans to accelerate decarbonization
5/10
5) The FAST Initiative - Launch of the Food and Agriculture for Sustainable Transformation initiative (FAST) - To improve the quantity and quality of climate finance contributions to transform agriculture and food systems by 2030
6/10
6/10
India's Participation & Stand:
1) Announcement of a long-term strategy (LTS) for low carbon development
2) Addition of CO2 in its LTS
3) Hailed L&D Adoption
4) Prioritised 6 strategic sector for GHG removal - electricity, transport, urban, industry, CO2removal and forests
7/10
1) Announcement of a long-term strategy (LTS) for low carbon development
2) Addition of CO2 in its LTS
3) Hailed L&D Adoption
4) Prioritised 6 strategic sector for GHG removal - electricity, transport, urban, industry, CO2removal and forests
7/10
Issues with COP27:
- Limited support for the 1.5C target
- L&D fund has been established but the funding source and scale of this financial facility and its operating procedures have been left to a transitional committee which will present its report at COP-28 next year.
8/10
- Limited support for the 1.5C target
- L&D fund has been established but the funding source and scale of this financial facility and its operating procedures have been left to a transitional committee which will present its report at COP-28 next year.
8/10
- Only 'phase down' of coal
- Baseline of emission reduction not touched
9/10
- Baseline of emission reduction not touched
9/10
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