The 2022 United National Climate Change Conference (COP 27) has brought together delegates from across the world to discuss climate action. Importantly, this includes countries strengthening their Nationally Determined Contributions (NDCs).
NDCs embody efforts by countries to reduce national emissions, and are one of the principal ways in which countries commit to the 2015 Paris Agreement target of keeping below a 2°C change from pre-industrial temperatures.
A week prior to COP 27 the annual Emissions Gap Report was published. This was scathing in its criticism of countries’ efforts to reduce greenhouse gas emissions. The report modelled a 2.8°C temperature increase over the 21st century if business as usual is continued.
Even if existing NDCs are implemented, the report has modelled the temperature increase to be between 2.6°C and 2.4°C. These figures are far above the maximum 2°C target and will result in more intense and frequent natural disaster events which have already been seen this year through flooding and droughts.
One significant item that has made its way onto this year’s COP 27 meeting agenda is a discussion on loss and damage compensation which, if accepted, would see developed nations paying into a fund that would compensate developing countries for damages incurred during climate-fuelled extreme weather events.
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