Climate Change: "The COP27 Agreements".

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This 2 December marks the first ever “World Future Day”, a day to reflect and think about development initiatives. Climate change is one of the main challenges facing humanity. In our weekly FlashCards, we summarize the key points agreed at this year's Climate Summit (COP27).
Andrea Pan
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Andrea Pan
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What is COP27? It is the United Nations Climate Change Conference held in Sharm el Sheikh (Egypt) under the theme “Together for Implementation”, with the aim of renewing and extending the agreements reached in the historic Paris Agreement.
How are commitments agreed? At these summits, agreements are reached unanimously, which means that for a pact to be reached, almost 200 participating countries must agree, and the refusal of a single nation can block such an agreement.
Loss and damage fund They agreed that a fund will be set up to make reparations to countries that are suffering the most from the consequences of global warming and have contributed the least to it.
What do the words “loss and damage” mean? The term covers both economic losses (homes, land, farms, or businesses) and non-economic losses (the death of people, cultural sites or biodiversity).
1.5 degrees The target of a maximum temperature rise of 1.5 degrees above pre-industrial levels was maintained, but without stronger references to what the science says about the impact of exceeding that limit.
Why is it so important that global temperatures do not rise by more than 1.5 °C? Each increase causes more damage and more loss of life. Above an increase of 1.5 °C, these effects start to occur in a non-linear fashion. With an increase of 2 °C, for example, coral reefs virtually disappear.
Emissions During the summit, the biggest announcement (criticized, however, as “insufficient” by environmental groups) came from the EU, which raised the bar from 55% emission reductions to 57% by 2030.
Fossil fuels More than 600 lobbyists from the oil and gas industry set a new record at COP27, but no commitment to “phase out” has been reached.
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