COP27

COP27, the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), was held in Sharm El-Sheikh, Egypt, from November 6 to 18, 2022. It brought together representatives from nearly 200 countries, along with negotiators, civil society, and businesses, to advance action on climate change under the Paris Agreement framework. The conference aimed to translate the outcomes of COP26 in Glasgow into concrete measures, with emphasis on support for developing countries, adaptation, resilience, and clearer finance provisions.

A central outcome was the Sharm El-Sheikh Climate Package, which included a decision to establish a dedicated funding facility to address loss and damage suffered by vulnerable nations due to climate change. Negotiations sought to define the governance, sources of funding, and operational modalities for this facility, with design details to be refined in later meetings. The package also reinforced commitments on adaptation and resilience and called for enhanced climate finance to close the gap between pledged and required support. While COP27 reaffirmed existing pledges and mechanisms, it did not produce a large new set of emission reduction targets, and emphasis remained on transparency, monitoring, and accelerated action.

Reactions to COP27 were mixed. Supporters highlighted the formal acknowledgement and funding framework for loss and damage as a breakthrough for vulnerable countries, while critics argued that deeper cuts in greenhouse gas emissions and more binding financing commitments were still needed. The conference underscored ongoing negotiation on finance and risk management, with the design of the loss and damage mechanism anticipated to continue evolving in subsequent meetings.