Reflections on COP 27

In November 2022, COP 27 took place in Sharm El Sheikh. While the gathering made some progress in climate negotiations, notably on the longstanding issue of ‘loss and damage’, efforts to encourage countries to commit to more ambitious goals to limit emissions were unsuccessful. As COP closed, the combined goals of all country commitments (referred to as Nationally Determined Contributions, or NDCs) put the world on a trajectory of 2.5°C or higher global temperature rise by the end of the century.

That position will remain a key focus of conversations throughout 2023 as Global Stocktake reports are submitted. These national report cards aim to assess the world's collective progress towards achieving the Paris Agreement and its long-term goals. As such, they are widely expected to lay bare the gap between our collective ambition and the climate action needed to prevent the worst effects of climate change. With the United Arab Emirates hosting COP 28 in November 2023, there will be pressure to deliver greater ambition, drive action, and ensure that real progress is made.

The Road to COP 28

Perhaps, one of the more succinct expressions of what COP 27 achieved, and what it means for COP 28, was encapsulated in the title of an article in the Washington Post on November 21, which read “COP 27 yielded a historic climate fund. COP 28 must do more”. The United Arab Emirates (UAE) will be under pressure to deliver greater ambition, drive action, and ensure accountability.

COP 28 is going to be the most significant multilateral event the UAE has ever hosted. It will require a ‘whole of UAE’ effort and there will be several Government initiatives – and regulations – that may affect businesses announced in 2023. Expectations on UAE businesses and agencies will be high, and the UAE Government will be looking for examples of climate commitment, international partnerships around climate change and inclusive and innovative solutions. The need for action must be balanced with the calls for increased scrutiny and little tolerance for net-zero greenwashing.