Reflecting on COP27’s loss and damage fund agreement
Talk of progression and urgent solutions reverberated throughout the COP27 crowd, during the long-drawn-out summit, as leaders made a desperate bid to clinch climate deals.
Delegates from 190 countries gathered for the global climate conference in Egypt to discuss the required action to effect climate change adaptation, climate finance and decarbonisation. However, the event in Sharm-el-Sheikh overran by several days (making it the third longest COP in history) as leaders battled to thrash out agreements, giving cause for disheartenment in the wake of COP27 by the lack of certainty surrounding how progress can be accelerated.
Could the reallocation of human capital be a key solution to today's climate crisis?
Following the UN’s recent report announcing there is “no credible pathway to 1.5°C in place”, taking action to operationalise the Paris Agreement has never been more urgent.
The reality is that, despite the window dressing that says otherwise, the transition will only take place if long-term capital is funnelled into unequivocally credible decarbonisation-focused solutions.
The problem lies not in the fact that the market lacks these solutions, but in the startling truth that people without the necessary understanding, experience and skills have been tasked with orchestrating change quickly.