Insights and Lessons Learned from COP27

According to UNFCC (2022), COP27 resulted in countries delivering a package of decisions that reaffirmed their commitment to limit global temperature rise to 1.5 degrees Celsius above pre-industrial levels. The package also strengthened government action to cut greenhouse gas emissions and adapt to the inevitable impacts of climate change and boosted the support of finance, technology and capacity building needed by developing countries. The cover decision, known as the Sharm el-Sharm el-Sheikh Implementation Plan, highlights that a global transformation to a low-carbon economy requires investments of at least USD 4-6 trillion a year. Delivering such funding will require a swift and comprehensive transformation of the financial system and its structures and processes, engaging government, central banks, commercial banks, Institutional Investors and other economic actors.

This discussion paper presents the author's viewpoint on COP27 in Egypt. Evidence-based on constructive analysis was collected, as the researchers worked with academic institutions and led specialized workshops hosted by the National Institute of Governance and Sustainable Development (NIGSD). Attendance came from different backgrounds, such as industry, students, and academics. The researchers observed the COP27 event via newspapers, social platforms and conversations online with the local government and academics. This paper aims to provide critical views on COP27 and open dialogue for future avenues between government, businesses and policymakers. Using a conversation derived from masters' workshops hosted by NIGSD, Al Maktoum College of Higher Education, and other providers to form a catalyst for further actions.