Renewable Market Watch™ Participates in COP27 Conference in Sharm El Sheikh, Egypt
/SHARM EL-SHEIKH, November 7, 2022, 9:00 GMT, RENEWABLE MARKET WATCHTM/ Renewable Market Watch™ participates in COP27 Conference in Sharm El Sheikh, Egypt. The 2022 United Nations Climate Change Conference or Conference of the Parties of the UNFCCC, more commonly referred to as COP27, is the 27th United Nations Climate Change Conference and is being held from 6 November until 18 November 2022 in Sharm El Sheikh, Egypt. It is taking place under the presidency of Egyptian Minister of Foreign Affairs Sameh Shoukry, with more than 90 heads of state and an estimated 35,000 representatives, or delegates, of 190 countries expected to attend. It is the first climate summit held in Africa since 2016. The conference has been held annually since the first UN climate agreement in 1992. It is used by governments to agree on policies to limit global temperature rises and adapt to impacts associated with climate change.
The ultimate goal of the 2022 COP27 is in dispute. Wealthy countries will focus on ways to help developing nations phase out fossil fuels and transition to renewable energy. However, tensions between richer, developed countries and poorer nations, the latter of which bear the brunt of climate impacts, over who should pay the costs of global warming, are also expected to define the conference.
Renewable Market Watch™ will participate on 14 November 2022 at the "Opening of the EU Energy Day: Accelerating the green transition to power out of the energy crisis within the COP27" programme. As the world faces the existential threat of climate change and a burgeoning energy crisis exacerbated by Russia’s unprovoked and unjustified military aggression to Ukraine, accelerating the decarbonisation of the energy systems is the only way to simultaneously ensure sustainable, secure, and affordable energy in the European Union. Against this background, this opening event will set the scene of the EU energy day, encompassing many of the topics to which specific events are subsequently devoted.
The IPCC has warned that we are entering code red for humanity: 2°C warming will be exceeded within this century unless we make deep reductions in GHG emissions. Global political will, supported by science heading to a paradigm shift through just an ambitious transformation. IPCC has provided credible science, successive COP decisions laid out the collective governmental actions, The Convention and its agreements outlined the principles, legal obligations and guidelines for collective action.
Recent IPCC reports have highlighted the gravity of the climate crisis and the need for immediate and sustained political will, impactful action and effective cooperation. Building on Glasgow's momentum, we seek to further enhance the scope of deliverables across the climate action agenda.
In addition to its main responsibilities related to the meetings of the COP, CMP and CMA and supporting Parties in advancing their agreed agendas through consensus, the Egyptian Presidency is keen to ensure that COP sessions provide a space for serious interaction and engagement with all stakeholders to integrate their views and contributions into the overall global effort to combat climate change.
With this in mind, the incoming Egyptian COP27 Presidency has identified a range of topics focused on enhancing implementation and raising ambition on a broad range of issues related to climate change. Egypt has designated several thematic days for focused discussions, including side events, panel discussions, round tables and other interactive formats to deliberate on and share with the wider audience.
Furthermore, COP21 in Paris and COP25 in Madrid specifically mandated the Presidency to work with the Executive Secretary, and with the support of the High-Level Champions, to organize a high-level event on Climate Action. The COP and CMA have also mandated convening a range of high-level events to complement the formal negotiations process to enable greater understanding among stakeholders and to mobilize accelerated implementation of the Convention and the Paris Agreement.
The Renewable Market Watch™ supports the COP27 in Egypt and will employ all necessary efforts to popularise this important initiative.
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Renewable Market Watch™ is delivering strategic insight into emerging renewable energy markets through its experienced research team and cutting-edge predictive analytics data platform. We partner with our customers to provide research, data and consulting reports in areas appropriate to their specific requirements. Our primary focus is emerging renewable energy markets in Asia Countries, Balkan countries, Central and Eastern Europe, CIS states (formerly the Soviet Union), LATAM countries, and MENA countries. For more information about Renewable Market Watch™, please visit: