COP27: Significant Announcements Coming Out of UN Climate Conference

UN Climate Conference (COP27) was held during November month in Egypt's Sharm El-Sheik, with world leaders, business leaders, NGOs, activists, and more descending on the Scottish city for what has been described as our last best chance to combat the climate crisis before it's too late.

Here's a running list of the most ambitious climate commitments being announced at COP27 in Egypt bellow:

Countries launched a package of 25 new collaborative actions in five key areas: power, road transport, steel, hydrogen and agriculture.

UN Secretary-General António Guterres announced a USD 3.1 billion plan to ensure everyone on the planet is protected by early warning systems within the next five years.

The UN Secretary-General’s High-Level Expert Group on Net-Zero Commitments published a report at COP27, serving as a how-to guide to ensure credible, accountable net-zero pledges by industry, financial institutions, cities and regions.

A G7-led plan called the Global Shield Financing Facility was launched at COP27 to provide funding to countries suffering climate disasters.

Announcing a total of USD 105.6 million in new funding, Denmark, Finland, Germany, Ireland, Slovenia, Sweden, Switzerland, and the Walloon Region of Belgium, stressed the need for even more support for the Global Environment Facility funds targeting the immediate climate adaptation needs of low-lying and low-income states.

The new Indonesia Just Energy Transition Partnership, announced at the G20 Summit held in parallel with COP27, will mobilize USD 20 billion over the next three to five years to accelerate a just energy transition.

Important progress was made on forest protection with the launch of the Forest and Climate Leaders’ Partnership, which aims to unite action by governments, businesses and community leaders to halt forest loss and land degradation by 2030.