Fossil fuel opposition builds at COP
As COP27 in Sinai concluded, civil society organizations and activists took a record number of stands against fossil fuels despite security restrictions.
It is important to increase the voice of the civilian global community across the globe. As a result of this, it is apparent that there is a growing awareness and concern among civilian global communities when it comes to the effects of climate change on the planet. As the second most well-attended climate conference in history, Sharm el-Sheikh was able to attract over 33,000 delegates with over 33,000 register delegates. With more than 1,000 members, the UAE leads the pack. This is due to is due to a large number of industry representatives joining the government delegations, along with a significant increase in official Government representatives.
Even though on the surface, there is reason for optimism that there will be enhanced industry engagement at the crucial climate change conference, concerns have been raised that lobbyists may deter the conference from making progress. According to a report released by Kick Polluters Out, a climate awareness group, the number of people registered from the fossil fuel industry well outnumbers those from the largest African delegations, which is an indication of the vast influence of the fossil fuel industry.
COP27 has attracted a record number of fossil fuel lobbyists – more than twice as many as the number of representatives from indigenous delegations – and those with a clear economic interest in preventing or delaying the energy transition may abort the essential talks due to their interest in blocking or delaying it. Due to the overwhelming number of bad actors, there is a risk that the voices of those most affected by the effects of global warming caused by their industries will be drowned out by the opinions of the bad actors.
A fossil fuel company’s lobbying influence is greater than that of a nation or community living in the frontline who rely on fossil fuels for their livelihoods. “The delegations from African countries and indigenous communities are dwarfed by delegates representing corporate interests at COP27 who are directly opposed to what is required to slow the climate crisis in order to prevent it from turning into a catastrophe.”= Kick Polluters Out (Big Polluters at COP27).
It is the goal of Kick Polluters Out, a global group comprised of over 450 international climate organisations. We urge the United Nations Framework Convention on Climate Change to establish an Accountability Framework. This will enable us to prevent those involved in the fossil fuel industry from adversely affecting climate policy. We need to make sure that NGOs and those who work on the frontlines of the climate crisis’ voices are heard loudly and clearly. This will enable us to achieve a just and equitable transition.
A number of human rights organisations raised concerns from the outset about the possibility of arresting activists and surveillance by social media. This included concerns about the official app that was being used for the event, in addition to concerns about transport links and the prohibitive cost of the event. While this has not deterred passionate campaigners from taking up the cause, it has not stopped them.
In the #FossilFreeCOP27 campaign, led by the Climate Action Network-International (CAN), they are calling for the end of all fossil fuel use by the year 2050, with a view to eradicate them all by then. As a global civil society network, CAN consists of over 1800 member organisations located around the world; all of which have pledged to fight the climate crisis through just transitions between different energy systems. CAN was one of the NGOs that participated in the campaign to prevent public money being used to support fossil fuel investments by German government earli2022. This was 2022, in an attempt to persuade Germany to take more ambitious climate action. Following the COVID-19 pandemic, the group focuses on how governments can address multiple crises, including climate change, in an equitable manner by transforming economic, social, and political systems.
The CAN’s joint campaign against climate change at COP 27 and now Recourse’s lobby group have both strongly critiqued the Joint Statement of Multilateral Development Banks (MDBs) on Climate at COP 27 released last week by the MDBs. MDP’s statement made no reference to the fact that investments into fossil fuels are currently higher than investments in renewable energy sources, which is an extremely relevant fact. In addition, the groups noted that the stated target of 1.5 degrees Celsius that was specified in the Paris Agreement was not included in the statement. Neither were the methods for climate alignment used by members. There is a risk that lofty statements related to achieving true momentum on climate action may lack quantifiable goals thatThis may be due to the lack of ase they may lack a plan for achieving them.
As a result of exposure, emissions are produced
It was clear that the theme of COP27 ‘Finance Day’ would be fossil fuels and the energy transition to a low-carbon economy. In addition to protestor calls to stop funding fossil fuels, developments in artificial intelligence (AI) technology have aided in the launch of a comprehensive, independent emissions tracker called Climate Trace in tandem with protestor calls to stop funding fossil fuels.
According to the report on satellite emissions, the first part of the study analyzes the locations of over 70,000 CO2 emitters based on satellite data. A recent study found that oil and gas fields made up half of the 50 largest polluters in the world.
There has also been the launchunch of the Global Registry of Fossil Fuels earlier in 2022 by Carbon Tracker and Global Energy Monitor, the first international database of fossil fuel production and reserves – designed to verify how the use of these reserves affects the global carbon budget – in order to track the impact of fossil fuel production on the carbon budget around the world. In addition to Mark Campanale, the founder of Carbon Tracker, he also spoke at COP27 on panels about the energy transition and its impact on the finance sector. This is. This was a result of moving away from petroleum as an energy source.
Luisa Neubauer, a German youth activist, in her UNICEF press conference speech, urged leaders to come here and talk about climate justice while fossil fuel funding is exploding and it is quickening climate change to occur.”
As I mentioned earlier, the “Glasgow Climate Pact”, signed at COP26 last year, explicitly included fossil fuels, with a commitment to phase out coal power and fossil fuel subsidies which are inefficient and inefficient. A recent study conducted by UNEP indicates that the emissions gaps between the commitments of countries to climate change (Nationally Determined Contributions) and the greenhouse gas emission targets required to limit global warming to 1.5°C are wide.
As per Climate TRACE, there has been a substantial underestimation of emissions from the oil and gas sector. This is so much so that the total footprint of emissions may have been three times greater than what has been reported up to now
Throughout the climate conversation and the COP27 focus, more attention has been paid to the need for heightened accountability and reporting. A report published by Carbon Tracker in 2022, titled ‘Still Flying Blind’, demonstrates that companies that have pledged to act on climate change 100+ times fail to disclose how their financial statements reflect the true impacts of climate change risks. There has been considerable improvement in the disclosure of information since the last Glasgow summit in 2021, however, a number of companies do not provide sufficient information to meet the relevant standards.
The New Zealand Financial Alliance for Net Zero, founded at COP26, conducted a review of the financial sector in the country. It found that 60% of companies have yet to make a commitment to net zero as they have not yet taken any commitments. As part of the Financial Sector Implementation Plan at COP27, GFANZ released a comprehensive framework. The purpose of this framework is to provide support to the financial sector during the transition to net zero. It is essential to remove reliance on fossil fuels; however, in order to do so, a shift away from oil and gas investments is a necessity that must be made in order to reach the ultimate goal.
Mark Carney, Co-Chair of the GFANZ and UN Special Envoy for Climate Action and Finance, announced at the launch of the initiative: “Accountability extends to governments and international financial institutions, who have demonstrated real-world experience in tackling climate change for a long time and now must step up their efforts.”
Prachi, an accomplished Chief-Editor at The Sustainable Brands Journal, has 15+ years of experience in Europe, the Middle East, and India, managing 90+ global sustainable brands. She’s a prolific writer in sustainability, contributing to various publications. Prachi’s unwavering passion and expertise make her a recognized authority, driving positive change and inspiring a sustainable future.
