Amy Clarke, Chief Impact Officer, for Citywire
If only one agreement is reached and delivered, it must be the provision of the much needed, and long overdue, annual $100bn (£89.1bn) to less wealthy nations for climate adaptation and mitigation.
It was promised in Copenhagen in 2009, due to be delivered by 2020 – and is still outstanding. Given increasing extreme weather events, the need for a just transition, and the fact COP27 is ‘Africa’s COP’, it’s critical this promise is delivered.
If financial support is made available for climate adaptation and mitigation, finance and business can step alongside to further support the just transition with increased portfolio exposure to renewables in emerging markets, as well as other climate critical infrastructure (e.g. energy efficiency, food security, circular economy).