COP27 took place last year in Sharm el-Sheikh, Egypt. The GI Hub's CEO, Marie Lam-Frendo, and our Director of Engagement, Rory Linehan, were in attendance to highlight the importance of scaling up private investment in sustainable infrastructure to achieve global climate targets, and to highlight the importance of decarbonsing beyond renewables to reduce the significant climate footprint of the sector. Read more about our activity on the ground at COP27 here.
Although there were many issues on the table that were not advanced at COP27, there was progress in some key areas, including the historic decision to establish a fund responding to loss and damage. This fund aims to provide financial assistance to nations most vulnerable and impacted by the effects of climate change.
Many claim this to be a significant milestone in the history of COP as it comes almost three decades since proposed, setting a precedence for climate/environmental justice. However, details over how the fund intends to operate and support countries, especially in the Least Developed Countries and Small Island Developing states still need to be worked through.