Author: THINKTEAM Support

COP27, Looking Back

In this long read, we unpack some of the key developments at COP27. We celebrate the establishment of the loss and damage finance facility and progress on the framework for the global goal on adaptation. We also engage with how attempts to erode the distinction between developed and developing countries, longstanding concerns around equity, and a failure to fulfil historic pledges are still stymying progress on finance and mitigation.
  • COP27

COP27: A Primer for African participants

Untangling and keeping track of the various negotiation threads at a COP is something of an art form. In this COP27 primer we unpack the key negotiation issues on the table and offer a view on the positions that countries are likely to take in the light of global developments. In particular, we highlight some of the key demands African countries are putting forward in relation to climate finance, loss and damage, adaptation, increased ambition, just transitions and fossil fuel phase outs.
  • COP27

Inter-Parliamentary Union supports a Loss and Damage Fund, but US states it won’t get it past Congress

The Assembly of the Inter-Parliamentary Union (IPU) recently voted in favour of the emergency resolution put forward by Pakistan on the creation of “a Global Fund/Financing facility for climate Vulnerable Countries to Address Loss and Damage Associated with Climate Change", with more than 645 votes in favour. Parliamentary support is a key component in whether a loss and damage finance facility is agreed to internationally and can be highly influential on executive action. The US recently stated that while it is open to discussing the facility, anything that would need to go through the US Congress was a non-starter.
  • Loss And Damage

Four African countries part of a new group of 15 states seeking an ICJ opinion on legal liability for climate change

Mozambique, Morocco, Sierra Leone and Uganda have joined Vanuatu as part of a group of 15 nations called the "Core Group" which announced that they intend to bring a draft resolution to the General Assembly that requests an International Court of Justice opinion on the rights and obligations of states in relation to climate change. These opinions can be highly influential in subsequent legal proceedings, and can be used as a climate justice benchmark in climate litigation.
  • COP27, Loss And Damage

EU States start exiting the Energy Charter Treaty whilst African signatories increase

The Netherlands became the latest EU country to recently announce it would withdraw from the Energy Charter Treaty (ECT). Last week, Spain announced it would exit the treaty, and Poland is also in the process of withdrawal. There are concerns that the ECT locks signatory countries into unsustainable climate policies at the risk of litigation from oil and gas investors. Proposed draft amendments to alleviate this risk are considered insufficient and unclear. At the same time, African countries are increasingly becoming signatories to the ECT potentially tying the hands of government to freely design their climate policies.
  • NetZero and the Just Transition

EU Unclear on its Position for a Dedicated Loss and Damage Finance Facility

The EU’s position on a dedicated loss and damage finance facility remains unclear after a recent EU Council resolution on the issue of climate finance. The US is outright unsupportive of dedicated funding. Talks at the Kinshasa Pre-COP earlier this month were generally optimistic on this issue but did not yield any clear direction on how negotiations will proceed at the COP. A task team has however been put together to ensure Loss and Damage is placed on the formal agenda.
  • COP27, Loss And Damage

Developed and Developing World Both Call for World Bank Climate Reforms

Recent comments by World Bank President, David Malpass, ignited furore, when he refused to acknowledge that the burning of fossil fuels is causing climate change. Whilst he has sought to retract this position, it has been used as a platform for global leaders to act on longstanding frustrations with the World Bank’s role in decarbonisation. At the World Bank’s annual general meeting last week Germany and the United States put forward a joint proposal for the “fundamental reform of the World Bank” to its management, including reforms to its approach to climate change. A group of the world’s most vulnerable 20 countries also floated the possibility of suspending the repayment of their World Bank loans, amounting to $685 billion.
  • Climate Finance, COP27

IMF Floats the Possibility of Debt for Climate Swaps

The IMF has explored the option of debt for climate swaps in a recent working paper, concluding that they may be appropriate in some cases.
  • Climate Finance, COP27

US Climate Targets Might Open the Door for a Global Climate Club

The United States may be able to avoid the European Union’s planned border carbon tariff, because of its similar climate targets. This may in turn open the door for a climate club which will have implications for global trade.
  • NetZero and the Just Transition

G20 Fails to Adopt a Joint Communique at Climate Talks, Raising Concerns of Backsliding

This year’s G20 meeting was heavily influenced by global tensions arising from the war in Ukraine and the global energy crisis. Climate and Environmental Ministers were unable to agree to an official communique as a result of objections over language used on climate targets. This has raised concerns of potential backsliding amongst countries.
  • COP27, NetZero and the Just Transition