An applaudable decision by the United Nations Climate Change Conference (COP27) to provide “loss and damage” funding for vulnerable countries hit hard by climate disasters. Participating countries at the COP27 2022 made several decisions that demonstrate their commitment to limit global temperature rise to 1.5 degrees Celsius. Some of these decisions also support countries in their actions to cut greenhouse gas emissions and adapt to the expected effects of climate change. But more importantly, the countries agreed to boost the support of finance, technology and capacity building needed by developing countries. You can also read more about the Sharm el-Sheikh Implementation Plan.
With each passing year, there is an increase in urgency to deal with climate change and its inevitable impact on the planet. Along with policy and concrete commitments from nations, here are three other reason we could be heading the right direction in dealing with the climate crisis.
- More public and private investments in sustainability will continue to expand the conversation. There was a time when climate issues were advocated for by activists on the margins, but corporations and consumers both now see the urgency; environmental adaptation will become mainstream.
- Businesses are now looking at their environmental footprint, thanks in part to the landmark agreement delivered at COP15 in Montreal.
- Supply chain disruptions during the pandemic have prompted businesses and corporation to rethink their approach with suppliers and the shape of their supply chain, as a whole. There’s also more demand from consumers for supply chain transparency.
This is not a comprehensive list of things to look forward to, but a few things we are excited to see.
