Climate Crisis: COP27 And Other Things To Watch In 2022

The year 2021 was one of the worst in terms of climatic disasters, but it was also a watershed moment for climate action. Here, we look ahead to the coming year and some of the significant events to keep an eye on that may have an impact on the state of the climate issue and the path we are taking.

Damage and loss

Climate change’s inescapable repercussions are already causing serious losses and damages to lives, livelihoods, crops, and infrastructure in vulnerable countries and communities. Communities that are least responsible for global emissions suffer the most severe consequences and do not always have the capacity to deal with them. There is currently no worldwide finance structure in place to assist these people in recovering from their losses and damages.

Finance for climate change

The climate catastrophe is a global issue of inequity. Extreme weather events are becoming more severe and frequent as a result of global warming, and vulnerable countries lack the resources and capacity to manage and adapt to these effects. High-income countries, which have historically created the majority of emissions, pledged in 2009 to provide $100 billion in climate finance annually by 2020 to assist developing countries in dealing with the effects of the climate catastrophe. However, neither in 2020 nor in 2021 was this climate finance aim met.

This year will be critical in terms of delivering on this commitment and providing funding to people who are most vulnerable and are suffering the repercussions of an issue that they did not cause. UN Secretary-General António Guterres has urged for 50% of climate financing to be spent on adaptation to climate change, which presently accounts for only 25% of global climate investment. Adaptation finance commitments have been made to expand to 40% by 2025, but this cash has failed to materialize.

The science

Two key scientific reports will be released this year that will aid in the development of climate change mitigation and adaptation plans. In 2021, the Intergovernmental Panel on Climate Change (IPCC) issued a study warning that average global temperature rises will touch 1.5°C by 2040 and might reach 5.7°C by 2100, considerably beyond the threshold agreed upon by 192 countries in the Paris Agreement.

The IPCC will deliver a report in February on how the climate catastrophe is harming people, ecosystems, and biodiversity, as well as our ability to cope and adapt. In March, we anticipate a review of the alternatives for lowering greenhouse gas emissions and removing carbon dioxide from the atmosphere in order to avert a runaway climate change situation.

Major Events

The Indonesian government will host the 2022 Global Platform for Disaster Risk Reduction in May. Countries will discuss how to strengthen disaster risk management systems and safeguard individuals who are at risk. To reduce the losses and damages caused by disasters such as earthquakes, floods, cyclones, and droughts, disaster risk reduction employs risk analysis, preparedness, and prevention. With climate risks accounting for 90% of all significant catastrophes globally, disaster risk reduction policies and strategies are critical for effective climate crisis management.

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