November 8, 2022
Over the next two weeks, our founder and CEO Maria Fujihara will be joining Brazil’s delegation at the 27th Conference of the Parties of the UNFCCC (COP27) in Sharm El-Sheikh, Egypt. This conference is the most influential forum for governments, heads of industry, and thought leaders to discuss the climate crisis and align on a vision for a sustainable future.
At COP 21 in 2015, 175 nations signed The Paris Climate Agreement. This year, COP27 delegates will evaluate our progress toward the Paris Agreement’s goal of limiting global warming to 1.5°C – and to identifying ways to work together to stay on pace. At SINAI, finding an actionable way to reduce emissions is at the heart of what we do, so we’re excited to have a voice at COP27.
As a precursor to COP27, the UN Environment Programme just published its 2022 Emissions Gap Report, and its main finding is that we’re not making enough progress toward the goals of the Paris Agreement. “To get on track to limiting global warming to 1.5°C,” the report says, “we would need to cut 45 percent off current greenhouse gas emissions by 2030. For 2°C, we would need to cut 30 percent.”
Correspondingly, COP27’s mitigation vision statement acknowledges that the road ahead is getting tougher:
“We must unite to limit global warming to well below 2°C and work hard to keep the 1.5°C target alive. This requires bold and immediate actions and raising ambition from all parties – in particular those who are in a position to do so and those who can and do lead by example." — COP27 Mitigation Vision
While 19 of the G20 nations have made net zero commitments, the UN’s Emissions Gap Report also questions the "credibility and feasibility" of many of these pledges. COP27 will seek to make these commitments possible by focusing on the wide-ranging, large-scale, rapid and systemic transformation that’s needed. One or more days will focus on each of the following areas:
In many ways, the commitments of the world’s biggest companies parallel those of the G20 nations. Many have committed to net zero emissions, but few are making meaningful progress. To further SINAI’s goal of helping major emitters identify the best paths to net zero, we’re looking to understand more about solutions for adaptation, as well as strategies for managing climate risks and building resilience.
We also want to understand new opportunities, including:
There is no one silver bullet for getting to net zero, so we also look forward to examples of nested and coordinated approaches that are the product of broader systems thinking. For example, the UN Gap Report recommends exploring ideas like introducing carbon pricing that aligns with the International Monetary Fund’s suggested cost of $75 per ton of emissions by 2030. As part of a comprehensive mitigation strategy, putting a price on externalities makes everyone a stakeholder in emissions reduction and leads to more collaborative solutions.
While SINAI may spend a lot of time focusing on the role of business in addressing climate change, COP27 offers a broad perspective on the many ways climate change touches humanity. We also look forward to learning more about climate justice issues, emerging solutions, and the many people who are dedicating their lives to change. For those who want to dig deeper, Bloomberg published a great overview of everything that will be covered at the conference.
More than anything, we’ll be looking to understand the role we can play. Everyone will have to contribute in some way to meet our broad climate goals, and SINAI is dedicated to making it easier for major companies to establish an actionable path to net zero. We’re looking for ideas we can share, companies we can empower, and like-minded partners in the journey.
Let us know if you’d like to hear more about SINAI!