UN Climate Change Conference 2022 - Together for Implementation

This November, as every year, world leaders will gather at the UN Climate Change Conference in Sharm El-Sheikh, Egypt to initiate action on climate change. This year's motto: Together for Implementation.

The effects of the climate crisis have been visible for a long time. Extreme weather events such as heat waves, floods and forest fires are occurring with increasing frequency. One thing is certain: urgent action must be taken to contain global warming to 1.5 degrees. Easier said than done, because the fight against climate change is not a task for lone warriors. Politics and business can only implement measures and put plans into action together.

The 2022 UN Climate Change Conference, also known as COP27, aims to address this issue. From November 6^th - 18^th, the summit in Sharm El-Sheikh, Egypt, will bring together delegations from all countries to advance action toward achieving the climate goals agreed to in the 2015 Paris Agreement. This year, COP27 will focus on the following goals.

1. Follow-up promises with actions

"Building on the goals agreed in Paris and last year in Glasgow, it is time to step up the pace, turn promises into action and replicate success stories through the right mechanisms", is how the host country phrases the first of four goals on this year's agenda. COP27 marks the 30th anniversary of the adoption of the United Nations Framework Convention on Climate Change.

"Thirty years and twenty-six COPs later, we now have a much clearer understanding of the extent of the potential climate crisis and what needs to be done to address it effectively", says Egypt's President Abdel Fattah El-Sisi in his welcome message.

Over the past thirty years, the president added, the world has come a long way in the fight against climate change and is now able to develop more effective measures to address its causes and consequences. In his country, the COP27 should give the starting signal for the effective implementation of these measures.

2. Protecting countries in climatically vulnerable situations

Across the globe, weather extremes are increasing and causing damage to homes and ecosystems because of climate change. Unfortunately, the most severe impacts of the climate crisis often hit the poorest parts of the world the hardest. Islands are at risk of sinking due to rising sea levels, leaving their inhabitants without homes and shelter. In warm regions, droughts and failure of crops are already a threat. Another important goal of COP27 is therefore to protect ecosystems and communities. Security and warning systems as well as resilient infrastructure and agriculture are to be put in place.

3. Turning financial flows into reality

But the climate targets cannot only be achieved with good intentions and hard work. Tackling climate change is also a question of financial resources. Only if major players such as industrialized countries and leading industries support the UN climate goals, they can be achieved. Therefore, COP27 would like to call on developed countries to deliver their promise made under the 2015 Paris Agreement and establish adequate financial flows. "The provision, mobilization and fulfillment of climate finance for developing countries is an urgent priority", states the official website of host country Egypt. Especially against the background of the current financial crises, debt and rising interest rates, new ways of thinking, updated strategies and policies are needed. Therefore, in Sharm El-Sheikh, international financial institutions will be asked to provide necessary funding in the private and public sectors, and a revision of the definition of bankable projects will be made, considering not only the risks but also the benefits for the climate.

4. Rapid introduction of low-emission technologies

Despite current challenges, particularly the energy crisis, it is important to achieve success quickly. "It is important that we shape the transition in a way that ensures the necessary and rapid implementation of low-emission technologies, and the phase-out of high-emission technologies", therefore states the objectives of this year's COP27. "We all need to show leadership by reaffirming and even strengthening our pledges and commitments." By demanding proactive collaboration from governments, businesses and civil society, the UN climate conference aims to accelerate the implementation of measures to address the climate crisis. This is the only way to set the course for humanity's most important joint project: The successful energy transition and joint management of the climate crisis.

Together with other industrial companies and the support of political decision-makers, we can succeed as a global community in avoiding further consequences of climate change. But this will only succeed if we continue to step up our efforts and work together for the climate.

That's why we at thyssenkrupp are also seeking active exchange at this year's COP27. Our experts will be taking part in various panels and roundtable discussions:

• November 14th | Dr. Cord Landsmann, CEO thyssenkrupp Uhde
  From talking to action – Boosting hydrogen – Panel at a side event of the BMWK

• November 15th | Dr. Andreas Becker, CEO thyssenkrupp Egypt
  "Utilizing the overcapacity of renewable electric energy in Egypt" - Green Zone Event of the Arab German Chamber of Industry and Commerce

• November 17th | Paulo Alvarenga, CEO thyssenkrupp South America
  Panel of the Brazilian Pavilion on GH2

In particular, the rapid expansion of renewable energies, their infrastructure, and the establishment of green hydrogen as a global commodity produced and distributed on an industrial scale are, in our view, key levers for the success of the green transformation.

To learn more about the COP27 and the events around the summit in Sharm El-Sheikh, visit the official COP27 Website.