How Will COP27 Change the World and Impact Your Business?
By Sam Cooke
The United Nations have gathered to create a better world. This is happening right now at COP27, more commonly known as the 2022 United Nations Climate Change Conference. Held in Sharm El Sheikh, Egypt, the conference started on the 6th of November and is coming to a close on the 18th. Although the event has been running for a few days, so many exciting things have already come for it.
If you’re a business owner who is interested in creating a better world, then keeping updated on this event is crucial. It will give you tips on innovation and generate ideas that will leave your customers ecstatic to be working with such an eco-conscious company.
What is COP27?
The United Nations Climate Change Conference is an annual event and is now one of the largest international meetings in the world. The purpose of the meeting is to discuss climate matters and create plans where the United Nations can collaborate to lower their carbon footprint.
The main topics of discussion revolve around implementing the Convention, the Kyoto Protocol and the Paris Agreement. These are:
· The Convention is where the UN plan its next climate change conference. Although they are meeting at COP27 to discuss 2022, they will also be planning next year’s convention and setting targets that need actioning for then.
· The Kyoto Protocol- This is individual countries and economies targets/commitments to lowering their greenhouse gases.
· The Paris Agreement- The commitment of each country to keep the global temperature rise below 2 degrees Celsius and to take action to lower this figure by 1.5 degrees Celsius.
What Has Come Out of Cop27 So Far?
The war between Ukraine and Russia is understandably a hot topic, especially because of its impact on gas. Because Russia has cut their gas supply, many countries are looking at alternate types of fuel. One of these is liquified natural gas (LNG), which has much higher carbon emissions. If the use of LNG continues, then this will result in an extra 1.9 billion tonnes of carbon being used.
One big announcement to come from the conference is the gas deal between the United Kingdom and America. The US will supply the UK with LNG to help them with their energy crisis. They hope that this will reduce fuel prices and help the economy. Although this is good for the cost of living, it’s bad for the environment, as more LNG means more carbon.
There have also been debates around controversial topics, like fracking. The conclusion that seems to have been drawn is that all countries need to cooperate if they want to save the planet.
Although many economies are currently suffering, if countries take a self-centred approach, then this will harm everyone. COP27 is ensuring that all economies are bearing the environment in mind, regardless of their situation.
What Does COP27 Mean for Your Business?
All companies are going to have to cut their carbon emissions. There will come a time when heavy penalties are set for organisations that have a high carbon footprint. If you want some tips on lowering your carbon emissions, then read our blog here.
On a positive note, LNG could result in lower overheads for many businesses. Yes, it damages the environment, and we don’t advocate it, but if more gas is made available to overcome the current shortage, then it will help to boost economies.
An Easy Step to Lowering Your Carbon Footprint
It’s important that the United Nations hold this conference, but it’s not just them that can make a difference. We can all play a part in saving the planet, no matter how small that part is.
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