The Institute is proud to be supporting COP27 and bring you key content to help individuals, in their different roles, understand how banking can support the transition to a zero-carbon economy.
Watch this page for latest updates, thought leadership, and resources, to support the responsible banking agenda and aims of COP27.
We're also delighted to announce the launch of the Principles for Responsible Banking Academy, created in partnership with UNEP FI, the Chartered Banker Institute and GIZ. The Academy is the first of its kind, offering accredited professional training for banking professionals across the globe on sustainability issues, the UN Principles for Responsible Banking, and implementing net zero Paris-aligned targets.
What should we expect for COP27?
COP27 will feature a series of thematic days, including Finance Day, Decarbonisation Day, Energy Day and Biodiversity Day.
The four goals set out for the 27th Climate Summit are:
1. Mitigation:
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Limit global warming to well below 2 degrees above pre-industrial levels and keep the 1.5 degrees target alive.
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Fulfil pledges and commitments to the Paris Agreement
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Implement the Glasgow Pact and create a work programme for ambition on mitigation.
2. Adaption:
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Ensure that COP27 makes the crucially needed progress and urge all parties to demonstrate the necessary political will to capture and assess progress towards enhancing resilience and assist the most vulnerable communities.
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Witness an enhanced global agenda for action on adaptation, confirming what we agreed on in Paris and further elaborated in the Glasgow pact regarding placing adaptation at the forefront of global action.
3. Finance:
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Make considerable progress on the crucial issue of climate finance while moving forward on all finance related items on the agenda.
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Give enhanced transparency of finance flows and facilitate access to meet the needs of developing countries, especially Africa, Least Developed Countries (LDCs), and Small Island Developing States (SIDS).
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Follow up on existing commitments and pledges, announced from Copenhagen and Cancun, through Paris and all the way to Glasgow, in order to provide clarity as to where we are and what more needs to be done.
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Progress made on delivery of the annual USD 100 billion will build more trust between developed and developing countries, showing that actual commitments are being fulfilled.
4. Collaboration:
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Enhance and facilitate agreements in the negotiations to achieve tangible results in a balanced manner.
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Give inclusive and active participation from all stakeholders.
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Ensure adequate representation and participation from all relevant stakeholders in COP27, especially vulnerable communities and representatives from countries in the African region who are increasingly affected by the impacts of climate change.
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Turn the Glasgow outcome into action and commence with its implementation.
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Ensure humans are at the centre of climate talks.
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Governments, the private sector and civil society need to work, in tandem, to transform the way in which we interact with our planet. We must introduce new solutions and innovations that help alleviate the adverse impacts of climate change. We also need to replicate and rapidly upscale all other climate-friendly solutions towards implementation in developing countries.
There are undoubtedly many outcomes we hope to see emerge from this year’s Climate Summit. To see what influential figures within the financial and banking sectors are expecting from COP27, click on our COP Chat page here. You can also brush up on key terms which will be used throughout COP27 in our Green and Sustainable Finance Glossary here.