Is COP27 a dead-end road in the climate crisis?
Another Conference of Parties, Number 27, in Egypt is coming to an end soon and emissions are still rising. How can we keep 1.5°C alive and drastically decrease emissions in a few years globally? Time to step back and look from a distance, at where we are and what may need to add.
🌍 𝗖𝗢𝗣 𝗶𝘀 𝗮 𝗺𝘂𝘀𝘁 𝗔𝗡𝗗 𝗻𝗼𝘁 𝗲𝗻𝗼𝘂𝗴𝗵 𝗶𝗻 𝘁𝗵𝗲 𝗰𝗹𝗶𝗺𝗮𝘁𝗲 𝗰𝗿𝗶𝘀𝗶𝘀
The climate crisis is a global problem, requiring a worldwide format and process for all countries. COP provides this format and is therefore a must. But the COP results are insufficient: Despite 27 COP conferences, emissions and temperature keep rising, losses and damages increase. COP failed to solve the problem alone, additional instruments are needed.
🦖 “𝗧-𝗥𝗲𝘅 𝘁𝗿𝗲𝗮𝘁𝘆” 𝗼𝗳 𝗖𝗵𝗶𝗻𝗮 𝗮𝗻𝗱 𝗨𝗦 𝗳𝗼𝗿 𝗰𝗹𝗶𝗺𝗮𝘁𝗲-𝗻𝗲𝘂𝘁𝗿𝗮𝗹𝗶𝘁𝘆
The two T-Rex in the climate crisis are China and the US as the two biggest emitting countries. They should not fight each other but fight together against extinction. An ambitious bilateral “T-Rex treaty” for 1.5° between China and the US to invest, modernize, and decarbonize together for climate-neutrality is the signal the world needs NOW to follow in addition to COP agreements.
🚤 𝗙𝗮𝘀𝘁 “𝗦𝗽𝗲𝗲𝗱𝗯𝗼𝗮𝘁 𝗖𝗼𝘂𝗻𝘁𝗿𝗶𝗲𝘀” 𝗮𝗰𝗰𝗲𝗹𝗲𝗿𝗮𝘁𝗲 𝘁𝗵𝗲 𝗴𝗿𝗲𝗲𝗻 𝗿𝗮𝗰𝗲
China and the US are giants, but also tankers. The world needs a green race and a market dynamic for climate neutrality. A group of more speedboat countries is needed that are relatively small, progressive, and move fast in the transition as earlier adopters. This group pioneers future carbon-neutral technologies for bigger countries to scale. Be it Denmark, Costa Rica, or Singapore: progressive smaller countries are vital for gaining speed in technology development, and deployment, leading the green race.
💰 “𝗣𝗿𝗶𝗰𝗲, 𝗣𝗿𝗶𝗰𝗲, 𝗣𝗿𝗶𝗰𝗲”
This is the key factor for solving the climate crisis using market forces. If climate-friendly solutions are substantially cheaper than dirty solutions, markets take effect. Whether it is loss and damage costs, CO2 taxes, changing VAT rates on products or emissions trading costs. All countries must use prices and costs to leverage market forces to solve the issues. And Europe?
🇪🇺 𝗘𝘂𝗿𝗼𝗽𝗲 𝗹𝗲𝗮𝗱 𝗮𝗻𝗱 𝘁𝗿𝗮𝗻𝘀𝗳𝗲𝗿 𝗿𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻, 𝗮𝗰𝘁𝗶𝗼𝗻𝘀, 𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀
Europe and Europeans cannot solve the climate crisis alone. More power and influence on the climate shifts to Asia, the Americas, and Africa with growing populations and income. But Europe still can and must lead by example and help to transfer regulations like CSRD/ESRS or the EU Taxonomy, climate-neutral actions, and best practices in business and communities which other regions can adopt.