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COP27 Day 5 - Decarbonisation Day


Photo credit: UNFCCC 2022


The latest COP27 thematic day focused on decarbonisation, which is a key strategic priority for all nations in the fight against climate change.


The extent of the carbon problem was highlighted by the results of an analysis of global carbon emissions by scientists disclosed on the day. It stated that if current levels of carbon emissions continue, there is a 50% chance that the world will see the global warming limit of 1.5°C exceeded within the next decade.


This put investment into decarbonisation of the highest emitting sectors and the identification of new technologies to further streamline that process at the front and centre of the day’s discussions.


Under the Breakthrough Agenda, countries representing more than 70% of global GDP launched a package of 25 new collaborative actions to speed up decarbonisation. These 25 actions are listed under five key ‘breakthroughs’: power, road transport, steel, hydrogen and agriculture. The deadline for completing these 25 actions is by COP28 with the aim of cutting energy costs, rapidly reducing emissions, boosting food security for billions of people worldwide and ensuring a just transition for green jobs.


In a development that will interest those in the construction and development sectors, the First Movers Coalition (a global initiative harnessing the purchasing power of companies to decarbonize seven “hard to abate” industrial sectors) has partnered with the World Economic Forum and Mission Possible Partnership to launch the “FMC Cement & Concrete Commitment”. Signatories to this Commitment have pledged to purchase at least 10% near zero carbon cement and concrete by 2030. This is seen as a significant step forwards as cement is the second most-used product on earth after water and is responsible for an estimated 7% of global emissions.


Today’s announcements and the UN’s crackdown on greenwashing should put net-zero strategies back at the top of company agendas.


 

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