This on-the-record E3G press briefing examined the outlook for COP27 at the end of the G20 Leaders’ Summit and COP negotiations.
Watch the recording
The Egyptian Presidency now faces the task of steering Parties away from divergence, engaging ministers to settle landing grounds, and shepherding in an ambitious cover text. Done right this has the potential to set up ambitious change, with new processes or institutions coming from the negotiated outcomes.
Speakers focused on the following areas:
- A deal on Loss and Damage and clarity on adaptation finance. Will countries step up and respond to worsening climate impacts?
- The Mitigation Work Programme and cover text. Will it respond effectively to the massive 2030 emissions gap with clear processes and tasks for countries to close it?
- Macrofinancial reform has been a hot topic at this COP. But will finance negotiators make process on plans to deliver on the $100bn promise, and the goal beyond it – including aligning all finance flows with Paris goals?
The COP27 ministerial segment, following the G20 Leaders’ Summit, provides a crucial opportunity for leaders to demonstrate their commitment to climate cooperation. If seized, it could prompt countries to come forward with refreshed climate targets, new announcements from China, or G7 countries bringing new finance to the G20.
As we enter the COP27 endgame, E3G experts take stock of the developments at the G20, in the COP negotiating rooms, and how they will be impacted by geopolitics in Bali and beyond.
Nick Mabey, E3G co-CEO, on the G20/COP27 interplay
Kate Levick, E3G Associate Director, Sustainable Finance, on broader climate finance, Bridgetown, coal transition and JETPs.
Alden Meyer, E3G Senior Associate, on the COP27 cover text and language on mitigation
Alex Scott, E3G Climate Diplomacy Programme Lead, on Loss and Damage and adaptation finance