Key members of the Climateworks team are in Sharm el-Sheikh over the next two weeks as delegates to the UNFCCC COP27 climate change conference.
Officials from more than 190 countries have converged on Sharm El-Sheikh in Egypt to determine the path forward in pursuit of limiting global warming to 1.5 degrees Celsius, in line with the goals of the Paris Agreement.
A key focus of this year’s conference is finance. This year’s host government has signalled that adaptation finance and progress on loss and damage provisions will be priorities – but mitigation finance, traditionally accounting for the majority of climate finance, will also be high on the agenda.
Also in the air at COP27 is the yet-to-be-met US$100 billion per year target for 2020 onwards, as well as energy and food price shocks hampering the ability of emerging and developing economies to catalyse climate action. However, one goal of the conference is to continue negotiations over a new target to be set by 2025 – called the new collectively quantified goal – which is being determined according to assessments of country-level financial needs.
Climateworks’ finance and energy experts will be there to join in discussions on mobilising finance at the pace and scale needed for the transition.
Drawing on our work across Southeast Asia, the Pacific and Australia, we are also discussing the ocean as a climate solution, and how engineering can support the transition – hosting two events in the Australian Government pavilion and presenting at others.
The following members of our team will be in Sharm el-Sheikh over the next two weeks:
How Australia–Southeast Asia relations can accelerate the region’s energy transition
Energy is Southeast Asia’s largest driver of emissions, but ambition to decarbonise the sector is growing, and there are substantial opportunities for Australia to play an instrumental role in supporting this transition.
Australia is endowed with rich deposits of minerals required for low-carbon technologies, plus abundant renewable energy potential. Association of Southeast Asian Nations (ASEAN) member states are equally blessed with skilled, low-cost labour, geographical centrality to global supply chains and growing hunger for low-carbon technologies to support the energy transition.
On 9 November, COP27’s Finance Day, Meg Argyriou will lead a panel discussion on climate cooperation between Australia and ASEAN member states, discussing opportunities to develop innovative financing structures and economic linkages.
The panel – including Harriett Horsfall, Assistant Director, Private Finance for Climate and Development, DFAT; Gurbuz Gonul, Director, Country Engagement and Partnerships, IRENA; and Ramesh Subramaniam, Director General, Southeast Asia Department, ADB – will explore how finance and economics will be crucial to the region achieving a rapid and just energy transition while also realising its significant potential as a global low-carbon technology hub.
Engineering solutions for the energy transition
On November 11, COP27’s Decarbonisation Day, our Energy System Lead Dr Emi Gui will be at the UN Climate Change Global Innovation Hub Pavilion for the Council of Engineers for the Energy Transition’s (CEET) official statement release, as a member of the CEET.
The CEET, a global high-level body of engineers and energy system experts advising the UN Secretary-General, provides impartial knowledge and expertise on clean energy technologies, guidance for policymakers and investors, and identifies solutions to reach global net zero energy systems.
It is the first time in COP history that an engineer-led and co-designed decarbonisation forum will take place to support the theme of moving beyond discussion and getting to implementation.
Having engineers at the forefront of integral conversations amongst international leaders, policy-makers, economists, financial institutions, and NGOs across the globe will be crucial to determining how to best accelerate a just and inclusive energy transition.
Putting ocean-based climate mitigation on the agenda
On 17 November, our ocean expert Dr Sali Bache will run an event to highlight the range of climate solutions that the ocean can offer in the global effort to achieve Paris-aligned ambitions.
Part of COP27’s Solutions Day, the event reflects a shift from the ocean being considered a victim of climate change to being a key part of the solution. Integrated ocean-based climate mitigation and nature-based marine solutions can demonstrate the potential ocean action brings to climate efforts.
The event will cover a range of initiatives including the Southeast Asia Framework for Oceans Action in Mitigation (SEAFOAM) pilot project led by Climateworks Centre, which explores the potential of offshore renewable energy and blue carbon sinks.
It also aims to showcase that the ocean is an ideal area to explore the synergies between mitigation and adaptation goals – a human-focused just transition and recognition of co-benefits are an essential part of ocean-climate action.