COP27: Together for implementation

Posted by Global technology interface on October 04, 2022


The fight against climate change is a never-ending effort that calls for remarkable cooperation. Governments, businesses, the financial sector, and civil society must all be mobilised to fight the disastrous repercussions of climate change. Leaders from the public and corporate sectors will come together at COP27 this year in Sharm El-Sheikh, Egypt, to look for solutions and corrections. Business and political leaders have a crucial chance at COP27 to redouble their efforts to combat climate change, establish new partnerships, and find creative solutions.

The world received a major wake-up call from COP26 on what it will take to keep global warming under control. It also brought to light the size of the financial assistance required to help developing nations transition to low-carbon development pathways and prepare their communities for the effects of climate change. Public funds alone will be insufficient to meet adaptation needs. These give the perfect gateways for private entities to be part of the deliberations, especially as they have been relatively uninvolved in adaptation discussions in developing nations. 

One of the significant opportunities for the private sector to benefit from nature-based solutions for the country's mitigation, adaptation, and broader socioeconomic advantages. Nature-based solutions (NbS) have gained substantial attention from private sector organisations looking to provide adaptation and mitigation benefits for climate change, primarily through carbon offsets and contributing to other sustainable development goals.

Nature-based solutions are emerging as powerful allies to address global interlinked challenges of climate change, biodiversity loss, and degradation of ecosystems in urban areas. These solutions can support efforts to lower urban greenhouse gas emissions and aid in our ability to adapt to the effects of climate change. They also offer numerous co-benefits in terms of bettering air and water quality, expanding green cover and biodiversity, creating healthy and sustainable living places and addressing climate-related problems. Several cities have initiated a shift in their urban planning approach by harnessing the power of nature to provide environmental and societal benefits.

Some of the noteworthy companies working on similar technologies are enumerated below;

  1. Vaidic Srijan LLP  is an Indian Startup, working on various aspects of Vaidic Indian Science to develop solutions for modern-day’s problems. One such solution is "Cownomics® Technology", which is invented by Vaidic Srijan for "Resurrection of Native Ecology of Waterbodies and Wetlands", enabling them to "consume & digest" incoming contaminants instead of the conventional approach of "segregation & collection". 
  2. PLANET is an Italy-based company fully dedicated to bio-inspired product innovation with expertise in solar desalination. They have developed the Mangrove Technology Platform (MTP), enabling agroforestry and reforestation projects on dryland. They also broaden lands and water availability at the scale to achieve carbon neutrality, leveraging on the sun, salt water and degraded soils.
  3. Enpro Envirotech Pty Ltd, based in Australia, provides sustainable environment management services and solutions emphasising renewable energy. They deliver innovative solutions to wastewater, waste and energy generation.

It is hoped that COP27 will mark a turning point where the globe will unite and show the necessary political will to address the climate crisis through concerted, cooperative, and significant action.  Government and corporate environmental, social, and governance (ESG) commitments are expected to reach a critical turning point at COP 27 as they move beyond promises and toward clear road maps (and verifiable progress) to sustainable change. COP27 in Sharm El-Sheikh will also be an excellent opportunity to highlight and advance the local climate action agenda and strengthen the alignment of climate action with sustainable urban development.

The run-up to COP27 is already in full swing. Utilising crucial funds will be at the forefront of igniting that movement. It is obvious that the world needs to do much to push urgent climate action. The effort to give the required resources, capacity and opportunity must be Egypt's top priority this November, and they must acknowledge and embrace their role as the COP President.

Global Business Inroads stands ready to assist and facilitate with all stakeholders across the public and private sectors. Only an emergency-level response can bring about the future we want and need, given the global climate emergency we face. COP27 is an opportunity to showcase unity against an existential threat that the world can only overcome through concerted action and effective implementation.

Suppose you are a technology company in this sector. In that case you can register on the technology platform Global Technology Interface® (GTI ®) as a tech displayer to showcase and deploy your technologies to promote the circular economy and browse through the existing opportunities and technologies to explore collaborations. Given the massive opportunity in this sector, the platform can support you with accessing new markets and leveraging opportunities in this sector.

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