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What you need to know about COP27 – The Star Kenya

Egypt’s foreign minister Sameh Shoukry has formally assumed his role as the new Convention of the Parties (COP27) President taking over from UK’s Alok Sharma.
Shoukry was elected on Sunday by the parties present during the opening plenary session of this year’s climate conference at Red Sea resort in Sharm el-Sheikh, Egypt.
He will now hold the position until 2023 when he is set to hand over to the host nation.
Dubai is set to host the COP28.
The presidential seat is held on a rotational basis.
The inaugural COP meeting was held in Berlin, Germany in 1995 while the 2021 conference otherwise referred to as COP26 was in Glasgow, Scotland.
In his opening remarks, Shoukry said, “If we have the political will we can overcome the crisis humanity faces.”
The outgoing president on his part said only 29 countries have enhanced their NDCs since COP26 urging the rest to meet their commitments.
Hundreds of leaders from across the World are among the thousands of attendees who have descended in the country for the high-level conference on climate.
President William Ruto will be leading a delegation from the country to the meeting.
Environment Cabinet Secretary Soipan Tuya and his energy counterpart Davis Chirchir who are already in the country attended the Sunday’s plenary session.
Others in the team are Governor Wilber Otichillo, principal secretary Chris Kiptoo and Festus Ngeno who has been nominated to take up the Environment PS position.
This year’s theme is delivering for the people and the planet.
Signatories of the COP treaty are set to participate in the two-week conference that is being held at a time developing countries are faced with grave climatic challenges.
Ruto will deliver the Kenyan national statement and a statement on behalf of Africa.
Kenya signed the treaty in 1992 but was ratified in 1994 formally admitting it as a party among the 195 others.
The 1992 United Nations Framework Convention on Climate Change dubbed the Earth Summit in Rio de Janeiro, Brazil bore the international environmental treaty.
The conference will be the first COP to take place in Africa since 2016, when COP22 was held in Marrakesh, Morocco.
Delegates will begin the two-week negotiation process by approving the conference agenda during the opening plenary session.
On November 7 and 8, the conference will begin with a leader’s summit followed by discussions on topics such as climate finance, decarbonisation, climate change adaptation and agriculture during the first week.
UN secretary general Antonios Guteres has called on leaders to commit to finding climate solutions that can help stop and prevent hunger.
He said droughts, heat waves and floods have a devastating impact on food production.
“The unfolding global food crisis cannot be stopped until nations manage the climate crisis,” he said adding that climate disasters are already hurting countries, communities and economies.
The second week is expected to cover gender, water and biodiversity.
President Joe Biden, French President Emmanuel Macron and German Chancellor Olaf Scholz are expected to attend.
Macron, Dutch Prime Minister Mark Rutte and Senegalese President Macky Sall will host an event on accelerating action on climate change in Africa.
The meeting will also bring together environmental groups, scientists, business leaders, celebrities and journalists.
Member counties use the event to agree on policies aimed at limiting global temperature rises and adapting to impacts associated with climate change.
Among resolutions agreed during the previous conventions in Scotland are the Glasgow Climate Pact and the Paris Rulebook.
Prior to the start of the COP26, specific goals that needed to be achieved were set out.
These are secure global net zero by mid-century and keep 1.5 degrees celsius within reach, adapt to protect communities and natural habitats, mobilise at least 100 billion dollars in climate finance per year and work to deliver the Paris rulebook and tackle climate crisis.
Commitments in a range of other areas such as forests, methane, car emissions, and private finance were also made apart from phasing out the use of coal for energy production.
Some 190 countries agreed to phase down coal power, resulting in a 76 per cent decrease in planned new coal power plants.
More than 40 countries, several states and organisations declared their support for the global coal to clean power transmission statement.
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Joseph Muongi

Financial.co.ke was founded by Mr. Joseph Muongi Kamau. He holds a Master of Science in Finance, Bachelors of Science in Actuarial Science and a Certificate of proficiencty in insurance. He's also the lead financial consultant.