COP27: Preparatory analysis for the European Parliament – Climate targets far from sufficient
The 27th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27) will take place in Sharm El-Sheikh, Egypt, from 6 to 18 November 2022. At the European Parliament’s request, the Oeko-Institut has compiled a clear and comprehensible summary of the issues to be negotiated at COP27. The study also provides a brief overview of the climate change mitigation efforts being made by the individual G20 countries and shows how Russia’s invasion of Ukraine is affecting international climate policy.
At a time of extreme weather events and global uncertainties, ways must be found to reduce greenhouse gas emissions and support developing countries’ adaptation to climate change.
Global stocktake: Climate targets far from sufficient
At COP27, a global stocktake (GST) will be conducted to assess current mitigation efforts against the goals of the Paris Agreement. The latest reports by the Intergovernmental Panel on Climate Change (IPCC) have revealed that rapid and far-reaching efforts are required to limit global warming to 1.5˚C. However, the mitigation ambition of the climate targets proposed by individual countries is far from sufficient. The IPCC has also shown that for each sector, there are solutions available that would enable greenhouse gas emissions to be substantially reduced by 2030.
COP27: The status of the negotiations
At the previous Climate Change Conference (COP26) in Glasgow in November 2021, the international community was able to reach agreement on rules for international market mechanisms. However, many implementation issues will have to be addressed in further negotiations at Sharm El-Sheikh in order to ensure that these market mechanisms are capable of making a robust contribution to climate change mitigation.
Negotiators from the Oeko-Institut
Experts from the Oeko-Institut have been part of the German and European government delegations at the climate negotiations for many years, contributing to issues relating to reporting and transparency, international carbon markets and emissions reductions in international aviation and maritime transport.
The Oeko-Institut has produced studies on a wide range of international climate policy issues:
Reporting and transparency
Accounting for Nationally Determined Contributions. Guidance for Accounting for NDCs with Greenhouse Gas Emissions Targets. Second edition — Updated for the provisions of the Katowice Rulebook and decisions taken at COP26 in Glasgow. Partnership on Transparency in the Paris Agreement. Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH
International carbon markets
Oeko-Institut, Environmental Defense Fund (EDF) and World Wildlife Fund (WWF) launched the Carbon Credit Quality Initiative (CCQI) with the aim of providing independent, user-friendly information on carbon credit quality.
Analysis of options for determining OMGE, SOP and Transition within Article 6. Implications of policy decisions for international crediting under the Paris Agreement. Climate Analytics, NewClimate Institute, Oeko-Institut, 2021
Research article: “Outside in? Using international carbon markets for mitigation not covered by nationally determined contributions (NDCs) under the Paris Agreement”. In: Climate Policy, with input from the Oeko-Institut
Nature-based contributions to climate change mitigation