Consid in high-level meeting during COP27

PRESS RELEASE 2022-11-07

The climate conference COP27 in Sharm el-Sheikh, Egypt, has begun. During twelve days, the world’s countries must report progress made and raised ambitions to reach the Paris Agreement’s goal of halting the global warming. Consid is participating in COP27 via the UN Global Compact.

– The climate threat is the absolute biggest challenge of our time. There, we in IT have an important role to play in finding solutions to the challenge. Within Consid, we have many projects that aim to reduce emissions and contribute to achieving the goals in Agenda 2030. We participate in several of the summits and hope to influence COP27 in a positive direction, says Peter Hellgren, CEO of Consid.

This year’s climate negotiations are held in the Egyptian tourist resort of Sharm el-Sheikh, between November 6-18. That the planet is warming due to human-caused emissions, mainly through the burning of fossil fuels such as oil, gas and coal, has been known for a long time. In Paris 2015, the world agreed to limit the global temperature increase to well below 2 degrees compared to pre-industrial times, preferably 1.5 degrees. This must primarily be done through reduced emissions.

Every five years, a reconciliation takes place in connection with the climate summit. All countries that stand behind the Paris Agreement must submit a national climate strategy to the UN. These describe how the country intends to contribute to fulfilling the agreement’s goals. Sweden does not submit its own climate plan, but is part of the common one for the entire EU. The hope is that COP27 will contribute to words turning into action in climate work.

Consid has been selected to participate in the high-level meeting “Caring for Climate” during COP27. Hosts for the meeting are the UN Global Compact, together with UNEP and the UNFCCC secretariat. During the meeting, leading executives in business, industry, finance, civil society, the UN and governments will meet to find common solutions to avoid a climate disaster. The gathering aims to bring forward a strong business message for climate ambition.

– The experts agree that, among other things, AI will help us reach the goals in Agenda 2030. It is about making energy use and extraction more efficient, it is of course about reducing our emissions in general. The private business community must take responsibility for reversing the trend. It won’t work otherwise, says Peter Hellgren.

US President Joe Biden is expected to attend, British Prime Minister Rishi Sunak will also appear, as will French President Emmanuel Macron, German Chancellor Olaf Scholz, Italian Prime Minister Giorgia Meloni and Swedish Prime Minister Ulf Kristersson. Chinese President Xi Jinping is not expected to attend the meeting, nor did he appear at the last meeting. Russian President Vladimir Putin is sending a delegation. However, Luiz Inácio “Lula” da Silva, who recently won the presidential election in Brazil, has announced that he will come.

Much will revolve around money, including the status of the still unmet goal of $100 billion a year in climate finance for poor countries.

Vulnerable countries have also pushed for the issue of compensation for climate-related losses and damages to be discussed. From these countries there are proposals that a new fund should be established to finance reconstruction – which the US and the EU oppose.