COP27 is an opportunity we must seize

The Conference of the Parties of the United Nations Framework Convention on Climate Change (COP27) takes place this year between November 6-18th in the Egyptian resort of Sharm El-Sheikh. The event represents a defining moment in the global response to the impacts of climate change.
Convention on Climate Change (COP27)

With scientists having established a clear need for immediate action to contain the impact of climate change, COP27 is aimed at moving nations, economies and industries beyond planning and into the realm of impact and action before it is too late.

The event will be attended by Andrea Fuder, Member of the Executive Board and Chief Purchasing Officer, Karin Svensson, Chief Sustainability Officer, and Niklas Gustafsson, Head of Public Policy and Regulatory Affairs where the theme of the event will be ‘Together for Implementation’.

A partner for change

“The time for planning and commitments has passed. If we are to limit climate change to the 2015 goal of under 1.5⁰C, then the talking must be accompanied by action. Volvo Group is attending COP27 to exert its influence wherever possible and encourage a collaborative approach that creates partnerships that have a meaningful impact in our fight against climate change. As a leader in the transport, mobility and equipment industries, Volvo Group continues to be a willing partner when it comes to change, as can be seen from our progress in the field of electrification and the use of fossil-free steel, and our efforts to make the transition to electric logistics a reality,” says Karin Svensson, Chief Sustainability Officer.

Volvo Group is a founding member of the First Mover’s Coalition, an initiative that was launched by US President Joe Biden during COP26 in Glasgow. The platform is designed to support companies to make purchasing commitments that encourage low-carbon technologies. The coalition has a membership with a collective value of around $8.5 trillion, or more than 10% of the Fortune Global 2000, and includes over 50 major companies, including Microsoft, Alphabet and Salesforce, along with seven leading governments responsible for over 40% of global GDP.

COP27 will check the progress of agreements made during last year’s summit in Glasgow, UK, including:

  • The COP26 Glasgow Climate Pact where 153 countries put forward new 2030 emission targets,
  • A commitment to cover some 80 countries with Adaptation Communications or National Adaptation Plans to help them prepare for climate-related disaster – as well as a pledge to double 2019 levels of adaptation finance by 2025,
  • The Glasgow Breakthroughs commitment to accelerate climate goals between governments, businesses, and civil society, along with
  • A commitment by developed countries to raise $100 billion by 2023 at the latest, dedicated towards climate action.

COP27 is ultimately intended to support the mitigation of climate change, support the adaptation of policy, industrial and societal change, establish a clear foundation for the financing required to effect change, and finally to create an opportunity for increased collaboration to make it a reality.

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