UNFCC

UNFCC Summits
Conference of Parties (COP)
The COP is the decision-making body of the UNFCCC. All States that are party to the
Convention are represented at the COP. They review the implementation of any legal
instrument that the Convention adopts.
CMP: Conference of Parties Serving as the Meeting of the Parties to the Kyoto
Protocol.

List of UNFCCC summits

COP Year Place
COP 1 1995 The Berlin Mandate
COP 2 1996 Geneva, Switzerland
COP 3 1997 Kyoto, Japan (Kyoto Protocol was adopted)
CMA: Conference of Parties Serving as the Meeting of
the Parties to the Paris Agreement.
COP 4 1998
Buenos Aires, Argentina

COP 5 1999 Bonn, Germany

COP 6 2000 Hague, Netherlands
COP 6 2001 Bonn, Germany
COP 7 2001 Marrakech, Morocco
COP 8 2002 New Delhi, India
COP 9 2003 Milan, Italy
COP 10 2004 Buenos Aires, Argentina
COP 11/CMP 1 2005 Montreal, Canada (Kyoto Protocol was ratified in 2005)
COP 12/CMP 2 2006 Nairobi, Kenya
COP 13/CMP 3 2007 Bali, Indonesia
COP 14/CMP 4 2008 Poznan, Poland
COP 15/CMP 5 2009 Copenhagen, Denmark
COP 16/CMP 6 2010 Cancun, Mexico
COP 17/CMP 7 2011 Durban, South Africa
COP 18/CMP 8 2012 Doha, Qatar
COP 19/CMP 9 2013 Warsaw, Poland
COP 20/CMP 10 2014 Lima, Peru
COP 21/CMP 11 2015 Paris, France
COP 22/CMP 12/CMA
2016 Marrakech, Morocco
1
COP 23/CMP 13/CMA
2017 Bonn, Germany
1-2
COP 24/CMP 14/CMA
2018 Katowice, Poland
1-3
COP 25/CMP 15/CMA
2019 Madrid, Spain
2
Kyoto Protocol (COP 3; UNFCCC Summit 1997)
The Kyoto Protocol was adopted in Kyoto, Japan in 1997 and came into force in 2005.
It aimed at cutting GHG emissions across the developed world by about 5% by 2012
compared with 1990 levels. While India ratified the Protocol in 2002, USA never ratified it
and Canada withdrew from it in 2012.
Kyoto Protocol is based on the principle of “common but differentiated responsibility”
and is the only global treaty with binding limits on GHG emissions.
“Common but Differentiated Responsibility” means that while every country (both
developing and developed) must take part in the fight against climate change, historically
biggest polluters like USA, UK, Russia should contribute more to reduce GHG emissions
compared to recent polluters like India, China, Brazil etc.

Parties under the Kyoto Protocol

1. Annex 1: Developed countries like USA, UK and Russia + Economies in Transition

(EIT) like Ukraine, Turkey and some East European countries are a part of Annex 1
countries.
2. Annex 2: Developed countries are a part of Annex 2 (Annex 2 is a subset of Annex 1
countries). These countries are required to provide financial and technical support to
EITs and developing countries to assist them in reducing their GHG emissions.
3. Annex B: Annex 1 countries with first or second round Kyoto GHG emissions targets
come under Annex B. The first-round targets apply over 2008-12 and the second-
round targets apply over 2013-20. Countries under Annex B have compulsory
binding targets to reduce GHG emissions.
4. Non-Annex 1: Parties to the UNFCCC not listed under Annex 1 of the Convention
come under this. These include mostly the low-income developing countries and
have no binding emission reduction targets.
5. LDCs: These refer to the least-developed countries and have no binding GHG
reduction targets.

The Kyoto Protocol has two commitment periods: 2008-12 and 2013-20. The second
commitment period was agreed on in 2012, known as Doha Amendment to the
Protocol. As of January 2019, 124 states have accepted the Doha Amendment. Japan and
Russia did not sign the second Kyoto term as it would impose restrictions on it not faced by
its competitors like India and China.

Each commitment period has its own set of binding GHG emission reduction targets for
developed countries to achieve. Nations that miss their Kyoto target will have to incur a
penalty like getting banned from participating in the ‘cap and trade’ program.
 Kyoto Protocol binds only the developed countries because it recognizes that they are
largely responsible for the current high levels of GHG emissions in the atmosphere, which
are the result of more than 150 years of industrial activity.
Kyoto Protocol emission target gases include CO2, SF6, CH4, HFCs, N2O and PFCs.

Flexible Market Mechanisms

Countries bound to the Kyoto targets can meet a part of their targets through three
“market-based mechanisms”.

1. Clean Development Mechanism (CDM)

2. Emission Trading/Cap and Trade
3. Joint Implementation

Under the Clean Development Mechanism (CDM), the projects handled pertain
only to Annex 1 countries.

Note that Carbon Tax (tax on fossil fuels in proportion to Carbon Dioxide emissions) is
not related to Kyoto Protocol.

Important UNFCCC Summits post-Kyoto

Name of
COP Important decisions
Summit

COP 13/CMP 3 Bali Meet Governments adopted the Bali Road Map which
included reviewing the financial mechanism to fund
 climate change initiatives.

Adaptation Fund was launched in this Summit. The

Fund is financed in part by government and private
donors and also from a 2% share of proceeds of Certified
Emission Reduction (CERs) issued under Clean
Development Mechanism projects.
Poznan
COP 14/CMP 4 (Poland) Adaptation Fund is supervised and managed by the
Summit Adaptation Fund Board (AFB). The Global Environment
Facility (GEF) provides secretariat services to the AFB
and the World Bank serves as the trustee of the
Adaptation Fund on an interim basis.

A legally binding agreement could not be arrived at

in this Summit due to disagreement between developed
and developing nations. The Summit thus concluded with
the COP taking a note of the Copenhagen Accord-a
five nation accord between US and BASIC
Copenhagen countries (India, China, Brazil and South Africa).
COP 15/CMP 5
Summit Developed countries promised to provide $30 billion
for the period 2010-12 and to mobilize long term finance
of further $100 billion a year by 2020 from a variety of
sources.

Parties agreed to establish a Green Climate Fund

(GCF) to provide financing to projects, programmes,
policies and other activities in developing countries. GCF
is based in Incheon, South Korea and World Bank was
invited to serve as its interim trustee. GCF is intended to
be the centrepiece of efforts to raise climate finance of $
100 billion by 2020.
Cancun
COP 16/CMP 6
Summit A Technology Mechanism was also established in
this Summit. It was expected to facilitate the
implementation of enhanced action on technology
development and transfer in order to support action on
mitigation and adaptation to climate change.

Durban Governing instrument for the GCF was approved in

COP 17/CMP 7
Summit this Summit.

Government agreed to work towards a Global

Climate Change Agreement. The Conference also
reached an agreement to extend the life of the Kyoto
Protocol.

COP 18/CMP 8 Doha Summit It was also decided that UNEP-led consortium will be
the host of Climate Technology Centre (CTC). The
CTC is the implementing arm of the UNFCCC Technology
Mechanism.

COP 19/CMP 9 Warsaw The term Intended Nationally Determined

Summit Contributions (INDC) was coined in this Summit.

Governments also decided to close the “pre-2020

 ambition gap”- the gap between what has been pledged
to date and what is required to keep the global
temperatures below a maximum average of 2 degrees
Celsius.

Some key outcomes were:

1. National Adaptation Plans (NAPs) were to be

prepared.
2. NAZCA Climate Action Portal was launched with
COP 20/CMP 10 Lima Summit the support from the UNFCCC.
3. Lima Work Programme on Gender was initiated to
advance gender balance in climate related measures.
4. UNFCCC NAMA Day (Nationally Appropriate Mitigation
Actions) was a special event that took place.

Some key outcomes of Paris Agreement were:

1. Paris Agreement entered into force in 2016 after

ratification by 55 countries that account for at least 55%
of the global emissions. India signed and ratified the
agreement in 2016 and as of 2019, 180+ countries have
ratified it.

2. INDC commitments were made by the major

polluters.

3. The objective of the Agreement was to hold the

increase in global average temperature to well below 2
degrees Celsius above pre-industrial levels. Further,
COP 21/CMP 11
Paris Summit countries should pursue to limit temperature increase to
1.5 degrees Celsius above pre-industrial levels.
4. Developed countries reaffirmed their commitment to
mobilize $100 billion a year in climate finance by 2020
to help developing countries cope with climate change.

5. It was also decided that there will be a Global

Stocktake every 5 years to assess the collective
progress towards achieving the purpose of the
Agreement and to inform further individual action by
Parties.

6. Earlier, USA has announced its withdrawal from

the Paris Agreement, but has re-joined recently.
 Some key outcomes were:

1. COP 22 was also called as “Action COP” or

“Agricultural COP”. Accordingly, Adaptation of African
Agriculture (AAA) was launched at the Conference.

2. There were deliberations on “Orphan Issues” that

are referenced in the Paris Agreement but not assigned
to another body for further reconsideration.
COP 22/CMP Marrakech
12/CMA 1 Summit 3. Directions were given to conduct an early
stocktake through a “Facilitative Dialogue”.

4. Few nations submitted “Mid-Century Strategies” to

combat climate change. In line with this, a new initiative
called the ‘2050 Pathway Platfor’ was launched to
help other countries develop their own mid-century
strategies.
 Some key outcomes were:

1. Fiji became the first small-island state to host the

UNFCCC climate talks.

2. Gender Action Plan, highlighting the role of

women in climate action, was launched.

3. Local Communities and Indigenous People’s

Platform (LCIPP), aimed at bringing together people
and their knowledge systems to build a climate resilient
world, was launched.

4. Ocean Pathway Partnership was launched, thus

formally recognizing the links between oceans and
climate change.
Bonn Summit
COP 23/CMP
(Chaired by 5. Talanoa Dialogue, a process aimed at helping
13/CMA 1-2
Fiji) countries implement and enhance their Nationally
Determined Contributions by 2020, was launched.

6. Powering Past Coal Alliance was also launched

in COP 23, led by UK and Canada. The Alliance is aimed
at accelerating clean growth and achieving rapid phase-
out of traditional coal power.

7. InsuResilience Global Partnership is a joint

initiative of G7, G20 and V20 (group of 49 most
vulnerable countries including small islands). It was
launched in COP 23 to strengthen the resilience of
developing countries and protect the lives and
livelihoods of poor and vulnerable people against the
impact of disasters and other climate risks.

The Conference agreed on the “work programme

for implementation” (guidelines/rulebook) for
COP 24/CMP Katowice reaching the targets mentioned to implement the Paris
14/CMA 1-3 Summit Agreement, which will come into force in 2020. The
rulebook will prescribe how governments will measure
and report on their emission cutting efforts.

COP 25/CMP Madrid Summit Owing to its original location in Chile- a nation with
15/CMA 2 (It was held around 4000 miles of coastline- the leadership dubbed
 this year’s event as the “blue COP”, laying out its
intention to focus on oceans.

The COP also highlighted the fact that it is no longer

a climate crisis but a “climate emergency”. Recently, UK
under the and Ireland became the first and second countries
presidency of
Chile) respectively to declare a climate emergency.

The “Santiago Network” was established to

catalyse the technical assistance required by the most
vulnerable countries.

The Warsaw International Mechanism (WIM) on Loss and Damage (L&D) came into
being in 2013 (COP 19). Under L&D, rich countries who have historical responsibility for
climate change are asked to be liable to the developing countries who are already facing
climate change impacts.
The Suva Expert dialogue on Loss and Damage was held under the aegis of UNFCCC,
which discussed risk assessment, risk transfer, risk reduction and retention and
comprehensive risk management approaches to extreme weather events and slow onset
climatic processes.

Carbon Markets under the Paris Agreement:

1. Market Mechanism 1: It sets up a Carbon Market which allows countries to sell
any extra emission reductions {called as Internationally Transferred Mitigation
Outcomes (ITMO)} which they have achieved compared to their Nationally
Determined Contributions (NDCs) target.
a. This is a voluntary direct bilateral cooperation between countries aiming to
promote sustainable development.
2. Market Mechanism 2: The second mechanism will create a new international
carbon market for the trading of emissions reduction created anywhere in the
world by the public or the private sector.
a. This new market is referred to as the “Sustainable Development Mechanism
(SDM)” which seeks to replace the “Clean Development Mechanism (CDM)”
of Kyoto Protocol.
b. The delivery of “Overall
Mitigation in Global
Emissions (OMGE)” is a
key requirement of SDM.

COP26: UN Climate Change

Conference 2021
COP26 was the 26th UN Climate
change conference held in Glasgow, the
United Kingdom in 2021. Read to know more about the conference and related key
concepts here.

The United Kingdom hosted the 26th UN Climate Change Conference of the Parties
(COP26) in Glasgow on 31 October – 12 November 2021.

The Conference of Parties (COP) is a well-known annual event that sees nations come
together to discuss measures to reduce anthropomorphic global warming and steps to
tackle Climate Change.

The COP26 summit brought parties together to accelerate action towards the goals of
the Paris Agreement and the UN Framework Convention on Climate Change (UNFCCC).

According to the UNFCCC, COP26 will work towards four goals:

1. Net-Zero by 2050:
a. To secure Global Net-Zero by Mid-Century and keep 1.5 degrees within reach.
b. Countries are being asked to come forward with ambitious 2030 emissions
reductions targets that include reaching net-zero by the middle of the century.
c. To deliver on these stretching targets, countries will need to:
i. Accelerate the phase-out of coal
ii. Curtail deforestation
iii. Speed up the switch to electric vehicles
iv. Encourage investment in renewable sources of energy.
2. Adapt to Protect Communities and Natural Habitats:
a. Countries will work together to ‘protect and restore ecosystems and build
defences, warning systems, and resilient infrastructure and agriculture to avoid
loss of homes, livelihoods and even lives.’
3. Mobilise Finance:
a. Developed countries must make good on their promise to mobilize at least
USD100bn in climate finance per year.
b. International financial institutions must play their part and we need to work
towards unleashing the trillions in private and public sector finance required to
secure global net zero.

4. Work Together to Deliver:

a. Another important task at the COP26 is to ‘finalize the Paris Rulebook’.
b. Leaders will work together to frame a list of detailed rules that will help fulfil
the Paris agreement.

The outcome of the COP26- the Glasgow Climate Pact gives new building blocks to
advance implementation of the Paris Agreement through actions that can get the world on
a more sustainable, low-carbon pathway forward.

The Glasgow climate pact:

The following were agreed upon in the Glasgow Climate Pact by the nations of the
world:
Recognizing the emergency
Countries reaffirmed the Paris Agreement goal of limiting the increase in the global
average temperature to well below 2°C above pre-industrial levels and pursuing efforts to
limit it to 1.5 °C.
Accelerating action
Countries stressed the urgency of action when carbon dioxide emissions must be
reduced by 45 percent to reach net-zero around mid-century. But with present climate
plans and the Nationally determined Contributions are falling far short. Hence the Glasgow
Climate Pact calls on all countries to present stronger national action plans next year,
instead of in 2025, which was the original timeline.
Moving away from fossil fuels
The countries agreed to a provision calling for a phase-down of coal power and a
phase-out of fossil fuel subsidies – two key issues that had never been explicitly mentioned
in decisions of UN climate talks before.
Delivering on climate finance
Developed countries came to Glasgow falling short on their promise to deliver
US$100 billion a year for developing countries and expressed confidence that the target
would be met in 2023.
Stepping up support for adaptation
The Glasgow Pact calls for a doubling of finance to support developing countries in
adapting to the impacts of climate change and building resilience.
Completing the Paris rulebook
Countries reached an agreement on the remaining issues of the so-called Paris
rulebook, the operational details for the practical implementation of the Paris Agreement.

Focusing on loss & damage

Acknowledging that climate change is having increasing impacts on people
especially in the developing world, countries agreed to strengthen a network— known as
the Santiago Network, that provides vulnerable countries with technical assistance,
knowledge, and resources to address climate risks.

They also launched a new “Glasgow dialogue” to discuss arrangements for the
funding of activities to avert, minimize and address loss and damage associated with the
adverse effects of climate change.
New announcements at COP26:
There were many other significant deals and announcements which can have major
positive impacts if they are implemented. These include:

Forests: 137 countries took a landmark step forward by committing to halt and
reverse forest loss and land degradation by 2030. The pledge is backed by $12bn in public
and $7.2bn in private funding.

Methane: 103 countries, including 15 major emitters, signed up to the Global

Methane Pledge, which aims to limit methane emissions by 30 percent by 2030, compared
to 2020 levels. Methane, one of the most potent greenhouse gases, is responsible for a
third of current warming from human activities.

Cars: Over 30 countries, six major vehicle manufacturers, and other actors, like
cities, set out their determination for all new car and van sales to be zero-emission vehicles
by 2040 globally and 2035 in leading markets, accelerating the decarbonization of road
transport, which currently accounts for about 10 percent of global greenhouse gas
emissions.

Coal: Leaders from South Africa, the United Kingdom, the United States, France,
Germany, and the European Union announced a ground-breaking partnership to support
South Africa – the world’s most carbon-intensive electricity producer— with $8.5 billion over
the next 3-5 years to make a just transition away from coal, to a low-carbon economy.
 Private Finance: Private financial institutions and central banks announced moves
to realign trillions of dollars towards achieving global net-zero emissions. Among them is
the Glasgow Financial Alliance for Net Zero, with over 450 firms across 45 countries that
control $130 trillion in assets, requiring its member to set robust, science-based near-term
targets.

Key terms to know from COP26:

What is net-zero?
Net-zero emissions pertain to achieving an overall balance between greenhouse gas
(GHG) emissions produced, and GHG emissions removed from the atmosphere.

A country can be said to be net-zero when it produces no emissions, either because it

has actually phased out all emissions or because it is removing enough from the
atmosphere to offset the emissions it releases.

The latter can be achieved by restoring or increasing forest cover or through

technologies such as carbon capture.

What is carbon neutrality?

Carbon neutrality is a state of net-zero carbon dioxide (CO2) emissions. It is achieved
when anthropogenic CO2 emissions are balanced globally by anthropogenic CO2 removals
over a specified period.

There are several actions that an emitter can take to achieve this balance, such as
reducing energy consumption and emissions-producing activities, improving energy
efficiency processes, and consumption of renewable sources of energy.

A nation or an organization can also achieve carbon neutrality through carbon

offsetting, a process of compensating for CO2 emissions it generates by participating in, or
funding efforts to remove CO2 from the atmosphere.

Offsetting usually involves paying another party, somewhere else, to save emissions
equivalent to those produced by the emitter.

What is the carbon footprint?

A carbon footprint measures the amount of CO2 equivalent a country, an industry, an
individual, or a product emits or is responsible for.

The footprint is calculated in both direct emissions (from the burning of fossil fuels,
heating, and transportation), and indirect emissions during the whole lifecycle of products.

It also includes emissions of other greenhouse gases, such as methane, nitrous

oxide, or chlorofluorocarbons (CFCs).

It is expressed as a measure of weight, as in tons of CO2 or CO2 equivalent per year.

What are carbon credits?
Carbon credits are a system of purchasing and trading carbon emissions to mitigate
the growth in concentrations of global atmospheric CO2 levels.

The term carbon credit usually refers to a tradable certificate or permit that shows a
company, industry, or country, has paid to remove a certain amount of CO2 from the
atmosphere.

This certificate gives them the right to emit 1 tonne of CO2 or the equivalent of
different greenhouse gas. It is used by individuals or businesses to reduce their carbon
footprint through investing in an activity that reduced, removed, or sequestered
greenhouse gases at another site.

The trading of carbon credits has turned them into a type of climate currency,
subject to supply and demand, just like fiat currencies.

India at COP26:
India is the 3rd largest emitter in terms of net emissions whereas it has the lowest
per capita emission among the major economies of the world (17% of the world population
emitting just 5% of total).

India has announced its net-zero targets in COP26 s accordance with the Paris
agreement of 2015.

Under the Paris agreement, countries were bound to submit carbon-cutting plans and
updates by the end of 2020.

India’s 5-point pledge or Panchamrit:

Net-zero by 2070

 To increase its non-fossil fuel energy capacity to 500 GW by 2030.

 Increase the share of renewables in the energy mix to 50% by 2030.
 Reduce the emissions intensity of its economy by 45%.
 Reduce emissions by 1 billion tonnes of CO2.
 India also supported the Africa Group’s demand for $1 trillion in climate action that
the developed countries should make available for climate action in developing
nations.

India’s efforts at present:

 India’s renewable energy capacity is 4th in the world as of now and growing at a
rapid rate.
 India has seen an increase of about 25% in renewable energy capacity in the last
four years.
 Indian railways, one of the largest emitters has promised to reach net-zero by 2030–
this alone will reduce 60 million tonnes of emissions.
 India has launched international institutions for climate action such as International
Solar Alliance (ISA), Coalition for Disaster Resilient Infrastructure (CDRI),
 India along with UK and Australia will launch the Infrastructure for Resilient Island
States (IRIS) for the island nations and developing countries.
 India will also be part of the launch of the Green Grids Initiative.

COP27: Conference of Parties

 The annual Conference of Parties (COP) of UNFCCC concluded its 27th edition at
Sharm El Shiekh, Egypt.

What about COP27?

 At the COP 27, countries came together to take action towards achieving the world’s
collective climate goals as agreed under the Paris Agreement and the Convention.
 The conference took place in Sharm el-Sheikh, Egypt.
 It is the first COP to be held in a developing country since COP 22 in Marrakech in
2016.
 It seeks to accelerate global climate action through emissions reduction, scaled-up
adaptation efforts and enhanced flows of appropriate finance.
 The Agenda at COP 27
o Mitigation - The world is not on track to achieve the Paris Agreement’s stated
goal of limiting global temperature rise to 1.5 or 2°C.
o Adaptation - At COP 26, the Glasgow–Sharm el-Sheikh (Glass) work
programme was established till 2023 to define the Global Goal on Adaptation
(GGA) and set up robust tracking mechanisms
o Finance - At COP 26, developed countries noted the US $100 billion target of
climate finance, first determined in 2009, has not been delivered and is
expected to be delivered only by 2023.
o Loss and Damage - At COP 26, the G77 and China negotiating bloc
(representing 80% of the world’s population) had demanded for a loss and
damage (L&D) finance facility.

Paris Agreement

 The Paris Agreement is a legally binding international treaty on climate change.

 It was adopted at COP 21 in Paris in 2015 and entered into force in 2016.
 Its goal is to limit global warming to well below 2, preferably to 1.5 degrees Celsius,
compared to pre-industrial levels.
What are the major takeaways from COP-27 2022 at Egypt?

Loss and damage fund

 Loss and Damage (L&D) - L&D refers to impacts of climate change that cannot be
avoided either by mitigation or adaptation.
 They include economic damage to property, loss of livelihoods and destruction of
biodiversity and culturally important sites.
 L&D Fund - Loss and Damage Fund is a financing mechanism to compensate the
most vulnerable countries from climate-linked disasters.
 In the 1990s, the Alliance of Small Island States, began calling for the establishment
of a loss and damage fund.
 The G-77 (India is part of the group) and China had called for the immediate
creation of an L&D fund at COP 27 which was agreed.
 Source of funding - The fund will initially draw on contributions from developed
countries and other private and public sources with an option for other major
economies to join down the line.
 Eligibility - The fund will aid developing countries that are vulnerable to adverse
effects of climate change, though middle-income countries that are severely affected
by climate disasters are also eligible.

AWARe (Action on Water Adaptation or Resilience)

 AWARe was launched by Egypt’s COP27 Presidency, in partnership with World

Meteorological Organization (WMO).
 It is an initiative that will champion inclusive cooperation to address water related
challenges and solutions across climate change adaptation.
 AWARe aims at contributing to a successful outcome at the 2023 UN Conference
on Water.
 Priorities for action
o Decrease water losses worldwide and improve water supply
o Propose and support policy and methods for cooperative water-related
adaptation action and its co-benefits
o Promote cooperation and interlinkages between water and climate action in
order to achieve SDG 6.

Infrastructure Resilience Accelerator Fund (IRAF)

  It was launched by the Coalition for Disaster Resilient Infrastructure (CDRI) at
the India Pavilion, COP27, Sharm El Sheikh, Egypt.
 IRAF is a multi-donor trust fund, established with the support of United Nations
Development Programme (UNDP) and United Nations Office for Disaster Risk
Reduction (UNDRR).
 It will be managed by the United Nation Multi-Partner Trust Fund Office (UN
MPTFO), New York.
 It will be supported by India, the UK, Australia and the European Union.
 Objective - To support global action on disaster resilience of infrastructure systems,
especially in developing countries and Small Island Developing States (SIDS).
 Around 50 million dollars in financial commitments have already been announced for
IRAF over an initial duration of 5 years.
 One of the first initiatives to be supported by IRAF is the Infrastructure for
Resilient Island States (IRIS).

Global Shield Plan

 The Global Shield (GS) is a funding mechanism that provides funding to countries
suffering climate disasters.
 Coordinators - The Group of 7 (G7) and the V20 group of climate-vulnerable
countries.
 Objectives
o To close urgent protection gaps in countries by designing, funding, and
facilitating interventions.
o To provide pre-arranged insurance and disaster protection funding after
events such as floods, droughts and hurricanes hit
o To complement, not replace, the progress on loss and damage.
 Pakistan will be among the first recipients of funding from the G7 ‘Global Shield’
initiative.

Vulnerable Twenty (V20) Group

The Vulnerable Twenty (V20) Group was established with the inaugural meeting of
the V20 Ministers of Finance of the Climate Vulnerable Forum in 2015 at Lima, Peru.

Total Members - 58 Nations (India is not a member of V20 Group)

Technology Mechanism

 The UNFCCC launched the first joint work programme of the Technology Mechanism
for 2023-2027.
 The joint work programme will focus on high-potential sectors and high-potential
actions across water, energy, food, industry, and other systems.

Global Offshore Wind Alliance (GOWA)

COP27 has seen new countries including Germany, Japan, the UK, the US, Australia,
etc., join the Global Offshore Wind Alliance to ramp up the offshore wind to tackle the
climate and energy security crises.

Global Offshore Wind Alliance (GOWA)

 Global Offshore Wind Alliance was initiated by the International Renewable
Energy Agency (IRENA), Denmark and the Global Wind Energy Council
 It will bring together governments, the private sector, international
organisations and other stakeholders to accelerate the deployment of
offshore wind power.