Why COP27 should be the last of these pointless corporate love-ins – The Property Chronicle
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Why COP27 should be the last of these pointless corporate love-ins

The Analyst

It’s a glorious afternoon at a luxury resort in Egypt, with six swimming pools leading to a lovely little stretch of beach on the Red Sea. A salsa aquatic class in one of the pools has several enthusiastic participants. Elsewhere, guests are lounging on deck chairs sipping ice cold cocktails. Cheerful waiters are refilling glasses and serving snacks.

Welcome to Sharm el-Sheikh, Egypt’s popular resort and host to the 27th meeting of the Conference of the Parties of the United Nations Framework Convention on Climate Change, or COP27. Or, as some critics would put it, the Conference of the Polluters.

My first impression on arriving was that I had entered a gigantic theme park. The roads leading to the resorts were lined with brilliantly lit palm trees in green and yellow, and lamp posts draped in dazzling coloured lights. The night sky was criss-crossed with bright searchlights from the venue to draw attention to the climate emergency facing humanity.

This is my fourth COP and I don’t intend to come again. Given how little these conferences have achieved since they began in 1995 – not to mention their gigantic carbon footprints – I am convinced it’s time for them to stop.

After 27 years of negotiations, conflicts and breakdowns, the world’s nations have basically agreed: (1) climate change is a serious problem; (2) something must be done to fix it; (3) rich nations should do more; and (4) based on the Paris agreement of 2015, every country should set their own emissions goals and do their best to meet them.

The UN claims that the Paris agreement is “legally binding”, but there are no enforcement mechanisms or penalties for countries in breach. Even current pledges will not be enough to meet the target to restrict global warming to the 1.5℃ target agreed in Paris.

How COP works

There are three worlds that inhabit COP meetings, but carefully evade each other. Official country delegates attend meetings and draft policies. Then there are the corporates and industry associations, who are by far the most significant and powerful presence here.

Over 600 fossil-fuel industry lobbyists are attending. This is more than the combined delegations from the 10 most climate-impacted countries and the second-largest delegation after the United Arab Emirates, itself a petroleum power. Among those 600 lobbyists, some have even been invited as part of 30 country delegations.

The third group at COP consists of civil society organisations from a wide range of countries, but dominated by non-governmental organisations (NGOs) from developed countries. Growing numbers of NGOs representing the interests of business and industry (BINGOs) occupy the civil society space in COP meetings to promote particular resource and energy-use agendas. Funders include major oil corporations like Shell and Exxon, nuclear giants like Areva, and big miners like Rio Tinto and BHP.

Business and civil society delegates both participate in climate negotiations and host side events showcasing their climate actions. These can seem to take place in parallel realities. Directly after one session organised by international NGO Global Witness about the killings and disappearances of protesters against mining projects in Africa, Asia and Latin America, was a session on ‘mining governance for a just energy transition’.






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