Some frustrations emerged Thursday as it became clear that negotiations on the ‘Cover Text’ for COP27 would not begin until Saturday 12 November. In previous COPs, the text has been almost finalized in negotiations before the meetings started.
Wednesday’s cautious improvement in mood following climate finance announcements by the UK, France and United States soured again Thursday. A number of organizations called for more details of the United States’ announced plans to launch a carbon credit program, dubbed an “Energy Transition Accelerator” (ETA), such as when companies could buy the credits and how the system would be policed, with some groups arguing that the plans risked distracting companies from reducing emissions by compensating for them with relatively cheap credits.
In another indication of the fractious nature of this year’s COP, NGOs called for the end of fossil fuel sponsorship of COP amidst news stories that over 600 fossil fuel representatives are in Sharm ̶ a 25% increase on COP26.
· Israel, Lebanon and Iraq announced plans to work together to reduce emissions.
· Norway announced the postponement (for four years) of development of The Wisting field – a major oil field and the world’s most northerly oilfield exploitation.
· A large protest activists took place outside the Conference Centre, linking the issues of climate justice and human rights.
· Israel and Jordan signed a memorandum of understanding (MOU) for a water-for-energy deal (first announced a year ago), under which Jordan will build 600 megawatts of solar power capacity to export electricity to Israel in exchange for 200 million cubic meters of desalinated water.
Friday is billed as ‘Decarbonization Day’ and includes sessions focused on the decarbonization journeys of different industrial sectors ̶ the steel, cement, oil and gas and fertilizer industries. It will also provide an update on progress from the Methane Pledge made at last year’s COP and there will be sessions focused on supporting low-carbon development pathways for the developing world, building on the Just Energy Transition Partnership for South Africa announced at last year’s COP.