I had a change to experince the first week of #cop27 and took part in the following events:
- 1. Climate Action Innovation Zone hosting #
ClimateActionStage, # SustainableInnovationForum and #hydrogentransitionsummit - S&P Global Sustainable1 hosting #
ClimateFocusedNaturePositive event. - World Climate Foundation hosting #
WorldClimateSummit - Extreme Hangout hosting many intestesting discussions giving voice to young and #indigenous communities.
- Economist Impact hosting The digital trade transformation for efficiency, sustainability and inclusivity event.
- TBD Media Group hosting #
Vision2045Summit - Financial Times hosting #Climatecapital
event. - Hub Culture hosting interesting panels and networking events together with Hedera, Ahura AI.
- The New York Times hosting #Climateforward
event together with Morgan Stanley.
What do business leaders need to know about COP27?
Based on conversations with executives, government leaders, and official delegates at COP27, McKinsey attendees saw ten key takeaways to accelerate the net-zero transition and achieve energy sustainability:
- The private sector has a key role to play in accelerating decarbonization, particularly with cross-business collaboration.
- Leaders should maintain focus on the long term while adjusting to the realities of the present, squaring resilience with net-zero commitments.
- Private and public sectors should go on the offense, making bets on green energy and deploying capital at scale.
- Significant investment in promising new green technologies is needed, from carbon capture to sustainable agriculture.
- Leaders should prepare for the biggest capital reallocation of our lifetimes. McKinsey estimates that capital spending on assets for the net-zero transition will need to increase by $3.5 trillion annually through 2050.
- Nature-based solutions, like reforestation and improving biodiversity, can help address the converging crises of climate change and nature loss.
- Leaders should collaborate across ecosystems, involving private, public, and philanthropic communities in sustainability efforts.
- Leaders should facilitate a just transition for lower-income countries, which are, on average, more likely to be exposed to certain climate hazards.
- Africa will play a pivotal role in the energy transition. An orderly energy transition in Africa could unleash crucial economic growth in the region.
- Business and government leaders should transition from commitment to action for COP28. We anticipate more commitments from corporates, countries, and coalitions.
Source: What is COP? | McKinsey
