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

About CoP-27

  • Held Between: 6-18 November, 2022
  • First CoP held at: Berlin
  • CoP-26 held at: Glasgow, UK.
  • CoP-28 will be held in: Dubai, United Arab Emirates (UAE) (30 Nov-12 Dec.).
    The major initiative from COP-27, 2022 at Egypt Mangrove Alliance for Climate (MAC)
  • MAC initiative is led by the UAE and Indonesia, and includes India, Sri Lanka, Australia, Japan, and Spain.
  • It seeks to educate and spread awareness worldwide on the role of mangroves in curbing global warming and its potential as a solution for climate change.
  • Under MAC, UAE pledges to plant 100 million mangroves by 2030.

AWARE (Action for Water Adaptation or Resilience)

  • AWARE initiative, which was drafted by the CoP-27 presidency with support of world meteorological organization, was launched on 14 November, 2022
  • It is an initiative that will champion inclusive cooperation to address water related challenges and solutions across climate change adaptation.

‘Loss and Damage’

  • ‘Loss and Damage’ refers to impacts of climate change that cannot be avoided either by mitigation (cutting greenhouse gas emissions) or adaptation (modifying practices to buffer against climate change impacts).

Infrastructure Resilience Accelerator Fund (IRAF)

  • It was launched by the Coalition for Disaster Resilient Infrastructure (CDRI) at the Indian: 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).

Global Shield Plan

  • The Global Shield (GS) is a funding mechanism
    that provides funding to countries suffering climate
    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.