COP27 in Sharm el Sheikh: Why Should It Matter To You?

Publish Date: 04 Oct 2022

Finance Today

COP27 in Sharm el Sheikh: Why Should It Matter To You?

The Conference of Parties 27 (COP27)

The United Nations Climate Change Conferences -part of the United Nations Framework Convention on Climate Change (UNFCCC) - are attended annually by around 196 countries and will take place for the first time in an African country, specifically in Sharm El Sheikh, Egypt. The conference will take place between November 6th and 18th 2022


The COP is always attended by world leaders and prominent environmental activists to discuss climate change on a global level. The conference also revolves around finding solutions for climate change, how to deal with these changes, and how humans influence or cause these changes in the first place.


Climate change conference 2022


The climate change conference 2022 in Sharm El Sheikh is the 27th of its kind since the UN agreed that climate change has serious impact on the environment and global economy and started researching how to attempt to limit and control the damage


These discussions also include how to assist developing countries in facing climate change as they by nature have lesser resources to combat such issues


Egypt and COP27


Egypt signed the UNFCCC in 1994. Egypt is one of the endangered countries due to climate change and is more vulnerable to natural disasters occurring due to the 1.5 degree increase in the earth temperature. Which is why when president El-Sisi attended the United Nations Climate Change Convention of the Parties in Paris he requested that the international community allocate more than $100 billion per year to combat climate change and the resulting natural disasters which may occur


Global warming


As we all know Egypt has many old cars running on petrol and not natural gas. Emissions from these cars increase global warming and therefore one of the solutions was to replace old cars, taxis, and micro buses with new ones that are less harmful to the environment


How will climate change affect Egypt?


As mentioned earlier Egypt is one of the most vulnerable countries to climate change which the Ministry of Environment clarified in its statement as follows:

  • The increase or decrease of normal temperatures
  • Possible floods and storms which may endanger human lives as well as spread diseases such as malaria, and dengue fever among others
  • Rising sea levels on coastal areas which will lead to the erosion of Egyptian coasts
  • Increase of desertification and water shortages
  • Increase of brackish water which is a mix of seawater and freshwater which will lead to deterioration of crops


How will Egypt be affected both economically and environmentally?


The Glasgow Climate Pact 2021


The Glasgow 2021 accord imposes several future changes over the next five years such as using electric cars instead of cars that run on fossil fuel and decreasing the price of electric cars to be more affordable to the public. 


More than 40 countries signed over decreasing the use of coal and using solar and nuclear energy instead.

The accord also mentions using building material with lower carbon levels and increasing green areas. 


Changes in the architecture and materials used in housing were also included; this is to make our future homes ready for harsher weather conditions.


The whole world will be affected by these climate changes


Climate change will affect the whole world both environmentally and economically. The price of certain essential food items which depend on production methods that are harmful to the environment such as beef for example will increase.

More than 400 private financial institutions pledged to invest in environmentally friendly technology

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