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ARTICLE · 17 NOVEMBER 2022

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COP27: From Grey Glasgow To Sunny Sharm

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The 27th Conference of the Parties of the United Nations Framework Convention on Climate Change (COP27) has opened in Sharm El-Sheikh, Egypt...

United KingdomEnvironment
Tim Baines
Tim Baines
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J. Paul Forrester
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The 27th Conference of the Parties of the United Nations Framework Convention on Climate Change (COP27) has opened in Sharm El-Sheikh, Egypt, against a global backdrop of massive hikes in energy prices, inflation, increases in interest rates and uncertainty about the robustness of the implementation of the ESG regulatory agenda (particularly in the US). In 2022, heat waves in Europe killed more than 15,000 people and nearly 1,700 died as a result of flooding in Pakistan. Hurricane Ian caused widespread devastation. A recent report by economist Nicholas Stern stated that $2 trillion (£1.75 trillion) per year will be needed by 2030 to help developing countries cut their greenhouse gas emissions and cope with the effects of climate breakdown —switching away from fossil fuels, investing in renewable energy and other low-carbon technology, and coping with the impacts of extreme weather.

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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