SA welcomes release of COP27 draft outcomes
South Africa congratulates the Egyptian COP27 Presidency on the release of the draft outcomes text to the United Nations Framework Convention on Climate Change (UNFCCC)'s Sharm el-Sheikh Conference of Parties (COP27), which outlines the following:
It reflects the urgency of the climate crisis and the need to keep the 1.5-degree temperature target alive during what the International Panel on Climate Change (IPCC) calls the "Critical Decade", including by providing a clear programme to advance the mitigation agenda from now to 2030.
The draft correctly frames the climate crisis and its solutions in terms of the sustainable development goals and Just Transitions, leaving no one left behind, and the need for broader financial sector reform to achieve these. The proposal to seek multilateral consensus on making financial flows consistent with pathways towards low emissions and climate resilient development will open new investment opportunities in Africa for clean energy investments that will equally address the continent's energy poverty crisis.
COP27 is providing critical momentum to reform the Multilateral Development Banks and International Financial Institutions and we expect the shareholders of these institutions to take decisive action to scale-up climate finance in 2023 and make their institutional arrangements fit for purpose.
The draft text further recognizes the urgency of finding a solution for developing countries for loss and damage caused by climate change and agrees to establish new financing arrangements and a mechanism to address this.
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On Africa's priority issue of adaptation, there is agreement amongst Parties to accelerate work on identifying indicators and targets to facilitate support to achieving the goal and assessing collective progress. This is an essential step towards implementation of the Adaptation Goal and we have agreed to focus on specific sectors, including: Health, poverty and livelihoods; Terrestrial and freshwater ecosystems; Oceans and coasts; Water resource management; Food; Cities and settlements; Cultural heritage and Mountain regions and biodiversity.
While we welcome the incremental progress reflected in the Presidency's package on finance towards the establishment of the new collective goal in 2025, we believe further urgent action is required to meet developed countries' obligations.
On balance, the draft text suggests there can be good progress on implementation, and we are confident that we are well placed to call this African COP a success.
We therefore call on all Parties to work constructively and in a spirit of compromise to achieve outcomes that reflect the sense of urgency of the climate crisis.
