COP27

KPMG is providing on-the-ground insights from the 27th Conference of the Parties (COP27) to the United Nations Framework Convention on Climate Change (UNFCCC) in Sharm el-Sheikh, Egypt.

COP27 represents the world’s last best chance to limit global warming to 1.5°c, turn the Paris commitments into action, and help build a sustainable future for all. It is an opportunity for climate negotiations and to showcase climate action on the world stage.

KPMG’s COP27 Resource Center provides climate change insights aimed at helping you understand the potential impacts that COP27 may have on business, government, and society at large. We’re focused on measurable actions, and our insights can help leaders identify transformation opportunities tailored to their unique circumstances and prepare for a more sustainable future.

This is an opportunity to create a better world and tackle the most critical issues of our time. The only way to do this is together, but we must act now.

Are you with us?

The status quo is no longer acceptable, and innovation requires the need to engage a diverse range of stakeholders across the globe. COP27 is connecting national governments with cities, regions, businesses, and investors to accelerate the delivery of sustainable climate innovation. 

To showcase the importance of accelerating climate and sustainable energy innovation, KPMG professionals have developed the Net Zero Urban Program in collaboration with United Cities, which seeks to accelerate the scale and speed at which we can achieve net zero in urban environments.  To complement the program, a new concept has been developed called the ‘decarbonisation innovation exchange’ which will be used as a digital platform to help attract the providers of technology solutions and financial investors to address the problems identified using the digital twin technology.

Decarbonisation is a global imperative and should be a priority for businesses and governments — if the world is to combat climate change and meet its climate ambitions effectively. No one-size-fits-all solution exists and understanding the realities of climate change — and the role decarbonisation plays — is critical in the path to net zero. 

KPMG professionals are passionate about helping organisations deliver on their net zero ambitions. The clean energy transition has the potential to not only lower emissions but strengthen resilience in the face of climate change and future market shocks. And a proper climate transition plan can help an organisation to remain sustainable and profitable in the future. KPMG firms support organizations in developing their climate transition plans, undertaking activities including benchmarking against peers, performing gap analysis using pre-determined criteria and creating the overall transition strategy.

To ensure a sustainable energy transition is done fairly and equitably, all stakeholders must consider environmental and social outcomes equally. A just energy transition is an opportunity to reduce social inequalities and other undesirable impacts on economies and vulnerable communities worldwide. It is also an opportunity to step up and help developing countries with resources that help them adapt.

KPMG, the global organisation, is supporting the UN Development Programme and the World Wildlife Fund in the development of the Alliance for Just Energy Transformation (A-JET). This voluntary initiative aims to share understanding and catalyze transformative action toward the successful implementation of just transition policies worldwide — even as the details of the transitions differ across each jurisdiction. The objective is to establish the initiative and set up a work program for the year ahead.

If the world is to reduce and mitigate the effects of global warming, the mobilisation of capital can translate into tangible action. Investment can act as a catalyst for change — and resource mobilisation is a critical effort in the fight against climate change.

KPMG International is a sponsor of the Resilience Hub, a virtual and physical space to mobilise action on resilience at COP27 and beyond. As part of the ongoing collaboration with the Global Resilience Partnership, KPMG professionals will bring perspectives on accountability as it relates to climate resilience and finance.

The young generation of today has grown up in a global and digital environment and their horizons may be quite different to that of their parents and generations before. Ensuring that the voice of NextGen is heard loud and clear is one of the objectives of COP27.