Source: The post is based on the article “COP27: Joining the dots between Binsar and Sharm El-Sheikh” published in the Indian Express on 5th November 2022.
Syllabus: GS 3 – Climate Change.
Relevance: About the inconclusive deliberations at the COP27.
News: Inconclusive deliberations at the COP27 in Sharm El-Sheikh will increase the impacts of climate change.
Why COP27 failed to achieve universal target?
The COP27 agreed to establish a compensatory fund for the poor countries impacted by global warming. But it failed to do more than agreeing.
Multiple stakeholders at the conference were not aligned on “values” and the “value” of the various action plans presented by them.
All this is because all nations tries to define a central path.
|Read more: COP27: Outcomes and Concerns – Explained, pointwise|
What needs to be done?
“Values” have to be brought into convergence before the tension between development and ecology can be sustainably resolved. This can be done by
Following Gandhian principles of economics: Gandhi emphasised on decentralised interventions. As these can leverage local talent, crafts and the environment. If the objective is to create income generating opportunities and secure jobs without disturbing the natural ecology then Gandhian economics is the way.
This can be followed by looking for local initiatives to gain initial momentum. Later scale them and provide market access through the support of government and collaborative linkages with corporates, NGOs and specialists.
|Read more: COP-27 commits to compensation fund, but leaves important questions for later|