The Breakthrough Agenda
COP27 aimed to break the stalemate of previous climate forums, where few actionable and sustainable outcomes were achieved. The recently concluded conference in Egypt developed several frameworks called the "Breakthrough Agenda" to combat climate change with tangible, implementable and aggressive mechanisms.
BUILDING KEY INFRASTRUCTURE
Though the complete list of initiatives on the agenda totals in the hundreds, various projects can be grouped into five key areas: Clean Power, Road Transportation, Steel, Hydrogen, and Agriculture. According to the agenda, countries pledged to switch to renewable energy and electric vehicles (EVs), make steel production release no carbon, build 100 or more clean hydrogen power plants, and divert funds to achieve sustainable agriculture within 2030. The UN and other international organizations will advocate for these endeavors by providing funds, expertise, and facilitating policies. According to the UNFCCC (United Nations Framework Convention on Climate Change), if these initiatives succeed, they will reduce emissions by more than 50%, which is projected to directly save 2 million lives annually.
The UNFCCC states that apart from the environmental and humanitarian benefits, the plans will create more than 20 million jobs worldwide, increasing the world’s GDP by 4%. For businesses, more developed economies result in higher purchasing power from the people, which would drive corporate growth. Aside from more transactional activities, firms can also expect funding and support from the public sector. Governments worldwide will increase their cooperation with international bodies to spur internal development in the five key areas and companies dealing with these matters will be the key to this endeavor. They can work with the governments to come up with a clean and renewable model, while research firms and universities will receive research and development funding to create more technology that supports the development.
All in all, this plan will result in GREATer livelihoods for everyone at every level—individual, governmental, and intergovernmental. As such, cooperation across the board is required. When businesses and governments cooperate, GREAT results can be achieved.
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