COP27 climate change summit: cooperation and clashes, but no time to give up

The COP27 climate change conference saw breakthroughs on climate finance, but failures to adopt more ambitious emissions reduction pledges and agree the further phase-out of all fossil fuels. The talks showed that multilateral climate cooperation is still possible despite a more multipolar world, but moving from targets to action is challenging.

• In a year marked by war, an energy crisis and a global shift to a more fragmented, multipolar world, the COP27 conference showed that climate cooperation is still possible.
• The talks failed to make necessary, more ambitious emissions-cutting pledges or clear commitments to phase out all fossil fuels. 
• However, the summit yielded breakthroughs on climate finance that could help to scale up vital funding flows, particularly for the developing world.
• Enacting change in practice is challenging but essential to effect the enormous acceleration in efforts needed to meet future targets.