Day 10 of COP27, Solutions Day, was the final thematic day for COP27. Transportation was a major theme, featuring in several major announcements. For example, the COP27 Presidency launched the Low Carbon Transport for Urban Sustainability Initiative (LᶜO₂TUS), which aims to bring widespread systematic changes to transportation systems in order to decarbonise existing networks. LᶜO₂TUS seeks interventions on:
- improved investment for e-vehicles and sustainable mobility infrastructure;
- investment for informal transportation by providing salaried labour for those working in informal transportation and integrating informal modes with expanded public transport networks; and
- net zero urban transport policymaking capacity building in low- and middle-income countries.
Similarly, the Sustainable Urban Resilience for the next generation initiative (SURGe), also launched by the Presidency, has five objectives to assist in achieving the Paris Climate Goals and Sustainable Development Goals:
- improving energy efficiency, the use of low-carbon materials and processes, and land use policies for building and housing;
- advancing renewable energy and energy efficiency in cities;
- enhancing urban waste management to enable ‘zero waste cities’;
- encouraging the uptake of public transport and active mobility; and
- improving access to potable water and management of water for households and public buildings.
SURGe includes representatives from the national governments of Japan, Morocco, Egypt, and Nauru, and local government representatives from across the world.
The Accelerate to Zero (A2Z) coalition was launched, comprising over 200 organisations across government, industry, and civil society. Its main purpose is to make all new car and van sales in leading markets zero emissions by 2035, with global conformity by 2040. The United States, meanwhile, launched its own campaign designed to improve zero-emission vehicle penetration in emerging markets. Named the Zero Emission Vehicles Emerging Market Campaign (ZEV-EM-C), the initiative will run for one year. The Collective for Clean Transport Finance, a coalition of five leading organisations, was announced, with the purpose of initiating finance projects aimed at investments in e-buses, road freight, and two-wheel electric vehicles.
The finance necessary to fund these new transportation programmes featured throughout the announcements and in the draft text for the COP27 cover decision, which was released in a twenty-page ‘non-paper’. Notably, the text estimated a requirement of $4 trillion per year in renewable energy investment until 2030 to reach net zero emissions by 2050. A low-carbon global economy will itself require an estimated investment of at least $4-6 trillion per year until 2030. The text notes that these figures will require transformation of the financial system and cooperation between government, central banks, and commercial banks. It is also notable that the text begins by acknowledging the global challenges the international community is facing due to overlapping crises of food, energy, geopolitical and economic challenges, compounded by more frequent and intense climate impacts.
In negotiations, Parties expressed diverging views on a number of aspects of the draft decision text, including its references to multilateral development bank reform, debt, and phasing down fossil fuel subsidies and use. A revised version of the draft will be released on 18 November.
Meanwhile in other negotiations, facilitators from Australia and India indicated that draft text has been prepared on the New Collective Quantified Goal for Climate Finance that could provide an approach that will enable a decision on the new goal to be made in 2024. The facilitators are now expected to meet with Heads of Delegation to hear Parties’ views. As to Article 6 negotiations, revised decision drafts have been prepared, and technical-level negotiations were expected to continue into the evening.
In the Australian Pavilion, the events highlighted ocean based climate solutions and the importance of climate action at the grassroots level. The Coalition for Disaster Resilient Infrastructure called for action to be taken towards resilient coastal infrastructure, and discussed pathways that can be taken to strengthen disaster and climate resilience of infrastructure in the Indo-Pacific, particularly in coastal areas.