Highlights of IOE @ COP27

IOE wraps up a productive COP27 with a strong level of participation.

COP27 wrapped up in Sharm El-Sheikh after lengthy and complex negotiations and discussions that saw the process going into overtime, over the weekend, and finally closing with the gaveling of a host of decisions on Sunday, 20 November. The year-long preparations and build-up resulted in a very busy and well-attended meeting but was tempered by the challenges of the geopolitical and economic context and the divided perspectives on some of the difficult issues on the agenda.

The engagement of the International Organisation of Employers (IOE) at COP27 was stronger than ever before. In partnership with the Federation of Egyptian Industries (FEI), IOE hosted the Business Pavilion of Egypt in the Blue Zone, which provided capacity for informal consultations with members and partners, promoting the activities and priorities of employers, establishing new relationships and collaboration opportunities as well as hosting many side-events focused on Egyptian and global employers and their ambitious and impressive actions and progress on climate action. IOE was also present in the ILO Just Transition Pavilion, the first time ILO hosts a pavilion, and was able to work closely with ILO colleagues hosting events, participating in others, and driving the just transition agenda forward.

In total, IOE organised 10 events, including a first-ever official UNFCCC side-event, in partnership with Business Unity South Africa (BUSA), General Confederation of Moroccan Enterprises (CGEM), and the Mohammed VI Foundation for the Protection of the Environment. Furthermore, member and IOE representatives participated in over 10 other events, ranging from high-level Presidency events with Ministers, to UN-led events with many participating agencies, and private-sector focused discussions with companies and other stakeholders. This engagement and the effort taken to plan and prepare was well worth it as IOE established a strong base for further engagement for the next year as well as many opportunities for creating new initiatives and partnerships.

IOE also launched a major initiative, the Employers’ Alliance for Green Skills, during COP27, with several African members joining forces to work with their governments and employers globally on advancing the skills agenda through anticipation, planning, mapping, national skills councils and dedicated policy, education and training frameworks. The Alliance was kicked off this year with the signing of a Letter of Intent between IOE, FEI and the Ministry of Planning and Economic Development. Don’t hesitate to reach out to us if you’d like to learn more!

The business and industry constituency delivered a final statement at the Closing Plenary. Unfortunately, mention of the key role of the private sector and business contributions to mitigation and adaptation has been left out of the cover decision text. The just transition and skills agenda was highlighted and focused on in many discussions but it still remains to see how much impact this will have on countries’ NDCs.

Nearly 200 countries agreed to the Sharm el-Sheikh Implementation Plan and many other decisions, including a historic outcome on the issue of loss and damage and establishment of a fund, a mitigation work programme, progress on the Global Goal on Adaptation which will be finalised next year, additional guidance on the operationalisation of Article 6 on international carbon markets and the overarching “cover decisions” – the high-level political section of the COP.

The Sharm el-Sheikh Implementation Plan shows some good progress towards the implementation of the Paris Agreement particularly concerning support for vulnerable countries, however some see the outcomes as lacking ambition on some points. At the Closing Plenary COP27 Presidency Sameh Shoukry noted that the outcome “is both a delicate balance and a manifestation of the highest ambition that can be reached at this point”.

All of the decision documents can be found here on the official page. The UNFCCC press release for the end of COP27 is published here. For a very detailed and informative overview of the different decisions and outcomes please consult this analysis.