ODI's Senior Climate Expert Gençsü discusses COP27 priorities on Bloomberg HT

Bloomberg HT Journalist Ali Cinar interviewed ODI's climate expert Ipek Gençsü on expectations for the COP27 summit, climate finance, and energy efficiency.

Senior Expert Gençsü said that this year's COP is the fifth COP held in Africa so far. The primary objective is implementing the resolutions and conclusions adopted last year at COP26, which were principally grounded on the Paris Agreement and previous COPs.

She also highlighted that another key objective of this conference is to restore the trust between developed and developing countries. 'Because there are countries with historically greater responsibility for the climate crisis whereas the countries that are impacted by the crisis do not assume responsibility,' she added.She expects that this year's COP will not deliver a definitive solution; however, according to the resolutions adopted last year in Glasgow, it is expected that action will be taken for the three items to be concluded by next year.

-Adaptation. There are efforts toward a global adaptation to cope with the climate crisis.

-The damages and losses caused by climate change. This year, a counter-mechanism or an assurance to compensate for such damages is not anticipated. However, next year's COP is expected to adopt definitive resolutions and conclusions.

-The third one is climate finance: that is, if there will be any progress on supporting countries with developing climate finance.

Senior Expert Gençsü stated that it is important to adapt to climate change so that the carbon emissions of developing countries do not increase in the future, considering their growing populations and need for energy. 'Providing financial support is of utmost importance to ensure low-carbon development for developing countries. Significant steps have been taken regarding this matter in Copenhagen. Developed countries made a commitment to providing financing to developing countries with an annually increasing amount and reaching 100 billion dollars per year in 2020. Still, they could not raise this amount yet,' sheadded.

She hopes that if we reach at least $100 billion for the adaptation, climate justice will be served in the next year or two and the disputes between countries will be settled.

Journalist Ali Cinar asked Gençsü about the effects of policies against the energy crisis on climate change adaptation goals.

Senior Expert Gençsü said that energy efficiency is attracting particular attention. 'If we revisit the resolutions adopted at previous COPs, apart from those regarding the damages and the adaptation, there is a fourth resolution redelivered at COP 26 reasserting that the global warming should not exceed 1.5 degrees compared to that of the pre-industrial period,' she stated. Gençsü said that they are aware that the consumption of fossil fuels is the primary source of emissions; they should decrease these emissions and move toward achieving the net zero goal.

She also said, 'Due to the energy crisis, many countries are now inclined to fossil fuels to ensure energy security and grant many support incentives to protect consumers, including subsidies, etc. But, it would be better both for climate change and energy security if the countries invested that finance in sustainable energy to increase energy efficiency and a system that would improve energy saving, as you mentioned.'

She also spoke about the most recent report published by the International Energy Agency on the energy outlook of the earth. The Russo-Ukrainian war may have some negative implications for the energy crisis.

'Everyone has been compelled to use fossil fuels again. However, they realize that we can no longer rely on fossil fuels in the mid and long term, which quickens the transition to clean energy. We should be more cautious in the short term, for sure. We anticipate that this positive development will make the transition to sustainable systems and clean energy faster,' she added.

About Ipek Gençsü:She is Senior Research Fellow at ODI.Ipek has over 10 years of experience in climate and energy policy, with a focus on sustainable finance.Ipek has an MSc in Political Theory and a BSc in Philosophy and Economics, both from the London School of Economics, and a Certificate in Global Philanthropy from New York University.

About Ali Cinar: He is a journalist based in Washington, DC. He represents Ciner Media US Group(Haberturk TV and Bloomberg HT). Ali Cinar was awarded the Ellis Island Medal of Honor and was the youngest Turkish American to receive this award in over 30 years. He is a Ph.D. candidate in Communication at Liberty University,