Skip to content

Canada's Business and Tech Newsroom

  • Professional Subscription
  • Partnerships & Advertising
  • Licensing & Syndication
Log In Subscribe
Welcome,
  • My Account
  • Log Out
  • Business
  • Tech
  • National
  • The Big Read
  • Briefings
  • Commentary
Search
Log In Subscribe
Welcome,
  • My Account
  • Log Out
Special Report

‘Cooperate or perish’: At COP27, a mad scramble to put words into action

SHARM EL-SHEIKH, EGYPT — The smell of wet paint and the sound of power tools wafted through the heavily air-conditioned conference centre in the Egyptian resort town of Sharm el-Sheikh on Sunday as thousands of people trickled in from the desert heat. The sprawling venue is home to the COP27 climate conference for the next two weeks and even as the program began organizers were putting the finishing touches on the maze-like space of demonstration booths, food stands, meeting rooms and conference halls.

Special Report

‘Cooperate or perish’: At COP27, a mad scramble to put words into action

By Catherine McIntyre
Sameh Shoukry, president of COP27, speaks at the conference in Sharm el-Sheikh, Egypt, on Sunday Nov. 6. Photo: The Canadian Press / Peter Dejong
Nov 7, 2022
A A
A Small A Medium A Large
Share

Gift

Share

SHARM EL-SHEIKH, EGYPT — The smell of wet paint and the sound of power tools wafted through the heavily air-conditioned conference centre in the Egyptian resort town of Sharm el-Sheikh on Sunday as thousands of people trickled in from the desert heat. The sprawling venue is home to the COP27 climate conference for the next two weeks and even as the program began organizers were putting the finishing touches on the maze-like space of demonstration booths, food stands, meeting rooms and conference halls.

The sense of urgency extends beyond the last-minute construction. Last year’s conference in Glasgow had a higher profile, and produced a lot of bold talk about solutions to the climate crisis. This year’s edition has been billed as the “implementation COP.” 

The Logic at COP27

COP27 in Sharm el-Sheikh, Egypt, is being billed as the “implementation COP,” where leaders will be held accountable for their climate commitments. But Russia’s invasion of Ukraine, an energy crisis, rising inflation and a global economic slowdown have transformed the world since nations last met in Glasgow at COP26. 

The Logic’s Catherine McIntyre is reporting on the ground in Egypt, speaking to policymakers, climate experts, investors and business leaders to find out how the negotiations will affect Canada’s net-zero ambitions. 

Alok Sharma, a British member of parliament who was president of last year’s COP in Glasgow, opened the summit Sunday by scolding world leaders for their lethargy in the face of severe climate disasters—deadly flooding in Pakistan and Nigeria, record heat in Europe, the U.S. and China, to name just a few. Sharma reminded countries that signed the Glasgow Climate Pact last year they were meant to have submitted more ambitious climate targets by now. Just 29 of 197 of them have. (Canada is not one of the countries that strengthened its climate plans ahead of COP27. Prime Minister Justin Trudeau is not attending the conference.)

Sharma acknowledged some reasons for the stasis—Russia’s illegal war in Ukraine, rising inflation and debt, food insecurity—but urged the world to look beyond them. “As challenging as our current moment is, inaction is myopic and can only defer climate catastrophe,” he said. “We must find the ability to focus on more than one thing at once.” 

World leaders listen to speeches at the COP27 conference in Sharm el-Sheik, Egypt, on Nov 7. Photo: The Associated Press / Nariman El-Mofty

One new focal point at COP27 is loss and damage funding—that is, reparations for climate-vulnerable countries from those that have enriched themselves by exacerbating global warming. Sameh Shoukry, Egypt’s foreign affairs minister and the current COP president announced Sunday that the topic has been added to the summit’s official agenda. While leaders have long paid lip service to the idea that wealthy countries should pay for the problems their resource extraction and consumption have created for poorer countries, this is the first time it will be part of formal negotiations and will factor into the binding document heads of state are expected to sign at the end of the summit. 

Related Articles

From Justin Trudeau’s absence to Europe’s energy crisis: Six issues that will define COP27

By Catherine McIntyre

Expectations vs. reality: Canada’s climate progress ahead of COP27

By Catherine McIntyre

“I think it’s great that they’re talking about it, but at the end of the day, it’s really about the actions,” Temitope Onifade, a Nigerian-Canadian researcher with the Canada Climate Law Initiative, told The Logic. “Having it on the agenda doesn’t necessarily mean parties are going to agree on the key actions to address loss and damage.” Onifade said one way to actually make progress on the file would be to create a fund to which wealthy countries like Canada would contribute. 

The agenda item effectively tasks the conference with an effort to mend relations between upper middle-income and emerging economies. On Monday, United Nations Secretary-General António Guterres pressed this idea by proposing a Climate Solidarity Pact that would see “all countries” work together in the interest of keeping global warming below 1.5 C. (The Glasgow Climate Pact signed last year committed to keeping global warming “well below 2 C” from pre-industrial levels while “pursuing efforts” to stay below 1.5 C. We’re currently on track for 2.5 C warming by 2030, assuming every country meets its every climate commitment).

Guterres’ proposal calls to end fossil fuel dependence; aggressively reduce emissions; for wealthy countries and financial institutions to help with poorer countries’ energy transitions; and to provide universal, affordable and sustainable energy for all. He made a special appeal to the U.S. and China—the world’s two largest economies and emitters—to set aside their differences to enable global progress on climate change. 

“Humanity has a choice: cooperate or perish,” said Guterres. “It is either a climate solidarity pact—or a collective suicide pact.” 

Elsewhere at COP27:

• The global price on carbon needs to reach at least US$75 per ton by 2030, said the head of the International Monetary Fund, noting that progress is still “way too slow.”  

• U.S. climate envoy John Kerry is rallying support from governments, companies and climate experts for a new framework to sell businesses carbon credits that will help pay for the energy transition in developing countries.

Gift the full article

• An analysis by Carbon Brief found that Canada, the U.S., Australia and the U.K. are billions of dollars short of paying their “fair share” of the US$100 billion climate fund for developing countries. Canada has contributed about 37 per cent of its share and owes about US$3.3 billion. 

• Activists at COP27 are urging governments to end all new oil, gas and coal projects through a “fossil fuel nonproliferation treaty.” 

• Prominent African activist Mohamed Adow accused the European Union of “energy colonialism” and using Africa as a “gas station” as the bloc scrambles for alternatives to Russian oil and gas.  

#climate change #COP27 #ESG investing #green finance #loss and damage

Sponsored Content

The road to risk-smart regulation

By Deborah Aarts

Why cybersecurity needs to match pace with AI

By Jessica Aftimus Rosa

How to shift your workforce from AI experimentation to adoption

By Jessica Aftimus Rosa
Paid promotional content

Loading...

Thanks for sharing!

You have shared 5 articles this month and reached the maximum amount of shares available.

Close
This account has reached its share limit.

If you would like to purchase a sharing license please contact The Logic support at [email protected].

Close
Want to share this article?

Upgrade to all-access now

Close
Gift the full article!

You have gifted 0 article(s) this month and have 5 remaining.

Copy link and gift
Copy Link
Email to a friend
Send Email
Gift on Social Media

Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.

Photo: The Canadian Press / Peter Dejong

World leaders listen to speeches at the COP27 conference in Sharm el-Sheik, Egypt, on Nov 7.

Most Popular This Week

A man wearing a headset microphone sits on a stage. He is speaking and gesturing with his hands. The background is dark blue.
News

Ottawa will invest up to $1.6B in Cohere as firm’s valuation hits $35.7B

By Catherine McIntyre
Prime Minister Mark Carney and the rest of the Liberal front bench stand applauding Finance Minister François-Philippe Champagne in the House of Commons. Champagne is in the middle of the frame, with his hands on a desk lectern.
Special Report

What business wants from the 2026 federal budget

By David Reevely, Joanna Smith, Anita Balakrishnan, Claire Brownell, Chaimae Chouiekh, Murad Hemmadi and Meghan Potkins
The Bay Street Financial District is shown with the Canadian flag in Toronto on Friday, August 5, 2022. THE CANADIAN PRESS/Nathan Denette
News

An obscure data standard is the latest open banking holdup—and an unlikely political hot potato

By Claire Brownell
A shot across an expanse of low forest of a rocket launching into blue skies.
News

Canada faces a satellite-launch crunch as SpaceX retires its workhorse rocket

By David Reevely

In-depth, agenda-setting reporting

Great journalism delivered straight to your inbox.

A man wearing a dark suit jacket, blue button-down shirt and spotted brown-and-blue tie stands in front of a black and blue background, gesturing and speaking into a microphone.
Commentary

Carmichael: Canada’s Nobel-winning economist thinks Carney is on the right track

By Kevin Carmichael

Briefing

Canadian investors can’t let foreign capital crowd them out of infrastructure deals, Weston says

By Anita Balakrishnan   |   Oct 30, 2026

Cohere outlines plans to spend $4B on R&D and AI infrastructure in Canada

By Catherine McIntyre   |   Oct 30, 2026

Binance starts recovering frozen assets following US$6.3B hack

By Claire Brownell   |   Oct 30, 2026

Best business newsletter in Canada

Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.

Exclusive events

See the bigger picture with reporters and industry experts in subscriber-exclusive events.

Membership in The Logic Council

Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.

Recent Popular Stories

News

RBC’s AI chief sounds the alarm over AI agents

By Chaimae Chouiekh   |   Oct 22, 2026
Analysis

Why a midterm sweep for the Democrats won’t end Canada’s trade nightmare

By Joanna Smith   |   Oct 29, 2026
News

Bank of Canada raises key interest rate amid soaring energy costs

By Kevin Carmichael   |   Oct 28, 2026
Bank of Canada Governor Tiff Macklem in a suit, speaking and gesturing with his right hand.
News

Brookfield’s new CEO flexes the firm’s soft power with its $50B Canadian bet

By Anita Balakrishnan   |   Oct 21, 2026
News

An obscure data standard is the latest open banking holdup—and an unlikely political hot potato

By Claire Brownell   |   Oct 27, 2026
The Bay Street Financial District is shown with the Canadian flag in Toronto on Friday, August 5, 2022. THE CANADIAN PRESS/Nathan Denette
Special Report

What business wants from the 2026 federal budget

By David Reevely, Joanna Smith, Anita Balakrishnan, Claire Brownell, Chaimae Chouiekh, Murad Hemmadi and Meghan Potkins   |   Oct 28, 2026
Prime Minister Mark Carney and the rest of the Liberal front bench stand applauding Finance Minister François-Philippe Champagne in the House of Commons. Champagne is in the middle of the frame, with his hands on a desk lectern.

Canada's most influential executives and policymakers are reading The Logic

  • CPP Investments
  • Sun Life Financial
  • C100
  • Amazon
  • Telus
  • Mastercard
  • bdc
  • Shopify
  • Rogers
  • RBC
  • General Motors
  • MaRS
  • Government of Canada
  • Uber
  • Loblaw Companies Limited
logic-logo

Canada's Business and Tech Newsroom

100% human-crafted journalism

Newsroom

  • News Tips
  • AI Policy
  • Editorial Disclosures
  • Story Pitches

Company

  • About Us
  • Terms of Service
  • Privacy Statement
  • Corporate Information

Contact

  • Contact Us
  • Advertise
  • FAQs
  • Work at The Logic

© 2026 The Logic Inc. All Rights Reserved.

Trusted by leaders

Error

Account creation failed.

Please email us at [email protected].

Create Account

[wppb-register form_name=”cozmo-registration-form-for-modal”]

I do have an account
Login
or

[wppb-login]

I don’t have an account