We Mean Business Coalition statement on the outcomes of COP27

The We Mean Business Coalition expresses disappointment that COP27 failed to include a proposal to phase down all fossil fuels, despite recognizing the 1.5°C limit. While the Coalition welcomes progress on financial support for vulnerable communities, the recognition of a just transition to renewable energy, and the role of business in the 2030 Work Program, it warns that current national commitments are insufficient to drive the necessary emissions reductions by 2030.

• COP27 achieved significant progress in establishing financial support for communities most affected by climate change, demonstrating the possibility of international cooperation on difficult issues.
• The Coalition views the absence of a formal agreement to phase down all fossil fuels—a proposal led by India and other nations—as a major failure and a barrier to achieving the 1.5°C temperature goal.
• The agreement's recognition of a just transition to renewable energy and the need for multilateral development bank reforms are seen as critical for supporting companies switching to clean energy and redirecting finance to developing countries.
• The inclusion of business as active participants in the 2030 Work Program is expected to facilitate the sharing of decarbonization experience and accelerate emissions reductions in the real economy.

APA

Whittaker, M. (2022). We Mean Business Coalition statement on the outcomes of COP27. We Mean Business Coalition. https://www.wemeanbusinesscoalition.org/blog/we-mean-business-coalition-statement-on-the-outcomes-of-cop27/

Chicago

Whittaker, Mary. We Mean Business Coalition statement on the outcomes of COP27. We Mean Business Coalition, 2022. https://www.wemeanbusinesscoalition.org/blog/we-mean-business-coalition-statement-on-the-outcomes-of-cop27/.

Wikipedia

{{cite press release |last1=Whittaker |first1=Mary |title=We Mean Business Coalition statement on the outcomes of COP27 |publisher=We Mean Business Coalition |date=20 November 2022 |url=https://www.wemeanbusinesscoalition.org/blog/we-mean-business-coalition-statement-on-the-outcomes-of-cop27/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{whittaker2022mean, author = {Whittaker, Mary}, title = {{We Mean Business Coalition statement on the outcomes of COP27}}, publisher = {We Mean Business Coalition}, year = {2022}, month = nov, url = {https://www.wemeanbusinesscoalition.org/blog/we-mean-business-coalition-statement-on-the-outcomes-of-cop27/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }