Issue link: https://maltatoday.uberflip.com/i/1483500
maltatoday | SUNDAY • 6 NOVEMBER 2022 18 COMMERCIAL Road to COP27: funding climate change mitigation ORLANDA GRECH AND SARAH BULTEEL IN previous articles within this four-part series on COP27 we discussed climate change ad- aptation, the creation of carbon markets, and sustainable agri- culture. This fourth and final article in this series linked to COP27 discusses the financing of climate adaptation and cli- mate mitigation action. Finance remains a key theme for discussion, given its impor- tance in climate change action. Originally, way back in COP15 it was agreed that developed countries pledge $100 billion of climate finance, provided on a yearly basis by 2020. However, the 2021 Glasgow Climate Pact noted that this target was not reached and pushed it forward to 2023. Discussions were held for the provision of funds and compensation for loss and dam- age arising out of climate change. During the Bonn CC conference that took place in June 2021, it was noted that major political decisions for the provision of finance for loss and damage will need to be taken during COP27. Increased transparency and eas- ier access for developing coun- tries to obtain such finance will be key. The Glasgow Climate Pact also urges developed countries to "at least double their collective pro- vision of climate finance for ad- aptation to developing country parties from 2019 levels by 2025, in the context of achieving a bal- ance between mitigation and ad- aptation". This necessitates for increased finance for countries to have funds available in the eventuality that they are faced by the climate change effects, but that could also potentially lead to damage in the country's infrastructure, habitats, and economy. Such effects could in- clude rising sea level, heatwaves, and frequent droughts. Most de- veloping countries, do not have the opportunity and resources to be able to keep these financ- es readily available for mitiga- tion and adaptation purposes even though they are some of the hardest hit. Therefore, it is a must that developed countries keep to their commitments and pledges to provide finance to these developing countries. Ul- timately, it is crucial for affected communities to endure and re- cover from such impacts. Being classified amongst the Non-Annex I Parties, Malta is recognized by the Convention as being especially vulnerable to the adverse impacts of CC, and/ or to the potential economic im- pacts of climate change response measures. Malta's 'Health and Climate Change' country pro- file for 2021 highlights that Malta could potentially face a number of health risks such as 'heat-related illnesses', 'respira- tory illnesses' and could have an effect on health systems. In fact, it is estimated that the project- ed change in annual premature deaths due to long-term expo- sure to heat in Malta would be 113 deaths in 2050, when com- pared to 50 deaths in 2010. Oth- er risks could include food safety and security problems leading to malnutrition and foodborne dis- eases. Malta also committed to pro- vide support to developing countries for mitigation and adaptation actions as well as ca- pacity building albeit on a much smaller scale. The island must also work on its own climate change mitigation and adapta- tion. National climate commit- ments are essential in setting goals to reduce national emis- sions and adaptation against climate change. During COP26, when new National Determined Contributions (NDCs) were re- ported, it was highlighted that reporting will now be more con- sistent and transparent across countries through an enhanced Transparency Framework, with common reporting require- ments for the National Invento- ry Submission and the Biennial Transparency Report as from December 2024. For any response measure to work, there needs to be na- tion-wide awareness on climate change. Such awareness would empower all members of society to participate in climate action through a diverse number of ways. Education and awareness building across all levels of soci- ety is necessary to set the wheels in motion – ranging from formal to informal methods - by both public e private entities. Looking ahead, it is impera- tive that science-based reports are taken into consideration and are reflected in the deci- sions made by policymakers and governments. As echoed in the latest CC conference in Bonn, "Governments need to more ur- gently act on the stark warnings we have been hearing". Global stock-takes will mark progress made in areas such as mitiga- tion, adaptation, finance flows, loss and damage, and response measures, along with the means of implementation and support. The results obtained will then enable countries to update and enhance their climate actions and pursue recommendations before submission of their next NDCs, while serving as an up- date for all signatory parties un- til COP27. While businesses and govern- ments are already taking action, further collaboration is a must for climate-related targets to be achieved. We may see further decisions of a mandatory nature coming into place, but in the meantime, pro-activeness re- mains key – keeping abreast of themes and formal negotiations discussed at this last COP can serve as a spring-board to fur- ther action. Creating environ- mentally conscious minds with a desire to contribute towards the achievement of climate-related targets will become second na- ture. COP27, happening in Sharm el-Sheikh, Egypt from 6th to 18th of November 2022, will be centered around climate change themes such as Mitigation, Ad- aptation, Finance and Collabo- ration. COP27 recognizes that 'just transition' remains a pri- ority for developing countries worldwide, and that "we need to replicate and rapidly upscale all other climate-friendly solutions towards implementation in de- veloping countries." EARLIER this year, STMicroe- lectronics (ST) was named a Top 100 Global InnovatorTM 2022 by Clarivate – a global leader in providing trusted insights and analytics to expedite the pace of innovation. Based on data gathered by Clarivate, this annual list distin- guishes companies that sit at the very top of the global innovation landscape, delivering consistent innovation excellence and creat- ing new economic value. This is the fourth time that STMicroe- lectronics has been recognized (2013, 2014, 2015 and 2022) for its innovation in creating tech- nologies and products that sup- port the sustainable digital trans- formation of all industries. Operating in Malta since 1981, ST's operations consist of a world-class advanced manufac- turing plant, the largest of its kind in Europe, which assembles and tests over 1,200 products serv- ing clients that are leading global technological innovation in auto- motive and consumer products. 2.7 million chips exit the ST Mal- ta every day to go to customers across the globe, including Tier 1 suppliers for the world's lead- ing automotive brands, a world leader in computer vision for advanced driver assistance sys- tems (ADAS), as well as leading, global smartphone and consum- er electronics brands. With 1,800 employees at the Kirkop site, STMicroelectronics (ST) is one of the largest private employers in Malta and is leading advanced manufacturing with automation and industry 4.0 methodologies. The focus of ST's innovation stems from three long-term trends that are transforming in- dustries: smart mobility, the shift from traditional cars to smarter mobility solutions; the need for much more efficient power and energy management across all de- vices and systems; and the large- scale deployment of the Internet of Things (IoT) and connectivity. Above all, ST prides itself on cre- ating innovative technologies in a sustainable way – sustainability has been an integral part of ST's business strategy for the past 25 years and the company aims to become carbon neutral by 2027, the earliest date anticipated for any semiconductor company globally. STMicroelectronics is once again recognised among the top 100 global innovators MCAST hosts final Multiplier Event Conference of CoachEd6 THE Malta College for Arts, Science, and Technology (MCAST) hosted the final multiplier event conference of the 'CoachEd6 - Towards Quality Coaching Education' project. CoachEd6 is a project led by MCAST together with, Mugla SItki Kocman Univer- sity (Turkey), the University of Southern Denmark, and Rey- kjavik University (Iceland). In the absence of coaching edu- cation at higher educational institutions, the project's main objective was to foster a Level 6 Award in sports coaching. In the first phase of the pro- ject, the four educational insti- tutions teamed up and wrote a number of study units for the award. The International Council of Coaching Excel- lence (ICCE), assured quality across the development, deliv- ery, and assessment of all units delivered in the Award. During the second phase of the project, the academic award was launched and simul- taneously delivered in the same way to students in all four edu- cational institutions. The Final Multiplier Event hosted at the College provid- ed the perfect platform where both students and lectur- ers shared their learning and teaching experiences. Besides hosting various stake- holders from the field of sports coaching, the conference also welcomed international ex- perts together with the stu- dents who were part of the Award in Sports Coaching be- tween 2021 and 2022. A total of 20 learners were awarded during the confer- ence.