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Bristol Mayor Marvin Rees will travel to Egypt next week to attend a weather convention and will seek to raise money from investors. He told COP27 that he would constitute not only Bristol, but also other UK cities and “cities around the world” for safe investments in weather projects. .
Every year, the United Nations organizes a global climate summit, called the Conference of the Parties (COP), for countries around the world to work together to combat climate change. Last year, COP26 was held in Glasgow, and this year the summit will be held in Sharm El Sheikh. Rees said the annual climate summit is about finding investors to help pay for climate projects, such as painting district heating networks or subway systems, at a cabinet meeting on Tuesday (Nov. 1).
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He said: “For cities around the world right now, especially in the context of COP26, the COP is the position where cities will come together with the investment they want to embark on this decarbonisation journey. There is no investment in decarbonization, in the renovation of housing, the installation of new heating systems, the installation of heating networks, investment in public transport.
“All of this requires investment. Not everything is in the public purse, it is also in personal finances. Be at the forefront of global decarbonization.
“Most globals live in cities, have a density supply, which gives greater efficiency, and can move faster than national governments. The purpose has been to align finances, position and technology. But it is monetary innovation that will enable the deployment of technology.
This year’s COP27 begins on Sunday, November 6 and, once again, world leaders will try to agree on global policies to reduce greenhouse fuel emissions. deciding to make a stopover in Egypt, after criticizing the new government for not prioritizing action on climate change.
But Bristol and other cities rely on government funding, according to the mayor, to pay for the gigantic amount of public works needed to reduce carbon emissions to net zero. Bristol and other UK cities are looking to increase investment in carbon-reduction projects, through a newly formed organisation called the Cities Commission for Climate Investment, or 3Ci for short.
Mr Rees added: “I myself will be going to the COP, as a component of 3Ci, with Susan Aitken, the leader from Glasgow who hosted the COP last year. Our genuine motivation at the COP is to start connecting the approximately £300 billion decarbonisation opportunities we have known in the UK’s largest cities with the investment that will be in COPs.
“Possibly it wouldn’t happen if we have the government’s spending and money, and possibly it wouldn’t be done if we have the existing government to champion our cause. We have to go through there and make the case ourselves.
“The case we are protecting at the COP is not just for Bristol, it is for UK cities. But there’s also a very strong foreign angle to this, in the sense that we advocate for cities around the world. One of the great demanding situations is how to obtain the necessary financing to cover and shape the immediate urbanization that takes position in the Global South.
“If this is chaotic, not only will worsening the climate replace demanding situations caused by chaotic, unplanned and inefficient urbanization, but if urbanization in the south is not helped in an orderly manner, we will raise the climate challenge to the already increasing burden of climate-related migration.
“We envision 150 million climate-motivated immigrants by mid-century, unless we pull through. So the case we’re making is also about British peoples and southern peoples, and how we’re making certain foreign finance start painting the world. “is.
Last year’s COP26 saw an agreement through world leaders to decrease the use of coal, a fuel that emits a massive amount of greenhouse gases and contributes to global warming, but that agreement was watered down at the last minute. COP21 held in Paris in 2015 and saw a historic agreement to restrict global warming to 1. 5 degrees. But last week, a new UN report revealed that global warming is lately on track to warm to 2. 8 degrees this century.