done and enters ‘ implementation phase ’ according to the discussions from the stakeholders on COP27 . Climate change experts have already warned that should temperatures exceed the 1.5 degree Celsius for a prolonged period , the ecosystem will become severely damaged triggering irreversible climate and ecosystem changes . Scientists say we are near the 1.2-degree mark .
The next COP28 will delve into areas where countries are falling short on emission reductions and what they can do to change that . The next conference will therefore focus on ‘ global stocktake ’ which takes stock of government actions and assesses collective progress to hold countries accountable to their commitments .
The UN commended countries for ‘ delivering on decisions that reaffirmed their commitments to limit the temperature rise of 1.5 degrees Celsius above pre-industrial levels , cut greenhouse gas emissions and adapt to the inevitable impacts of climate change while boosting finance , technological support and capacity building needs of developing countries .’
The review of the existing policies will be instrumental in the management of the climate change issues given that most countries are operating on long term energy and infrastructure agreements that were signed years ago and are based on oil , coal and gas as opposed to renewable energies . It is an opportune moment for the world to increase its investments in renewables particularly to power developing countries and deal with the recurrent energy crises
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In most developed countries , the need for clear ESG reporting is already happening . It is in Africa where we need more than business alignment and education to help the population understand that climate change is everyone ’ s problem . and frequent loadshedding . Wind , solar and hydro energy are readily available in Africa , but it is the financial and infrastructural investment that lacks most times .
The Kenyan government now generates about 87 % of electricity from geothermal , wind , water and solar sources , putting the country on the right path towards reducing its greenhouse gas emissions . Kenya hopes to transition fully to renewable energy sources by 2028 . Currently , the country has four photovoltaic plants with a solar capacity of 170MW in Garissa , Selenkei , Cedate and Malindi Solar Plants and 435.5MW from wind Plants in Lake Turkana , Ngong and Kipeto Wind Plants . Most of the electricity generates however comes from hydro ( 838MW ) and geothermal ( 949.13MW ) sources accounting for 65.62 % of the total output while wind and solar account for 19 %. These figures put Kenya in the lead in Africa and seventh in world according to the Energy and Petroleum Regulatory Authority ( EPRA ) supplying power to over 9 million electric consumers .
In many Sub-Saharan countries , there is already an influx of solar powered home solutions that have heavily boosted access to power in rural and low-income areas where there would ordinarily not be a power line or a source of electricity . The socio-economic impact of these affordable solar packages have boosted economic activity in these areas allowing small scale retailers to work for longer hours and even improved safety in shopping centers and market centers which would normally be dead by sunset .
The quality of life for school going children has also been improved as they are now able to read under a light while they previously used candlelight to study and do their homework . Needless to say , these simple yet effective innovations have also led to increased access to internet connectivity and work and educational opportunities for these communities . These are real tangible sustainability proof points that point to the need for increased funding of energy solutions that will allow reduced effects of climate change in developing countries .
The big question for marketing and communications experts then is around why they need to pay close attention to these discussions and changes . Kantar recently conducted a survey to find out the impact of COP27 on businesses and brands in the UK . The findings point to the fact that globally only 2 out of 3 people have heard about the COP27 , while only 22 % globally believe the outcomes of COP will lead to any significant change . 86 % of those sampled however agree that there is urgent need to climate action pointing to the fact that there is interest among those who understand the issues and the impact .
The Kantar findings also showed that 64 % of the public holds business accountable for helping to tackle climate change while 77 % say that businesses only have ambiguous plans to tackle climate change , or they are not enthusiastic enough towards real change . Only 12 % agree that most businesses are taking strong action to tackle climate change while 38 % of respondents said businesses are worsening the scenario .
The Endelman Trust Barometer 2022 does not differ so much from the findings by Kantar . Respondents surveyed said they believe that governments are only 44 % capable of solving societal problems and businesses should take a stronger role in taking leadership on societal issues and executing plans and strategies that have societal impact . The respondents trust business more than they trust government for solutions . On the flip side , both the government and institutions are not doing much to address the climate issues with 69 % saying businesses are failing to address the existing climate challenges while NGO ’ s trended at 65 %, governments at 68 % and the media at 66 %. The cycle of distrust respondents say is driven by governments and media who feed division and disinformation while NGOs and Businesses pressure each other to take the lead on climate issues .
Societal fear about climate issues also rose 3 % from the last survey with 75 % of respondents affirming that they worry about climate change issues . 88 % of institutional investors now subject ESG to the same scrutiny as operational and financial considerations , while 58 % of customers buy or advocate for brands based on their values and beliefs . 52 % of the respondents believe businesses are not doing enough to address climate change issues while only 9 % said that businesses were overstepping . Overall people want more business leadership to get involved in the climate conversation , demonstrate tangible progress , focus on long-term thinking over short-term gain and provide trustworthy information .
The world has already shifted its thinking around sustainability but many businesses are yet to fully understand how to integrate ESG into their operations and how much of an impact it ’ ll have on bottom lines . Already young people are able to make purchasing and employment decisions based on their beliefs - environmental impact being one of the major drivers of these decisions .
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