COP27: Taking stock of progress - To what extent have the Mo Ibrahim

The cover decision document emphasises on the need to enhance the share of renewable energy in the energy mix of countries and encourages the phase down of unabated coal power and the phase out and rationalisation of inefficient fossil fuel subsidies. [...] • The inclusion of the energy access issue in the cover document has been reported as a recognition of the contention over African gas. [...] Special needs and special circumstances of Africa - while this was an agenda item in the draft cover document, indicating that ongoing negotiations in the matter were taking place, the lack of mention of Africa’s special needs and circumstances in the final cover document is a disappointing result for the continent. [...] Several calls have been made to bring the meeting back to its original mission, and organise the agenda so that the first week is dedicated to progress reports on concrete achievements from governments and the private sector and the second week could focus on identifying where further and faster action was needed. [...] • The proposed debt relief and loan blueprint targets the IMF and asks for the following: • the establishment of a climate mitigation trust that would be kickstarted by the release of $650 million from the IMF through the special drawing rights (SDRs) mechanism – it is estimated that this could stimulate private investment by an additional $2 trillion-; • low-interest, long-term loans for adaptati.