The United Nations Climate Change Conference (COP28) concluded on December 12th, 2023, marking a significant milestone in the global fight against climate change. The negotiators at the conference made historic decisions and commitments that will help pave the way towards a sustainable future. These decisions are expected to bring about positive changes that will substantially impact the world.
The conference ended with a groundbreaking agreement, signalling the "beginning of the end" of the fossil fuel era. Negotiators from almost 200 Parties gathered in Dubai under the theme of a swift, just, and equitable transition. They united for the world's first 'global stocktake' - a comprehensive evaluation called the UAE Consensus. This evaluation set the stage for intensified climate action before the end of the decade, with a steadfast commitment to keep the global temperature limit of 1.5°C within reach.
Shifting from Fossil Fuels to Clean Energy
The UAE Consensus issues a resounding call for a worldwide departure from fossil fuels, setting a target of achieving net-zero carbon emissions by 2050. To expedite this transition, it mandates a tripling of renewable energy capacity and a doubling of energy efficiency by 2030.
Crucially, the Consensus emphasises that this shift must be just and equitable, involving every nation in collective responsibility. However, a notable gap in the outcome is the lack of attention to the financial challenges associated with this transition and the limitations of carbon capture technology.
Moreover, the COP resolution, while endorsing the move towards cleaner energy, introduces the concept of "transitional fuels," such as natural gas. It's essential to underscore that these transitional fuels should not serve as excuses to impede the rapid progress of the clean energy transition.
The oil and gas industry, in particular, is urged to address both the production and use of fuels to align with climate goals. This comprehensive approach is crucial for meeting the ambitious targets outlined in the UAE Consensus and ensuring a sustainable future.
Loss and Damage Fund
The Loss and Damage Fund, operationalised on the inaugural day of the Dubai summit, stands as a critical initiative to aid climate-vulnerable nations in addressing climate impacts beyond adaptation. Despite commendable efforts that saw approximately $700 million (over £550 million) contributed to the fund, this amount pales in comparison to the potential damages these nations may face.
To further support vulnerable countries, the UN's Office of Disaster Risk Reduction and the Office for Project Services are set to host the Santiago Network on Loss and Damage. This network aims to provide essential technical assistance to developing nations grappling with the aftermath of climate-related impacts.
However, a notable gap in the summit's outcomes is the insufficient recognition of loss and damage as the third pillar of climate action. This oversight is particularly concerning for communities already bearing the brunt of climate vulnerabilities.
The Framework for Global Goal on Adaptation Established
In 2015, the Paris Agreement established the ambition of enhancing adaptive capacity to climate change. However, at that time, there was no specific framework to comprehensively understand the Global Goal of Adaptation. It took two years of discussions for negotiators to define global time-bound targets for various themes and sectors.
Regrettably, these targets lacked quantification, and notably, they did not incorporate essential financial support for developing countries. The framework of the Global Goal on Adaptation briefly alludes to the widening financial gap.
However, the Global Stocktake outcome explicitly acknowledged the imperative for a substantial scaling up of financial support. This recognition goes beyond the current commitment, emphasizing the need to double adaptation finance for effective climate action.
Finance Goals Emerge
COP28 extensively deliberated on climate finance matters, anticipating the upcoming COP29, where a new climate finance goal will be established. This new goal, known as the New Collective Qualitative Goal (NCQG), aims to replace the current commitment of developed countries, set at $100 billion (over £78 billion) annually for developing nations. The NCQG is designed to consider developing countries' specific needs and priorities, estimated at a substantial $5.8 trillion to $5.9 trillion (between £4.5 trillion and £4.6 trillion) until 2030.
Acknowledging the urgency to align all financial flows with the Paris Agreement, the conference emphasised the necessity to reform the financial architecture. A notable achievement was the pledge of $3.5 billion (over £2.7 billion) to the Green Climate Fund, boosting the total to $12.8 billion (approximately £10 billion).
The challenge ahead lies in transforming these pledges into tangible financial disbursements to developing nations. This involves ensuring high-quality investments that address their needs while leveraging private finance for a more impactful and sustainable outcome.
Strengthening National Climate Commitments
In preparation for COP30 in 2025, countries are tasked with revising their Nationally Determined Contributions (NDCs) to set more ambitious emission reduction goals. These updated NDCs must encompass enhanced targets for emission reduction by 2030 and introduce novel objectives for 2035.
These revised NDCs need to go beyond mere emission reduction goals. They should encompass comprehensive strategies for adapting to climate change, ensuring a just transition to a new economy.
Additionally, the plans must account for potential losses and damages while reflecting advancements in clean energy, nature protection, and transportation. This holistic approach aims to align the global community with the imperative goal of limiting global warming and fostering sustainability across various sectors.
Food for All
During COP28, 159 countries signed the UAE Declaration on Sustainable Agriculture, Resilient Food Systems, and Climate Action, committing to integrate food and food systems into their NDCs by 2025. The Alliance of Champions for Food Systems Transformation (ACF) was launched, and the UN's Food and Agriculture Organization (FAO) released a roadmap to eliminate hunger and stop climate change.
The negotiations also emphasised the importance of "resilient food systems" and having climate-resilient food and agricultural production and supply. These new references to food marked a significant breakthrough in the nexus between food, agriculture, and climate.
Cities Become Partners in Climate Action
During COP28, cities played a significant role in climate action. The "Local Climate Action Summit" brought together over 500 leaders to discuss the role of cities in climate action. 71 countries joined the Coalition for High Ambition Multi-level Partnerships (CHAMP) initiative, pledging to incorporate robust urban climate actions.
The final agreement recognises the significance of cities as crucial climate battlegrounds and partners for action. The agreement includes enhanced language on "multilevel" action, as well as new language that focuses on reducing health impacts in vulnerable communities and promoting zero-emission vehicles.
Methane Emissions to be Curbed
During COP28, the leaders of various countries, businesses, and organisations pledged to reduce the amount of methane pollution – a greenhouse gas 20 times stronger than carbon dioxide. Funding of over $1 billion (equivalent to over £700 million) was announced to support projects that reduce methane in the oil and gas, waste, and agriculture industries.
The Global Methane Pledge also gained five more countries, bringing the total to 155, to reduce methane emissions by 30% from 2020 levels by 2030. The United States introduced new regulations on methane during the talks. China also pledged to include methane in its next NDC. The Global Stocktake outcome encourages all countries to reduce non-CO2 emissions, including methane. It also urges countries to include all greenhouse gases in their next NDCs.
Wrapping Up the COP28 Outcomes
The COP28 outcomes not only define the trajectory for upcoming COP events but also establish a critical framework for addressing the climate crisis. With the introduction of new goals and targets, the years ahead become pivotal in our collective efforts against climate change.
The inaugural global stocktake emerged as a beacon, shedding light on current initiatives, and charting a course toward a future dominated by renewable energy and sustainable practices. This momentum inspired participating parties to commit to ambitious global reduction targets, aiming to align with the imperative of limiting the rise in global temperature to 1.5°C.
