COP28, the 28th session of the Conference of the Parties to the UN Framework Convention on Climate Change, was held in Dubai from 30 November to 13 December 2023. It was the first COP to take place in the Middle East, a region highly vulnerable to the impacts of the climate crisis.
The main objective of the COP28 was to take stock of the progress made by the parties on the implementation of the Paris Agreement, the landmark climate treaty adopted in 2015, and to chart a course of action to dramatically reduce greenhouse gas emissions and protect lives and livelihoods.
Results and Key Findings of COP28
The COP28 achieved some historic outcomes, such as:
Loss and Damage
One of the first outcomes of COP28 was the establishment of a loss and damage fund. It will provide financial support to the developing countries that are already suffering from the effects of climate change, such as extreme weather events, sea level rise, and biodiversity loss. The fund was agreed on the first day of the summit, after decades of demand by the global south. However, the $700 million pledged by the wealthy nations falls far short of the estimated annual cost of the damage, which ranges from $100 billion to $580 billion.
Fossil Fuel Phase-Out & Increasem*nt of Renewable Energy Capacity
A historic result of COP28 was the adoption of a fossil fuel phase-out agreement, which commits the parties to transition away from fossil fuels in energy systems, in a just, orderly and equitable manner, so as to achieve net-zero emissions by 2050. This was the first time that the COP explicitly addressed the need to end the use of coal, oil, and gas, the main drivers of the climate crisis. The agreement also calls for a tripling of renewable energy capacity globally by 2030, and the acceleration of technologies such as carbon capture and storage.
Role of the Private Sector
The launch of a $30 billion private market climate capital, which will mobilize private sector investment in low-carbon and climate-resilient projects, especially in emerging and developing economies. The capital will leverage the expertise and resources of the World Bank, the International Finance Corporation, and the World Economic Forum, among others.
Challenges & Criticism
There was controversy over the remarks of the COP28 president, Sultan Al Jaber, who is also the CEO of the UAE’s state-owned oil company, Adnoc. In a video call last month, he said that there was “no science” indicating that a phase-out of fossil fuels was needed to limit global warming to 1.5°C, the goal of the Paris Agreement. He later clarified his views and said that a phase-out was “inevitable and essential”.
Another challenge was the lack of ambition and urgency shown by some of the major emitters, such as China, India, and Russia. They did not submit new or updated nationally determined contributions (NDCs), the voluntary pledges to reduce emissions under the Paris Agreement. The current NDCs are not enough to close the gap between the projected emissions and the level required to keep the global temperature rise below 1.5°C.
Additionally, a lot of dissatisfaction and frustration was expressed by many civil society groups, indigenous peoples, youth activists, and scientists, who staged protests and demonstrations throughout the summit, demanding more action and justice from the leaders. They also denounced the influence of the fossil fuel industry and the lack of participation and representation of the most affected and marginalized communities.
Summary
- Establishment of a loss and damage fund for the most vulnerable countries. This was agreed on during the first days of the COP.
- Agreements on mitigation measures now include a fossil fuel phase out (instead of only a phase down) to achieve net-zero emissions by 2050.
- The private sector will be supported by the launch of $30 billion private market climate capital.
- A lot of challenges and criticism occured during this year’s COP in Dubai, many of them facing towards its residency in UAE, a mayor oil exporting country.
If you and your company want to make an impact and catch up on climate action and disclosure, then you could get in contact with one our experts at DFGE via mail () or phone (+49 819 29973320). Together with us you will take the next step with a carbon footprint calculation, the conceptualization of an impactful climate strategy or guidance on CSR reportings and ratings like CDP and EcoVadis.
Sources:
https://news.un.org/en/events/cop28
https://www.weforum.org/agenda/2023/11/cop28-summary-key-talking-points/
https://news.sky.com/story/cop28-live-updates-nations-strike-landmark-deal-to-transition-away-from-fossil-fuels-13029276
https://www.theguardian.com/environment/2023/dec/07/cop28-first-half-un-climate-conference-dubai
Autor:Lukas Becker
http://www.dfge.de
Lukas has been part of the DFGE team since 2022. He completed his Master's degree in Environmental Engineering at the Technical University of Munich and his Master's thesis focused on the carbon and water footprints of a potential avocado industry in Central Europe. As part of the DFGE project management team, he assists companies in calculating greenhouse gas balances (carbon footprints). He likes to spend his free time with friends, cooking or in the mountains.
FAQs
A historic result of COP28 was the adoption of a fossil fuel phase-out agreement, which commits the parties to transition away from fossil fuels in energy systems, in a just, orderly and equitable manner, so as to achieve net-zero emissions by 2050.
What were the key findings of COP28? ›
COP 28 resulted in unprecedented recognition and momentum for linking efforts to address the climate and biodiversity crises. Alongside pollution, these make up the triple planetary crisis – the three, main interlinked environmental issues facing humanity.
What are COP28 outcomes? ›
The outcome further calls to triple the production of renewable energies and double energy efficiency by 2030 and accelerate efforts towards the phase-down of unabated coal power and phase out of inefficient fossil fuel subsidies (see full text attached).
What is the COP28 summary document? ›
This summary document provides an overview of the key outcomes of global climate action across the four pillars set by the COP 28 Presidency: i) fast-tracking a just, orderly, and equitable energy transition; ii) fixing climate finance; iii) focusing on people, lives and livelihoods; and iv) underpinning everything ...
What was agreed to at COP28? ›
The headline outcome of the conference was an agreement to “transition away from fossil fuels” as part of the global stocktake (PDF), the first COP text to mention a global shift away from using fossil fuels.
What are the lessons from COP28? ›
COP 28 was able to build larger consensus on key issues like mobilising finance for climate action, boosting renewable energy and energy efficiency, transforming food and agriculture, building climate adaptation and resilience, creating loss and damage fund, and acknowledging climate and health linkages.
What are the basics of COP28? ›
The main objective of the COP28 was to take stock of the progress made by the parties on the implementation of the Paris Agreement, the landmark climate treaty adopted in 2015, and to chart a course of action to dramatically reduce greenhouse gas emissions and protect lives and livelihoods.
What does COP28 stand for? ›
The United Nations Climate Change Conferences are the world's highest decision-making body on climate issues and one of the largest international meetings in the world. The host of the 28th United Nations Climate Change Conference, or Conference of the Parties (COP28) will be the UAE (United Arab Emirates).
What is the adaptation goal of COP28? ›
The Global Goal on Adaptation now includes a specific target to accelerate the use of ecosystem-based adaptation by 2030. COP28 also shed light on the challenges faced by mountain ecosystems and proposed concrete steps for intervention in 2024 under the Nairobi Work Programme.
What were 3 successful outcomes of COP26? ›
COP26 in Glasgow marked a step forward in global efforts to address climate change, including a material increase in ambitions to reduce emissions across the world, finalisation of rules on reporting emissions and international carbon trading, and the launch of a range of new initiatives and sector deals.
COP 28 is an opportunity to identify global solutions for limiting global temperature rise to 1.5 degrees, inform countries' preparations for revised and more ambitious Nationally Determined Contributions (national climate plans) due by 2025, accelerate the green transition that is already happening and ultimately ...
What is the COP28 event? ›
The 2023 UN Climate Change Conference will convene from 30 November to 12 December 2023 in Dubai, United Arab Emirates (UAE). It will comprise: the 28th meeting of the Conference of the Parties (COP 28); the fifth meeting of the COP serving as the Meeting of the Parties to the Paris Agreement (CMA 5);
What is loss and damage fund COP28? ›
The purpose of the Fund is to assist developing countries that are particularly vulnerable to the adverse effects of climate change in responding to economic and non-economic loss and damage associated with the adverse effects of climate change, including extreme weather events and slow onset events.
Who are COP28 negotiators? ›
These incredible individuals include Ana Nicolle Javier (Dominican Republic), Hamira Kobusingye (Uganda), Filimone Tuivanualevu (Fiji), Bruno Sirote (Argentina), Farhana Shukor (Malaysia), and Malek Romdhane (Tunisia). Since COP 26 in 2021 in Glasgow, fellows from the first cohort have attended the negotiations.
What is COP28 PDF? ›
COP28 UAE will be a milestone moment when the world will take stock of its progress on the Paris Agreement. The first Global Stock Take (GST), will provide a comprehensive assessment of progress since adopting the Paris Agreement.
Who is organising COP28? ›
The Government of the United Arab Emirates (UAE) will host the 28th Conference of the Parties of the UNFCCC (COP 28), with a view to building on previous successes and paving the way for future ambition to effectively tackle the global challenge of climate change.
What is the COP28 critical analysis? ›
The final COP28 agreement highlights the widespread understanding of cities as critical climate change battlegrounds and partners for action - a fitting recognition since 70 per cent of carbon emissions originate in urban areas.
What were the outcomes of the COP28 for Africa? ›
The COP28 conference had both positive and negative outcomes for Africa. On the positive side, progress was made on crucial climate change issues such as loss and damage, climate finance, adaptation, food, and energy.
What is the purpose of the Green climate Fund (GCF) in the context of COP28? ›
GCF accelerates climate action to green, resilient, and sustainable pathways through a country-owned partnership approach, use of flexible financing solutions, and climate investment expertise.
