@Green January/February 2024 | Page 4

04 • COP 28

04 • COP 28

@ green | January-February . 2024

Beginning of the end

Agreement signals fossil fuel era may be at tailend
stakeholders to engage in climate action ; in particular through the action plan on Action for Climate Empowerment and the Gender Action Plan .
STRENGTHENING COLLABORATION BETWEEN GOVERNMENTS AND KEY STAKEHOLDERS
In parallel with the formal negotiations , the Global Climate Action space at COP 28 provided a platform for governments , businesses and civil society to collaborate and showcase their real-world climate solutions .
Under the Marrakech Partnership for Global Climate Action , the High-Level Champions launched their implementation roadmap of 2030 Climate Solutions . These are solutions , with insights from a wide range of non-party stakeholders on effective measures that must be scaled up and replicated to halve global emissions , address adaptation gaps and increase resilience by 2030 .
The conference also saw several announcements to boost the resilience of food and public health systems and reduce emissions related to agriculture and methane .
LOOKING AHEAD
The ‘ enhanced transparency framework ’ negotiations at COP 28 laid the ground for a new era of implementing the Paris Agreement . UN Climate Change is developing transparency reporting and review tools for use by Parties , which were showcased and tested at COP 28 . The final versions of the reporting tools should be made available to Parties by June 2024 .
COP 28 also saw Parties agree to Azerbaijan as host of COP 29 on Nov 11-22 , 2024 , and Brazil as COP 30 host on Nov 10-21 , 2025 .
The next two years will be critical . At COP 29 , governments must establish a new climate finance goal , reflecting the scale and urgency of the climate challenge . At COP 30 , they must come prepared with new nationally determined contributions that are economy-wide , cover all greenhouse gases and are fully aligned with the 1.5 ° C temperature limit .
“ We must get on with putting the Paris Agreement fully to work ,” said Stiell . “ In early 2025 , countries must deliver new nationally determined contributions . Every single commitment – on finance , adaptation , and mitigation – must bring us in line with a 1.5-degree world .
“ My final message is to ordinary people everywhere raising their voices for change .
“ Every one of you is making a real difference . In the crucial coming years your voices and determination will be more important than ever . I urge you never to relent . We are still in this race . We will be with you every single step of the way .”
During his closing speech , COP 28 President Dr Sultan Al Jaber said : “ The world needed to find a new way . By following our North Star , we have found that path .
“ We have worked very hard to secure a better future for our people and our planet . We should be proud of our historic achievement .” - @ green

THE United Nations Climate Change Conference ( COP 28 ) closed with an agreement that signals the “ beginning of the end ” of the fossil fuel era by laying the ground for a swift , just and equitable transition , underpinned by deep emissions cuts and scaled-up finance .

In a demonstration of global solidarity , negotiators from nearly 200 parties came together in Dubai with a decision on the world ’ s first ‘ global stocktake ’ to ratchet up climate action before the end of the decade – with the overarching aim to keep the global temperature limit of 1.5 ° C within reach .
“ Whilst we didn ’ t turn the page on the fossil fuel era in Dubai , this outcome is the beginning of the end ,” said UN Climate Change Executive Secretary Simon Stiell in his closing speech . “ Now all governments and businesses need to turn these pledges into real-economy outcomes , without delay .
The global stocktake is considered the central outcome of COP 28 – as it contains every element under negotiation and can now be used by countries to develop stronger climate action plans by 2025 .
The stocktake recognises the science that indicates global greenhouse gas emissions need to be cut 43 per cent by 2030 , compared to 2019 levels , to limit global warming to 1.5 ° C . But it notes parties are off track when meeting their Paris Agreement goals .
The stocktake calls on parties to take action towards achieving a global tripling of renewable energy capacity and doubling energy efficiency improvements by 2030 . The list also includes accelerating efforts towards the phase-down of unabated coal power , phasing out inefficient fossil fuel subsidies , and other measures that drive the transition away from fossil fuels in energy systems in a just , orderly and equitable manner , with developed countries continuing to take the lead .
In the short-term , parties are encouraged to come forward with ambitious ,
economy-wide emission reduction targets , covering all greenhouse gases , sectors and categories and aligned with the 1.5 ° C limit in their next round of climate action plans ( known as nationally determined contributions ) by 2025 .
HELPING COUNTRIES STRENGTHEN RESILIENCE TO THE EFFECTS OF CLIMATE CHANGE
The World Climate Action Summit began the two-week conference , which brought together 154 Heads of States and government . Parties reached a historic agreement on operationalising the loss and damage fund and funding arrangements – the first time a substantive decision was adopted on the first day of the conference . Commitments to the fund started coming in moments after the decision was gaveled , totaling more than US $ 700 million .
There was more progress on the loss and damage agenda , with an agreement also reached that the UN Office for Disaster Risk Reduction and the UN Office for Project Services would host the Santiago Network for Loss and Damage secretariat . This platform will catalyse technical assistance to developing countries that are particularly vulnerable to the adverse effects of climate change .
Parties agreed on targets for the Global Goal on Adaptation ( GGA ) and its framework , which identifies where the world needs to go to be resilient to the impacts of a changing climate and assess countries ’ efforts . The GGA framework reflects a global consensus on adaptation targets and the need for finance , technology and capacity-building support .
INCREASING CLIMATE FINANCE
Climate finance took centrestage at the conference , with Stiell repeatedly calling it the “ great enabler of climate action ”.
The Green Climate Fund ( GCF ) received a boost to its second replenishment , with six countries pledging new funding at COP 28 , with total pledges now standing at a record US $ 12.8 billion from 31 countries , with further contributions
expected .
Eight donor governments announced new commitments to the Least Developed Countries Fund and Special Climate Change Fund , totalling more than US $ 174 million . In contrast , new pledges , totalling nearly US $ 188 million , were made to the Adaptation Fund at COP 28 .
However , as the global stocktake highlights , these financial pledges are far short of the trillions eventually needed to support developing countries with clean energy transitions , implementing their national climate plans and adaptation efforts .
To deliver such funding , the global stocktake underscores the importance of reforming the multilateral financial architecture and accelerating the establishment of new and innovative sources of finance .
At COP 28 , discussions continued on setting a ‘ new collective quantified goal on climate finance ’ in 2024 , considering developing countries ’ needs and priorities . Starting from a baseline of US $ 100 billion per year , the new goal will be a building block for the design and subsequent implementation of national climate plans that need to be delivered by 2025 .
Looking ahead to the transitions to decarbonised economies and societies that lie ahead , there was agreement that the mitigation work programme , which was launched at COP 27 last year , will continue until 2030 , with at least two global dialogues held each year .
EVENT PARTICIPATION AND INCLUSIVITY
World leaders at COP 28 were joined by civil society , business , Indigenous Peoples , youth , philanthropy , and international organisations in a spirit of shared determination to close the gaps to 2030 . Some 85,000 participants attended COP 28 to share ideas , solutions , and build partnerships and coalitions .
The decisions also reemphasise the critical importance of empowering all