The United Nations Climate Change Conference (COP28) wrapped up today with a landmark agreement signaling the “beginning of the end” of the fossil fuel era. Nearly 200 Parties joined forces in Dubai, committing to a swift, just, and equitable transition underscored by profound emissions reductions and escalated financial support.
Global Stocktake: A Blueprint for Climate Action The highlight of COP28, the world’s first ‘global stocktake,’ serves as a comprehensive roadmap for countries to amplify climate action before the decade concludes. The overarching goal is to keep the global temperature limit of 1.5°C within reach.
Acknowledging Off-Track Goals and Urgent Measures: Recognizing the necessity for a 43% reduction in global greenhouse gas emissions by 2030, compared to 2019 levels, the stocktake emphasizes the urgency of achieving a tripling of renewable energy capacity and doubling energy efficiency improvements by 2030. It also calls for the phasedown of unabated coal power and the elimination of inefficient fossil fuel subsidies.
Finance as the Great Enabler: COP28 highlighted the crucial role of climate finance, with the Green Climate Fund (GCF) receiving substantial replenishments and commitments. However, the global stocktake reveals that these financial pledges fall short of the trillions required to support developing countries in clean energy transitions and adaptation efforts.
Empowering All Stakeholders: With 85,000 participants from civil society, business, Indigenous Peoples, youth, philanthropy, and international organizations, COP28 emphasized inclusivity. The conference showcased the critical importance of empowering all stakeholders through the Action for Climate Empowerment and the Gender Action Plan.
Collaboration and Real-World Solutions: In addition to formal negotiations, COP28’s Global Climate Action space provided a platform for governments, businesses, and civil society to collaborate and showcase real-world climate solutions. The High-Level Champions launched the 2030 Climate Solutions roadmap, outlining effective measures to halve global emissions, address adaptation gaps, and increase resilience by 2030.
Looking Ahead: Critical Years and Key Milestones: The next two years are deemed critical, with COP29 in 2024 focusing on establishing a new climate finance goal. COP30 in 2025 will require nations to present new nationally determined contributions aligned with the 1.5°C temperature limit.
Closing Message and Reflections: UN Climate Change Executive Secretary Simon Stiell emphasized the importance of translating pledges into tangible outcomes. Despite not fully turning the page on the fossil fuel era, Stiell stated that COP28 marked the “beginning of the end.” He urged ordinary people globally to persist in their calls for change, emphasizing their crucial role in the race towards a sustainable future.
COP28 President’s Closing Remarks: COP28 President, Dr. Sultan Al Jaber, acknowledged the historic achievement, emphasizing the collective effort in securing a better future for people and the planet. As the world finds a new path, the legacy of COP28 sets the stage for an era focused on implementing the Paris Agreement and realizing a 1.5-degree world.
