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COP28 : Dubai, UAE - Achievements and Failures
The 28th UN Climate Change Conference (COP 28), held in Dubai in 2023, was a pivotal
moment for global climate negotiations. Amid rising temperatures and worsening climate
impacts, the conference aimed to strengthen commitments under the Paris Agreement
and accelerate action towards limiting global warming to 1.5°C. With the first-ever Global
Stocktake, COP 28 assessed progress, identifying critical areas where the world is falling
short. While the conference saw important strides in climate finance, renewable energy
commitments, and the operationalization of the Loss and Damage Fund, it was marked by
challenges, including disagreements on fossil fuel phase-out and insufficient financial
pledges. This article delves into the key achievements and shortcomings of COP 28 and
explores what lies ahead for COP 29 in Baku, Azerbaijan.
Achievements at COP 28 in Dubai
1. Global Stocktake and Emissions Commitments
Purpose: COP 28 conducted the first-ever Global Stocktake of the Paris Agreement,
assessing global progress toward achieving the 1.5°C target.
Outcome: The stocktake revealed insufficient progress in emissions reductions,
highlighting the need for more ambitious and urgent climate action.
Agreement: Countries acknowledged the need to reduce emissions by about 45% by
2030 compared to 2010 levels, a goal in line with limiting warming to 1.5°C.
Challenges: Many countries struggled with defining national policies to meet these
targets, especially those heavily reliant on fossil fuels.
2. Focus on Renewable Energy
Investment in Renewables: The conference emphasized scaling up investment in
renewable energy sources like wind, solar, and hydro.
Commitments from Major Economies: The EU, the U.S., and some Asian countries made
significant pledges to increase renewable energy output and to phase out coal power by
specific timelines.
Challenges in Implementation: Developing countries emphasized the need for financial
and technical support to achieve similar targets, citing lack of infrastructure and capital.
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3. Climate Finance for Developing Countries
Doubling Adaptation Finance: COP 28 reaffirmed the commitment made at COP 26 to
double adaptation finance by 2025, aiming to help developing nations cope with
climate impacts.
Progress on Loss and Damage Fund: Following COP 27’s historic agreement to
establish a Loss and Damage Fund, COP 28 laid out some structural and governance
frameworks for this fund.
Contributions from Wealthy Nations: Pledges were made by some high-income
countries, but overall contributions fell short of what is needed to meet global
adaptation and mitigation needs.
4. Loss and Damage Fund Implementation
Funding Mechanisms: While the fund was formally adopted at COP 27, COP 28 focused
on its operationalization. Discussions included the sources of funding, eligibility
criteria, and distribution mechanisms.
Support for Vulnerable Nations: The fund aims to provide financial assistance to
countries most affected by climate disasters, such as small island nations and least
developed countries.
Challenges: Differences remain over who should contribute to the fund, with developed
countries pushing for broader funding sources, including private sector contributions.
5. Nature-Based Solutions and Biodiversity
Commitment to Protect Forests and Oceans: Recognizing the role of ecosystems in
carbon sequestration, COP 28 highlighted commitments to protect biodiversity and
reduce deforestation.
Integration with Kunming-Montreal Biodiversity Framework: COP 28 aligned with
recent biodiversity goals, supporting a 30x30 target (protecting 30% of the planet by
2030).
Financial and Technical Gaps: Implementing these solutions requires substantial
funding, and many developing countries noted the lack of financial support for
conservation efforts.
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Shortcomings and Failures at COP 28
1. Fossil Fuel Phase-Out Debate
Absence of Binding Agreements: Major fossil-fuel-producing countries, including some Middle
Eastern nations, resisted binding commitments to phase out fossil fuels.
Lack of Consensus on Timelines: While many countries support phasing out unabated coal,
there was little consensus on setting a timeline to phase out oil and gas.
Implications: This resistance could delay progress on the Paris Agreement goals, as fossil fuels
remain a major contributor to global emissions.
2. Insufficient Financial Commitments
Adaptation Finance Gap: Despite promises to double adaptation funding, the current
contributions remain insufficient to meet the needs of vulnerable countries.
Loss and Damage Fund Shortfall: High-income nations pledged limited contributions to the
Loss and Damage Fund, and no consensus was reached on mandatory funding from developed
nations.
Private Sector Engagement: While encouraged, private sector contributions are still
inconsistent and lack clear incentives for large-scale investment.
3. Slow Progress on Carbon Markets
Article 6 of the Paris Agreement: COP 28 aimed to finalize rules for international carbon
markets, allowing countries to trade carbon credits to meet their emission reduction targets.
Challenges in Implementation: Disagreements arose over transparency and environmental
integrity, with concerns that weak regulations could lead to carbon "double counting" and
greenwashing.
Implications: A functioning global carbon market could provide financial incentives for
emissions reductions, but unresolved issues may delay its potential benefits.
Key Focus Areas for COP 29 in Baku
1. Finalizing and Operationalizing the Loss and Damage Fund
2. Strengthening Emissions Reduction Commitments
3. Adaptation and Resilience Building
4. Advancing Carbon Markets
5. Continued Focus on Nature-Based Solutions and Biodiversity
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Claretian UN Claretian NGO at UN @UN_Claretians UN Claretians
