The 28th UNFCCC Conference of Parties (COP) commenced in Dubai’s Expo City lasts from 30th November to 13th December 2023 with huge hopes and actionable ambitions.
COP is a crucial gathering where leaders, policymakers, scientists, activists, and various stakeholders collaborate to set international climate policy and make decisions aimed at mitigating climate change and its impacts. These conferences often involve discussions on emission reduction targets, adaptation strategies, financial aid for developing nations technology transfer, and various other climate-related issues.
COP 28 was very important and historic in many ways
USA president Joe Biden and his counterpart in China Xi Jin Ping had a meeting in California on 15th November 2023 just before the COP 28 conference. This meeting consist of many ice-breaking discussions. One of the important discussion was about the cooperation on countering Climate Change. These two biggest global players were reluctant to cooperate with each other during COP 27. However, in COP 28 it has been reversed.
First time the World expressed a unified desire to end the use of fossil fuels by 2050. This transformation is not rapid. Changes over time will ensure a longer-term transformation of the Energy Economy.
The technological driven reward for Oil producing Countries in curbing the fossil fuel use has also been decided. The reward includes technologies like Carbon Capture that can reduce the impact on climate of oil, natural gas and coal. Boosting the use of such technologies was highlighted for nations to fight climate change. It is historic. Parties have agreed to phase out the fossil fuels in transitions and the end of fossil fuel era has begun.
Another positive take away of this Conference is to operationalize the Loss and damage fund agreed in COP 27. The loss and damage fund is important for those states that are affected by the Climate Change factors they must be compensated by those states who have the means to and are greatly contributing towards Global Warming.
Similarly, tripling the global renewable energy capacity and doubling the rate of energy efficiency gains annually are the most credible targets for Renewable Energy and Energy Efficiency is a big step forward.
Further, the Global Goal on Adaptation was established under the Paris Agreement enhanced and addresses the critical issues of Water Scarcity, Resilient food and agriculture production and Resilience against Climate changing health impacts.
COP 28 is a new global climate deal. Simon Stiell, the Executive Secretary of U.N. Climate Change, labeled COP28 a success, heralding the decision to transition away from fossil fuels as “beginning of the end” for the fossil fuel era.
2023 set to be the hottest year on record. Another year of droughts, floods, and climate related calamities are about to end. In these circumstances, the 28th conference of parties in Dubai has pledged to counter the global warming. COP 28 a promising start but in today’s complex geo-political dynamics and self-interests often prevails the long-term collective interests.