EDEN IAS

COP 28

UNFCCC- COP 28

Why in the news COP 28?

At the 28th Conference of Parties (COP-28), which was held in Dubai, United Arab Emirates, delegates from 197 nations showcased their efforts to mitigate global warming and participated in deliberations for forthcoming climate measures.

Although there were some disappointing results from the summit, overall it was a significant improvement over the Paris Agreement. While some celebrate the end of the fossil fuel era, concerns exist regarding the shortcomings of adaptation efforts and gaps in mitigating plans.

COPs 28: What are they?

COPs are meetings that take place under the auspices of the 1992-established United Nations Framework Convention on Climate Change (UNFCCC), an international agreement.

The Conference of the Parties holds these sessions, which are called COP meetings.

In these meetings, participating nations (Parties) assess international initiatives that support the Paris Agreement’s main objective, which is to limit global warming to roughly 1.5 °C over pre-industrial levels.

What are COP 28 (2023)’s Main Goals?

Global Stocktake Text:

  • A system for periodic reviews, the Global Stocktake (GST) was created in 2015 as part of the Paris Agreement.
  • Eight recommendations are made in the text to limit the rise in global temperature to 1.5 degrees Celsius.
  • By 2030, it demands that the world’s renewable energy capacity be tripled and the average yearly pace of energy efficiency gains to double internationally.
  • By 2030, it demands a significant global reduction in non-CO2 emissions, especially methane emissions.

Moving Away from Fossil Fuels:

  • COP28 advocates for moving away from fossil fuels in energy systems in a fair, just, and equitable way, speeding up efforts in this crucial decade to reach net zero by 2050.
  • Enhancing adaptive capacities and reducing vulnerability for sustainable development are the two main objectives of the Global Goal on Adaptation (GGA).
  • This statement demands that adaptation funding be doubled at COP28 and that plans for evaluating and tracking adaption needs in the upcoming years be made.
  • Positively, the aims for water security, ecological restoration, and health have a clear 2030 deadline included in the text.

Climate financing of COP 28:

  • Under the New Collective Quantified Goal (NCQG) for climate financing, the United Nations Conference on Trade and Development (UNCTAD) projects that wealthier countries owe developing countries USD 500 billion by 2025.
  • Before 2025, a new, collectively quantifiable objective is to be established. The target will begin at a base of USD 100 billion annually.
  • Included in this are USD 250 billion for loss and damage, USD 100 billion for adaptation, and USD 250 billion for mitigation.

Loss and Damage Fund:

  • To provide compensation to nations suffering from the effects of climate change, member nations agreed to operationalize the Loss and Damage (L&D) fund.
  • Least Developed Countries and Small Island Developing States are allocated a particular percentage.
  • The loss will be managed by the World Bank.

Global Renewables and Energy Efficiency Pledge:

  • By 2030, signatories pledge to cooperate in tripling the installed capacity of renewable energy generation worldwide to 11,000 GW or more.
  • Additionally, until 2030, it demands that the average annual rate of energy efficiency increases worldwide be doubled from about 2% to over 4%.

The COP 28 Global Cooling Pledge:

  • 66 national governments have signed it, pledging to cooperate in bringing down cooling-related emissions worldwide by at least 68% by 2050 compared to 2022 levels in all sectors.

Treble Nuclear Energy Declaration:

  • The goal of the COP28 declaration is to treble the world’s nuclear energy capacity by 2050.

What are India’s Main Contributions to COP 28?

Green Credit Initiative:

  • The Green Credit Initiative is a voluntary pro-environment program designed to provide a practical solution to the problem of climate change by providing incentives.
  • To restore and revitalize natural ecosystems, it proposes issuing Green Credits for plants on waste/degraded lands and river catchment areas.
  • The second phase of the Leadership Group for Industry Transition (LeadIT 2.0) will concentrate on financial support to emerging economies for industry transition, co-development, and transfer of low-carbon technologies, and inclusive and just industry transition.

Alliance of Global River Cities (GRCA):

  • It was introduced at COP 28 and was run by the Indian government’s National Mission for Clean Ganga (NMCG), which is part of the Ministry of Jal Shakti.
  • GRCA highlights India’s contribution to climate resilience and sustainable development centered on rivers.
  • This portal will help spread best practices, river-city twinning, and knowledge exchange.

Quad climate working group on localized climate action:

  • The event focused on recognizing the role of local communities and regional governments in sustainable lifestyles.
  • No Specific Goals for Tripling Global Renewable Energy Installed Capacity: The COP28 accord requires nations to double annual gains in energy efficiency and triple the installed capacity of renewable energy worldwide.
Key concerns of COP 28:
  1. The goal of tripling installed capacity is worldwide; individual nations are not required to triple their current installed capacity. Therefore, it’s unclear how this tripling would be made sure of.
  2. Lack of Clearly Definable Mechanisms for Reaching Adaptation Goals: Developing nations expressed that the adaptation draft significantly fell short of their expectations; neither the methods nor the funding sources for these efforts are mentioned.
  3. Absence of Financial Commitment Accountability: At the moment, there is no formalized system in place to hold organizations and governments responsible for meeting their financial obligations related to climate finance.
  4. Many Interpretations of Climate Finance Data: There are many approaches used in the compilation of data on climate finance flows, leading to a variety of interpretations. When the same funds are reported by numerous parties, it can lead to double counting of climate funding and an overestimation of the actual financial flows.
  5. Opposition to the Phase-down of Coal: India, China, South Africa, and other nations fiercely opposed the proposal to mandate that no new coal-fired power plants may be built without an integrated carbon capture and storage facility.
  6. Fears Regarding Methane Emission Reductions: By 2030, “non-carbon-dioxide emissions globally, including in particular methane emissions, are to be accelerated and substantially reduced,” according to the agreement.
  7. Readjusting agricultural practices to reduce methane emissions may be very delicate in a nation like India.
Way forward to COP 28:
Commitment to Enhanced Climate Action: Nations participating in COP28 should reiterate and enhance their commitments to climate action. This includes setting ambitious targets for reducing greenhouse gas emissions, increasing the share of renewable energy, and improving energy efficiency.
Implementation of Previous Agreements: The conference should focus on the effective implementation of previous agreements, such as the Paris Agreement. This involves tracking progress, addressing challenges, and finding solutions to ensure that countries are on track to meet their climate goals.
Adaptation and Resilience: There should be a strong emphasis on adaptation and building resilience to the impacts of climate change. This includes supporting vulnerable communities, enhancing infrastructure, and developing strategies to cope with changing climate conditions.
Finance and Support for Developing Nations: COP28 should address the financial commitments made by developed nations to support developing countries in their climate efforts. This includes funding for mitigation and adaptation projects, as well as capacity-building initiatives.
Nature-Based Solutions: Encouraging and implementing nature-based solutions to climate change, such as reforestation, sustainable land management, and conservation efforts, can be a key aspect of COP28.
Innovation and Technology Transfer: The conference should foster discussions on innovation and technology transfer, promoting the development and deployment of climate-friendly technologies across borders.
Stakeholder Engagement: Engaging various stakeholders, including businesses, civil society, and local communities, is crucial for the success of climate action. COP28 should encourage collaboration and partnerships to amplify climate efforts.
Transparency and Accountability: Enhancing transparency in reporting and accountability mechanisms will be essential. Countries should be transparent about their progress, and there should be mechanisms to hold nations accountable for meeting their climate commitments.
Youth and Public Involvement: Involving youth and the general public in climate discussions and decision-making processes is critical. COP28 should explore ways to amplify the voices of young people and encourage public participation.
Post-COP Implementation Plans: Countries should develop clear post-COP implementation plans, detailing how they intend to achieve their climate targets and contribute to global efforts in the years following the conference.
Conclusion for COP 28:

The 28th Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC) marked another crucial milestone in the global effort to address climate change. The conference brought together nations, stakeholders, and organizations from around the world to deliberate on urgent climate issues, with a focus on collaborative solutions and concrete actions through the challenges that need to be addressed in the future to achieve a sustainable environment.

Source: Wikipedia, United Nations.