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As the 28th session of the Conference of the Parties (COP28) to the UN Framework Convention on Climate Change (UNFCCC) starts on Thursday, the world turns its attention to the climate negotiations.
COP28 will deliver the first report card of climate action. Here's what to expect from the summit in Dubai where 70,000 delegates representing 198 countries will gather from November 30 to December 12.
'Global stock take' (GST)
At COP28, the leaders of member countries will sit down to take stock of what the world is really doing to address global temperature rise and climate change. This evaluation, termed the global stock take (GST), is scheduled to occur every five years, holding governments responsible for their climate actions. Following this first-ever GST, nations will have until 2025, a two-year span, to revise and enhance their action plans. The GST will concentrate on three key areas: mitigation, adaptation, and financial strategies.
Key decisions expected during COP28
Fossil fuel "phase out" is one of the key decisions expected at COP28. India, which is reliant on coal for 55 per cent of its energy requirements, had aCOP27 proposed extending a coal "phase down" to include oil and gas. This proposal did not reach the final agreement then, presenting an opportunity at COP28 for nations to reach a consensus on reducing all fossil fuel usage.
Another development that is expected to take the centre stage at COP28 is the tripling of renewable energy capacity by 2030.
A critical issue up for debate in COP28 is the unfulfilled promise of climate finance made by wealthy nations at COP15 in 2009. The commitment was to provide $100 billion annually for climate change mitigation and adaptation in less affluent nations. Despite the importance of affordable, accessible climate finance for developing countries to achieve their Nationally determined contributions (NDCs), actual funding provided remains a question.
NDCs are short to medium-term goals set by countries, encompassing strategies for emission reduction, and climate change mitigation and adaptation.
NDCs are short to medium-term goals set by countries, encompassing strategies for emission reduction, and climate change mitigation and adaptation.
A report released on November 16 by the Organisation for Economic Cooperation and Development (OECD), an intergovernmental organisation, said that developed countries fell short of their promise to jointly mobilise $100 billion a year in 2021 – one year past the 2020 deadline. The report said developed countries mobilised $89.6 billion in 2021 and that finance for adaptation fell by 14 per cent in 2021 compared to 2020.
The operationalisation of the Loss and Damage fund, a key demand from developing nations, will be a critical test for the success of COP28. While setting up of this fund to offset the impact of climate change exacerbated by developed countries' emissions was a landmark agreement from the COP27, there are still some disagreements on who should contribute most to it.
For the first time at a COP summit, there is a full day devoted to discussing initiatives for "protecting lives, livelihoods, community resilience, and stability" amidst worsening climate change effects. High-level dialogues will address health, relief, recovery, and peace, focusing on conflict-ridden regions where climate mitigation and adaptation are challenging.
Despite the 2015 Paris Agreement's goal to limit global temperature rise to two degrees Celsius, with efforts to keep it to 1.5 degrees Celsius, the world has already warmed by 1.1 degrees Celsius. The Intergovernmental Panel on Climate Change (IPCC) states that greenhouse gas emissions must reduce by 43 per cent by 2030 from 2019 levels to meet the 1.5-degree target. COP28 marks a crucial juncture in global climate discussions, with decisions made here significantly impacting efforts to address climate change.
