News
2023 United Nations Climate Change Conference (COP28): Resources
The 2023 United Nations Climate Change Conference (COP28) convened from 30 November to 12 December 2023 in Dubai, United Arab Emirates (UAE). It saw the first Global Stocktake to assess collective progress made towards meeting the Paris Agreement goals. The global stocktake is a process for countries and stakeholders to see where they’re collectively making progress towards meeting the goals of the Paris Climate Change Agreement – and where they’re not. The programme reflected the sectors and topics raised by stakeholders during consultations, including new actions areas like health, trade, relief, recovery, and peace.
UAE Consensus reached
Nearly 200 nations sealed an agreement on Wednesday, 13 December 2023. The agreement “has the potential to redefine our economies,” summit president Sultan al-Jaber, the chief executive of the United Arab Emirates’ state-owned oil company, said as the deal drew a standing ovation. “It is a plan that is led by the science,” al-Jaber said. “It is an enhanced, balanced but make no mistake, a historic package to accelerate climate action. It is the UAE consensus.”
Download the COP28: The UAE Consensus
Find out more in the Summary of Global Climate Action at COP28
“An agreement is only as good as its implementation. This historic consensus is only the beginning of the road.”
H.E. DR. Sultan Ahmed Al Jaber
President, COP28 UAE
Outcome documents
pdf Outcome of the first global stocktake: Draft decision - 13 December 2023 (revised) (369 KB)
pdf COP28 UAE Leaders Declaration on a Global Climate Finance Framework (238 KB)
pdf COP28 UAE Declaration on Climate and Health (752 KB)
pdf Guiding Principles on Financing Climate and Health Solutions (1.84 MB)
pdf COP28 Declaration on Climate Relief, Recovery and Peace (1.25 MB)
pdf Outcome Statement on Urbanization and Climate Change (292 KB)
pdf Multilateral Development Banks (MDB) Joint Statement (169 KB)
pdf UAE Declaration on Sustainable Agriculture, Resilient Food Systems and Climate Action (751 KB)
pdf COP28 Coalition for High Ambition Multilevel Partnerships (CHAMP) for Climate Action (9.02 MB)
pdf Oil and Gas Decarbonization Charter (756 KB)
pdf COP28 Steel Standards Principles (1.23 MB)
pdf COP28 UAE Global Renewables and Energy Efficiency Pledge (492 KB)
pdf Joint Agreement on the Responsible Deployment of Renewables-Based Hydrogen (10.99 MB)
pdf Global Cooling Pledge for COP28 (1.15 MB)
Background
Climate change and global warming pose significant risks to the global community. Its effects are felt in the physical environment in the form of increasing droughts, floods, wildfires, desertification and rising greenhouse gas emissions, among other things, but importantly also significant economic losses. The impact of climate change is evident in increasing displacement, mass migration, conflict and instability, environmental degradation, and food crises.
In the global effort to address climate change and its negative impacts, world leaders at the UN Climate Change Conference (COP21) in 2015 in Paris reached a breakthrough: the Paris Agreement. It is a legally binding international treaty, currently with 194 Parties, with the following overarching long-term goals:
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To substantially reduce global greenhouse gas emissions to limit the global temperature increase in this century to 2 degrees Celsius (ºC) while pursuing efforts to limit the increase even further to 1.5ºC;
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Review countries’ commitments every five years; and
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Provide financing to developing countries to mitigate climate change, strengthen resilience and enhance abilities to adapt to climate impacts.
Global Stocktake
2023 saw the first global stocktake to assess collective progress made towards meeting the Paris Agreement goals. While Parties to the 2015 Paris Agreement have taken widespread actions to address climate change and its impacts, ambition and implementation must be accelerated rapidly. By evaluating where the world stands when it comes to meeting the goals of the Paris Agreement and using its inputs, the stocktake can help policymakers and stakeholders strengthen their climate policies and commitments in their next round of NDCs, paving the way for accelerated action. Many creative and actionable solutions to overcome challenges are ready to be implemented. IPCC’s Synthesis Report to the Sixth Assessment Report, released in March 2023, is one of the direct and critical scientific inputs to this process.
Technical dialogue of the first global stocktake: Synthesis report by the co-facilitators on the technical dialogue
COP28, IRENA and GRA report: Tripling renewable power and doubling energy efficiency by 2030: Crucial steps towards 1.5°C
Follow-up to COP27
The previous United Nations Climate Change Conference (COP27) closed on 20 November 2022, delivering a package of decisions that reaffirmed their commitment to limit global temperature rise to 1.5 degrees Celsius above pre-industrial levels. The package also strengthened action by countries to cut greenhouse gas emissions and adapt to the inevitable impacts of climate change, as well as boosting the support of finance, technology and capacity building needed by developing countries. One of the key outcomes was the decision on the Sharm el Sheikh Adaptation Agenda: The global transformations towards adaptive and resilient development. An implementation report is available here: Sharm el-Sheikh Adaptation Agenda - Implementation Report 2023
tralac Analysis
COP28 Outcomes: the beginning of the end for fossil fuels or a COP-out?
COP climate summits almost inevitably leave some observers and participants disappointed. COP28, held in Dubai in early December, was no exception. Many commentators have expressed disappointment, especially on the grounds that the final text, approved by all 198 participating parties (197 nations plus the European Union) – is ‘devoid of actionable commitments’.
Sustainable Trade: Insights from Trade Day at COP28
The COP28 Trade Day was the first of its kind for the annual COP conference. Major trade-related organisations, including UNCTAD, the WTO, Dubai Ports World, and the International Chamber of Commerce gathered to address the urgent need for a coordinated and just response to climate change within the global trade landscape. Notable announcements included the introduction of Trade Policy Tools for Climate Action; collaboration with the International Renewable Energy Agency (IRENA) on green hydrogen; and the Steel Standards Principles for decarbonisation.
The global agricultural industry, the second-largest contributing sector to greenhouse gas emissions, must change for the world to meet the Paris Agreement commitments. This was acknowledged by the 134 signatories to the Declaration on Sustainable Agriculture, Resilient Food Systems, and Climate Action. The declaration is a call to action to address the impact of climate change on food systems and move towards sustainable farming and consumption practices.
Climate and Health at COP28: Treating the Symptoms or Causes?
At COP28 in Dubai, state parties rightly recognised the climate crisis as a health emergency – for the first time – with a Declaration on Climate and Health. COP28 also saw the launch of a new set of Guiding Principles for Financing Climate and Health Solutions, a dedicated Health Day, and over $2.7 billion pledged to health initiatives related to climate change. While these achievements are laudable, the lack of acknowledgement of the role of fossil fuels, specifically, has led to widespread criticism.
Fossil Fables: Reading Between the Lines of the COP28 Oil and Gas Decarbonization Charter
One of the more controversial pledges made at COP28 is the Oil and Gas Decarbonization Charter (OGDC), which calls for the reduction of methane emissions in the fossil fuels industry with the aim of mitigating global warming and the effects of climate change. Critics have called it a diversion from the focus to phase out fossil fuels entirely.
Updates
Highlights from Day 11 - 10 December
COP28’s Food, Agriculture and Water Day saw major announcements on climate action for both water and food security and decarbonization, as countries demonstrated their commitment to implement the COP28 UAE Declaration on Sustainable Agriculture, Resilient Food Systems, and Climate Action.
“To achieve the goals of the Paris Agreement, to keep 1.5C within reach, we must address the connection between global food systems, agriculture, and the climate. At COP28, we have built the foundations for action, which commit 152 countries to transform their food systems, and embedding those commitments in their climate strategies, all the while ensuring they are protecting the livelihoods of those who depend on those sectors. Together, we must build a global food system that is fit for the future. Today marks an important moment in achieving this.” - H.E Mariam bint Mohammed Almheiri, UAE Minister of Climate Change and Environment and COP28 Food Systems Lead
Highlights from Day 10 - 9 December
COP28 and International Energy Agency reaffirm 1.5°C-aligned energy transition
The COP28 Presidency and the International Energy Agency (IEA) High-Level Dialogues concluded with strong consensus on the key elements needed for the energy transition. The Dialogues concluded with clear convergence on the building blocks of a 1.5°C-aligned energy transition and strong support for an ambitious decision on the Global Stocktake at COP28.
Dr. Birol set out an ambitious and integrated package across five pillars for COP28, for which there was strong support in the room: Tripling global renewable energy generation capacity by 2030; Doubling annual energy efficiency improvements by 2030; An orderly decline of fossil fuel use demand by 2030, starting with no new coal plants; Commitment from the oil and gas industry to align their strategies and investment portfolios with 1.5°C, with a focus on a 75 percent reduction in methane emissions by 2030; and Financing mechanisms for a major scaling-up of clean energy investment in emerging and developing economies.
Read more in an IRENA-WTO report: International trade and green hydrogen: Supporting the global transition to a low-carbon economy
Global annual finance flows of $7 trillion fuelling climate, biodiversity, and land degradation crises (UN Environment)
Investing in nature-based solutions provides a strategic and cost-effective avenue to address the interconnected challenges of climate change, biodiversity loss, and land degradation while at the same time making tangible headway towards the sustainable development goals,” said Jochen Flasbarth, State Secretary in the German Federal Ministry for Economic Cooperation and Development, which funded the report. Close to $7 trillion is invested globally each year in activities that have a direct negative impact on nature from both public and private sector sources – equivalent to roughly 7 per cent of global Gross Domestic Product (GDP) – according to the latest State of Finance for Nature report released today at COP28 by the UN Environment Programme (UNEP) and partners.
Highlights from Day 9 - 8 December
COP28’s flagship Youth Day hosted the first ever Youth Stocktake, bringing together thousands of young people from across the globe under the banner of climate action. COP28 President Dr. Sultan Al Jaber said: “This COP is working to build a global legacy and a better future for youth and children. This is a turnaround COP that will ensure full inclusivity is at the heart of the climate process.” Youth, Children, Skills and Education Day convened in Dubai on 8 December, with the COP28 Presidency delivery on its commitment to put young people at the center of climate diplomacy.
UN Climate Change Executive Secretary makes impassioned plea to keep 1.5 alive
We all know the scale of the climate crisis. COP28 must be about solutions to get all countries out of this climate mess. That is my central focus: solutions, acceleration, the highest ambition here at COP, and a springboard for the crucial years ahead. COP28 must deliver a big switch: not just ‘what’ governments must do, but also ‘how’ to get the job done. The technologies and tools all exist. This week negotiators must agree on putting them to work. In short, it’s go-time for governments at COP28 this week. - UN Climate Change Executive Secretary Simon Stiell
Highlights from Day 8 - 7 December
UN climate chief Simon Stiell said on Wednesday that COP28 delegates must take ambitious action on curbing global warming and ending the climate crisis. COP28 continues its work on Friday, also the day talks on an outcome text kick into high gear. Negotiators are aiming to agree on how to bolster emissions-cutting targets set by the Paris Agreement and what to do about the future of fossil fuels like oil, gas and coal.
COP28 in Dubai enters final week, negotiations ramp up on emissions cuts, fossil fuels
Negotiators are aiming to agree on how to bolster emissions-cutting targets set by the Paris Agreement and what to do about the future of fossil fuels like oil, gas and coal. UN climate chief Simon Stiell said that “[w]e need highest ambition, not point scoring or lowest common denominator politics.” UN chief António Guterres has said the Conference of Parties to the UN Convention on Climate Change (UNFCCC), which facilitates these annual conferences, “must commit countries to triple renewables capacity, double energy efficiency, and bring clean energy to all, by 2030.”
African Development Bank Group President Dr Akinwumi Adesina has warned that a new EU carbon border tax could significantly constrain Africa’s trade and industrialization progress by penalizing value-added exports including steel, cement, iron, aluminium and fertilizers. “With Africa’s energy deficit and reliance mainly on fossil fuels, especially diesel, the implication is that Africa will be forced to export raw commodities again into Europe, which will further cause de-industrialisation of Africa,” he said.
“Africa could lose up to $25 billion per annum as a direct result of the EU Carbon Border Tax Adjustment Mechanism,” the Bank President told delegates at the Sustainable Trade Africa Conference held at the UAE Trade Centre in Dubai. “Africa has been short-changed by climate change; now it will be short-changed in global trade,” the Bank President said. “Because of weak integration into global value chains, Africa’s best trade opportunity lies in intra-regional exchanges, with the new Africa Continental Free Trade Area estimated to increase intra-Africa exports over 80% by 2035.”
Highlights from Day 7 - 6 December
Ministerial Meeting on Urbanization and Climate Change
The COP28 Presidency reiterated its call to national governments to fully integrate climate action among all levels of government and collaborate with subnational governments on the design and implementation of new climate plans and policies, including the next round of NDCs ahead of COP30 in 2025. The Outcome Statement sets out a ten-point plan to boost the inclusion of cities in the decision-making process on climate change, drive multilevel climate action and accelerate the deployment of urban climate finance so that cities are prepared and supported to respond to the climate crisis.
The Ministerial followed the first-ever ‘Local Climate Action Summit’ to take place at a COP, where the ‘Coalition for High Ambition Multilevel Partnerships (CHAMP)’ – which calls for local and regional leaders to play a greater role in the formation of Nationally Determined Contributions (NDCs) was published. It has since been endorsed by over 60 national governments.
COP28 announces new partnerships and initiatives to advance sustainable urban development
Over 40 ministers met during the COP28 Multilevel Action, Urbanization, Built Environment and Transport Day, held in partnership with United Nations Human Settlements Programme (UN-Habitat) and the UN Climate Change High-Level Champion for COP28, announcing new initiatives to drive climate action in cities, spanning buildings, waste, transport, water, and nature. Announcements include the ‘Cement and Concrete Breakthrough’ and ‘Buildings Breakthrough’ – part of the broader suite of ‘Breakthroughs’ from COP26 and COP27 – which mobilize governments to finance solutions that are critical to healthier, more sustainable, and more equitable human settlements.
UN-Habitat and partners issue Call for Action for Sustainable Cities (UN-Habitat)
During a session at COP28 called “Closer to Home: Planning the Cities of the Future”, several commitments and announcements were made supporting efforts towards better urban planning and the management of our cities. Cities around the world are battlegrounds in our fight against climate change. The latest IPCC report highlights that integrated urban planning can reduce greenhouse gas emissions by 23 to 26 per cent by 2050. The opportunities for retrofitting and transforming how the cities of the future will be planned and built are enormous.
Development of new Cities’ Science-Based Targets for Nature launched at COP28 (Metabolic)
Today, the Science Based Targets Network (SBTN) announced plans to develop cities-focused science-based targets for nature. Advancing the scope to include cities, alongside companies, the new Cities’ Science-Based Targets for Nature program’s first objective is to create a holistic, science-based target indicators framework that covers the impact of cities on both climate and other natural systems. “This initiative comes as a crucial addition to ongoing efforts in understanding the intricate relationship between cities, climate goals, and the burgeoning realm of nature-related objectives,” said Patrick Frick, founder of the Global Commons Alliance, of which SBTN is a part.
Science-based targets to curb the impact of cities on nature in development (ESG Clarity)
Scientific reports at COP28 show we are heading in wrong direction (WMO)
pdf Global Carbon Budget 2023 (12.65 MB)
pdf WMO’s annual Greenhouse Gas Bulletin (7.02 MB)
pdf Provisional State of the Global Climate 2023 report (7.02 MB)
Related publications:
pdf Measuring climate impact: A draft approach for going from inputs to outcomes (1.39 MB) (World Bank)
pdf Is the Paris Agreement Working? A Stocktake of Global Climate Mitigation (1.90 MB) (IMF)
COP28 is about action, not politics and point scoring, says UN climate chief (UN News)
UN climate chief Simon Stiell said on Wednesday that COP28 delegates are not in Dubai to “score points” and play at “lowest-denominator politics”; they must take ambitious action on curbing global warming and ending the climate crisis. Mr. Stiell’s strong message to government negotiators comes as the latest UN climate conference reaches the halfway mark with agreement on financing for climate adaptation and the fate of fossil fuels still up in the air.
Fossil fuel ‘phase out’ put on table for COP28 climate talks (The Business Standard)
Countries at COP28 are considering calling for a phase-out of fossil fuels as part of the summit’s final deal, according to a draft negotiating text seen on Tuesday. Research published on Tuesday showed global carbon dioxide emissions from burning fossil fuels are set to hit a record high this year, exacerbating climate change and fuelling more destructive extreme weather. A draft of what could be the final agreement from COP28, published by the UN climate body, kicks off negotiations around what is considered the summit’s defining issue: whether countries will agree to eventually end the use of fossil fuels. The draft text includes three options, which delegates from nearly 200 countries will now consider.
Highlights from Day 6 - 5 December
Key measures could slash predicted 2050 emissions from cooling sector
Taking key measures to reduce the power consumption of cooling equipment would cut at least 60 per cent off predicted 2050 sectoral emissions, provide universal access to life-saving cooling, take the pressure off energy grids and save trillions of dollars by 2050, according to a new report. The Global Cooling Watch report demonstrates the potential and the pathways to achieve near-zero emissions from cooling, and provides a call to action for countries to pursue the policies and strategies that have the greatest impact in reducing cooling-related emissions and advancing sustainable cooling for all.
Countries Launch Declaration of Intent on Clean Hydrogen
39 countries launched the COP28 Declaration of Intent on the Mutual Recognition of Certification Schemes for Renewable and Low-Carbon Hydrogen and Hydrogen Derivatives. Recognizing the key role of clean hydrogen in global decarbonization and meeting global energy needs, endorsers of the declaration seek to work toward mutual recognition of hydrogen certification schemes to help facilitate a global market.
Highlights from Day 5 - 4 December
First-ever ‘Trade Day’ puts focus on trade in climate action
Trade can be a powerful tool in the fight against climate change, global leaders said on 4 December as they launched “Trade Day” at the COP28 climate summit in Dubai, United Arab Emirates. This was the first time the UN’s annual climate conference dedicated an entire day to trade, highlighting the growing recognition of the need to put trade front and center in climate action. “Climate and trade policies need to work together,” UNCTAD Secretary-General Rebeca Grynspan said. “As the world is coping with the devastating effects of global warming, it’s time for trade to play its role in shaping climate action that fosters inclusive and sustainable development.”
UNCTAD reports:
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Mapping trade-related measures in Nationally Determined Contributions
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Trade regulations for climate action: New insights from the global non-tariff measures database
WTO Director-General Ngozi Okonjo-Iweala highlighted that the international community remains well short of the Paris Agreement targets. She said that the trillions of dollars of low-carbon investments needed to achieve those targets are now facing higher borrowing costs. Against that background, she stressed that trade can help deliver greater emission reductions for each dollar spent and repurpose harmful subsidies to assist climate action. “The fact is, we cannot get to net-zero without trade because it is indispensable for spreading low-carbon technology to everywhere it is needed,” she noted.
The WTO Secretariat on 2 December launched a 10-point set of “Trade Policy Tools for Climate Action” to present governments with a toolkit to draw from in their efforts to meet global climate targets. The new publication explores how integrating the trade policy options, such as reviewing import tariffs on low-carbon solutions, into national strategies can help economies mitigate the effects of climate change and adapt to its consequences.
Multilateral Development Banks announce over $180 billion in new climate finance commitments through multi-year programs at COP28
Multilateral Development Banks (MDBs) joined together at the COP28 climate summit in Dubai to commit to ambitious climate action and unlock over $180 billion in climate finance. Emerging and Developing Economies will need more than $2.4 trillion annually in climate finance by 2030. These substantial commitments are a strong step forward towards meeting those targets and unlocking the impact capital required to support those on the front lines of the climate crisis. “MDBs and the IMF will have to play a key role in the implementation of the Global Climate Finance Framework launched by UAE along with key world leaders,” said H.E. Mohamed Al Hussaini, UAE Minister of State for Financial Affairs.
Ministers and senior officials convened in a series of discussions to ensure a gender-responsive just transition to support the implementation of the Paris Agreement. The high-level dialogue culminated in the announcement of a new COP28 Gender-Responsive Just Transitions & Climate Action Partnership from the COP28 Presidency, which was endorsed by over 60 Parties. The Partnership includes a package of commitments, including actions on data, finance, and equal opportunities. Implementation will be reviewed at a second convening during COP31.
Highlights from Day 4 - 3 December
On 1 and 2 December, 176 world leaders gathered for the World Climate Action Summit (WCAS), signaling a new era of climate action on the road to 2030. In a complex world, the WCAS provided an opportunity for the international community to unite behind a shared commitment for more expansive and urgent climate action in response to the Paris Agreement’s first Global Stocktake.
COP28 Galvanizes Finance and Global Unity for Forests and the Ocean
During the World Climate Action Summit, H.E. Razan Khalifa Al Mubarak, UN Climate Change High-Level Champion for COP28, unveiled $1.7 billion in nature conservation finance and cemented the role of nature in climate action from COP28 to COP30. Addressing nature-loss can save USD $104 billion in adaptation costs and has the potential to provide upwards of 30 percent of the CO2 mitigation action needed by 2030. A group of philanthropies announced USD $250 million of new finance under the Ocean Resilience Climate Alliance (ORCA), targeting protection for vulnerable marine areas, ocean-based mitigation efforts, and research on climate impacts.
Key business and philanthropy leaders joined with leaders of multilateral development banks and political leaders from emerging economies at COP28 today, to announce a range of initiatives aimed at harnessing the resources of business and philanthropy for climate action. The second day of the inaugural COP28 Business & Philanthropy Forum included key announcements on preserving nature, energy transition alongside a methane abatement accelerator and an initiative to decarbonize health supply chains.
COP28 Business & Philanthropy Climate Forum: Making Sustainability the Growth Story of Our Time
Highlights from Day 3 - 2 December
COP28 World Climate Action Summit
"We need COP to deliver a bullet train to speed up climate action": Simon Stiell at COP28
Finance is the great enabler for climate action. The negotiations must put it front and center. Loss and damage was a win, but we’re kidding ourselves if we think it’s a tick in the box for finance and support at this COP; more is required. We need enhanced transparency, and to deliver our promise to fund climate action across the world.
We’ve said we’ll double adaptation finance – now we have to deliver, including on the details, and set ourselves up to go much further. We must not lose any focus on the Global Goal for Adaptation.
COP28 Presidency launches landmark initiatives accelerating the energy transition
At the World Climate Action Summit today, COP28 President Dr. Sultan Al Jaber unveiled the Global Decarbonization Accelerator (GDA), a series of landmark initiatives designed to speed up the energy transition and drastically reduce global emissions. The GDA is focused on three key pillars: rapidly scaling the energy system of tomorrow; decarbonizing the energy system of today; and targeting methane and other non-CO2 greenhouse gases (GHGs). It is a comprehensive plan for system wide change, addressing the demand and the supply of energy at the same time.
Oil & Gas Decarbonization Charter launched to accelerate climate action
The COP28 Presidency and the Kingdom of Saudi Arabia today launched the landmark Oil and Gas Decarbonization Charter (OGDC) dedicated to speeding up climate action and achieving high-scale impact across the oil and gas sectors. To date, 50 companies, representing more than 40 percent of global oil production have signed on to the OGDC, with National Oil Companies representing over 60 percent of signatories. Signatories have committed to net-zero operations by 2050 at the latest, and ending routine flaring by 2030, and near-zero upstream methane emissions.
A set of new finance commitments to place health at the heart of climate action and accelerate the development of climate-resilient, sustainable and equitable health systems was announced to back up the political commitments in the ‘COP28 UAE Declaration on Climate and Health’, including a USD 300 million commitment by the Global Fund to prepare health systems, USD 100 million by the Rockefeller Foundation to scale up climate and health solutions, and an announcement by the UK Government of up to GBP 54 million.
The Declaration was announced ahead of the first ever Health Day at a COP and joins a series of announcements made during the World Climate Action Summit to keep 1.5C within reach. Endorsed by 123 countries, the Declaration marks a world first in governments acknowledging the growing health impacts of climate change on communities and countries. It also acknowledges the large benefits to people’s health from stronger climate action, including by reducing air pollution and lowering health care costs.
A consortium of multilateral development banks and funders, countries and philanthropies today published the Guiding Principles for Financing Climate and Health Solutions, announced at the World Climate Action Summit. The Guiding Principles establish a shared vision for financing that will rapidly reduce greenhouse gas emissions to improve health, protect people from the range of climate risks to health, and build resilient, environmentally sustainable health systems. They were developed by the COP28 Presidency in collaboration with various stakeholders.
Africa Day
African leaders emphasize need for significantly increased climate action and green growth financing (AfDB)
Amplify the voice of African countries globally and provide a space and platform to highlight the continent’s challenges, opportunities and responses – this was the focus of Africa Day on 2 December 2023. The day opened with a high-level session at which several African leaders called for “increasing climate finance and green growth in Africa”, the theme of the event. "Let’s make our priority investing in the deployment of the continent's abundant renewable resources and processing its essential minerals," Mr Gatete added, "Let us also develop African carbon credit markets, which provide significant opportunities for opening up green finance."
The African Development Bank, which launched a Climate Action Window to mobilize up to $14 billion to support adaptation in 37 low-income countries, highlighted the continent's wealth. "Everything that we have, we have in abundance," said AfDB President Akinwumi Adesina to African leaders and representatives of governments and the private and public sectors.
Highlights from Day 2 - 1 December
COP28 President Dr. Sultan Al Jaber today addressed global leaders at the World Climate Action Summit (WCAS), where he unveiled the COP28 finance agenda, describing it as “innovative thinking… for financing the new climate economy.” In his speech, Dr. Al Jaber launched the COP28 UAE Declaration on a Global Climate Finance Framework in response to the Global Stocktake, and to keep 1.5°C within reach and to meet the goals of the Paris Agreement.
Global agrifood systems are the climate solution, FAO Director-General tells world leaders
The COP28 Presidency today announced that 134 world leaders have signed up to its landmark agriculture, food and climate action declaration. Also announced was the mobilization of more than USD$2.5 billion in funding to support food security while combatting climate change and a new partnership between the UAE and the Bill and Melinda Gates Foundation for food systems innovation in the fact of climate change. The ‘COP28 UAE Declaration on Sustainable Agriculture, Resilient Food Systems, and Climate Action’ addresses both global emissions while protecting the lives and livelihoods of farmers who live on the frontlines of climate change.
Highlights from opening day - 30 November
Extracts from COP28 President Dr. Sultan Al Jaber’s Opening Plenary Speech
[S]ince Paris, we have made some progress. But we also know that the road we have been on will not get us to our destination in time. The science has spoken. It has confirmed that the moment is now to find a new road, a road wide enough for all of us, free of the obstacles and detours of the past. That new road starts with a decision on the Global Stocktake, a decision that is ambitious, corrects course and accelerates action to 2030.
Adaptation must be at the heart of our action. We must bridge the finance gap… and agree on a robust framework for the Global Goal. Let’s put nature, lives, and livelihoods at the core of our national plans. Let’s finally face the issues that are critical to adaptation like water, food, agriculture, and health.
COP28 Presidency unites the world on Loss and Damage
The first major milestone of COP28 was reached on 30 November 2023 with a historic agreement to operationalise the Loss and Damage Fund, whose mandate is to provide financial assistance to developing countries particularly vulnerable to the adverse effects of climate, to support climate change mitigation, and recovery. The initial funding is close to US$429 million. The UAE announced its commitment of US$100 million to the fund. Other countries to make initial commitments to the fund include the United Kingdom ($75 million), United States ($24.5 million), Japan ($10 million) and Germany (also US$100 million).
COP28 talks open in Dubai with breakthrough deal on loss and damage fund
UN Climate Change Executive Secretary at COP28 Opening: "Accelerate Climate Action"
Reports
As greenhouse gas emissions hit new highs, temperature records tumble and climate impacts intensify, this report finds that the world is heading for a temperature rise far above the Paris Agreement goals unless countries deliver more than they have promised. The report is the 14th edition in a series that brings together many of the world’s top climate scientists to look at future trends in greenhouse gas emissions and provide potential solutions to the challenge of global warming. The report calls for all nations to accelerate economy-wide, low-carbon development transformations.
A fair share of climate finance? The adaptation edition - ODI Working Paper
In 2009, developed countries committed to providing $100 billion each year in climate finance by 2020. Despite an urgent need to ramp up financial support for developing countries, the target has yet to be hit. Responsibility for this failure lies on developed nations. But the collective nature of international climate commitments often shields countries with an acute responsibility for missing them. ODI publishes an annual report assessing each developed country’s progress towards paying their ‘fair share’ of the $100 billion target, based on their historical responsibility for cumulative greenhouse gas emissions, gross national income, and population size. This third edition uses the latest 2021 data on international public climate finance flows to evaluate each country’s progress.
Net Zero Roadmap: A Global Pathway to Keep the 1.5°C Goal in Reach, 2023 Update - International Energy Agency
In May 2021, the IEA published its landmark report, “Net Zero Emissions by 2050: A Roadmap for the Global Energy Sector” which set out a narrow but feasible pathway for the global energy sector to contribute to the Paris Agreement’s goal of limiting the rise in global temperatures to 1.5°C above pre-industrial levels. Many changes have taken place since then, notably amid the global energy crisis triggered by Russia’s invasion of Ukraine in February 2022. Carbon dioxide emissions have continued to rise, reaching a new record in 2022. Yet there are also grounds for optimism: the last two years have also seen remarkable progress in developing and deploying some key clean energy technologies. This 2023 update surveys this complex and dynamic landscape and sets out an updated pathway to net zero by 2050.
The Production Gap: Phasing down or phasing up? Top fossil fuel producers plan even more extraction despite climate promises - SEI, Climate Analytics, E3G, IISD, and UNEP
Adaptation Gap Report 2023 - UNEP
Integrity Matters: Net Zero Commitments by businesses, financial institutions, cities and regions - UN
Global Landscape of Climate Finance 2023 - Climate Policy Initiative
Taking Responsibility Towards a Fit-for-Purpose Loss and Damage Fund - UNCTAD
Lagging policy support and rising cost pressures put investment plans for low-emissions hydrogen at risk - International Energy Agency
Global Sustainable Development Report 2023 - Stockholm Environment Institute
Technology and innovation for cleaner and more productive and competitive production - UNCTAD
Civil society
The Dakar Declaration on Climate Change 2023 by the Ministers of the Least Developed Countries
Addressing the Needs of Climate Vulnerable Countries at COP28: A Call to Action from ACT2025
CAN Position: The transition to 100% renewable energy must be just, equitable and rapid
