COP28: a climate conference breakthrough - unprecedented inclusivity and impact set new standards for a sustainable climate
World leaders in Rio de Janeiro sensed the danger facing humanity from the climate crisis some 30 years ago, but this sense of danger was not enough at that time, as the Earth Summit, for which they chose an emotional title, was devoid of any commitments and was dominated by multiple wills and divergent interests. However, the good thing was the agreement on the periodicity of holding the summit under the banner of the United Nations. Since then and as past COP editions laid important groundwork, COP28 stands as a watershed moment in the fight against climate change. For the first time in around three decades, the conference yielded concrete and realistic commitments from nations around the world.
This is the first time world leaders, international and non-governmental organisations, and business leaders have agreed on clear and specific outlines to save the planet after marathon discussions that need to go into overtime. Upon ending, the discussions gave birth to ‘The UAE Consensus’, a historic set of measures outlining a solid plan to keep global temperatures below 1.5°C.
UAE’s COP28 scored an early win on the global event’s first day when nations agreed to put into operation the loss and damage fund and triple global renewable energy capacity by 2030. The landmark deal is set to help the world’s poorest and most vulnerable countries pay for the irreversible impacts of climate disaster. On the second day, President His Highness Sheikh Mohamed bin Zayed Al Nahyan announced the launch of ALTÉRRA, a new investment platform aimed at driving private capital towards climate investments and improving access to climate finance in emerging markets. It aims to mobilise $250 billion globally by 2030.
Until December 11, COP28 has mobilised over $83 billion in funding, setting the pace for a new era in climate action. These include the first-ever declarations on food systems transformation and health, plus declarations on renewable energy and efficiency, as well as initiatives to decarbonise heavy-emitting industries. Eleven pledges and declarations have been launched and received historic support. These commitments are characterised by their comprehensiveness and for the first time include food systems, health, renewable energy, and carbon removal.
COP28 served as a powerful testament to the world’s collective commitment to tackling the climate crisis. Through collaboration and shared responsibility, a previously unclear path forward has been illuminated. All nations and peoples have been called upon to do their part in ensuring that the critical goal of limiting global temperature rise to 1.5 degrees Celsius remains within reach.
COP28 embraced a pragmatic approach, prioritising effective and robust policies that achieve carbon neutrality and zero emissions while simultaneously fostering economic growth. This recognises that climate action drives growth and prosperity, and conversely, economic prosperity enables further investment in achieving net-zero emissions. Despite diverse international perspectives and visions on achieving the UN’s carbon neutrality goal and compensating developing nations, COP28’s Presidency successfully delivered a clear message.
For the first time, COP28 officially included health, international parliamentarians, and religious representatives. Additionally, the Inter-Parliamentary Union held its meetings concurrently and on-site, highlighting the shared responsibility between the executive and legislative branches in tackling climate change. The landscape after COP28 is set to shift dramatically.
Notably, a historic climate commitment that recently emerged from China and the United States, to reduce methane and other non-carbon dioxide gases across their entire economies marks a significant step forward in tackling global emissions.
(The writer is a senior journalist, views are personal)
