As the Conference of Parties (COP28) begins in Dubai next week, many are wondering what the big issues are for the hundreds of stakeholders who will be attending the annual event.
While every issue is important, climate experts opine that the following issues would take the front burner:
Global Stocktake
The first Global Stocktake is set to be concluded at COP28 in Dubai. This process is aimed at assessing countries’ progress toward achieving the goals of the Paris Agreement. This is a good area to watch, to see how countries have performed and what they’ll commit to adding to their 2025 NDC targets.
Renewable Energy
At COP28, countries will also be looking to commit to at least triple renewable energy capacity to 1,500 gigawatts (GW) by 2030. More than 60 countries have already agreed to the deal. Something to watch there, because these countries hope to call for its inclusion in the outcome of the gathering of world leaders. Also, look out for how this can reduce fossil fuel use in the energy sector and importantly, the measures that will be put in place to ensure this low-carbon transition leaves no one behind.
Adaptation Finance
Developing countries only received $29 billion in international adaptation finance in 2020, meanwhile, they need $340 billion annually by 2030 to adapt to the impacts of climate change. The recently released adaptation gap report showed progress on adaptation has slowed down across different areas, including finance and implementation. This is a good area to watch to see how developed countries respond to the barriers to adaptation that impede implementation.
Loss and Damage Fund
This is also a very important area to watch at COP28 to see how countries progress on its operationalisation. Also, some pledges have already been made as the European Union said it will make a ‘substantial’ financial contribution to the fund. Important to check that it’s not old pledges being rechristened and pushed into new places.
Health
At this year’s conference, there will be a dedicated health day for the first time. Will be great to watch what will be contained in the climate and health declaration to be released at COP28. There have been reports that the draft omits reference to fossil fuels and their health detriments. This could change before or during the conference, so keep an eye out for what’s added and what’s missing.
Past Pledges
While we watch for new pledges, it will be important to look into the ones made in previous years like the $100bn pledge; the move towards fossil fuel phase-out; and the pledges to end deforestation amongst others.
