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21
Dec
2023

COP28 AGREEMENT MARKS 'BEGINNING OF THE END' OF THE FOSSIL FUEL ERA

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This is the title of the official COP28 website's summary of the agreements reached at the recently concluded summit, adding that this will be done by "laying the foundations for a rapid, just and equitable transition, backed by deep emission reductions and increased financing".

Without intending to criticise the aforementioned text, we reproduce some of the principles listed in it, which from the preamble recognises the scientifically proven need to limit global warming to 1.5º, that to achieve this, emissions in 2030 must be reduced by 43% by 2030 compared to 2019, and that this means tripling the current renewable generation capacity and doubling energy efficiency.
It is considered essential to help countries strengthen their resilience to the effects of climate change. With this principle adopted on the first day, pledges to establish the fund started pouring in moments after the decision was taken, totalling more than $700 million by the end of the conference. This reflects a global consensus on adaptation goals and the need for finance, technology and capacity building support to achieve them.
The Green Climate Fund (GCF) received a boost in its second replenishment with new pledges from six countries, bringing total pledges to a record $12.8 billion from 31 countries, with further contributions expected.
World leaders have seen at COP28 a consensus in civil society, how business, indigenous peoples, youth and international organisations have a spirit of shared determination to close the commitments made for 2030. Efforts to share ideas and solutions have been made. The critical importance of empowering all stakeholders to engage in climate action is seen, in particular through the Climate Empowerment Action Plan and the Gender Action Plan.
It is important to strengthen collaboration between governments and key stakeholders by working on real-world climate solutions that will halve global emissions, close adaptation gaps and build resilience by 2030. provided a platform for governments, business and civil society to collaborate and showcase their real-world climate solutions. Global Climate Action launched its 2030 roadmap with effective actions to be scaled up and implemented to halve global emissions, close adaptation gaps and build resilience by 2030.
Let us look ahead: COP28 has set the stage for a new era in the implementation of the Paris Agreement. The next two years will be crucial: at COP29 (Adzerbaijan), governments must set a new climate finance target that reflects the scale and urgency of the climate challenge. And at COP30 (Brazil), they must come prepared with new deliverables covering all greenhouse gases, including methane, and implemented from the beginning of 2025, fully aligned with the 1.5°C temperature rise limit.

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COP28 AGREEMENT MARKS 'BEGINNING OF THE END' OF THE FOSSIL FUEL ERA

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