The second day of the World Leaders Summit at COP28 in Dubai saw several significant developments [858520b8]. The United States made a commitment to achieve a low-carbon power sector by 2035, and the Biden-Harris Administration pledged $3 billion to the Green Climate Fund [858520b8]. These actions demonstrate the US government's determination to address climate change and support global efforts to mitigate its impacts [858520b8].
The fourth annual US Climate Action Summit was held in Washington, DC on April 22 [f9ffe61c]. More than 260 influential leaders in climate action from business, government, and the nonprofit sector gathered to discuss pressing climate issues and commit to tangible progress [f9ffe61c]. The Leaders' Forum featured conversations and panels on topics such as public and private synergy and thinking globally and acting locally [f9ffe61c]. John Podesta, Senior Advisor to the President for International Climate Policy, emphasized the need for fast deployment of climate solutions to power the US and global economies [f9ffe61c]. Other speakers highlighted the importance of completing commitments to deploy electric vehicles and solar panels, creating green jobs, and training people for careers in the green energy sector [f9ffe61c]. The summit also included roundtables, panels, and workshops focused on implementing climate action through partnerships and tangible solutions [f9ffe61c]. The event showcased innovation, the importance of communication, and the intersection of climate and health [f9ffe61c]. The IRA (Inflation Reduction Act) was highlighted as an opportunity for historic levels of progress in climate action [f9ffe61c].
The COP28 UAE Declaration on Climate and Health was also unveiled during the summit. This declaration aims to accelerate actions to protect people's health from the impacts of climate change [858520b8]. It highlights the urgent need for comprehensive and coordinated efforts to address the health risks associated with climate change [858520b8].
Furthermore, a new Oil and Gas Decarbonisation Charter was signed by 50 companies [858520b8]. While this is a positive step towards reducing emissions in the oil and gas sector, some NGOs raised concerns about the lack of mention of indirect emissions [858520b8]. It is crucial to address both direct and indirect emissions to effectively decarbonize the industry [858520b8].
Another significant development was the launch of a global database for corporate net-zero targets [858520b8]. This database will provide transparency and accountability in tracking the progress of companies towards their net-zero goals [858520b8]. It will help identify leaders and laggards in corporate climate action and encourage greater ambition [858520b8].
In addition, forest carbon deals were announced between Costa Rica and Ghana [858520b8]. These agreements aim to protect and restore forests, which play a crucial role in mitigating climate change by absorbing carbon dioxide from the atmosphere [858520b8]. Such partnerships between countries are essential for global efforts to combat deforestation and promote sustainable land use [858520b8].
Barbados' Prime Minister also advocated for polluting industries to contribute to the loss and damage fund [858520b8]. This fund is intended to support countries that have suffered irreparable damage from climate change impacts [858520b8]. By holding polluting industries accountable, it is possible to provide financial assistance to affected nations and address the injustices caused by climate change [858520b8].
These developments at the World Leaders Summit and the US Climate Action Summit demonstrate the commitment of global leaders to address climate change and accelerate climate action. The discussions and agreements reached during COP28 in Dubai and the US Climate Action Summit in Washington, DC will play a crucial role in shaping the future of global climate policy and determining the success of efforts to mitigate and adapt to climate change [858520b8] [f9ffe61c].