Delegates from nearly 200 countries are gathering in Dubai for the 28th meeting of the Conference of the Parties (COP28) climate summit. The summit aims to address the falling behind of targets set in the Paris Agreement to limit global temperature rise to 1.5 degrees Celsius. The Global Stocktake, a two-year process that informs greenhouse gas reductions, will be a key focus. The current reductions and commitments are not consistent with the Paris Agreement's goals. The talks will also address the slow commitment of sub-national governments, such as cities and states, to the Paris Agreement. The next Nationally Determined Contributions (NDC) updates are due in 2025 and must include short-term targets for reducing greenhouse gas emissions.
The summit will also prioritize the phase-out of fossil fuels and the acceleration of renewable energy deployment. The International Energy Agency has called widespread carbon capture an 'illusion' and emphasized the need for the fossil fuel industry to shift to clean energy. The COP's incoming president, Sultan al-Jaber, who is also the CEO of the UAE's national oil company, has faced scrutiny over his ability to be an honest broker of a climate deal. The EU, US, and UAE have rallied support for a deal to triple global renewable energy installed by 2030, but China and India are not fully on board yet.
In addition to addressing climate targets, the conference will also focus on scaling up climate finance, particularly for the Global South, and addressing the energy crisis and inequality. The establishment of a climate damage fund to help countries that have already suffered irreparable damage from climate change impacts will also be discussed. Wealthy nations are expected to announce contributions to the fund, with the EU and US already committing to contribute. The conference will launch discussions on international divisions over the best way to combat global warming.
Ursula von der Leyen, President of the European Commission, addressed the COP28 Presidency Global Stocktake and emphasized the importance of implementation, particularly in the areas of finance and partnerships. She highlighted the European Union's commitment to climate finance, including meeting the '100 billion' target and doubling finance for adaptation. Von der Leyen also called for new sources of revenue, such as new levies and the expansion of the green bond market. She emphasized the need to move from billions to trillions in climate finance. Additionally, she discussed the importance of partnerships and clean tech investments through Europe's Global Gateway program. Von der Leyen stated that developing countries are a crucial part of the solution and that investing in clean energy creates economic opportunities and strengthens supply chains.
King Charles has called for 'genuine' climate action at the 28th Conference of the Parties (COP28). He emphasized the need for urgent and ambitious measures to address the climate crisis. The King highlighted the importance of collaboration between governments, businesses, and civil society to achieve meaningful progress. He also stressed the need to prioritize the well-being of future generations and protect the planet's biodiversity. King Charles expressed his hope that COP28 would result in concrete actions and commitments to reduce greenhouse gas emissions and transition to a sustainable and low-carbon economy.
President Samia Suluhu Hassan of Tanzania delivered a speech at COP28, urging global leaders to implement unfulfilled promises, including financing for climate restoration. She highlighted the unfulfilled promises of the Copenhagen climate agreement and the Paris Agreement, emphasizing the need for urgent commitment to cool down global warming. President Samia stated that climate change has resulted in a 2-3% reduction in Tanzania's GDP and called for support in advocating for clean cooking energy. She also hosted high-level side events on clean cooking energy, sustainable agriculture, and the blue economy. The conference, themed 'Unite, Act and Deliver,' aims to fast-track the transition to clean energy and catalyze climate financing.
African business leaders will play a significant role in galvanizing progress at COP28. The African Business Leaders Coalition is committed to fulfilling climate commitments and driving climate action. Airtel Africa, a telecommunications company, is also committed to reducing emissions and engaging in environmental stewardship. Public-private cooperation is critical for climate action, and COP28 will provide a platform for collaboration and partnership. The conference will focus on climate finance, clean technology, and the role of public-private partnerships in achieving climate goals. The African Business Leaders Coalition and Airtel Africa are examples of African companies taking proactive steps towards sustainability and contributing to the global fight against climate change.
The COP28 Presidency and the World Health Organisation (WHO) have announced the 'COP28 UAE Declaration on Climate and Health' to protect people's health from climate impacts. The Declaration, signed by 123 countries, recognizes the need to prepare healthcare systems for climate-related health impacts such as extreme heat, air pollution, and infectious diseases. The Declaration was developed with the support of several countries and marks a significant step in acknowledging health as a crucial element of climate action. The COP28 Presidency and WHO have also unveiled ten principles to enhance financing for climate and health solutions. Over 40 financing partners and civil society organizations have endorsed the COP28 Guiding Principles for Financing Climate and Health Solutions. Additionally, stakeholders have committed to dedicating $1 billion to address the climate health crisis. The COP28 Presidency emphasizes the importance of decarbonizing energy systems to reduce emissions by at least 43% over the next seven years. COP28's Health Day will feature the first-ever climate and health Ministerial, bringing together health ministers and senior health delegations from over 100 countries. The COP28 Presidency will also convene climate and global health financiers, development banks, countries, philanthropies, and the private sector to address country priorities and scale up finance interventions for human health.
The COP28 summit presents an opportunity for countries and businesses to come together and find common ground on climate action. The outcome of COP28 remains to be seen, but there is a call for optimism and unwavering resolve.