- Landmark agreement in Dubai, the ‘UAE Consensus,’ calls for a transition away from fossil fuels for net zero by 2050.
- COP28, ending on 14 Dec 2023, is a turning point in global climate change efforts, with 198 participating Parties aiming to limit global warming to 1.5°C.
- COP28 President, Dr. Sultan Al Jaber, emphasizes the historic achievement, highlighting inclusivity across diverse sectors, including private and public sectors, civil society, faith leaders, youth, and indigenous peoples.
- UAE Consensus encourages economy-wide Nationally Determined Contributions, targeting tripling renewables and doubling energy efficiency by 2030.
- COP28’s ‘Action Agenda’ includes bold steps in fast-tracking energy transition, fixing climate finance, focusing on people and nature, and fostering inclusivity, mobilizing an unprecedented $85 billion for climate action.
- Key achievements involve the launch of ALTÉRRA, a $30 billion private finance vehicle by the UAE, the endorsement of the ‘COP28 UAE Declaration on Agriculture, Food, & Climate,’ and the ‘COP28 UAE Declaration on Climate and Health.’
- Global Decarbonisation Accelerator (GDA) introduces initiatives like the Global Renewables and Energy Efficiency Pledge and the Oil and Gas Decarbonisation Charter.
- COP28 delivers historic negotiated outcomes, including operationalization of Loss and Damage, $792 million in early pledges, advancement of the Global Goal on Adaptation (GGA), and institutionalization of the Youth Climate Champion.
- Focus now shifts to implementing agreements at COP29 and COP30, with collaboration agreements signed with Brazil (COP30 host) and efforts with Azerbaijan (COP29 host) for ambitious updated climate plans.
- COP28 sets a precedent for future conferences, providing a blueprint for ambitious and inclusive global climate action.
MCQs
- What is the primary focus of the ‘UAE Consensus’ reached in Dubai at COP28 ?
- a) Transitioning to renewable energy
- b) Achieving net-zero emissions by 2050
- c) Enhancing climate finance
- d) Strengthening global partnerships
- What does COP28 aim to achieve in terms of global warming?
- a) Limiting it to 2°C
- b) Limiting it to 1.5°C
- c) Reducing emissions by 50%
- d) Achieving complete carbon neutrality
