Nations at COP28 Reach Landmark ‘UAE Consensus’ for a transition away from fossil fuels for net zero by 2050
14/12/2023
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?
