What’s to Come | COP28

The 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28) is right around the corner, taking place from the 30th of November till the 12th of December in the UAE. A diverse set of stakeholders are to discuss a variety of themes and express the desired outcomes accordingly. Topics covered include, but are not limited to, gender equality, finance, health, agriculture, education, and technology. The stakeholders will gather with one goal in mind; to limit climate change. This is to be achieved through finding ways to limit global warming to 1.5, managing finances, and developing durability. This includes evaluating the current status of the world and its stance on taking action, recognizing our weaknesses and collaborating to find a way to resolve them before 2030.

COP28 Vision

COP28 aims to create a collaboration between stakeholders to achieve sustainability faster and create a high-growth, low-carbon economy in a realistically achievable manner. Keeping the Paris Agreement treaty in perspective, the COP28 strives to achieve the following goals:

 Prioritizing the lives of people and nature

COP28 acknowledges that the Paris Agreement can only be fulfilled by coming up with results that serve elements such as nature, health, agriculture, and relief. This is a vital part of the COP28 vision, as it will focus on aspects such as enabling the vulnerable, protecting the ecosystem, and recognizing food systems that resist climate change. COP28 also encourages stakeholders to get involved in the Risk-informed Early Action Partnership (REAP) and the Early Warnings for All initiative to assist those experiencing serious climate-related difficulties.

Speeding up the transition of energy sources and drastically reducing emissions by 2030.

According to the COP 28 Letter, it is only a matter of time before we will abandon all fossil fuels, creating the need for stronger policies that will lead to this goal in a fair and organized manner, while keeping developing countries in perspective. This should be accompanied with additional non-energy modifications, such taking action against non-CO2 gases and stopping deforestation.

Improving finances and implementing previous, undelivered agreements and reaching new agreements.

To achieve the best results, we ought to strive to make climate action accessible and affordable. At the current rate, it is expected that developing countries will require trillions of US Dollars annually to achieve the vision by 2030. Additionally, based on the agreement reached in COP 26, COP 28 urges developed countries to maintain their progress and continue working on achieving their goal of doubling adaptation finances within the next couple of years.

Facilitating for the most inclusive COP to date

For the first time in COP history, the International Youth Climate Delegate Program (International YCDP) provides a platform for young people to be active participants in COP28, with a focus on youth from climate vulnerable communities, indigenous people, least developed countries (LDCS), and from small island and developing states (SIDS). Additionally, the program includes topics highlighting the transition to gender equality and finances to women.

Voluntary Carbon Markets

The topic of Voluntary Carbon Markets (VCMs)has increasingly received a lot more interest since previous COPs, especially because there are still some concerns about the VCMs that need to be addressed, particularly regarding integrity and quality. COP28 recognizes the current interest in VCMs and understands that resolving these concerns can result in a high financial benefit to the Global South and aid in preserving the environment, in addition to the fact that it will incentivize companies to intensify their efforts to fulfill the goals of the Paris Agreement. For this reason, COP28 formally co-hosts high-level discussions regarding VCMs and prioritizes initiating and boosting high-integrity VCMs. Speakers agreed in these discussions that, due to its significant role in cross-border financing of developing countries and markets that may require it, guaranteeing the VCMs’ high integrity is an urgent matter. They also stated that VCMs play a vital role in financing important themes of interest, such as scaling participation in new climate technologies and the gradual elimination of coal as a source of energy. Local populations and indigenous people were also addressed, as the speakers agreed that it is crucial for them to be the focus and to fully benefit from the project.

COP28 will introduce new elements, increase diversity, support the change, lead the transformation, support vulnerable countries and groups, with gender equality and protecting women and girls remaining a big element of discussion over the years. In COP28, we expect people to be reminded of unfulfilled promises and the importance of committing to them and to see notable progress in the field of VCMs. Collaboratively, participants aim to scale the reduction of emissions, revolutionize the food system, and enhance the use of land. With high expectations and great hopes, we look forward to learning about the outcomes in December.

Meet our team at COP28