Mains Marathon 2024

Approach Give a brief introduction to the Conference of the Parties (COPs). Identify the key outcomes of COP28. Discuss the major concerns associated with the outcomes of COP 28. Suggest Way Forward. Conclude Suitably.

Introduction

Conference of the Parties (COPs) are gatherings held within the framework of the United Nations Framework Convention on Climate Change (UNFCCC), a multinational treaty established in 1992.Recently, the 28th Conference of Parties (COP-28) took place in Dubai, UAE, with representatives from 197 countries presenting their initiatives to curb global warming and engaging in discussions on future climate actions.

Body

The Key Outcomes of COP 28 (2023) :

• Transitioning Away from Fossil Fuels :
  • COP28 calls for transitioning away from fossil fuels in energy systems, in a just, orderly, and equitable manner, accelerating action in this critical decade, to achieve net zero by 2050.
• Global Goal on Adaptation (GGA):
  • Global adaptation goal focuses on enhancing adaptive capabilities, and minimizing vulnerability for sustainable development.
  • It calls for a doubling in adaptation finance and plans for assessments and monitoring of adaptation needs in the coming years.
  • Positively, an explicit 2030 date has been integrated into the text for targets on water security, ecosystem restoration, and health.
• Climate Finance:
  • The United Nations Conference on Trade and Development (UNCTAD) estimates that wealthy nations owe developing countries USD 500 billion in 2025 under the New Collective Quantified Goal (NCQG) for climate finance.
  • The goal is to set a new collective quantified goal before 2025. The goal will start from a floor of USD 100 billion per year.
  • This includes USD 250 billion for mitigation, USD 100 billion for adaptation, and USD 150 billion for loss and damage.
• Global Stocktake Text:
  • The Global Stocktake (GST) is a periodic review mechanism established under the Paris Agreement in 2015.
  • The text proposes eight steps to keep the global temperature rise within the ambit of 1.5 degrees Celsius.
  • It calls for tripling renewable energy capacity globally and doubling the global average annual rate of energy efficiency improvements by 2030.
  • It calls for substantially reducing non-CO2 emissions, including, in particular, methane emissions globally by 2030.
• Loss and Damage Fund :
  • Member countries reached an agreement to operationalize the Loss and Damage (L&D) fund aimed at compensating countries grappling with climate change impacts.
  • A specific percentage is earmarked for Least Developed Countries and Small Island Developing States.
  • The World Bank will oversee the loss and damage fund in the beginning.
• Global Renewables and Energy Efficiency Pledge:
  • The Pledge stipulates that signatories commit to work together to triple the world’s installed renewable energy generation capacity to at least 11,000 GW by 2030.
  • It also calls for collectively double the global average annual rate of energy efficiency improvements from around 2% to over 4% every year until 2030.
• The Global Cooling Pledge for COP 28:
  • It includes 66 national government signatories committed to working together to reduce cooling-related emissions across all sectors by at least 68% globally relative to 2022 levels by 2050.
• Declaration to Triple Nuclear Energy:
  • The declaration launched at COP28 aims to triple global nuclear energy capacity by 2050.

Major Engagements of India in COP 28 :

• Green Credit Initiative: The Green Credit Initiative has been conceptualized as a mechanism to incentivize voluntary pro-planet actions, as an effective response to the challenge of climate change.
  • It envisions the issue of Green Credits for plantations on waste/degraded lands and river catchment areas, to rejuvenate and revive natural ecosystems.
• Phase II of the Leadership Group for Industry Transition (LeadIT 2.0): It will focus on inclusive & just industry transition, co-development and transfer of low-carbon technology, and financial support to emerging economies for industry transition.
• Global River Cities Alliance (GRCA):It was launched at COP 28, led by the National Mission for Clean Ganga (NMCG) under the Ministry of Jal Shakti, Government of India.
  • GRCA highlights India's role in sustainable river-centric development and climate resilience.

Key Concerns Not Addressed Properly :

• No Specific Timelines for Fossil Fuel Phase-out:
  • The agreement lacked a clear and urgent plan for fossil fuel phase-out, using vague language such as "transitioning away" without specific timelines or targets.
• No Specified Targets on Tripling of Global Renewable Energy:
  • The COP28 agreement calls upon countries to contribute to tripling global installed capacity of renewable energy and doubling of annual improvements in energy efficiency.
  • Tripling is a global target, and it is not incumbent on every country to individually triple its current installed capacity. It is thus not clear how this tripling would be ensured.
• No Clear Mechanisms for Achieving Adaptation Goals:
  • Developing countries made it clear that the adaptation draft fell well below their expectations. There is no mention of how these objectives are to be realized or the mechanisms that will fund these efforts.
• Lack of Accountability on Financial Commitments:
  • There is currently no established mechanism to hold governments and institutions accountable for fulfilling their climate financing commitments.
• Varying Interpretations on Climate Finance:
  • Data on climate finance flows are compiled using various methodologies and have varying interpretations.
  • Double counting of climate finance can occur when the same funds are reported by multiple parties, leading to an overestimation of the actual financial flows.

Way Forward

• Commit to Climate Finance Targets :
  • All bilateral donors must live up to their climate finance commitments and set more ambitious targets.
  • The need for integrating climate finance into national development plans and policies is even greater than before.
• Clear Roadmaps and Timelines:
  • Develop clear and detailed roadmaps with specific timelines for achieving key milestones and targets.
  • Establish interim goals that contribute to the overall long-term objectives, fostering a sense of accountability.
• Enhanced National Action Plans (NDCs):
  • Countries should revise and strengthen their Nationally Determined Contributions (NDCs) to reflect more ambitious and concrete climate action targets.
  • NDCs should cover a wide range of sectors, including energy, transportation, agriculture, and industry.
• Legislation and Policy Support:
  • Enact and strengthen domestic legislation and policies that support the implementation of climate targets.
  • Integrate climate considerations into existing laws and regulations across various sectors.
• Capacity Building:
  • Invest in capacity building at local, national, and international levels to enhance the ability to implement climate actions effectively.
  • Provide training and resources to support technological, financial, and institutional capacity.
• International Cooperation:
  • Facilitate the transfer of climate-friendly technologies, especially from developed to developing countries.
  • Share experiences, lessons learned, and best practices among countries to accelerate the adoption of environmentally friendly solutions across industries.

Conclusion

COPs are crucial in the battle against climate change but the road ahead is both challenging and promising. Its success requires collective determination, unwavering commitment, and a recognition that the stakes are high. By embracing determined contributions and forging genuine partnerships, the global community can build a sustainable and resilient future.