SUMMARY of the Article “Ambitious Outcome” by Aisha Khan, Dawn [Published on December 19th, 2023]
The recently concluded Conference of Parties, COP28, in Dubai has yielded historic outcomes, shaping the future of global climate action. Under the UAE COP presidency, the Global Stock-Take (GST) produced significant agreements, marking the first call for action to transition away from fossil fuels. The operationalization and initial capitalization of the Loss and Damage Fund progressed, and record-breaking pledges of $85 billion in climate action were made. COP28 reflects the climate regime’s struggle to address the urgency of climate action and transition into an era of implementation. Despite consensus and incremental gains, COPs signify ongoing negotiations with wins, disappointments, and carried-over loopholes. The success of COP28 will be measured by the delivery of emissions cuts, adaptation action, and finance through the Dubai-Baku-Belem roadmap. The GST sets the stage for accelerated action until 2025, leading to COP29’s central focus on finance. The call for mobilizing financial flows aligns with the Paris Agreement’s Article 2.1c, emphasizing the need to address debt burdens and strengthen resilience. The decision’s seriousness is evident in its follow-up plans, including a two-year dialogue starting at COP29 and a ‘Roadmap to Mission 1.5’ under the guidance of COP28, COP29, and COP30 presidencies. Although lacking detail on transitioning from fossil fuels, the text language raises hopes for significant emissions reductions » Read More…