The United Nations Climate Change Conference COP28 opens with a resounding call to accelerate collective climate action. The conference takes place in what is already known to be the hottest year ever recorded in human history and as the impacts of the climate crisis wreak unprecedented havoc on human life and livelihoods around the world.
COP28 in Dubai, United Arab Emirates (UAE), from 30 November to 12 December 2023, is a decisive moment to act on climate commitments and prevent the worst impacts of climate change. UAE has the presidency for COP28, with Dr Sultan Al Jaber as this year’s president.
This year’s COP marks the conclusion of the “global stocktake”, the first assessment of global progress in implementing the 2015 Paris Agreement. The findings are stark: the world is not on track to limiting temperature rise to 1.5°C by the end of this century. It does recognize that countries are developing plans for a net-zero future, and the shift to clean energy is gathering speed, but it makes clear that the transition is nowhere near fast enough yet to limit warming within the current ambitions.
The global stocktake must be a catalyst for greater ambition in meeting the Paris Agreement’s goals as nations prepare to submit revised national climate action plans by 2025. It lays out actions on how to accelerate emissions cuts, strengthen resilience to climate impacts, and provide the support and finance needed for the transformation.
Climate finance stands at the heart of this transformation. Replenishing the Green Climate Fund, doubling financial resources for adaptation and operationalizing the loss and damage fund are key to keeping 1.5°C within reach while leaving no one behind.
Progress on climate finance at COP28 will be crucial to build trust in other negotiation areas and to lay the groundwork for an even more ambitious “New Collective Quantified Goal” for climate finance, which must be in place next year. It will also set the stage for a just and inclusive transition to renewable energy and the phasing out of fossil fuels.
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