COP28 Summit 2023 Dubai, UAE Key Highlights

Key Highlights of COP28 Summit 2023

The summit was organized around four cross-cutting themes aimed at tackling the causes of climate change and managing the impacts of a warming planet: Technology and Innovation; Inclusion; Frontline Communities and Finance.

The key players at COP28

Indian Prime Minister Narendra Modi, UK Prime Minister Rishi Sunak, German Chancellor Olaf Scholz and French President Emmanuel Macron were some of the global leaders present at the start of the summit. However, US President Joe Biden and China’s Xi Jinping were absent, but both nations had significant representation.

COP28: Significant summit focuses directly on reducing the use of fossil fuels

COP28 President Sultan al-Jaber commended the climate agreement supported by almost 200 countries calling it a “historic package” with a “strong plan” to uphold the 1.5 degrees Celsius target.

• Almost 200 countries have reached an agreement at the COP28 climate summit to begin the reduction of global fossil fuel consumption.

COP28 Dubai Climate Summit Highlights in 10 Points:

1. Historic Fossil Fuel Agreement:

• COP28 concluded with a groundbreaking agreement involving almost 200 countries to initiate the reduction of global fossil fuel consumption. This signifies a major stride towards eventually phasing out the era of oil.

2. Financial Aid for Climate Damage:

• The summit started with the creation of a long-awaited fund intended to help low-income countries cover the costs of damages caused by climate-related events. This initiative addresses a crucial aspect of climate justice.

3. Net Zero Pledges:

• In Dubai, countries came together to achieve a significant milestone with the ‘UAE Consensus,’ which advocates for a shift away from fossil fuels with the goal of reaching net zero emissions by 2050.
• Countries such as Canada and Belgium declared more ambitious net zero targets than previously set, while Dubai committed to a 50% reduction in emissions by 2030.

4. Clean Energy Transition:

• COP28 prioritized accelerating the transition to clean energy sources to significantly reduce greenhouse gas emissions before 2030.

5. Climate Finance Commitments:

• A concentrated effort was made to secure financial support for climate action from wealthier nations to developing countries, including discussions on a new deal for the latter.

6. Nature and People Focus:

• COP28 underscored the importance of concentrating on nature and people, ensuring that climate actions are inclusive and mindful of biodiversity and human well-being.

7. Paris Agreement Progress:

• The summit aimed to advance the goals of the existing Paris Agreement, with a focus on reducing both the consumption and production of fossil fuels in a fair and equitable manner.

8. Global Climate Fund Contributions:

• National governments and organizations announced commitments to climate finance, pledging support to funds like the Green Climate Fund, Adaptation Fund, and others.

9. Carbon Market Rules:

• Building on the outcomes of COP26, COP28 continued refining rules on reporting emissions and international carbon trading, working towards establishing a robust framework for global carbon markets.

10. Inclusivity and Equity:

• The draft text released during COP28 called for reducing reliance on fossil fuels in a manner that is fair, orderly, and equitable. It emphasized the importance of a transition that considers the needs of all countries and communities.

COP29 and COP 30

As COP28 comes to an end, attention turns to the crucial task of implementing and adhering to the agreements at COP29 and COP30.

• On December 11, Azerbaijan and Brazil were officially designated as the hosts for the United Nations’ climate talks in 2024 and 2025, respectively.

COP29 Azerbaijan

• Azerbaijan, whose economy is significantly dependent on oil and gas exports, is slated to host COP29 from November 11 to 22 in 2024.

COP30 Brazil

• Brazil, ranked among the world’s top 10 oil producers will host COP30 in the Amazon from November 10 to 21 in 2025.

India’s Role in COP28:

India’s role at COP28 is crucial as it is a developing nation and a top emitter of greenhouse gases. The key concerns for India at the summit include:

1. Phasing out Fossil Fuels: India is working towards reducing its reliance on fossil fuels.

2. Securing Finance for Renewable Energy Targets: India seeks financial support to achieve its renewable energy targets.

COP Summits in India

The 8th Conference of the Parties (COP 8) to the United Nations Framework Convention on Climate Change (UNFCCC) took place in New Delhi, India, from October 23 to November 1, 2002.

History of COP

The United Nations Framework Convention on Climate Change (UNFCCC), under which the Conference of the Parties (COP) operates, was established in 1992.

• The first COP meeting was held in 1995 in Berlin city of Germany. Since then, the COP meets each year to assess progress in combating climate change.

Table of COP Summits:

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