"COP 28: A Turning Point in Global Climate Action"

• Background: The World Meteorological Organization (WMO) recently confirmed that the past eight years have been the warmest on record, emphasizing the ongoing trend of global warming. Additionally, early data suggests that on 17th November, average global temperatures exceeded pre-industrial levels by more than 2°C for the first time ever. This milestone serves as a powerful reminder of the alarming temperatures the world is experiencing this year.

If we continue on this current trajectory, the future looks grim. According to data, by 2050, approximately 90% of soils may become degraded, resulting in a decline in crop yields ranging from 3% to 12%. Consequently, there is a predicted 20% increase in the risk of hunger and malnutrition. The Intergovernmental Panel on Climate Change (IPCC) warns that if we stick with a 'business-as-usual' approach, global average temperatures could rise by as much as 4.4°C above pre-industrial levels by 2100. This level of heating could lead to a 20% increase in the occurrence of severe category 4 and 5 tropical cyclones.

These forecasts highlight the urgent need for action to mitigate and adapt to climate change. The consequences of inaction are dire, with soil degradation, declining crop yields, increased hunger, and the intensification of extreme weather events becoming more prevalent. It is crucial for policymakers, governments, and individuals to take immediate steps towards reducing greenhouse gas emissions, transitioning to renewable energy sources, and implementing sustainable agricultural practices. Only through concerted efforts can we hope to prevent the worst-case scenarios outlined by the scientific community and safeguard the future of our planet.

• The recently concluded COP 28 has set the stage for a transformative shift in global climate action, with several landmark decisions and commitments that are poised to shape the future of environmental sustainability. The conference, which brought together a diverse array of stakeholders, has yielded significant outcomes that signal a collective determination to address the pressing challenges of climate change.

1. Global Climate Stocktake: Following the global stocktake review at COP 28, countries are mandated to submit heightened emissions reduction targets by mid-2025, paving the way for critical decisions at COP 30. This stocktake is poised to serve as a guiding framework for future climate action, underscoring the imperative of ambitious and coordinated efforts to mitigate climate impact.
2. Operationalization of Loss and Damage Fund: The operationalization of the Loss and Damage Fund represents a pivotal step towards ensuring climate justice for developing and underdeveloped nations that have borne the brunt of extensive loss and damage due to climate change. This initiative underscores a commitment to addressing the disproportionate impact of environmental crises on vulnerable communities.
3. Acknowledgment of Fossil Fuel's Role in Climate Change: COP 28 marked a historic milestone with the formal recognition of the role of fossil fuels in driving global warming. This watershed moment signifies a paradigm shift towards phasing out fossil fuel usage, acknowledging their significant contribution to greenhouse gas emissions and carbon dioxide levels.
4. Phase-Down of Coal: The COP 28 document specifically targets coal for phase-down, signaling a concerted effort to transition away from this highly polluting fossil fuel and embrace cleaner, sustainable energy alternatives.
5. Emission Reduction with Enhanced Focus on Renewable Energy: The adoption of the Global Renewables and Energy Efficiency Pledge at COP 28 holds immense promise, with the potential to avert a staggering 7 billion tones of carbon dioxide equivalent emissions by 2030. This ambitious commitment underscores the pivotal role of renewable energy in driving substantial emission reductions on a global scale.
6. Increased Focus on Adaptation: COP 28 has catalyzed a shift towards common adaptation goals that transcend local efforts, emphasizing the global significance of proactive adaptation measures in the face of climate change-induced challenges.
7. Need for Enhanced Climate Finance: The imperative for bolstered climate finance to address the far-reaching consequences of climate change was a central theme at COP 28. The call for enhanced financial support, as underscored by the UNCTAD report, highlights the substantial obligations of affluent nations towards climate finance for developing countries.
8. Diverse Participation: The inclusive participation of diverse stakeholders, including activist groups, indigenous communities, businesses, consultancies, traders, and media, has enriched the transparency and inclusivity of climate change negotiations, reflecting a broad-based commitment to driving meaningful change.

COP 28 has undoubtedly set a new trajectory for global climate action, underpinned by a collective resolve to confront the multifaceted challenges of climate change and chart a sustainable path forward for the planet.

• COP 28: A Missed Opportunity for Meaningful Climate Action

While COP 28 resulted in some progress on issues like fossil fuel acknowledgment and renewable energy pledges, it failed to deliver on many fronts where bolder action is urgently needed.

1. Lack of Binding Commitments: Despite various pledges and goals outlined, COP 28 stopped short of launching legally binding agreements to reduce emissions and phase out fossil fuels within clear timelines.
2. Fossil Fuel Phase Out Plan Missing: The fossil fuel pledge lacked specifics on phase out schedules and emission reduction targets for different countries.
3. Renewable Energy Targets Not Operationalized: While tripling renewables by 2030 is ambitious, the pledge lacked clarity on implementation through verifiable country-level commitments.
4. Impasse on Coal Phase Down: No consensus was reached on restricting new coal power without carbon capture and storage.

5/6) Disagreements on Methane Cuts and Climate Finance: Developing countries resisted binding methane emission cuts due to food security concerns. Financing pledges also fell short.

1. Principles of Equity and Responsibility Absent: Key concepts like CBDR and polluter pays were missing from the final draft.

• Realizing COP 28 Goals: Priority Actions for Countries

While COP 28 established ambitious global targets, robust implementation will be critical to realize its vision. Here are some priority actions nations should focus on:

1. Establishing Metrics - Tangible indicators need to be developed to monitor progress on renewable energy, finance and other pledges. This will promote transparency and accountability.
2. Financing Mechanism - The $500 billion estimated by UNCTAD must be secured through binding financial commitments. Developed countries must meet their fair share of obligations.
3. Legally Binding Renewable Targets - Pledges to triple renewables require verifiable, mandatory targets for each country to facilitate coordinated action.
4. Fossil Fuel Phase Out Plan - Future COPs must delineate clear timelines and benchmarks to phase down coal, oil and gas usage worldwide.
5. Upholding Equity Principles - CBDR must continue guiding negotiations to ensure the burdens and responsibilities of climate action are distributed fairly.