Reflecting on Sustainability after COP28

Climate change events are on a tremendous rise. This year’s United Nations Climate Change Conference (COP28) has left an indelible mark on the global pursuit of sustainability, signalling a paradigm shift in our approach to combating climate change. The resounding message is clear: it is indeed the "beginning of the end" of the fossil fuel era.?

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The event laid the foundation stone for a swift, just, and equitable transition supported by more finance and greater emissions cuts.

As sustainability experts, let us delve into the key takeaways and chart the course for a greener, more sustainable future.

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At the heart of COP28 lies the global stocktake, a forward-thinking initiative acknowledging the urgency of the climate crisis. While the Paris Agreement set the stage, subsequent COPs including the recent one, aimed at making plans more ambitious and concrete. The agreement calls for a bold 43% reduction in global greenhouse gas emissions by 2030. It emphasises the immediate and substantial need for climate action. Countries now face the task of developing enhanced climate action plans by 2025, aligning with the 1.5°C temperature limit .?

The crucial question arises: how will nations translate these commitments into tangible, sustainable outcomes?

Governments are urged to craft comprehensive, economy-wide emission reduction targets covering all sectors. The focus should be on renewable energy expansion, doubling energy efficiency, and phasing out coal power in a fair manner. COP28 serves not just as a milestone but as a launchpad for sustained, impactful action.?

Moreover, COP28 showcased the power of collaboration, bringing together governments, civil society, businesses, indigenous peoples, youth, and international organisations. The participation of over 160 member nations, including major economies, underscores the importance of global cooperation.?

A dedicated fund under the UNFCCC was established, with commitments exceeding USD 600 million to date . This funding is crucial for supporting vulnerable countries and communities already experiencing the adverse impacts of climate change.

In addition to financial commitments, the establishment of the Santiago network for loss and damage is also a key development. This network aims to provide technical assistance to developing countries vulnerable to the effects of climate change.

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COP28 witnessed a major step forward in efforts to strengthen global resilience with the agreement on targets for the Global Goal on Adaptation (GGA) and its framework. The GGA framework covers essential themes such as water, food, health, ecosystems, infrastructure, poverty eradication, and cultural heritage. Unlike previous practices, the framework reflects a future orientation and emphasises aspiration and ambition in adaptation planning.?

However, the two major issues that dominated discussions at COP28 were the debate over "phasing out" or "phasing down" fossil fuels and the establishment of a "loss and damage" fund. The need to shift rapidly away from all forms of fossil fuels gained prominence and focused on the crucial role of nations in this transition. The "loss and damage" fund designed to address the disproportionate effects faced by vulnerable countries represents a critical step in acknowledging global responsibility. This shift poses challenges for heavily coal-dependent countries like India and China. However, it also reflects a collective acknowledgment of the need to address the impacts of coal on climate change.

The summit also made progress on the new collective quantified goal (NCQG) and the $100 billion target for climate finance. COP28's commitment to drafting a post-2025 finance target is a positive step. This step stresses on the ongoing financial support required for climate mitigation and adaptation initiatives in developing nations. Detailed financing expectations need to be clarified at COP29 for effective implementation.

COP28's support for strategies to adapt to climate change impacts. These strategies include the unveiling of the 2030 Climate Solutions implementation roadmap operating under the Marrakech Partnership for Global Climate Action. The High-Level Champions launched the implementation roadmap for 2030 Climate Solutions. This initiative focuses on effective measures to halve global emissions, address adaptation gaps, and increase resilience by 2030.

Several other major announcements were made. These announcements include the UAE Climate and Health Declaration, commitments to sustainable agriculture and resilient food systems, and support for the Methane Finance Sprint to reduce methane emissions. Nature-based solutions gained recognition, acknowledging the key role of nature and biodiversity in mitigating climate change and protecting vulnerable communities. COP28 also emphasised commitments such as protecting 30% of the planet's land and oceans for nature by 2030 in alignment with the Kunming-Montreal Global Biodiversity Framework.

COP29 in Azerbaijan and COP30 in Brazil will play pivotal roles in establishing new climate finance goals. The next two years emerge as a critical biennium as COP29 demands a fresh climate finance goal and COP30 beckons governments to present comprehensive, nationally determined contributions. As sustainability experts, our guidance becomes instrumental in ensuring these commitments align with the 1.5°C temperature limit. What does the future hold for us??

The crucial question for the planet is what happens next. There is a history at UN climate talks of countries unhappy with an outcome in one year trying to unpick it the next. It is often a case of one step forward then two back.

Next year promises to be especially challenging. The hosting has gone to Azerbaijan, a petrostate, 90% of whose export revenues and 60% of whose national budget comes from oil and gas. UAE wanted a successful UN climate summit, a triumph on the world stage. What the Azeri government wants from a Baku COP may be quite different.

Whatever happens, countries cannot afford to wait for COPs to produce enough progress to end the fossil fuel era. It is not just our production but our use of coal, oil and gas that must fall. Unless governments, businesses and individuals choose to move away from fossil fuels, and that is made a timely, funded and fair choice for all, robust demand will keep the fossil fuel industry afloat. Meanwhile, the clock ticks down and emissions continue their upward march.

Conclusion

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The closure of COP28 in Dubai signals not just an end but a new beginning in our global pursuit of sustainability. The road ahead is paved with ambitious targets, collaborative efforts, and financial commitments. As sustainability experts, our role is paramount in guiding nations towards a greener and more resilient future.

COP29 focuses on meeting the goals of the landmark Paris Agreement. However, many countries were frustrated owing to the lack of a clear call for a fossil-fuel “phase-out” and other loopholes.

COP29 made some significant commitments, however, developing countries did not see new financial commitments to help them make the shift away from fossil fuels and adapt to climate change effects.

More concrete steps are needed in future summits to ensure that we are not just thinking but doing our bit to combat climate change.