COP28: What’s on the Agenda?

BENGALURU, November 26, 2023 – The 2023 UN Climate Change Conference (COP28), which convenes from 30 November to 12 December 2023 at Expo City, Dubai in the United Arab Emirates (UAE), is expected to raise the temperature (pun intended) in the coming days while discussing key climate issues.

How far will parties be able to negotiate the specifics (financing quality, timing, instruments, sources, access, etc.) of the new climate finance target and create some groundwork for its formation in 2024 is a moot question as nations prepare for COP28.

Another crucial question is whether wealthy nations will fulfill their promise to give $100 billion to developing nations yearly by 2023, and if so, whether they will be speeding their pledges to make up for previous years’ loss.

Four paradigm shifts will be visible in the next few days:

Putting nature, people, lives, and livelihoods at the center of climate action;

Accelerating the energy transition and cutting emissions before 2030;

Changing climate finance by fulfilling past commitments and establishing the framework for a new financial agreement; and

Organizing for the most inclusive COP ever

Furthermore, with Dr. Sultan Ahmed Al Jaber taking on the roles of UAE Special Envoy for Climate Change, Minister of Industry and Advanced Technology, and President-Designate for the COP28, the UAE’s position as the upcoming presidency becomes even more significant.

Heads of state, public servants, business executives, scholars, and representatives of civil society organizations are among the approximately 70,000 attendees who are anticipated at the conference.

There are a few contentious issues that will take center stage.

First, should fossil fuels be “phased out” or “phased down”?

Nations at risk from climate change are demanding that fossil fuels be phased out. Some, most notably powerful oil companies, are, however, advocating for a phase-down that would permit the use of fossil fuels indefinitely as long as the greenhouse gases they produce are captured.

Second, to what extent should the funds for loss and damage be contributed?

During the COP27 conference, countries decided to establish a fund to cover losses and damages caused by climate impacts. Countries at COP28 will talk about possible funding sources, which is a contentious topic because it may be interpreted as admitting responsibility for climate change.

Third, what portion of developed countries’ climate funds should go to developing nations?

Developed nations committed to allocating US$100 billion a year until 2025 to assist developing nations in addressing climate change. This goal has not been accomplished. Considering the requirements and priorities of developing nations, it is anticipated that countries will carry on their discussions about the post-2025 quantum.

Fourth, how important would the results of the Global Stocktake be in terms of politics?

A summary report on the Global Stocktake’s technical phase published in September came to the conclusion that the world was not on track to meet the climate agreement’s objectives. Will the countries, however, firmly support the findings, or will their importance be diminished?

Five, how does nature help combat climate change?

Many countries agreed to curb and reverse deforestation at COP28. At COP27, nature-based solutions were mentioned in the cover decision texts for the first time. At COP28, there will probably be more discussion on how nature can help mitigate climate change.

Sixth, what kind of worldwide objective might there be for climate adaptation?

While reducing global warming is an easy task, adapting to changing conditions is more challenging because it depends more on the specific circumstances. International cooperation in the area of adaptation will be required, along with quantifiable objectives and indicators that can be monitored, evaluated, and reported on a regular basis.