COP-28

 What is COP28?

COP28 is the 28th annual United Nations (UN) climate meeting, which took place from November 30 to December 12, 2023 in Dubai, United Arab Emirates (UAE). COP stands for the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change. The conference is where governments discuss how to prepare for and limit future climate change.

 Important outcomes of COP28:

Highlights	Description
Loss and Damage (L&D) Fund	COP28 countries agreed to launch the Loss and Damage (L&D) fund, hosted by the World Bank for four years, aligning with UNFCCC and the Paris Agreement. All developing countries are eligible, and contributions are voluntary, with a specific percentage earmarked for Least Developed Countries and Small Island Developing States.
Global Stocktake	COP28 released the fifth iteration of the Global Stocktake (GST), adopting eight steps to limit global temperature rise to 1.5 degrees C. These steps include:
	1.      Tripling renewable energy capacity by 2030 (to at least 11,000 GW by 2030) and collectively double the global energy efficiency improvements from around 2% to over 4% every year until 2030.
	2.      Phase-down of unabated coal power
	3.      Accelerating efforts globally towards net zero by around mid-century
	4.      Accelerating zero and low emissions technologies e.g., Nuclear, CCUS, Hydrogen
	5.      Transitioning away from fossil fuels in energy systems, in a just, orderly and equitable manner, so as to achieve net zero by 2050
	6.      Reducing non-CO2 emissions e.g., methane emissions globally by 2030
	7.      Emissions reductions from road transport
	8.      Phasing out of inefficient fossil fuel subsidies
	The text maintains continuity with COP26, balancing global aspirations while recognizing diverse energy needs
	What is Global Stocktake? Global stocktake is a process for countries to see where they’re collectively making progress towards meeting the goals of the Paris Agreement. As per the Paris Agreement (2015), it was decided that countries would assess their progress for the first time in 2023 and, then, every five years.  It noted that there is a need to cut 43% of GHG emissions by 2030, compared to 2019 levels and countries are off-track in meeting their climate goals.
Global Cooling Pledge	66 national signatories committed to a 68% reduction in cooling-related emissions by 2050
Climate Finance	UNCTAD estimates that developed nations owe developing countries $500 billion in 2025 under the New Collective Quantified Goal (NCQG) for climate finance, confirmed in the Paris Agreement.
	The goal, starting at $100 billion annually, allocates $250 billion for mitigation, $100 billion for adaptation, and $150 billion for loss and damage.
	With the current $100 billion goal unmet, developing countries face debt distress.
Global Goal on Adaptation (GGA) framework	Draft text introduced to enhance climate change adaptation like Climate-Induced Water Scarcity Reduction, Climate-resilient food and Agriculture Production and Strengthening Resilience Against Climate-Related Health Impacts
Triple Nuclear Energy	The text calls to triple global nuclear energy capacity by 2050
Powering Past Coal Alliance (PPCA)	PPCA, a coalition involving governments, businesses, and organizations, focuses on transitioning from unabated coal power to clean energy. At COP28, PPCA welcomed new national and subnational governments, advocating for cleaner energy alternatives. India is not part of PPCA as it has not committed to phasing out of coal.
Coal Transition Accelerator	Introduced for knowledge-sharing and financial support in transitioning from coal.
Coalition for High Ambition Multilevel Partnership (CHAMP)	65 national governments signed commitments for enhanced cooperation with subnational governments in climate strategies.
Buildings Breakthrough Initiative	The goal of the Buildings Breakthrough Initiative is to make near-zero emissions and resilient buildings the new normal by 2030. The initiative is co-led by France and the Kingdom of Morocco, coordinated under the umbrella of UNEP, and hosted by the Global Alliance for Buildings and Construction (Global ABC)

 

COP28 Shortcomings:

• Lacked clear timelines for fossil fuel phase-out
• Ambiguity in the tripling of renewable energy capacity, raising uncertainty
• Absence of specific measurement criteria for the phase-down of coal
• Opposition from countries hindering progress on methane emission cuts including India. India is not a part of the Global Methane Pledge
• Challenges in meeting urgent climate action expectations
• The global adaptation framework adopted lacks financial provisions and requires further development
• With the current $100 billion goal of Climate Finance unmet, developing countries face debt distress
• Loopholes Criticized: Some stakeholders, including the Alliance of Small Island States, criticize the agreement for containing “a litany of loopholes,” challenging its transformative potential.
• Compromise on Absolute Phase-Out: The absence of language mandating an absolute phase-out of hydrocarbons underscores the challenging negotiations and compromises made to secure the agreement.
• Call for Greater Ambition: Climate leaders like Manuel Pulgar-Vidal stress the need for enhanced ambition and implementation to limit global warming effectively.

 

Azerbaijan and Brazil will host COP29 (2024) and COP30 (2025), respectively

India’s Stance:

India expressed dissatisfaction, particularly opposing methane emission mandates. India highlights the necessity of using coal for developmental needs and emphasizes adherence to nationally determined contributions (NDCs).

 

Initiatives India opposes for climate action:

1. Coal phase-out: Despite commitments to expand non-fossil fuel and renewable energy, India stands firm on not phasing out coal-generated electricity in the near term.
2. Global Methane Pledge: Because of worries about the potential effects on agriculture and the supply of electricity, the nation has continuously opposed international initiatives of the Global Methane Pledge.
3. Global Renewables and Energy Efficiency Pledge: India did not join the “Global Renewables and Energy Efficiency Pledge” at COP28, emphasizing its own climate equity concept that addresses unequal burdens on nations.
4. Loss and Damage Fund: Citing historical responsibility and objecting to the World Bank’s temporary management of the fund, China and India both refuse to contribute to the Loss and Damage Fund.

 

India’s climate action initiatives during the COP28 summit:

1. Global River Cities Alliance (GRCA): led by the National Mission for Clean Ganga (NMCG) under the Ministry of Jal Shakti, was launched at COP28.
   1. It is a unique alliance covering 275+ global river cities in 11 countries, international funding agencies and knowledge management partners and is the first of its kind in the world.
   2. The launch of GRCA signifies a momentous step in global efforts toward river conservation and sustainable water management.
2. Green Credit Initiative: The Initiative aims to create a global trade forum facilitating the exchange of innovative environmental programmes and instruments.
   1. The Green Credit Initiative, launched at COP28, aligns with Mission LIFE which aims to minimize per capita carbon footprint by promoting mindful utilisation instead of wasteful consumption.
3. LeadIT 2.0: launched at COP 28, focuses on co-development and transfer of low-carbon technology and financial assistance to emerging economies.
4. Green Development Pact: it provides pathways for nations in their journey towards achieving energy, climate, environment and disaster resilience-related objectives.
   2030. Green Development Pact includes key ambitions such as tripling of global renewable capacity by 2030.

Conclusion:

 Developing nations urge wealthy countries to attain negative carbon emissions, not just reach net zero by 2050. They assert that affluent nations, having used over 80% of the global carbon budget, should grant developing nations their equitable portion of future emissions. Emphasis is placed on the principles of common but differentiated responsibilities and respective capabilities (CBDR–RC) in the fight against climate change.

Also, experts advocate for global financial architecture reform to address structural issues and support sustainable development.