1. Home
  2. Blog
  3. UPSC

COP28 – The UAE Consensus


Why is it in the news?

  • The 28th Conference of Parties (COP28) to the United Nations Framework Convention on Climate Change concluded with agreement named The UAE Consensus.

About the UAE Consensus

  • Reflects COP28 Presidency’s goal for an ambitious response to the Global Stocktake and aligns with Paris Agreement aims.
  • Ambitious climate agenda to keep 1.5°C within reach.
  • Calls for transitioning away from fossil fuels, aiming for net-zero by 2050.
  • Encourages economy-wide Nationally Determined Contributions (NDCs).
  • Sets a specific target to triple renewables and double energy efficiency by 2030.
  • Focus on a new architecture for climate finance.

Other Outcomes of COP28

  • Operationalized Loss and Damage fund with $792 million in early pledges.
  • Framework for the Global Goal on Adaptation (GGA).
  • Institutionalized the role of Youth Climate Champion for youth inclusion at future COPs.
  • Powering Past Coal Alliance gained over 10 new members, including the US and the UAE.
  • More than 20 countries, led by the US, called for tripling the world’s nuclear energy capacity by 2050.
  • COP28 Action Agenda:

 

·       ‘Action Agenda’ with four pillars:

·       Fast-tracking a just and orderly energy transition.

·       Fixing climate finance for availability, affordability, and accessibility.

·       Focusing on people, nature, lives, and livelihoods.

·       Fostering full inclusivity in climate action.

 

  • Over $85 billion mobilized under the total Action Agenda at COP28.
  • Launch of ALTÉRRA, a $30 billion catalytic private finance vehicle by the UAE, aiming to mobilize $250 billion for global climate action.
  • COP28 UAE Declaration on Agriculture, Food, & Climate, emphasizing sustainable agriculture and food systems in response to climate change.
  • COP28 UAE Declaration on Climate and Health, focusing on accelerating the development of climate-resilient, sustainable, and equitable health systems.
  • Global Decarbonization Accelerator (GDA), featuring landmark energy initiatives across public and private sectors to expedite the energy transition.
  • Oil and Gas Decarbonization Charter (OGDC), committing signatories to zero methane emissions, ending routine flaring by 2030, and achieving net-zero operations by 2050 at the latest.
  • Coalition for High Ambition Multilevel Partnerships (CHAMP) Pledge, dedicated to advancing the integration of sub-national leaders in climate-related decision-making.

 

Significance

  • A Balanced plan addressing emissions, adaptation, global finance, and loss and damage.
  • Built on common ground, strengthened by inclusivity, and a historic package for climate action.
  • Unprecedented achievements under the Action Agenda.

 

Criticisms

  • Seen as an underachiever, unable to meet expectations for more immediate and ambitious climate action.
  • Lack of clarity on how global targets, such as tripling renewable energy, will be ensured.
  • Issues regarding measuring the phase-down of coal and financial provisions for adaptation.

 

India’s Position

  • India welcomed the agreement but may face new opposition in future climate negotiations.
  • Supports the COP decision document, adhering to Paris Agreement principles.
  • India’s historical emissions compared to the US and EU, with per capita emissions below the world average.
  • Commits to expanding solar and wind energy capacity, aiming for net-zero by 2070.

 

Future Outlook

  • COP28 Presidency intends to ensure agreements are delivered and continued through COP29 and COP30.
  • Agreement with Brazil, host of COP30, to deepen collaboration and increase climate ambitions.
  • Collaboration with Azerbaijan, host of COP29, for ambitious updated climate plans.

Get free UPSC Updates straight to your inbox!

Get Updates on New Notification about APPSC, TSPSC and UPSC

Get Current Affairs Updates Directly into your Inbox

Discover more from AMIGOS IAS

Subscribe now to keep reading and get access to the full archive.

Continue reading

WhatsApp Us

Exit mobile version