{"id":114601,"date":"2024-03-11T09:09:33","date_gmt":"2024-03-11T09:09:33","guid":{"rendered":"https:\/\/alj.com\/?post_type=perspective&#038;p=114601"},"modified":"2024-03-11T09:15:26","modified_gmt":"2024-03-11T09:15:26","slug":"cop28-will-it-help-to-avert-the-climate-crisis","status":"publish","type":"perspective","link":"https:\/\/alj.com\/en\/perspective\/cop28-will-it-help-to-avert-the-climate-crisis\/","title":{"rendered":"COP28: will it help to avert the climate crisis?"},"content":{"rendered":"<h4>They came in their tens of thousands to <a href=\"https:\/\/www.expocitydubai.com\/en\/\">Dubai\u2019s Expo City<\/a> last December for what had been billed as the most crucial climate conference ever staged: National leaders, business heads, youth activists, indigenous peoples, philanthropists, and members of international organizations from around the globe.<\/h4>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignright size-medium wp-image-115000\" src=\"https:\/\/media.alj.com\/app\/uploads\/2024\/02\/COP28-UAE-300x200.jpg\" alt=\"\" width=\"300\" height=\"200\" srcset=\"https:\/\/media.alj.com\/app\/uploads\/2024\/02\/COP28-UAE-300x200.jpg 300w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/COP28-UAE-1024x683.jpg 1024w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/COP28-UAE-150x100.jpg 150w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/COP28-UAE-768x512.jpg 768w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/COP28-UAE.jpg 1200w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/p>\n<p>All had a singular mission in mind \u2013 saving the planet.<\/p>\n<p><a href=\"https:\/\/www.cop28.com\/en\/\">COP28<\/a> took place following a year of weather extremes and new temperature highs.<\/p>\n<p>A year which saw soaring volumes of greenhouse gases in our atmosphere and record melting of oceanic ice. \u00a0A year when global warming took thermometers to an average 1.4<sup>o<\/sup>C above pre-industrial times, scarily close to the 1.5<sup>o<\/sup>C limit once designated as a benchmark for climate action success or failure.<a href=\"#_ftn1\" name=\"_ftnref1\">[1]<\/a><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-115014 alignright\" src=\"https:\/\/media.alj.com\/app\/uploads\/2024\/02\/GLOBAL1-scaled.jpg\" alt=\"\" width=\"2560\" height=\"1440\" srcset=\"https:\/\/media.alj.com\/app\/uploads\/2024\/02\/GLOBAL1-scaled.jpg 2560w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/GLOBAL1-300x169.jpg 300w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/GLOBAL1-1024x576.jpg 1024w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/GLOBAL1-150x84.jpg 150w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/GLOBAL1-768x432.jpg 768w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/GLOBAL1-1536x864.jpg 1536w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/GLOBAL1-2048x1152.jpg 2048w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/GLOBAL1-226x126.jpg 226w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/p>\n<figure id=\"attachment_115042\" aria-describedby=\"caption-attachment-115042\" style=\"width: 220px\" class=\"wp-caption alignright\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-115042\" src=\"https:\/\/media.alj.com\/app\/uploads\/2024\/03\/SULTAN1-220x300.jpg\" alt=\"\" width=\"220\" height=\"300\" srcset=\"https:\/\/media.alj.com\/app\/uploads\/2024\/03\/SULTAN1-220x300.jpg 220w, https:\/\/media.alj.com\/app\/uploads\/2024\/03\/SULTAN1-110x150.jpg 110w, https:\/\/media.alj.com\/app\/uploads\/2024\/03\/SULTAN1.jpg 474w\" sizes=\"(max-width: 220px) 100vw, 220px\" \/><figcaption id=\"caption-attachment-115042\" class=\"wp-caption-text\">HE Dr. Sultan Ahmed Al Jaber<br \/>COP28 President, UAE Special Envoy for Climate Change &amp; Minister of Industry and Advanced Technology<\/figcaption><\/figure>\n<p>The goal, as laid out by the UAE\u2019s <a href=\"https:\/\/drsultanaljaber.com\/\">Dr Sultan bin Ahmed Al Jaber<\/a>, COP28 President, was to focus dialogue on four fundamental pillars:<\/p>\n<ol>\n<li>fast-tracking a just, orderly, and equitable energy transition<\/li>\n<li>fixing climate finance<\/li>\n<li>focusing on people, lives and livelihoods<\/li>\n<li>underpinning everything with full inclusivity<a href=\"#_ftn2\" name=\"_ftnref2\"><sup>[2]<\/sup><\/a><\/li>\n<\/ol>\n<p>Two weeks later delegates departed. \u00a0Some left hailing new optimism, new agreements and new financial commitments to fuel our fightback against climate change. \u00a0Others left with a sense that perhaps more could have been achieved, and that the sands of time symbolizing our chances of averting disaster continue to slip away.<\/p>\n<p>No one, though, could doubt that the gathering had catapulted the climate crisis back to the top of news agendas worldwide.<\/p>\n<p>It was perhaps significant that the conference took place in the UAE, a place where temperatures of more than 50<sup>o<\/sup>C were recorded on multiple occasions in 2023. \u00a0The Gulf region as a whole is deemed at risk of regular <a href=\"https:\/\/alj.com\/en\/spotlight-by-fady-jameel\/deadly-heat-is-cooler-than-you-think-the-chilling-science-of-wet-bulb-temperatures\/\">Wet Bulb Temperature<\/a> (WBT) events later this century, conditions of high heat and humidity exceeding the body\u2019s ability to cool itself by sweating, with likely fatal consequences.<\/p>\n<p>Dr Al Jaber, the UAE\u2019s Minister of Industry and Advanced Technology and Special Envoy for Climate Change, as well as COP28 President, highlighted the UAE\u2019s many climate milestones, such as halting gas flaring in the 1970s. \u00a0The UAE, he noted, went on to become the first country in the region to ratify the <a href=\"https:\/\/unfccc.int\/process-and-meetings\/the-paris-agreement\">Paris Agreement<\/a> (the core 2015 international treaty covering climate change) and the first to announce a strategic initiative to achieve net zero by 2050. \u00a0It has invested US$ 50 billion in clean energy projects across some 70 countries to date, and recently announced a UAE-US Partnership to accelerate the transition to clean energy (PACE)<a href=\"#_ftn3\" name=\"_ftnref3\">[3]<\/a>, unlocking a further US$ 100 billion in financing for 100 gigawatts of clean energy globally.<a href=\"#_ftn4\" name=\"_ftnref4\">[4]<\/a><\/p>\n<p>Against this backdrop, and with delegates energized by the increasingly urgent voices of climate campaigners worldwide, what were the key outcomes of COP28?<\/p>\n<h2>Taking the temperature of a divisive conference<\/h2>\n<p>In a widely quoted summary of the conference\u2019s landmark agreement, UN Climate Change Executive Secretary Simon Stiell touted \u201cthe beginning of the end\u201d for the fossil fuel era in his closing speech to the conference.<a href=\"#_ftn5\" name=\"_ftnref5\">[5]<\/a><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-115035\" src=\"https:\/\/media.alj.com\/app\/uploads\/2024\/02\/SHUTTE1-scaled.jpg\" alt=\"\" width=\"2560\" height=\"1267\" srcset=\"https:\/\/media.alj.com\/app\/uploads\/2024\/02\/SHUTTE1-scaled.jpg 2560w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/SHUTTE1-300x148.jpg 300w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/SHUTTE1-1024x507.jpg 1024w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/SHUTTE1-150x74.jpg 150w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/SHUTTE1-768x380.jpg 768w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/SHUTTE1-1536x760.jpg 1536w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/SHUTTE1-2048x1013.jpg 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/p>\n<p>This appraisal, however, meant different things to different people. \u00a0Those hoping for more rapid climate amelioration decried a compromise deal vowing merely to \u2018transition away from\u2019 rather than \u2018phase out\u2019 fossil fuels \u2013 the latter a stance backed by 130 of the 198 countries attending Dubai.<a href=\"#_ftn6\" name=\"_ftnref6\">[6]<\/a> \u00a0An article in <em>Nature<\/em> magazine went so far as to describe the outcome as \u2018dangerous\u2019.<a href=\"#_ftn7\" name=\"_ftnref7\">[7]<\/a><\/p>\n<p>However, the agreement\u2019s \u2018global stock take\u2019 of climate action \u2013 the first of its kind \u2013 took concrete steps towards reversing the climate crisis, declaring that global greenhouse gas emissions must fall 43% by 2030 (compared to 2019 levels) and reasserting the critical need to limit global warming to 1.5\u00b0C.<a href=\"#_ftn8\" name=\"_ftnref8\">[8]<\/a><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-114993\" src=\"https:\/\/media.alj.com\/app\/uploads\/2024\/02\/CO2EMI1-scaled.jpg\" alt=\"\" width=\"2560\" height=\"1440\" srcset=\"https:\/\/media.alj.com\/app\/uploads\/2024\/02\/CO2EMI1-scaled.jpg 2560w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/CO2EMI1-300x169.jpg 300w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/CO2EMI1-1024x576.jpg 1024w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/CO2EMI1-150x84.jpg 150w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/CO2EMI1-768x432.jpg 768w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/CO2EMI1-1536x864.jpg 1536w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/CO2EMI1-2048x1152.jpg 2048w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/CO2EMI1-226x126.jpg 226w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/p>\n<h2>Landmark deals help \u2018four pillars\u2019 stand tall<\/h2>\n<p>Notwithstanding the differing opinions of progress made at COP28, some of the more notable achievements have the potential to redefine the battle against global warming.<\/p>\n<ol>\n<li><strong>Fast-tracking a just, orderly, and equitable energy transition \u2013 highlights:<\/strong><\/li>\n<\/ol>\n<p>A new Global Renewables and Energy Efficiency Pledge committed signatories to tripling the world\u2019s installed renewable energy generation capacity to at least 11,000 GW by 2030. \u00a0It also set out plans to double the global annual rate of energy efficiency improvements from 2% to 4% every year from now until the end of the decade.,<a href=\"#_ftn9\" name=\"_ftnref9\"><sup>[9]<\/sup><\/a> while a Global Cooling Pledge saw 66 governments vow to reduce cooling-related emissions across all sectors by at least 68% by 2050<a href=\"#_ftn10\" name=\"_ftnref10\"><em>[10]<\/em><\/a>.<\/p>\n<p>The case for nuclear power received a major boost with a declaration to triple nuclear energy capacity globally by 2050, and a plan for financial institutions to promote nuclear energy via ambitious lending policies<a href=\"#_ftn11\" name=\"_ftnref11\">[11]<\/a>.<\/p>\n<p>New mutual recognition schemes for certifying renewable and green hydrogen projects<a href=\"#_ftn12\" name=\"_ftnref12\">[12]<\/a> will help such schemes gain accreditation \u2013 and hence investment \u2013 across 37 participating nations. \u00a0The Oil and Gas Decarbonization Charter<a href=\"#_ftn13\" name=\"_ftnref13\">[13]<\/a> obliges its 52 signatories to net-zero operations by 2050 and near-zero upstream methane emissions, while an Industrial Transition Accelerator<a href=\"#_ftn14\" name=\"_ftnref14\">[14]<\/a> saw 35 major private sector companies agree to decarbonize heavy-emitting sectors including energy, industry, and transportation.<\/p>\n<p>Adequate infrastructure is critical for any viable transition, so it was pleasing to see 25 global power companies establish the Utilities for Zero Alliance<a href=\"#_ftn15\" name=\"_ftnref15\">[15]<\/a> to advance electrification, renewables-ready grids, and clean energy deployment around the world.<\/p>\n<p>Similarly, the Cement and Concrete Breakthrough<a href=\"#_ftn16\" name=\"_ftnref16\">[16]<\/a>, launched by Canada and the United Arab Emirates, compels the industry to hasten decarbonization by sharing best practice and innovation across emerging technologies like carbon capture, usage and storage (CCUS).\u00a0 Meanwhile, 10 further companies joined the Cargo Owners for Zero Emission Vessels initiative, with more than 30 freight buyers now working towards zero-emissions ocean transport<a href=\"#_ftn17\" name=\"_ftnref17\">[17]<\/a>.<\/p>\n<ol start=\"2\">\n<li><strong>Fixing climate finance \u2013 highlights:<\/strong><\/li>\n<\/ol>\n<p>Significant progress was made on recognizing the debt owed to developing countries, and reforming international financial architecture.<\/p>\n<p>Notably, a raft of national governments endorsed the UAE Leaders\u2019 Declaration on a Global Climate Finance Framework<a href=\"#_ftn18\" name=\"_ftnref18\">[18]<\/a>, which calls for the mobilization of US$ 100 billion in climate mitigation schemes through 2025. \u00a0Building on this, the declaration calls for investments of US$ 5-7 trillion in greening the global economy by 2030. \u00a0The ethos underpinning the agreement states that no country should have to choose between fighting poverty and fighting climate change.<\/p>\n<p>Banks and NGOs united on a joint declaration to enhance sustainability-linked sovereign financing for nature and climate<a href=\"#_ftn19\" name=\"_ftnref19\">[19]<\/a>. \u00a0This translates into short-term debt relief and long-term fiscal solutions for developing countries, helping them balance urgent climate mitigation while accelerating their own decarbonization projects.<\/p>\n<p>Similarly, the Global Capacity Building Coalition, supported by the UN, World Bank and the International Monetary Fund (IMF), promised technical assistance for financial institutions in emerging markets<a href=\"#_ftn20\" name=\"_ftnref20\">[20]<\/a>. \u00a0Elsewhere, the new Net-Zero Export Credit Agencies Alliance (NZECA) will help decarbonize global trade and coordinate public and private finance<a href=\"#_ftn21\" name=\"_ftnref21\">[21]<\/a>.<\/p>\n<p>Meanwhile, the Nature Solutions Hub for Asia and the Pacific<a href=\"#_ftn22\" name=\"_ftnref22\">[22]<\/a>, launched by the Asia Development Bank, aims to channel finance into conserving nature and biodiversity loss in these hard-hit regions.<\/p>\n<ol start=\"3\">\n<li><strong>Focusing on people, lives and livelihoods:<\/strong><\/li>\n<\/ol>\n<p>The first day of COP28 saw delegates agree more than US$ 700 million towards a loss and damage fund to compensate developing countries for the irreversible economic and lifestyle losses of global warming<a href=\"#_ftn23\" name=\"_ftnref23\"><sup>[23]<\/sup><\/a>. \u00a0Italy and France each promised US$ 108 million, the UAE and Germany US$ 100 million apiece, the USA US$ 17.5 million and Japan US$ 10 million. \u00a0The fund will focus on adaptation measures covering finance, surveillance systems, heat resilience, health infrastructure and agriculture. \u00a0Progress with the UAE Declaration on Climate Relief, Recovery and Peace<a href=\"#_ftn24\" name=\"_ftnref24\"><sup>[24]<\/sup><\/a> will be assessed at COP29 in November this year in Baku, Azerbaijan.<\/p>\n<p>New declarations acknowledged the need for collective action on climate and health, sustainable agriculture and transforming food systems, while a new roadmap outlined 120 key actions to eliminate malnutrition while remaining within the global 1.5<sup>o<\/sup>C temperature rise threshold.<\/p>\n<p>Forests, mangroves and oceans will be the focus of new <a href=\"https:\/\/alj.com\/en\/spotlight-by-fady-jameel\/investing-in-nature\/\">nature-based finance initiatives<\/a>. \u00a0Furthermore, Colombia, the Democratic Republic of Congo, Ghana and Papua New Guinea announced national finance packages for climate and nature preservation backed by public, private and civil society partners.<\/p>\n<p>Improving climate resilience and livelihoods at community level is an ongoing challenge, so COP28 saw 65 governments agree on the Coalition for High Ambition Multilevel Partnership (CHAMP) for Climate Action<a href=\"#_ftn25\" name=\"_ftnref25\">[25]<\/a>.<\/p>\n<p>The group aims to overhaul climate finance, hasten the energy transition, and strengthen resilience through local measures on the ground.<\/p>\n<p>The Buildings Breakthrough, launched in partnership with the UN Environment Program (UNEP), aims to make zero-emission, climate-resilient buildings the design default by 2030.<\/p>\n<ol start=\"4\">\n<li><strong>Underpinning everything with full inclusivity:<\/strong><\/li>\n<\/ol>\n<p>Climate change has the potential to disproportionately impact vulnerable communities and traditionally underrepresented groups. \u00a0Unless all voices are heard, climate action will fail to inspire the next generation of leaders and innovators.<\/p>\n<p>COP28 saw the appointment of H.E. Shamma Al Mazrui, UAE Minister of Community Development, as official Youth Climate Champion, to promote the inclusion of young people and amplify their climate priorities<a href=\"#_ftn26\" name=\"_ftnref26\">[26]<\/a>. \u00a0A new Gender-Responsive Just Transitions and Climate Action Partnership<a href=\"#_ftn27\" name=\"_ftnref27\">[27]<\/a> will harmonize climate action with the advancement of women\u2019s rights.<\/p>\n<p>COP28 also took steps to ensure the participation of indigenous representatives. \u00a0The Podong Indigenous People\u2019s Initiative<a href=\"#_ftn28\" name=\"_ftnref28\">[28]<\/a> will provide funding directly to native communities, ensuring a proportion of climate funds reach indigenous territories directly.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-115028\" src=\"https:\/\/media.alj.com\/app\/uploads\/2024\/02\/SHUTTE2-scaled.jpg\" alt=\"\" width=\"2560\" height=\"1280\" srcset=\"https:\/\/media.alj.com\/app\/uploads\/2024\/02\/SHUTTE2-scaled.jpg 2560w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/SHUTTE2-300x150.jpg 300w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/SHUTTE2-1024x512.jpg 1024w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/SHUTTE2-150x75.jpg 150w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/SHUTTE2-768x384.jpg 768w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/SHUTTE2-1536x768.jpg 1536w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/SHUTTE2-2048x1024.jpg 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/p>\n<p>With a formalized declaration to gravitate away from fossil fuels, and a vision in place to finally sever mankind\u2019s dangerous addiction to these pollutants, COP28 in many ways marked a momentous turning point in our planet\u2019s fight for survival.<\/p>\n<p>Environmental activists and climate campaigners secured victories across the board. \u00a0Green energy companies also had plenty to celebrate with the international accord to triple global renewable energy capacity by 2030. \u00a0No longer will solar, wind and other eco energy sources be merely <em>supplementing<\/em> the stalwarts of oil, coal and gas; now, a trajectory is set for them to <em>replace<\/em> those traditional fuels forever. \u00a0Likewise, commitments to double energy efficiency by the end of the decade will inspire widespread confidence in our ability to make meaningful change.<\/p>\n<p>However, other parties mourned missed opportunities and highlighted the challenges COP28 failed to address on our journey to a greener, more equitable future.<\/p>\n<h2>Frustration over fossil fuels, small states, and loss and damage fund<\/h2>\n<p>The absence of a pledge to definitively \u2018phase out\u2019 fossil fuels left a number of commentators criticizing the influence of lobbyists at COP28. \u00a0The compromise left the 1.5<sup>o<\/sup>C target only \u2018nominally alive\u2019, from some perspectives.<a href=\"#_ftn29\" name=\"_ftnref29\">[29]<\/a> \u00a0Indeed, lacking a solid timetable for fuel transition, and with enormous faith being placed in CCUS technologies as-yet unproven at scale, COP28 was perhaps more evolution than revolution in the ongoing battle against climate change.<\/p>\n<p>Agribusinesses were well represented at the conference and accordingly the final text omitted any mention of the cattle industry\u2019s role in global warming; this, despite research showing that ruminant herds globally account for at least 7% of avoidable methane emissions.<a href=\"#_ftn30\" name=\"_ftnref30\">[30]<\/a><\/p>\n<p>Small island states, uniquely prone to sea level rise, felt they left COP28 without the protections needed to guarantee their survival. \u00a0The <a href=\"https:\/\/www.aosis.org\/\">Alliance of Small Island States<\/a>, whose members span the Caribbean, the Pacific, African and Indian oceans and the South China Sea, declared that the agreement failed to capture \u201cthe step change that is needed\u201d and erred too much towards a business-as-usual approach.<a href=\"#_ftn31\" name=\"_ftnref31\">[31]<\/a><\/p>\n<p>In some quarters, even the US$ 700+ million loss and damage fund was deemed too little too late. \u00a0Contributions from the US and China, two of the world\u2019s biggest carbon emitters, were dwarfed by bequests from countries with far smaller GDPs.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-115021\" src=\"https:\/\/media.alj.com\/app\/uploads\/2024\/02\/GREENH1-scaled.jpg\" alt=\"\" width=\"2560\" height=\"1440\" srcset=\"https:\/\/media.alj.com\/app\/uploads\/2024\/02\/GREENH1-scaled.jpg 2560w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/GREENH1-300x169.jpg 300w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/GREENH1-1024x576.jpg 1024w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/GREENH1-150x84.jpg 150w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/GREENH1-768x432.jpg 768w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/GREENH1-1536x864.jpg 1536w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/GREENH1-2048x1152.jpg 2048w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/GREENH1-226x126.jpg 226w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/p>\n<p>Arguably the most overlooked group in the aftermath of COP28 may well be <em>future generations<\/em> \u2013 those left to bear the brunt of runaway global warming. \u00a0Studies show that climate change, left unchecked, could <a href=\"https:\/\/alj.com\/en\/spotlight-by-fady-jameel\/the-economic-costs-of-climate-change\/\">cost the global economy<\/a> a crippling US$ 178 trillion by 2070; an unconscionable dereliction of duty, considering the potential US$ 43 trillion bounty waiting to be unlocked by a rapid net-zero transition over the next five decades.<a href=\"#_ftn32\" name=\"_ftnref32\">[32]<\/a><\/p>\n<p>The responsibility for achieving some of these more dramatic and enduring reversals now falls upon the shoulders of the forthcoming COP29 in late 2024. \u00a0Which raises the question \u2013 where now for the climate crisis, and those working hard to ensure a safer tomorrow?<\/p>\n<h2>Why the fight is far from over<\/h2>\n<p>With disputes over the severity of the climate crisis continuing to rumble on, 2024 could see a sizable step forward in monitoring and authenticating the impacts of global warming.<\/p>\n<p>The Enhanced Transparency Framework<a href=\"#_ftn33\" name=\"_ftnref33\">[33]<\/a> negotiated at COP28 lays the foundations for new reporting and review tools developed by United Nations Framework Convention on Climate Change (<a href=\"https:\/\/unfccc.int\/\">UNFCCC<\/a> \u2013 the body charged with coordinating a global response to this unprecedented threat). \u00a0By June 2024, final versions of these standardized reporting instruments should be released, finally shining an unambiguous spotlight on a subject often beset by obfuscation.<\/p>\n<p>November\u2019s COP29 in Azerbaijan will see governments focus on new climate finance measures, while governments will deliver updates on Nationally Determined Contributions (NDCs) fully aligned with the 1.5<sup>o<\/sup>C temperature goal.<\/p>\n<p>Those who left COP28 underwhelmed by declarations on biodiversity will already be looking ahead to October 2024. \u00a0This is when a dedicated biodiversity symposium, the UN Biodiversity Conference, commences in Colombia, South America<a href=\"#_ftn34\" name=\"_ftnref34\">[34]<\/a>. \u00a0The meeting will address biodiversity\u2019s intrinsic role in safeguarding planetary and humanitarian welfare.<\/p>\n<p>COP29 and the UN Biodiversity Conference are far from the only climate forums seeking to grab headlines in 2024.\u00a0 March sees the 11th Annual World Ocean Summit and Expo<a href=\"#_ftn35\" name=\"_ftnref35\">[35]<\/a>\u00a0in Lisbon, Portugal, with discussions on ocean-based climate solutions and how to establish a sustainable ocean economy.\u00a0 The 4th annual International Conference on Small Island Developing States<a href=\"#_ftn36\" name=\"_ftnref36\">[36]<\/a>, scheduled for May 2024 in Antigua and Barbuda, will provide these vulnerable nations with another chance to highlight the injustice of climate debt, and the urgent need for partnerships to ensure land protection.<\/p>\n<p>June will be a particularly busy month for climate advocates. \u00a0The ICLEI (Local Governments for Sustainability) World Conference<a href=\"#_ftn37\" name=\"_ftnref37\">[37]<\/a> in S\u00e3o\u00a0Paulo, Brazil, will see local and regional governments from around the world share best practice on sustainable urban development.<\/p>\n<p>Later that month the IUFRO World Congress will take place in Stockholm, Sweden<a href=\"#_ftn38\" name=\"_ftnref38\">[38]<\/a>. \u00a0This five-yearly gathering of the International Union of Forest Research Organizations will unite civic leaders and scientists to discuss issues around population growth, globalization and the commercial exploitation of forests.<\/p>\n<p>These summits, and others like them, represent our best chance for coordinating a collective reaction to the looming peril of the climate crisis. \u00a0An impactful response will be one harnessing the unique attributes of both public and private sectors.<\/p>\n<p>It is here where organizations like <a href=\"https:\/\/alj.com\">Abdul Latif Jameel,<\/a> wielding the power and responsiveness of private capital, can help convert climate talk into climate action.<\/p>\n<h2>Private sector leads climate call to arms<\/h2>\n<p>Our flagship renewable energy business, Fotowatio Renewable Ventures (<a href=\"https:\/\/frv.com\/en\/\">FRV)<\/a>, is actively supporting COP28\u2019s declaration to triple the world\u2019s renewable energy capacity by 2030. \u00a0FRV manages an ever-growing catalogue of wind, solar, energy storage and hybrid energy projects globally \u2013 across the Middle East, Latin America, Europe and Australia.<\/p>\n<p>FRV\u2019s innovation arm, <a href=\"https:\/\/frv.com\/en\/services\/frv-x\/\">FRV-X<\/a>, already runs utility-scale battery storage (BESS) plants in the UK at <a href=\"https:\/\/alj.com\/en\/news\/abdul-latif-jameel-energys-frv-energizes-contego-battery-energy-storage-plant\/\">Contego,<\/a> West Sussex; <a href=\"https:\/\/alj.com\/en\/news\/abdul-latif-jameel-energys-frv-achieves-financial-close-with-natwest-for-its-holes-bay-battery-project-in-the-uk\/\">Holes Bay<\/a><u>,<\/u> Dorset; and <a href=\"https:\/\/alj.com\/en\/news\/abdul-latif-jameel-energys-frv-and-harmony-energy-begin-construction-of-one-the-uks-largest-battery-storage-projects\/\">Clay Tye<\/a>, Essex. \u00a0Autumn 2022 saw FRV-X secure two further additional <a href=\"https:\/\/alj.com\/en\/news\/abdul-latif-jameel-energys-frv-to-acquire-two-new-battery-energy-storage-projects-in-the-uk\/\">BESS projects<\/a> in the UK and a majority share in a BESS scheme in <a href=\"https:\/\/alj.com\/en\/news\/abdul-latif-jameel-energys-frv-acquires-majority-stake-in-one-of-the-largest-battery-energy-storage-systems-in-greece\/\">Greece<\/a>. \u00a0In Australia, FRV-X operates a hybrid solar and BESS plant at <a href=\"https:\/\/alj.com\/en\/news\/abdul-latif-jameel-energys-frv-announces-first-hybrid-pv-solar-storage-project-in-australia\/\">Dalby<\/a> in the eastern state of Queensland.<\/p>\n<p>Solar energy has the potential to power homes and businesses wherever the sun shines so will play a central role in any future net-zero strategy. \u00a0FRV-X has thrown its financial weight behind <a href=\"https:\/\/alj.com\/en\/perspective\/solar-so-good\/\">ecoligo<\/a>, a German \u2018solar-as-a-service\u2019 provider, with a US$ 10.6 million investment. \u00a0Founded in 2016, ecoligo helps commercial and industrial partners in South America, Africa and Asia fund solar projects via a crowd investment platform.<\/p>\n<p>As the ecological crisis deepens more communities will face acute water shortages, with hundreds of millions potentially facing drought-led migration by the end of the decade.<a href=\"#_ftn39\" name=\"_ftnref39\">[39]<\/a> \u00a0The team at <a href=\"https:\/\/almarwater.com\/\">Almar Water Solutions,<\/a> part of <a href=\"https:\/\/alj.com\/energy\">Abdul Latif Jameel Energy and Environmental Services,<\/a> is working to widen access to reliable supplies of clean water. \u00a0One of its projects is a <a href=\"https:\/\/alj.com\/en\/news\/datakorum-awarded-an-historic-project-driving-digital-transformation-of-abu-dhabis-water-infrastructure\/\">smart-communication water scheme<\/a> in Abu Dhabi, helping to develop a smart grid and to digitize local water infrastructure.<\/p>\n<p>A changing climate and increasingly erratic weather patterns also endanger food security. \u00a0The Jameel Water and Food Systems lab at MIT (<a href=\"https:\/\/jwafs.mit.edu\/\">J-WAFS<\/a>), co-founded by <a href=\"https:\/\/communityjameel.org\/\">Community Jameel<\/a> in 2014, funds research into cutting-edge agricultural avenues \u2013 think drought-resistant seeds, or tech-driven farms-of-the-future.<\/p>\n<figure id=\"attachment_115007\" aria-describedby=\"caption-attachment-115007\" style=\"width: 225px\" class=\"wp-caption alignright\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-115007\" src=\"https:\/\/media.alj.com\/app\/uploads\/2024\/02\/FJ-COP28-225x300.jpg\" alt=\"\" width=\"225\" height=\"300\" srcset=\"https:\/\/media.alj.com\/app\/uploads\/2024\/02\/FJ-COP28-225x300.jpg 225w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/FJ-COP28-112x150.jpg 112w, https:\/\/media.alj.com\/app\/uploads\/2024\/02\/FJ-COP28.jpg 560w\" sizes=\"(max-width: 225px) 100vw, 225px\" \/><figcaption id=\"caption-attachment-115007\" class=\"wp-caption-text\">Fady Jameel, Deputy President &amp; Vice Chairman, Abdul Latif Jameel, speaking at COP28. Photo Credit \u00a9 Community Jameel<\/figcaption><\/figure>\n<p><em>\u201cCOP28 took place during the hottest year on record, a year in which thousands perished due to extreme weather and our oceans recorded hazardously high temperatures,\u201d<\/em> says Fady Jameel, Deputy President and Vice Chairman of Abdul Latif Jameel.<\/p>\n<p><em>\u201cIn the starkest terms, the COP delegation laid out the crisis facing the human race, and took correspondingly bold steps towards healing a blighted planet.\u201d<\/em><\/p>\n<p><em>\u201cOur desecration of Earth has not happened overnight, and the available solutions will take patience and commitment. \u00a0<\/em><\/p>\n<p><em>Only a concerted effort by multiple stakeholders \u2013 campaigners, scientists, governments and private sector champions \u2013 can deliver the technological tools, financial firepower and public passion to confront this existential crisis.\u201d<\/em><\/p>\n<p><em>\u201cWith renewed hope, delegates can look forward to emerging from COP29 in Azerbaijan with even more courageous strategies, armed perhaps with a declaration decisive enough to turn the tables in this era-defining struggle.\u201d<\/em><\/p>\n<p><a href=\"#_ftnref1\" name=\"_ftn1\">[1]<\/a> <a href=\"https:\/\/wmo.int\/news\/media-centre\/2023-shatters-climate-records-major-impacts\">https:\/\/wmo.int\/news\/media-centre\/2023-shatters-climate-records-major-impacts<\/a><\/p>\n<p><a href=\"#_ftnref2\" name=\"_ftn2\">[2]<\/a> <a href=\"https:\/\/unfccc.int\/sites\/default\/files\/resource\/Summary_GCA_COP28.pdf\">https:\/\/unfccc.int\/sites\/default\/files\/resource\/Summary_GCA_COP28.pdf<\/a><\/p>\n<p><a href=\"#_ftnref3\" name=\"_ftn3\">[3]<\/a> <a href=\"https:\/\/www.iea.org\/policies\/17310-pace-uae-us-clean-energy-strategic-partnership\">https:\/\/www.iea.org\/policies\/17310-pace-uae-us-clean-energy-strategic-partnership<\/a><\/p>\n<p><a href=\"#_ftnref4\" name=\"_ftn4\">[4]<\/a> <a href=\"https:\/\/www.mofa.gov.ae\/en\/mediahub\/news\/2022\/11\/23\/23-11-2022-uae-cop28\">https:\/\/www.mofa.gov.ae\/en\/mediahub\/news\/2022\/11\/23\/23-11-2022-uae-cop28<\/a><\/p>\n<p><a href=\"#_ftnref5\" name=\"_ftn5\">[5]<\/a> <a href=\"https:\/\/unfccc.int\/news\/cop28-agreement-signals-beginning-of-the-end-of-the-fossil-fuel-era\">https:\/\/unfccc.int\/news\/cop28-agreement-signals-beginning-of-the-end-of-the-fossil-fuel-era<\/a><\/p>\n<p><a href=\"#_ftnref6\" name=\"_ftn6\">[6]<\/a> <a href=\"https:\/\/www.theguardian.com\/environment\/2023\/dec\/14\/failure-cop28-fossil-fuel-phase-out-devastating-say-scientists\">https:\/\/www.theguardian.com\/environment\/2023\/dec\/14\/failure-cop28-fossil-fuel-phase-out-devastating-say-scientists<\/a><\/p>\n<p><a href=\"#_ftnref7\" name=\"_ftn7\">[7]<\/a> <a href=\"https:\/\/www.nature.com\/articles\/d41586-023-03955-x\">https:\/\/www.nature.com\/articles\/d41586-023-03955-x<\/a><\/p>\n<p><a href=\"#_ftnref8\" name=\"_ftn8\">[8]<\/a> <a href=\"https:\/\/unfccc.int\/news\/cop28-agreement-signals-beginning-of-the-end-of-the-fossil-fuel-era\">https:\/\/unfccc.int\/news\/cop28-agreement-signals-beginning-of-the-end-of-the-fossil-fuel-era<\/a><\/p>\n<p><a href=\"#_ftnref9\" name=\"_ftn9\">[9]<\/a> <a href=\"https:\/\/www.cop28.com\/en\/global-renewables-and-energy-efficiency-pledge\">https:\/\/www.cop28.com\/en\/global-renewables-and-energy-efficiency-pledge<\/a><\/p>\n<p><a href=\"#_ftnref10\" name=\"_ftn10\">[10]<\/a> <a href=\"https:\/\/www.cop28.com\/en\/global-cooling-pledge-for-cop28\">https:\/\/www.cop28.com\/en\/global-cooling-pledge-for-cop28<\/a><\/p>\n<p><a href=\"#_ftnref11\" name=\"_ftn11\">[11]<\/a> <a href=\"https:\/\/www.energy.gov\/articles\/cop28-countries-launch-declaration-triple-nuclear-energy-capacity-2050-recognizing-key\">https:\/\/www.energy.gov\/articles\/cop28-countries-launch-declaration-triple-nuclear-energy-capacity-2050-recognizing-key<\/a><\/p>\n<p><a href=\"#_ftnref12\" name=\"_ftn12\">[12]<\/a> <a href=\"https:\/\/www.cop28.com\/en\/cop28-uae-declaration-on-hydrogen-and-derivatives\">https:\/\/www.cop28.com\/en\/cop28-uae-declaration-on-hydrogen-and-derivatives<\/a><\/p>\n<p><a href=\"#_ftnref13\" name=\"_ftn13\">[13]<\/a> <a href=\"https:\/\/www.cop28.com\/en\/news\/2023\/12\/Oil-Gas-Decarbonization-Charter-launched-to--accelerate-climate-action\">https:\/\/www.cop28.com\/en\/news\/2023\/12\/Oil-Gas-Decarbonization-Charter-launched-to&#8211;accelerate-climate-action<\/a><\/p>\n<p><a href=\"#_ftnref14\" name=\"_ftn14\">[14]<\/a> <a href=\"https:\/\/www.bloomberg.org\/press\/cop28-presidency-united-nations-climate-change-and-bloomberg-philanthropies-launch-new-industrial-transition-accelerator-for-heavy-emitting-industries\/\">https:\/\/www.bloomberg.org\/press\/cop28-presidency-united-nations-climate-change-and-bloomberg-philanthropies-launch-new-industrial-transition-accelerator-for-heavy-emitting-industries\/<\/a><\/p>\n<p><a href=\"#_ftnref15\" name=\"_ftn15\">[15]<\/a> <a href=\"https:\/\/www.irena.org\/News\/pressreleases\/2023\/Dec\/Global-Power-Utilities-Declare-Joint-Action-Plan-to-Drive-Energy-Transition-at-COP28\">https:\/\/www.irena.org\/News\/pressreleases\/2023\/Dec\/Global-Power-Utilities-Declare-Joint-Action-Plan-to-Drive-Energy-Transition-at-COP28<\/a><\/p>\n<p><a href=\"#_ftnref16\" name=\"_ftn16\">[16]<\/a> <a href=\"https:\/\/cement.ca\/cement-and-concrete-breakthrough-initiative-launched-cop-28\/\">https:\/\/cement.ca\/cement-and-concrete-breakthrough-initiative-launched-cop-28\/<\/a><\/p>\n<p><a href=\"#_ftnref17\" name=\"_ftn17\">[17]<\/a> <a href=\"https:\/\/www.cozev.org\/\">https:\/\/www.cozev.org\/<\/a><\/p>\n<p><a href=\"#_ftnref18\" name=\"_ftn18\">[18]<\/a> <a href=\"https:\/\/www.cop28.com\/en\/climate_finance_framework\">https:\/\/www.cop28.com\/en\/climate_finance_framework<\/a><\/p>\n<p><a href=\"#_ftnref19\" name=\"_ftn19\">[19]<\/a> <a href=\"https:\/\/climatechampions.unfccc.int\/wp-content\/uploads\/2023\/12\/Joint-Declaration-on-Credit-Enhancement-of-Sustainability-Linked-Sovereign-Financing-for-Nature-Climate.pdf\">https:\/\/climatechampions.unfccc.int\/wp-content\/uploads\/2023\/12\/Joint-Declaration-on-Credit-Enhancement-of-Sustainability-Linked-Sovereign-Financing-for-Nature-Climate.pdf<\/a><\/p>\n<p><a href=\"#_ftnref20\" name=\"_ftn20\">[20]<\/a> <a href=\"https:\/\/www.bloomberg.org\/press\/un-agencies-multilateral-development-banks-private-sector-finance-and-philanthropy-leaders-unite-to-scale-climate-finance-capacity-building\/\">https:\/\/www.bloomberg.org\/press\/un-agencies-multilateral-development-banks-private-sector-finance-and-philanthropy-leaders-unite-to-scale-climate-finance-capacity-building\/<\/a><\/p>\n<p><a href=\"#_ftnref21\" name=\"_ftn21\">[21]<\/a> <a href=\"https:\/\/www.unepfi.org\/climate-change\/net-zero-export-credit-agencies\/\">https:\/\/www.unepfi.org\/climate-change\/net-zero-export-credit-agencies\/<\/a><\/p>\n<p><a href=\"#_ftnref22\" name=\"_ftn22\">[22]<\/a> <a href=\"https:\/\/www.adb.org\/news\/adb-and-partners-launch-nature-financing-initiative-asia-and-pacific\">https:\/\/www.adb.org\/news\/adb-and-partners-launch-nature-financing-initiative-asia-and-pacific<\/a><\/p>\n<p><a href=\"#_ftnref23\" name=\"_ftn23\">[23]<\/a> <a href=\"https:\/\/www.weforum.org\/agenda\/2023\/12\/cop28-loss-and-damage-fund-climate-change\/\">https:\/\/www.weforum.org\/agenda\/2023\/12\/cop28-loss-and-damage-fund-climate-change\/<\/a><\/p>\n<p><a href=\"#_ftnref24\" name=\"_ftn24\">[24]<\/a> <a href=\"https:\/\/www.cop28.com\/en\/cop28-declaration-on-climate-relief-recovery-and-peace\">https:\/\/www.cop28.com\/en\/cop28-declaration-on-climate-relief-recovery-and-peace<\/a><\/p>\n<p><a href=\"#_ftnref25\" name=\"_ftn25\">[25]<\/a> <a href=\"https:\/\/www.cop28.com\/en\/cop28-uae-coalition-for-high-ambition-multilevel-partnerships-for-climate-action\">https:\/\/www.cop28.com\/en\/cop28-uae-coalition-for-high-ambition-multilevel-partnerships-for-climate-action<\/a><\/p>\n<p><a href=\"#_ftnref26\" name=\"_ftn26\">[26]<\/a> <a href=\"https:\/\/www.cop28.com\/en\/cop28-uae-youth-climate-champion\">https:\/\/www.cop28.com\/en\/cop28-uae-youth-climate-champion<\/a><\/p>\n<p><a href=\"#_ftnref27\" name=\"_ftn27\">[27]<\/a> <a href=\"https:\/\/www.cop28.com\/en\/cop28-gender-responsive-just-transitions-and-climate-action-partnership\">https:\/\/www.cop28.com\/en\/cop28-gender-responsive-just-transitions-and-climate-action-partnership<\/a><\/p>\n<p><a href=\"#_ftnref28\" name=\"_ftn28\">[28]<\/a> <a href=\"https:\/\/www.iucn.org\/press-release\/202312\/podong-indigenous-peoples-initiative-co-designed-and-co-led-indigenous-peoples\">https:\/\/www.iucn.org\/press-release\/202312\/podong-indigenous-peoples-initiative-co-designed-and-co-led-indigenous-peoples<\/a><\/p>\n<p><a href=\"#_ftnref29\" name=\"_ftn29\">[29]<\/a> <a href=\"https:\/\/www.theguardian.com\/environment\/2023\/dec\/14\/cop28-winners-and-losers-fossil-fuel-climate-crisis\">https:\/\/www.theguardian.com\/environment\/2023\/dec\/14\/cop28-winners-and-losers-fossil-fuel-climate-crisis<\/a><\/p>\n<p><a href=\"#_ftnref30\" name=\"_ftn30\">[30]<\/a> <a href=\"https:\/\/www.worldwildlife.org\/industries\/beef\">https:\/\/www.worldwildlife.org\/industries\/beef<\/a><\/p>\n<p><a href=\"#_ftnref31\" name=\"_ftn31\">[31]<\/a> <a href=\"https:\/\/www.reuters.com\/business\/environment\/alliance-small-island-states-sees-a-litany-loopholes-cop28-text-2023-12-13\/\">https:\/\/www.reuters.com\/business\/environment\/alliance-small-island-states-sees-a-litany-loopholes-cop28-text-2023-12-13\/<\/a><\/p>\n<p><a href=\"#_ftnref32\" name=\"_ftn32\">[32]<\/a> <a href=\"https:\/\/www.deloitte.com\/global\/en\/about\/press-room\/deloitte-research-reveals-inaction-on-climate-change-could-cost-the-world-economy-us-dollar-178-trillion-by-2070.html\">https:\/\/www.deloitte.com\/global\/en\/about\/press-room\/deloitte-research-reveals-inaction-on-climate-change-could-cost-the-world-economy-us-dollar-178-trillion-by-2070.html<\/a><\/p>\n<p><a href=\"#_ftnref33\" name=\"_ftn33\">[33]<\/a> <a href=\"https:\/\/unfccc.int\/process-and-meetings\/transparency-and-reporting\/preparing-for-the-ETF\">https:\/\/unfccc.int\/process-and-meetings\/transparency-and-reporting\/preparing-for-the-ETF<\/a><\/p>\n<p><a href=\"#_ftnref34\" name=\"_ftn34\">[34]<\/a> <a href=\"https:\/\/www.cbd.int\/article\/colombia-host-cop16\">https:\/\/www.cbd.int\/article\/colombia-host-cop16<\/a><\/p>\n<p><a href=\"#_ftnref35\" name=\"_ftn35\">[35]<\/a> <a href=\"https:\/\/icriforum.org\/events\/world-ocean-summit-2024\/\">https:\/\/icriforum.org\/events\/world-ocean-summit-2024\/<\/a><\/p>\n<p><a href=\"#_ftnref36\" name=\"_ftn36\">[36]<\/a> <a href=\"https:\/\/sdgs.un.org\/conferences\/sids2024\">https:\/\/sdgs.un.org\/conferences\/sids2024<\/a><\/p>\n<p><a href=\"#_ftnref37\" name=\"_ftn37\">[37]<\/a> <a href=\"https:\/\/iclei.org\/news\/iclei-world-congress-2024\">https:\/\/iclei.org\/news\/iclei-world-congress-2024<\/a><\/p>\n<p><a href=\"#_ftnref38\" name=\"_ftn38\">[38]<\/a> <a href=\"https:\/\/iufro2024.com\/\">https:\/\/iufro2024.com\/<\/a><\/p>\n<p><a href=\"#_ftnref39\" name=\"_ftn39\">[39]<\/a> <a href=\"https:\/\/www.unicef.org\/wash\/water-scarcity\">https:\/\/www.unicef.org\/wash\/water-scarcity<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"author":18,"featured_media":115067,"template":"","tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>COP28: will it help to avert the climate crisis? | Abdul Latif Jameel\u00ae<\/title>\n<meta name=\"description\" content=\"They came in their tens of thousands to Dubai\u2019s Expo City last December for what had been billed as the most crucial climate conference ever staged: National leaders, business heads, youth activists, indigenous peoples, philanthropists, and members of international organizations from around the globe.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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