“Investing in a liveable planet for all”
COP 28 UN Climate Change Conference in Dubai in 2023 was the biggest of it’s kind. More than 150 heads of state and governments were among the representatives of national delegations, civil society, business, Indigenous Peoples, youth, philanthropy and international organisations.
It marked the first “Global Stocktake” of the world’s efforts to address Climate Change under the Paris Agreement.
Having shown that progress has been too slow across all areas of Climate action:
- reduction in Greenhouse Gas emissions
- strengthening resilience to a changing climate
- getting financial and technical support to vulnerable nations
countries responded with a decision to accelerate action by 2030. This includes a call for all governments to speed up the transition away from fossil fuels and to renewable such as wind and solar power.
Other key agreements included:
- new funding for loss and damage
- linking climate action with nature conservation
- ramping up practical climate solutions
COP 29
The aim is to establish a new Climate Finance Goal. COP 29 has become known as the Finance COP. Representatives from all countries will come together to set a new:
Global Finance Target replacing that set in 2009 where developed nations agreed to provide 100 billion dollars by 2020.
The reality is that developing nations financial needs far outstrip what is currently going to them.
Another key aim is for countries to signal their intent to:
- set more ambitious emissions reduction targets next year
- strengthen action on adaptation
- demonstrate progress on previous targets
- commit more financial and other support to countries grappling with loss and damage from climate impacts
Overall the focus will be on:
- A new Global Finance Goal
- Stronger National Climate Commitments (NDC’s)
- Progress on existing commitments on cities, energy food and forests
A clear process for funding and response to loss and damage