COP 28

Recently, the 28th Conference of Parties (COP-28) took place in Dubai,

UAE, with representatives from 197 countries presenting their initiatives to
curb global warming and engaging in discussions on future climate actions.

The conference yielded a mix of positive outcomes and disappointments,

marking a substantial step forward since the Paris Agreement. While some
hail it as the conclusion of the fossil fuel era, there are apprehensions about
deficiencies in adaptation efforts and troubling gaps in mitigation strategies.

What are the Key Outcomes of COP 28 (2023)?

 Global Stocktake Text:
o The Global Stocktake (GST) is a periodic review
mechanism established under the Paris Agreement in
2015.
o The text proposes eight steps to keep the global
temperature rise within the ambit of 1.5 degrees
Celsius.
o It calls for tripling renewable energy capacity globally
and doubling the global average annual rate of energy
efficiency improvements by 2030.
o It calls for substantially reducing non-CO2 emissions,
including, in particular, methane emissions globally by
2030.
 Transitioning Away from Fossil Fuels:
o COP28 calls for transitioning away from fossil fuels in
energy systems, in a just, orderly, and equitable
manner, accelerating action in this critical decade, to
achieve net zero by 2050.
 Global Goal on Adaptation (GGA):
o Global adaptation goal focuses on enhancing adaptive
capabilities, and minimizing vulnerability for sustainable
development.
o At COP28, this text calls for a doubling in adaptation
finance and plans for assessments and monitoring of
adaptation needs in the coming years.
o Positively, an explicit 2030 date has been integrated
into the text for targets on water security, ecosystem
restoration, and health.
 Climate Finance:
o The United Nations Conference on Trade and
Development (UNCTAD) estimates that wealthy
 nations owe developing countries USD 500 billion in
2025 under the New Collective Quantified Goal
(NCQG) for climate finance.
o The goal is to set a new collective quantified goal before
2025. The goal will start from a floor of USD 100 billion
per year.
o This includes USD 250 billion for mitigation, USD 100
billion for adaptation, and USD 150 billion for loss and
damage.
 Loss and Damage Fund:
o Member countries reached an agreement to
operationalise the Loss and Damage (L&D) fund
aimed at compensating countries grappling with climate
change impacts.
o A specific percentage is earmarked for Least Developed
Countries and Small Island Developing States.
o The World Bank will oversee the loss and damage
fund in the beginning.
 Global Renewables and Energy Efficiency Pledge:
o The Pledge stipulates that signatories commit to work
together to triple the world’s installed renewable
energy generation capacity to at least 11,000 GW by
2030.
o It also calls for collectively double the global average
annual rate of energy efficiency improvements
from around 2% to over 4% every year until 2030.
 The Global Cooling Pledge for COP 28:
o It includes 66 national government signatories
committed to working together to reduce cooling-
related emissions across all sectors by at least 68%
globally relative to 2022 levels by 2050.
 Declaration to Triple Nuclear Energy:
o The declaration launched at COP28 aims to triple
global nuclear energy capacity by 2050.

What are the Major Engagements of India in COP 28?

 Green Credit Initiative:
o The Green Credit Initiative has been conceptualised
as a mechanism to incentivise voluntary pro-
planet actions, as an effective response to the
challenge of climate change.
 o It envisions the issue of Green Credits for plantations
on waste/degraded lands and river catchment
areas, to rejuvenate and revive natural ecosystems.
 Phase II of the Leadership Group for Industry Transition
(LeadIT 2.0):
o It will focus on inclusive & just industry transition,
co-development and transfer of low-carbon technology,
and financial support to emerging economies for
industry transition.
 Global River Cities Alliance (GRCA):
o It was launched at COP 28, led by the National
Mission for Clean Ganga (NMCG) under
the Ministry of Jal Shakti, Government of India.
o GRCA highlights India's role in sustainable river-
centric development and climate resilience.
o This platform will facilitate knowledge exchange, river-
city twinning, and dissemination of best practices.
 Quad Climate Working Group (QCWG) on Localised Climate
Action :
o The event focused on recognising and amplifying the
role of local communities, and regional governments in
supporting sustainable lifestyles.

What are the Key Concerns?

 No Specific Timelines for Fossil Fuel Phase-out:
o The agreement lacked a clear and urgent plan for
fossil fuel phase-out, using vague language such as
"transitioning away" without specific timelines or
targets.
 No Specified Targets on Tripling of Global Renewable
Energy:
o The COP28 agreement calls upon countries to
contribute to tripling of global installed capacity of
renewable energy and doubling of annual
improvements in energy efficiency.
o Tripling is a global target, and it is not incumbent on
every country to individually triple its current
installed capacity. It is thus not clear how this tripling
would be ensured.
 No Clear Mechanisms for Achieving Adaptation Goals:
o Developing countries made it clear that the adaptation
draft fell well below their expectations there is no
 mention of how these objectives are to be
realized or the mechanisms that will fund these efforts.
 Lack of Accountability on Financial Commitments:
o There is currently no established mechanism to
hold governments and institutions
accountable for fulfilling their climate financing
commitments.
 Varying Interpretations on Climate Finance:
o Data on climate finance flows are compiled using
various methodologies and have varying
interpretations.
o Double counting of climate finance can occur
when the same funds are reported by multiple parties,
leading to an overestimation of the actual financial
flows.
 Resistance over Phase-down of Coal:
o There was a move to stipulate that no new coal-fired
power plants could be opened without an in-built
carbon capture and storage facility, but this
was strongly resisted by India, China, South Africa,
and other countries.
 Concerns over Methane Emission Cuts:
o The agreement talks about “accelerating and
substantially reducing non-carbon-dioxide emissions
globally, including in particular methane emissions by
2030.
o Cutting methane emissions could involve tweaking
agricultural patterns which could be extremely
sensitive in a country like India.