Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

ADVERTISEMENT

COP28: Global stocktake reveals world is not on track to Climate goal  

The 28th Conference of the Parties (COP28) to the UN Framework Convention on Climate Change (UNFCCC) or United Nations Climate Change Conference is being held at Expo City, Dubai in the United Arab Emirates. It began on 30th November 2023 and will continue till 12th December 2023.  

The Conference of the Parties (COP) is an international climate summit held annually where world leaders meet to work together to tackle climate change. Presently, 197 countries and the European Union are parties to the convention. As world’s highest decision-making body on climate issues, these conferences serve as the formal meeting of the parties to negotiate and agree actions to check emissions of greenhouse gases, to halt global warming and to tackle climate change.  

At the 21st Conference of the Parties (COP21) held in Paris in 2015, the world leaders representing 196 Parties adopted landmark legally binding international treaty (popularly known as Paris agreement) which provides for limiting global warming to 1.5°C compared to pre-industrial levels by 2050. To limit global warming to 1.5°C, greenhouse gas emissions must peak before 2025 and be halved by 2030. This means there are only seven years left to meet the goal.  

COP28 UAE is an opportunity to rethink and refocus the climate agenda. It has delivered first ever comprehensive assessment (global stocktake) of the collective progress in implementing climate goals of 2015 Paris Agreement.  

Global stocktake 

The evaluation of the progress against climate goals has revealed that the world is not on track to limiting temperature rise to 1.5°C by the end of this century. The transition is not fast enough to achieve 43% reduction in greenhouse gas emission by 2030 that could limit global warming within the current ambitions. This reality forms the background of COP28 UAE.  

The UAE Declaration 

To keep 1.5°C target within reach and to meet the goals of the Paris Agreement, COP28 led by UAE has launched a Global Climate Finance Framework for financing a new climate economy. The idea is to ensure that climate finance is available, affordable, and accessible.  

COP28 UAE Declaration on a Global Climate Finance Framework will help to bridge the trust gap between the Global North and Global South and will build on the momentum created by existing initiatives. UAE has established the largest private climate vehicle ALTÉRRA and announced a $30 billion commitment to the vehicle with the aim of mobilizing $250 billions of private-sector investment by 2030. ALTÉRRA will combine private and public capital to channel large-scale investment into climate solutions globally. 

 *** 

Sources: 

  1. COP28 UAE. https://www.cop28.com/en/ Accessed on 01 December 2023.  
  2. IPCC. Special Report – Global Warming of 1.5 ºC. Available at https://www.ipcc.ch/sr15/ Accessed on 01 December 2023. 
  3. UNFCCC 2015. The Paris Agreement. Available at https://unfccc.int/process-and-meetings/the-paris-agreement. Accessed on 01 December 2023.  
  4. UNFCCC 2023. News – COP28 Opens in Dubai with Calls for Accelerated Action, Higher Ambition Against the Escalating Climate Crisis. Available at  https://unfccc.int/news/cop28-opens-in-dubai-with-calls-for-accelerated-action-higher-ambition-against-the-escalating Accessed on 01 December 2023. 

*** 

Umesh Prasad
Umesh Prasad
Science journalist | Founder editor, Scientific European magazine

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

Most Popular Articles

Bendable and Foldable Electronic Devices

Engineers have invented a semiconductor made by a thin...

A new image of “FS Tau star system” 

A new image of the “FS Tau star system”...

Abell 2384: The New Twist in the Story of Merger of Two ‘Galaxy Clusters’

X-ray and radio observation of galaxy system Abell 2384...
- Advertisement -
93,100FansLike
47,341FollowersFollow
1,772FollowersFollow
30SubscribersSubscribe