COP28 Climate Summit to Kick-off in Dubai

COP, or the Conference of the Parties of the UN Framework Convention on Climate Change (UNFCCC) is an international climate summit that has happened every year since 1995 and serves as a platform for the 198 parties (including nations, countries, and states worldwide) to collectively address climate change issues. 

This year’s COP will take place from November 30th to December 12th in Dubai, United Arab Emirates. That means that the host of the 28th United Nations Climate Change Conference will be the UAE. Throughout the 13-day event, governments will have to agree on policies to limit global temperature rises and adapt to impacts associated with climate change. 

The reason why this year’s COP is especially important is because 2023 is on track to become the hottest year on record and extreme weather events have affected people around the globe. 

Who will attend the cop 28?

COP28 UAE will be one of the largest and most important international conferences to be held in 2023. As the world's highest decision-making process on climate issues, it will bring together more than 70,000 representatives (which is more than any other COP so far) including heads of state and world leaders, to build consensus and facilitate progress on climate action. 

Among this year’s attendees, we can expect Pope Francis and King Charles III. US President Joe Biden and China’s Xi Jiping won’t be attending this meeting, even though both countries will still be represented. 

What are the main topics of discussion? 

This year’s COP will be focused on four main topics : 

1. “Fast tracking the energy transition and slashing emissions before 2030”: The goal of this year’s COP is to accelerate the shift to cleaner energy. 
   
   
2. “Deliver old promises and set the framework for a new deal on finance”: Finance is crucial for dealing with climate change, but the current system falls short. The goal this year is to create a new financial system that helps all countries transition to net-zero. This includes allocating more funds for climate actions, using public funds to attract private investment and improving collaboration between financial institutions.
   
   
3. “Put nature, people, lives and livelihoods at the heart of climate action”: COP28’s main goal is to financially support those facing climate change impacts that they can’t adapt to. At COP27, countries agreed to establish a loss and damage fund, but there is still disagreement about how it should be financed and operated. Therefore, this year’s goal is to come to an agreement.
    
4. “Mobilize for the most inclusive COP so far”: COP28 will emphasize inclusivity, gender balance and empower youth and indigenous people, aiming to make it the most inclusive COP so far.

How ClimateSeed agrees with the efforts

At ClimateSeed, we understand the urgency of climate action: our goal is to increase climate-awareness, optimize companies’ carbon footprint measurement and reduction, and maximize their contribution to carbon removal and avoidance projects. 

We hope that innovative policies will be put in place to go beyond existing commitments, and that robust climate finance mechanisms will be aligned with the targets of net zero emissions by 2050 (IPCC). To find out more about IPCC and its report, follow this link.

Crucial issues, such as adaptation to the inevitable impacts of climate change, must also be central to the deliberations. We are setting our expectations for COP28, not only in terms of new policies and more ambitious commitments, but also by advocating concrete steps taken to deliver tangible action.

Update December 5th

As previously stated, the goal of this year’s COP was to come to an agreement with regards to a Loss and Damage fund, whose aim would be to provide financial assistance to countries most vulnerable and impacted by the effects of climate change. 

This fund was one of COP27’s main resolutions, but its details had not been yet approved. It was finally adopted on Thursday, November 30th 2023, on the first day of this years’ climate summit. This news was met by a standing ovation from the nearly 200 participating countries. According to Sultan Al Jaber, the Emirati President of COP28, this decision represents a “positive signal for the world”. 

The UAE announced its commitment of $100 million to the fund. Other countries making notable commitments included Germany and Italy (also $100 million), the UK (£40 million), Japan ($10 million) and the U.S. ($17.5million).

After the Loss and Damage fund agreement, announcements have poured in across the entire climate agenda, including on finance, health, food, nature, and energy. These encompass the first ever declarations on food systems transformation and health, declarations on renewable energy and efficiency, as well as initiatives to decarbonize heavy emitting industries. For example, at least 118 nations pledged on Saturday to triple the world's renewable energy capacity by 2030. The goal would slash fossil fuel use this decade. The US has also pledged $3 billion for the Green Climate Fund at COP28 : this fund’s aim is to expand collective human action to adapt to climate change. If it is approved by the US Congress, it will double the US contribution to this fund which was created in 2010, making the country the largest contribution. 

In the first four days, this event has mobilized over $57 billion; which, according to the COP28 president, sets the pace for a new era in climate action.

For more information on COP28, please visit their official website: https://www.cop28.com

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