An action plan was prepared to support the formal negotiations that reached “Emirates agreement“Historical.
The plan contributed to the launch of 11 pledges and announcements, including unprecedented announcements regarding creating a qualitative shift in food and health systems, in addition to collecting and stimulating more than $85 billion in climate financing, including launching UAE The $30 billion Altera Fund is the world’s largest private investment fund catalyzing climate finance entirely focused on supporting effective climate solutions.
The conference plan focused on achieving an orderly, responsible, fair and logical transition in the energy sector, developing climate financing mechanisms, protecting people and nature, improving lives and livelihoods, and fully including everyone in the international climate action system, and paved the way for a new phase of climate action that leaves no one behind. .
This plan succeeded in uniting the efforts of a record number of state and government leaders, ministers, civil society organizations, representatives of local communities and indigenous peoples, and private sector leaders to reach tangible positive climate outcomes, by including everyone at an unprecedented level. More than 1,300 business and philanthropic leaders also participated in the “COP28” Climate Forum for Business and Philanthropy, with the aim of promoting climate neutrality and nature protection efforts, and the forum witnessed the submission of official pledges in funding amounting to $7 billion to support climate action goals. And biological diversity.
And put “COP28“A roadmap to bring about a qualitative shift in the energy sector, by tripling the global production capacity of renewable energy sources and doubling energy efficiency by 2030. An important output in this framework is the launch of the “Global Accelerator for Emissions Reduction,” which included a set of initiatives related to the desired transition in The energy sector and global emissions reduction.
Among these initiatives is the “Oil and Gas Emissions Reduction Charter,” to which 55 oil and gas companies, representing more than 43 percent of global oil production, joined. The signatory companies pledged to stop burning gas, reduce methane emissions to zero by 2030, and achieve climate neutrality. By 2050, several companies, including PetroChina, Oil India, and Far Energy, joined the charter this year.
The announcement of the “Global Emissions Reduction Accelerator” also included the launch of the “Industrial Transition Accelerator” with the participation of 36 companies and six industrial associations, with the aim of stimulating investments and reducing emissions across six sectors whose emissions are difficult to mitigate, and which together constitute 30 percent of the total global carbon emissions, and the “Partnership” is undertaking the task. Possible”, “Industrial Alliance to Reduce Emissions” hosting the secretariat of the “Industrial Transition Accelerator”.
“COP28”, in support of reducing methane emissions and greenhouse gases other than carbon dioxide, launched the Global Partnership to Reduce Gas Flaring and Methane Emissions, which pledged to provide $255 million to support efforts to accelerate the reduction of methane emissions in developing countries, of which $100 million was provided by the country. The UAE is the largest donor to support the trust fund for this partnership.
The UAE continues its efforts to integrate emerging and less-represented sectors into climate action, and is therefore intensifying its efforts to mobilize more international support for the implementation of the “COP28 Declaration on Sustainable Agriculture, Resilient Food Systems and Climate Action,” which was supported by 160 heads of state and government.
During COP28, it announced a partnership with the Gates Foundation worth $200 million to support small farmers who are most vulnerable to the repercussions of climate change. The country is also cooperating with the Food and Agriculture Organization of the United Nations.Faw“AndWorld Bankto invest in countries that want to boost their food-related climate goals for 2025.
One of the most important achievements of the conference’s action plan was the “COP28 Declaration on Climate, Relief, Recovery and Peace,” which focused for the first time on the large financing gap witnessed by countries facing conflicts and unstable humanitarian situations. It is planned that 94 countries and 43 organizations will announce in Baku New steps to address this vulnerability.
In addition to securing global support for the goal of reducing deforestation by 2030, Razan Al-Mubarak, the UN climate lead at COP28, mobilized hundreds of new companies to register in the “Task Force on Nature-related Financial Disclosures” initiative, which represents a framework to support companies and financial institutions. In assessing and managing emerging risks and opportunities related to nature conservation efforts.
The UAE also pledged to provide $100 million to support nature conservation projects and confront the repercussions of climate change, and “COP29” will witness the submission of a report on the first batch of this funding received by Ghana and…Indonesia.
74 countries have also joined the “Coalition for Highly Ambitious Multilevel Partnerships – CHAMP”, a pioneering initiative launched by “COP28” in cooperation with Bloomberg Philanthropies, as the alliance pledges to strengthen cooperation at the national and local levels in countries to implement strategies to effectively confront the repercussions of climate change.
Five countries joined the global cooling pledge launched by “COP28”, bringing the total to 71 commitments to this pledge, and 4 commitments were added to the “COP28” UAE Declaration regarding taking into account gender equality in transitions supporting climate action, bringing the total to 82 commitments.
Brazil, which holds the presidency of the G20, announced its accession to the “UAE Declaration on the Global Climate Finance Framework,” and Sweden also recently joined it, bringing the total number of countries supporting the declaration to 15 countries. The growing international support for the declaration contributes to building the momentum required to provide climate finance on easy terms and at a low cost. suitable.
By including everyone at an unprecedented level, and opening the door to participation in climate action to various sectors and segments, “COP28” achieved great progress in various areas of global climate action and succeeded, despite geopolitical tensions, in proving the feasibility of multilateral action and its ability to achieve global goals.
The conference presidency’s plan reached practical and tangible results that support the negotiation outcomes, raised the standards of inclusion, solidarity and climate action to new levels, and laid the necessary foundations to enhance a comprehensive, collective global ambition during this extremely important decade for climate action.
