The 28th Conference of Parties to the United Nations Framework Convention on Climate Change (COP28) adopted a series of voluntary commitments before reaching a final consensus calling for a fossil fuel transition - Step-by-step consent.
COP28 President Sultan Al Jaber has just said that two weeks of negotiations at COP28 have mobilized more than 85 billion USD and 11 commitments and declarations of climate action.
Below are the biggest commitments achieved at the COP28 conference
Loss and damage
COP28 sees the launch of “Loss and Danger” to help countries with deeper vulnerabilities to the increasingly severe and costly impacts of damaging climate disasters.
This has received key assets with a total value of about 792 million USD in the talks, the COP28 President said.
The Green Climate Mechanism, which is also focused on supporting developing countries in green climate action, received a second additional $3.5 billion in funding, with a commitment of $3 billion in financial support. USD from America.
Triple renewable energy
132 countries have committed to tripling renewable energy capacity worldwide by 2030 and doubling the annual rate of energy efficiency improvement. The result of the talks was approval of this commitment, which is a victory for advocates of a green energy transition.
During talks at COP28, the Coalition to Make Coal a Thing of the Past (PPCA), whose working goal is to phase out fossil fuels, connected more than 10 new members - including the US and UAE. More than 80% of countries belonging to the Organization for Economic Cooperation and Development (OECD) and the European Union (EU) have committed to participating in PPCA.
Colombia has become one of the world's largest fossil fuel producers joining the Fossil Fuel Non-Proliferation Treaty Initiative - a movement that leaves island nations with deep climate vulnerability leading to First, strive to support the prevention of fossil fuel access and expansion, phase out existing products in line with Paris Climate goals, and support the transition to renewable energy. create.
Although it did not achieve the expected results, more than 100 cities and local governments came together to call for support for the Treaty.
Triple nuclear productivity
The United States leads more than 20 countries in calling for a tripling of the world's nuclear energy capacity by 2050. Nuclear energy produces almost no greenhouse gases, but radiation leaks in The Fukushima Daiichi nuclear power plant in Japan in 2011 caused great concern.
In addition, experts and activists have also determined that new nuclear plants can take decades to come into operation while building renewable energy is significantly faster.
Prioritize food systems and agriculture
Nearly 160 countries have made food and agriculture systems a top priority in their national climate plans.
This non-coercive statement has received support from observers, given that the food system is estimated to be responsible for about a third of man-made greenhouse gases.
However, some activists criticized the statement for not focusing on clarifying specific goals and not mentioning fossil fuels, in addition, to not signaling a call for a transition to a sustainable diet.
Put health at the center
More than 140 countries have signed a declaration “putting health at the heart of climate action”. The country calls on governments to step up action to combat climate-related health impacts such as extreme heat, air pollution, and infectious diseases.
According to statistics, each year, nearly 9 million people die because of polluted air, while another 189 million people have to improvise harsh phenomena.
More than 60 countries have committed to reducing emissions of energy-intensive cooling devices such as air conditioners and refrigerators, with a global reduction of at least 68% by 2050. This voluntary commitment provides more reliable cooling solutions for an additional 3.5 percent of people facing rising temperatures.
UAE input climate
The United Arab Emirates (UAE), the host country of COP28, said the UAE is investing 30 billion USD in a new private gas investment called Alterra. The fund will allocate an additional $25 billion to climate strategies in developing countries and $5 billion to encourage investment in the Global South. This fund is expected to attract investments worth 250 billion USD by 2030.
Although COP28 achieved a historic agreement on fossil fuel transition, it was still regretful that it ended without being able to agree on new regulations that would allow the development of a global exchange market. Carbon transfers between countries and between businesses.
However, according to observers, the COP28 reaching an agreement to eliminate fossil fuels is considered a victory for multilateralism and climate diplomacy, thereby sending a strong message to the world. policy plan that for the first time the international community can exercise the corporate spirit of fossil fuel reduction to avert a climate catastrophe.
(Tai nguyen & Moi truong)