Explainer: what is COP28?
· 7 min read
COP28 is the annual event organised by the United Nations, where all member states convene to discuss climate change. It serves as a critical platform for global leaders to collaborate on innovative solutions and strategies to address the escalating challenges of the climate crisis. This year’s COP28 puts the spotlight on climate change, bringing all public attention to the issue and creating solutions that extend beyond the realm of public policy.
The acronym COP stands for "Conference of the Parties," and it is used in the context of various international environmental agreements, not just for climate change. However, the most important one by far is the one for the United Nations Framework Convention on Climate Change (UNFCCC) adopted in 1992. These COP meetings are annual global conferences where representatives from countries that are party to the UNFCCC meet to measure progress in dealing with climate change, negotiate and update international agreements and commitments, and discuss future actions to mitigate and adapt to climate change impacts.
This year marks the 28th anniversary of the first COP celebrated in Berlin, Germany in the year 1995. Ever since then, very relevant international agreements have been signed dealing with climate change. For example, the Kyoto Agreement was signed in COP3, The Montreal Action Plan in COP11, and of course, the Paris Agreement, which set the limit to global warming to 1.5 degrees and introduced nationally determined contributions (NDCs), which was signed in COP21.
COP28 is marked by high stakes but also high controversy. The year 2023 is projected to be the warmest year on record, and for the first time ever, on the 20th of November, the global temperature reported more than 2 degrees of warming compared to the pre-industrial levels, breaching temporarily the mark set by the Paris Agreement. Together with this comes the incredibly high number of natural disasters like forest fires and heat waves affecting populations all around the world during the summer. On top of this, last year’s COP27, held in Egypt, was considered by most sources to be a failure with little to no agreements finalised.
This situation means that the world cannot afford another year without significant climate agreements. However, controversies about the host country, the United Arab Emirates have undermined the expectations for this conference. According to Forbes, the UAE is the 9th biggest fossil fuel producer in the world and oil-related products constitute more than one-third of the exports of the country. Worse still, Sultan Al-Jaber, President of COP28, is also the CEO of ADNOC, the UAE’s state-run oil and gas company and has recently had allegations placed in his name claiming that he has used his position as COP President to run private oil and gas deals. This has led critics to believe that the oil lobby has hijacked the conference and that Sultan Al-Jaber is nothing more than a fox guarding the hen’s house.
This year’s agenda is divided into four main themes, chosen by the COP28 Presidency. The themes are Technology & Innovation, Inclusion, Frontline Communities, and Finance. On top of this, each day will have specific thematic areas, some of which have never or only rarely been talked about in the past, such as trade, food, and accountability. The thematic areas are the following:
The primary focus will be on the UN's first-ever "Global Stocktake," assessing global progress in addressing climate change. This stocktake is crucial as it reveals how far the world is from achieving the goal of limiting global temperature rise to 1.5 degrees C. Key issues include:
Starting today, illuminem will launch comprehensive and insightful coverage of the various activities at this monumental conference. We will bring our readers exclusive articles straight from changemakers present at the conference, addressing the main themes on the agenda and beyond, as well as insights on the most prominent blocs working to generate climate solutions.
Furthermore, we will be sending a small delegation to Dubai to provide live coverage and meet top policymakers, business leaders, and scientists working together to formulate the policies that could lead to a more sustainable world.
This delegation will also be hosting the "COP28 Debrief: Charting the Climate's Future" event on December 12th, 2023 together with Tikehau Capital and the Italian Minister for Energy and Environment. This event will bring together experts to discuss the outcomes and future of global climate action and aims to provide a comprehensive understanding of COP28's impact and strategies for a sustainable world.
Stay tuned to our coverage on our LinkedIn, Instagram, and X (Twitter), and subscribe to our exclusive COP28 Newsletter for in-depth analysis by industry leaders.
This article is featured in illuminem's Thought Leadership series on COP28 proudly powered by Tikehau Capital.
https://oec.world/en/profile/country/are
https://www.bbc.com/news/science-environment-67143989
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