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The 27th United Nations Climate Change Conference (COP27) adopted the Sharm El Sheikh Implementation Plan “SHIP” as a major decision.
The “plan” has been scrutinized because it advances some climate efforts of previous COPs, such as loss and damage, while falling short in other areas, such as fossil fuel and mitigation ambitions.
As the scene shifts to COP28, here is a list of some of the key issues that the UAE presidency will need to address.
Loss and Damage Fund
The growing impact of the climate crisis in 2022 has attracted the attention of governments and people around the world. Countries from Pakistan to the UK to Nigeria have experienced unprecedented floods and severe heatwaves this year. Furthermore, the effects of climate change exacerbate the global energy and food crisis, and vice versa, especially in developing countries.
As a result, after two weeks of marathon negotiations, despite the difficulties and challenges of our time, with biased perspectives and conflicting interests, countries have managed to reach a difficult agreement to set up a fund to help people suffering from climate-related disasters.
For nearly three decades, developing countries have sought economic assistance to cope with loss and destruction to save and rebuild the physical and social infrastructure of countries devastated by extreme weather events. Reaching such an agreement is an important milestone. The creation of a dedicated fund for “loss and damage” marks significant progress, with the issue on the official agenda and adopted for the first time at COP27.
details make a difference
But as they say: “It’s the details that make the difference.” Setting up the fund will be a tall order for both the current COP presidency (Egypt) and the incoming COP presidency (UAE). There is no agreement on how the financing will be provided, who will oversee the fund, how the money will be distributed or who will benefit from it.
Furthermore, there is still no agreement on what should be classified as “loss or damage” from climate change – which could include damaged infrastructure and property, as well as priceless treasures such as natural ecosystems or cultural assets.
Under the agreement, the fund will initially draw on contributions from developed countries and other private and public sources, including international financial institutions. Major emerging economies such as China (the world’s second largest economy) do not initially require contributions.
This option remains on the table and will be negotiated over the next few years. This is a key demand of the European Union and the United States, which believe that China and other big polluters currently classified as developing countries have the financial means and therefore have a responsibility to pay their dues.
transition committee
Governments have also agreed to form a “transition committee” to make recommendations on how to implement new funding arrangements and funds at next year’s COP28. The first meeting of the Transitional Council is expected to take place before the end of March 2023. However, the fund may still be several years away.
As the chair of the next COP28, the UAE has a huge responsibility in this regard. While the Loss and Damage Fund has been widely hailed as a victory against the devastating effects of global warming, many countries are feeling pressure to back away from tougher commitments to limit global warming to 1.5 degrees Celsius (in order to reach the landmark loss agreement) and damage fund through).
Therefore, COP28 has a lot of work to do in terms of reducing emissions and promoting mitigation in climate negotiations.
emission reduction
Furthermore, progress on reducing emissions and moving away from fossil fuels proved difficult at COP27. In Glasgow last year, a pledge to phase down coal use was agreed. This marks the first time a resolution on fossil fuels has been included in the final text. This issue needs to be raised and resolved again at COP28.
Developed nations still have not kept their 2009 pledge to mobilize $100 billion a year for other climate aid – aimed at helping poor countries develop green energy and adapt to future warming – which drew serious attention at COP27. In addition, multilateral development banks and international financial institutions are called upon to mobilize climate finance.
While COP27 managed to secure a breakthrough agreement on a new “loss and damage” fund for fragile states, all eyes will now be on how the new funding arrangements will be implemented at COP28.
Dr Mohamed Abdelraouf is an independent environmental researcher
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