FEATURE ARTICLE
As COP28 kicks off in Dubai, United Arab Emirates (UAE) from November 30 to December 12, 2023, the urgency of addressing the escalating climate crisis takes centre stage. It marks a pivotal moment for world leaders, country negotiators, activists, representatives of indigenous communities, journalists, and other stakeholders among the expected 70,000 attendees—the largest gathering in the history of United Nations climate change summits. With a resounding call to accelerate global climate action, this conference is an essential platform to reassess commitments and chart a course toward limiting global warming to 1.5°C. Here are six key points to anticipate at COP28:
1. Assessment of Progress and Global Stocktake
COP28 signifies the conclusion of the “global stocktake,” a comprehensive evaluation of global efforts to implement the 2015 Paris Agreement. Despite advancements, the findings reveal a stark reality: the world is not on track to limit temperature rise to the crucial 1.5°C target. While nations are developing plans for a net-zero future, the transition to clean energy is deemed insufficient to meet current ambitions. The global stocktake serves as a catalyst for increased ambition, especially as countries prepare to submit revised national climate action plans by 2025.
2. Climate Financing for Vulnerable Countries
One of the dominating topics at COP28 will be climate financing for vulnerable countries. With the impacts of climate change disproportionately affecting these nations, there will be a concerted effort to address the financial gaps in adaptation and resilience. COP28 aims to secure a quantum leap in financing, emphasising the need for developed nations to support climate resilience and adaptation projects in less affluent regions.
Malaysia advocates for the Loss and Damage Fund, a financial package agreed at COP27, in which developed nations compensate developing countries vulnerable to climate change, to be supervised by an independent body. Amidst negotiations, there is an anticipated push for global collaboration and autonomy for developing nations, particularly those in the Global South, aligning with Malaysia’s call for transparent and equitable fund management—a broader plea for fair participation and access to crucial funds free from undue influence.
3. Methane Emissions in the Spotlight
Methane emissions, particularly from the energy sector, will also be a focal point at COP28. At least 25 percent of today’s global warming is driven by methane from human actions, and the world’s oil and gas industry is a leading contributor. Expect significant pledges from both countries and companies to curtail methane leaks and emissions. Malaysia is a signatory of the Global Methane Pledge, pledging to reduce 30% of methane emissions by 2030, however, the implications for national action on methane emissions remain unclear.
4. Bolstering Emissions Cuts Pledges
As the conference unfolds, expect robust discussions on enhancing emissions cuts pledges. The recently published report by UN Climate Change indicates that current national climate action plans would only lower greenhouse gas emissions to 2% below 2019 levels by 2030, far from the necessary 43% reduction. COP28 aims to accelerate emissions cuts globally, setting the stage for more ambitious targets aligned with the goals of the Paris Agreement.
5. Phasing Out Fossil Fuels
A critical issue taking centre stage is the imperative to phase out fossil fuels. With the energy sector being a significant contributor to climate change, COP28 will witness discussions on strategies to accelerate the decline of coal, oil, and gas production. Simultaneously, there will be a push to triple global renewable power capacity by 2030, embracing wind, solar, hydro, and geothermal energy sources.
6. Malaysia’s Stand and Royal Presence
Adding a unique dimension to COP28, the Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah and Raja Permaisuri Agong Tunku Azizah Aminah Maimunah Iskandariah will undertake a special visit to the UAE in conjunction with the conference. Their presence signifies Malaysia’s commitment to global climate action. The royal delegation includes Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Natural Resources, Environment and Climate Change Minister Nik Nazmi Nik Ahmad, Pahang Menteri Besar Datuk Seri Wan Rosdy Wan Ismail, and senior government officials.
COP28 unfolds as a crucial moment in the fight against climate change, where decisions will significantly shape the trajectory of global climate action, paving the way for a sustainable and resilient future. Post-COP28, nations will have until 2025 to submit new national plans to combat climate change, a crucial phase that will ultimately determine whether the world is heading in the right direction.
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