Today's Edition
Mays Ibrahim (ABU DHABI)
After setting a number of world firsts hosting the COP28 climate summit, the UAE enters COP29 in Azerbaijan with a renewed commitment to accelerate the global energy transition towards a climate-resilient future.
The United Nations Frame-work Convention on Climate Change (UNFCCC) will be held in Baku on November 11-22.
The country has already made significant strides, submitting its updated Nationally Determined Contributions (NDCs) well ahead of the February 2025 deadline. As part of this new plan, unveiled on Thursday, the UAE has pledged to cut its carbon emissions by 47% by 2035, compared to 2019 levels.
COP28: A Landmark Moment for Climate Action
The UAE has long held a reputation as a leader in global climate efforts.
The COP28 UN Climate Change Conference in Dubai was the largest of its kind, bringing together over 85,000 participants, including 150 heads of state and government.
The conference concluded with a historic agreement that signalled the “beginning of the end” of the fossil fuel era by laying the groundwork for a swift, just and equitable transition, underpinned by deep emissions cuts and scaled-up finance.
A key achievement at COP28 was the world’s first “global stocktake”, a comprehensive review of progress toward climate goals under the Paris Agreement. The stocktake recognises that global greenhouse gas emissions need to be cut by 43% by 2030 to keep the 1.5°C target within reach. It laid out ambitious new goals, including a tripling of renewable energy capacity and a doubling of energy efficiency improvements by 2030.
COP28 also saw the activation of a historic loss and damage fund under the UNFCCC, the first time a substantive decision was adopted on the first day of the conference. With over $660 million pledged to date, this fund provides a crucial financial lifeline to those most affected by climate-related disasters.
Climate Finance at COP28: Key DevelopmentsAt COP28, significant strides were made in climate finance, with a focus on adaptation and funding. The Green Climate Fund (GCF) received a boost, reaching a record $12.8 billion in pledges from 31 countries.
Additionally, commitments totalling over $174 million were made to the Least Developed Countries Fund and Special Climate Change Fund, while the Adaptation Fund received nearly $188 million.
Discussions also advanced on a new collective climate finance goal, aiming for $100 billion annually, to support the implementation of updated national climate plans due by 2025.
Linking Climate Action and Nature Conservation
The two-week conference also saw an unprecedented focus on integrating climate action with biodiversity preservation. Governments were urged to consider ecosystems and biodiversity when updating their climate plans.
A historic pledge was made to halt deforestation by 2030, which could eliminate 14% of global emissions. These efforts align with the Kunming-Montreal Global Biodiversity Framework, including the “30x30” goal to protect 30% of the planet’s land and oceans by 2030.
Practical Climate Solutions
COP28 featured new initiatives to address emissions and resilience. Notable announcements included the UAE’s Climate and Health Declaration, signed by 125 countries, which mobilised $1 billion for climate-health solutions.
Additionally, 137 leaders committed to transforming food systems, with $2.6 billion allocated for sustainable agriculture. The EU pledged €175 million to reduce methane emissions across the energy sector.
