The United Nations Climate Change Conference, also known this year as COP 28, is slated to occur in Dubai, UAE from November 30 to December 12, 2023. As one of the largest international gatherings focused on addressing the global climate crisis, this event is expected to attract over 70,000 participants from all over the world, including heads of state, government officials, industry leaders, academics, and representatives from civil society organizations.
But before the main event, there will be several other conferences and summits to set the stage. Among them are pre-COP negotiations, a climate finance summit, the G7 Summit, the G20 Summit, and the annual meetings of the World Bank Group, as well as various business and media-sponsored conferences. The scope and breadth of these preliminary discussions are overwhelming, but they serve a critical role in shaping the agenda and priorities for COP 28.
Now, let's look closely at some of the key agenda items.
The loss and damage agreement is expected to be the most contentious issue at this year's conference. The committee of 24 countries is tasked with developing a plan for funding the agreement and determining eligibility to receive funds. This issue is bound to generate heated debates and disagreements.
Another important issue on the table is climate finance. By 2023, the yearly $100 billion climate finance threshold is expected to be reached. It is high time for high-income economies to reform and capitalize on international financial institutions, such as the World Bank and regional development banks, to direct more funding toward climate projects. Recently, US President Biden announced a $1 billion US contribution to the Green Climate Fund, which is a step in the right direction.
The global stocktake is another important process that will be discussed. It is a two-year process that takes place every five years to assess the implementation of the Paris Agreement worldwide. The lack of a clear plan of action if countries are revealed to be falling behind is a concern that needs to be addressed.
Additional items on the agenda include early warnings, just energy transition partnerships, adaptation, food systems, and ocean systems. With an extensive array of topics on the agenda, it becomes apparent that there is a considerable amount of work ahead to tackle the pressing global climate crisis.
Beyond the official agenda, there are other issues that are likely to be part of the political dialogue, business and NGO activism, and media focus.
As the host of COP 28, the UAE's role in the conference will be significant. Furthermore, the role of business and oil and gas in the Middle East will likely be a topic of discussion.
My main concern with Oil and Gas becoming such a predominant topic at the next COP is that it risks overshadowing the urgent need to address the global climate crisis. The Middle East is home to some of the world's largest oil and gas reserves, and the industry plays a significant role in the region's economy.
Balancing Roles: Selling Fossil Fuels and Tackling the Climate Crisis - The Dilemma of Sultan Al Jaber, President of COP28.
However, the burning of fossil fuels is one of the main contributors to greenhouse gas emissions and climate change. The focus on business and oil and gas in the Middle East could lead to discussions that prioritize economic interests over environmental ones, potentially delaying the necessary transition to renewable energy sources and exacerbating the already dire situation.
With all of these discussions and debates, we can only hope that concrete actions will result from COP 28. The big question everyone has now is if the UAE will be able to balance it's roles with regards to selling fossil fuels and tackling the climate crisis. The climate community has already voiced copious concern and small glimpse's of hope as the Journey to COP 28 begins.
More updates to follow...