Context: On the tenth day of COP28 in Dubai, United Arab Emirates, significant developments unfolded in the discussions surrounding the United Nations Framework Convention on Climate Change.
Significant Developments of COP-28
- COP Presidency Plenary: COP 28 President Sultan Al Jaber stated that there were more “areas of divergence than convergence” in all negotiation tracks.
- For mitigation, the major divergence was language around fossil fuel phaseout/phasedown and abatement technologies.
- There was also divergence on the difference between the principle of common but differentiated responsibilities and respective capabilities (CBDR-RC) and the term “equitable transition” and division of the remaining carbon budget.
- COP 29 Host: Azerbaijan has been announced as the host country of the next COP summit in 2024 — COP 29 — with the capital city of Baku set to host the talks at the end of next year.
- Global Stocktake draft: The last draft of the Global Stocktake text has effectively proposed including India and China in the list of countries with historical responsibility for creating significant emissions.
- Till now, only the developed countries have been listed as historical emitters.
- New Collective Quantified Goal (NCQG): New Collective Quantified Goal (NCQG) refers to ongoing negotiations on a new climate finance commitment that developed countries must make to developing countries to accelerate the world’s transition away from fossil fuels
- Phasing out fossil fuel subsidies: The Netherlands headed a joint ministerial statement on phasing out fossil fuel subsidies. Canada, France, Austria, Belgium, Antigua & Barbuda, and Finland are among the signatories of the coalition.
- The joint ministerial addresses the lack of a clear methodology and international cooperation as key barriers to the implementation.
About Article 6
- Article 6 of the Paris Agreement outlines ways in which countries can collaborate to fulfill their nationally determined contributions (NDC), widely recognized as the provision for carbon markets (and non-market approaches) within the Paris Agreement.
- Article 6: Discussions on Article 6 saw some progress in refining rules and procedures for market approaches.
- Japan made a country intervention on the need for the operationalization of Article 6 to create financial resources so that the world can be kept on track to achieve the 1.5°C Paris target.
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Must Read: NDC Synthesis Report For 2023: UNFCCC
News Source: Down to Earth
December 11, 2023