Climate Summit Outcomes in Cop 28

Climate Summit Outcomes and the Role of Yemeni and Arab Civil Society Organizations in Cop 28

Tariq Hassan

Representative of the World Youth Counil -Yemen

Chairman of the Arab Youth Network for Sustainable Development

The Conference of the Parties to the United Nations Convention on Climate Change at its twenty-eighth session (COP28), held in Dubai, United Arab Emirates, from 30 November to 12 December 2023, resulted in several agreements, including the COP28 agreement, which sets the first “line for the end” of the 21-page era of fossil fuels, calling for “a shift towards the abandonment of fossil fuels in energy systems, in a fair, orderly and equitable manner, by accelerating work in this crucial decade, to achieve carbon neutrality in 2050 as recommended by science.” The transformation here therefore concerns the energy sector, not other sectors such as petrochemicals.

The landmark in the draft agreement was that, for the first time in the history of the series of United Nations climate conferences, it addressed all types of fossil fuels that are largely responsible for climate change.

Referring to global solidarity, some 200 parties to the Convention gathered in Dubai on a resolution on the world’s first “global outcome” process, aimed at promoting climate action before the end of the current decade. The overall objective of these efforts is to prevent global warming from rising by more than 1.5 degrees Celsius.

What characterizes the United Nations Climate Conference (COP 28) is the set of commitments and compacts that emerged from the conference. On the first day of the conference, the President (COP 28) reached a historic agreement to activate a global climate fund and address its implications. International pledges were made to finance it for $792 million, many of which are:

– An international pledge of $3.5 billion was made to replenish the Green Climate Fund.
– Announcing $134 million for the Adaptation Fund.
– An announcement of $129.3 million to the LDC Fund.
– An announcement of $31 million to the Special Climate Change Fund.

One of the most notable achievements of COP 28 was the launch by the United Arab Emirates of a climate investment fund with an incentive capital of $30 billion, under the name Altera, which focuses on attracting and stimulating private financing. The fund aims to raise and stimulate an additional $250 billion worldwide.

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👉🏼 Written by the netwoClimate Summit Outcomes – Written by the network president, Mr. Tariq Hassank president, Mr. Tariq Hassan