What to expect from COP28?

In November of last year, Digiplanet published an article about what to expect from COP27, where we address the main topics to be debated at the 27th United Nations Conference on Climate Change.

The event, which took place in Sharm el-Sheikn, Egypt, was attended by more than 45 thousand people and brought some positive resolutions, but also exposed some challenges. 

The main highlights of COP27 were:

• Commitment to reduce methane emissions: 100 countries, including the United States, the European Union and China, have committed to reducing methane emissions by 30% by 2030. Methane is a greenhouse gas, which is 28 times more “potent” than carbon dioxide.
  
  
• Commitment to protect forests: More than 100 countries, including Brazil, Russia and Indonesia, have committed to protecting tropical forests, which play a key role in absorbing carbon dioxide from the atmosphere.
  
  
• Creation of the Loss and Damage Fund: The Loss and Damage Fund was created to help countries in the Global South (known as developing countries) deal with the impacts of climate change. The fund is not yet operational, but it is an important step in recognizing the need for assistance to countries already being affected by climate change. This was one of the most anticipated points of the conference.
  
  
• Agreement on carbon market regulation: Countries agreed to develop an agreement to regulate the carbon market. The carbon market is a mechanism that allows countries to buy and sell “carbon credits”, which are used to offset greenhouse gas emissions.

In general, COP27 was very important and allowed progress on certain extremely relevant topics, although there are still many challenges to be addressed. Having said that, what can we expect from COP28?

TO 28th United Nations Conference on Climate Change will take place between November 30th and December 12th, in Dubai, in the United Arab Emirates. At this COP, in addition to evaluating the progress made since the 2022 conference, there are other topics to be debated.

First, there is the Paris Agreement. This topic was among the main expectations for debate at COP27 and, despite important steps being taken and new solutions created for its implementation, it is expected that this year the topic will once again be a highlight of the conference. 

This topic is directly linked to the review of emissions reduction commitments. Countries must submit updates to their national climate plans, known as Nationally Determined Contributions (iNDC, in its English acronym). The new updates are expected to be more ambitious than those previously presented, so that the world has a chance to limit global warming to 1.5°C above pre-industrial levels.

As happened at COP27, the theme of climate finance must be placed on the table again. It is very important to reach a consensus to increase climate financing for developing countries. This measure is essential to help countries with fewer resources reduce their emissions and adapt to the impacts of climate change.

Linked to this topic, it is also expected that countries will agree to strengthen the international cooperation in the area of ​​adaptation to climate change. Many regions are already suffering from the impacts of climate change and international cooperation is essential for us all to have a more sustainable future.

COP28 will be an important event for the future of global climate action. The conference will play a key role in defining climate action priorities for the coming years. However, expectations do not always meet reality and it is essential that, during COP28, there is political and social will from participating countries to contribute to change.