Following overnight consultations at the UN Climate Change Conference (COP28) in Dubai, the draft global stocktake (GST) text has undergone significant revisions, particularly in its language concerning fossil fuels. The updated text now emphasizes a just and equitable transition away from fossil fuels to achieve net-zero emissions by 2050.
COP28 President Sultan Al Jaber engaged in individual meetings with parties, aiming to strike a balance between scientific considerations and the principles of equity and common but differentiated responsibilities (CBDR). Officials from the United Arab Emirates emphasized that the multilateral process is party-driven, and now it is up to the parties to decide. The collaborative efforts between the COP28 presidency and the participating parties led to the development of more acceptable language in the draft GST text.
The revised text incorporates principles of equity and CBDR, highlighting the imperative for deep, rapid, and sustained reductions in greenhouse gas emissions aligned with 1.5°C pathways. Parties are called upon to contribute to global efforts, taking into account the Paris Agreement, national circumstances, pathways, and approaches.
The proposed strategies encompass ambitious objectives, including the tripling of worldwide renewable energy capacity and doubling the annual rate of improvements in energy efficiency by 2030. The document underscores the need to expedite initiatives aimed at reducing unabated coal power and transitioning to energy systems with net-zero emissions. Moreover, it promotes the adoption of zero- and low-carbon fuels, encouraging the rapid advancement of technologies such as renewables, nuclear power, carbon capture and utilization, and storage, particularly with a focus on challenging-to-transform sectors.
The text specifically addresses the reduction of non-carbon-dioxide emissions, particularly methane, by 2030. It underscores the importance of accelerating emissions reduction in road transport through infrastructure development and the rapid deployment of zero and low-emission vehicles, while also advocating for the phasing out of inefficient fossil fuel subsidies.
Encouraging parties to submit ambitious, economy-wide emission reduction targets in their next nationally determined contributions (NDCs), the text emphasizes alignment with the 1.5°C goal based on the latest scientific knowledge and diverse national circumstances.
While the updated text is seen as progress, there are mixed sentiments, particularly from developing countries. Some see positives in the removal of language discouraging new investments in coal power plants, acknowledging the challenges faced by rapidly growing economies. However, concerns persist about the weak language regarding fossil energy, with some critics noting the absence of a clear commitment to phase down fossil fuels.
The negotiations continue to highlight divisions between developing and developed nations, with financing and fossil fuels emerging as key sticking points. Developing countries, including India, emphasize the need for principles of CBDR and equity across provisions and seek modifications to address their concerns. The impasse centers around financing and the lack of commitment from wealthier nations, particularly in providing climate finance to facilitate a global transition away from fossil fuels.
Source: Hindustan Times