IHBC features ‘Heritage from the Global doorstep’: Designing Buildings summarises  COPs and the last day of No.28

Designing Buildings (DB) has updated from the COP28 Climate Action Commitment Counter last December.

DBW writes:

COP28 has mobilised over $83 billion. The first ever declarations on food systems transformation and health, plus declarations on renewable energy and efficiency, as well as initiatives to decarbonise heavy emitting industries. 11 pledges and declarations have been launched and received support. Operationalisation and capitalisation funding for Loss and Damage with $726 million pledged:

  • $3.5 billion in new money announced to replenish the Green Climate Fund (GCF)
  • $133.6 million announced toward the Adaptation Fund
  • $129.3 million announced toward the Least Developed Countries Fund (LDC)
  • $31 million to the Special Climate Change Fund (SCCF)

UAE launched a $30 billion catalytic fund, ALTÉRRA, to drive positive climate action. The fund seeks to mobilise an additional $250 billion globally. The UAE committed $200 million to help vulnerable countries through Special Drawing Rights (SDRs) and $150 million to fund water security solutions. The World Bank announced an increase of $9 billion annually for 2024 and 2025 to finance climate-related projects. Multilateral Development Banks (MDBs) announced a cumulative increase of over $22.6 billion toward climate action.

The full breakdown of pledges and declarations so far is as follows:

  • The Global Renewables and Energy Efficiency Pledge has been endorsed by 130 countries.
  • The COP28 UAE Declaration on Agriculture, Food, & Climate has received endorsements from 147 countries.
  • The COP28 UAE Declaration on Climate and Health has been endorsed by 135 countries.
  • The COP28 UAE Declaration on Climate Relief, Recovery & Peace has been endorsed by 76 countries and 40 organisations.
  • The COP28 UAE Declaration on Climate Finance has been endorsed by 13 countries.
  • The COP28 UAE Declaration on Hydrogen and Derivates has been endorsed by 37 countries.
  • The COP28 UAE Declaration on Gender-Responsive Just Transitions has been endorsed by 76 countries.
  • The Coalition for High Ambition Multilevel Partnerships (CHAMP) Pledge has been endorsed by 65 countries.
  • The Global Cooling Pledge has been endorsed by 66 countries.
  • The Oil and Gas Decarbonisation Charter has been endorsed by 52 companies, representing 40 percent of global oil production.
  • The Industrial Transition Accelerator has been endorsed by 35 companies and six industry associations, including World Steel Association, International Aluminium Institute, Global Renewable Alliance, Global Cement and ConcreteAssociation, Oil and Gas Climate Initiative, International Air Transport Association.

… COP28 and the path ahead

COP28 professes to be a ‘milestone moment’, during which the world will take stock and analyse the progress that has been made on goals set out in the 2015 Paris Agreement. However, in the wake of a year of extreme and record-breaking weather, there has been widespread frustration about the lack of global climate progress to date. Has the time come for individual businesses to take more control and play a greater role in steering the world towards a greener future?

COP28, the annual summit of the United Nations Framework Convention on Climate Change, commenced on November 30, 2023 for just under two weeks, located in Dubai, United Arab Emirates. 2023 is a particularly momentous year as it concludes the first global stocktake under the Paris Agreement, which is essentially a progress review to examine how the various countries’ efforts to reduce emissions are proceeding and to suggest where further changes can be made. Ahead of the summit the UNEP released the Emissions Gap Report 2023: Broken Record – Temperatures hit new highs, yet world fails to cut emissions (again). This report assesses the gap between current greenhouse gas (GHG) emissions and the long-term goals set out in the Paris Agreement. The exasperated tone of the report’s title reflects its fairly damning contents. GHG emissions reached a new record high in 2022, with CO2 emissions from industry and the combustion of fossil fuels accounting for two thirds of the total. What’s more, the G20 nations – those best placed to be making inroads into their output – still account for 76% of global emissions, with China, India, Indonesia and the USA’s emissions all increasing when compared to the previous year. Emissions of methane, nitrous oxide and fluorinated gases are also rapidly increasing, this is despite a growing number of net zero pledges from governments around the world.

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