COP28 UNFCCC concludes

December 15, 2023

The United Nations Climate Change Conference (COP28) closed with an agreement that signals the “beginning of the end” of the fossil fuel era by laying the ground for a swift, just and equitable transition, underpinned by deep emissions cuts and scaled-up finance.
Negotiators from nearly 200 Parties came together in Dubai with a decision on the world’s first ‘global stocktake’ to ratchet up climate action before the end of the decade – with the overarching aim to keep the global temperature limit of 1.5°C within reach.
The global stocktake is considered the central outcome of COP28.
Global stocktake is a process for countries to see where they’re collectively making progress towards meeting the goals of Paris Agreement.
The stocktake recognizes the science that indicates global greenhouse gas emissions need to be cut 43% by 2030, compared to 2019 levels, to limit global warming to 1.5°C.
- But it notes Parties are off track when it comes to meeting their Paris Agreement goals.
The stocktake calls on Parties to take actions towards achieving, at a global scale,
- a tripling of renewable energy capacity and
- doubling energy efficiency improvements by 2030.
- The list also includes accelerating efforts towards the phase-down of unabated coal power, phasing out inefficient fossil fuel subsidies, and other measures that drive the transition away from fossil fuels in energy systems, in a just, orderly and equitable manner, with developed countries continuing to take the lead.
Parties agreed on targets for the Global Goal on Adaptation (GGA) and its framework, which identify where the world needs to get to in order to be resilient to the impacts of a changing climate and to assess countries’ efforts.
- The GGA framework reflects a global consensus on adaptation targets and the need for finance, technology and capacity-building support to achieve them.