The final document of the Emirati presidency, which was later adopted, was presented in Dubai last week. The aim is to reduce global emissions by 43 percent by 2030 compared to 2019, it says.
This is also what the scientific community is calling for. The next few years are considered crucial to limiting global warming to 1.5 degrees compared to pre-industrial levels.
The paper therefore clearly states that efforts to achieve a greenhouse gas-neutral world must be accelerated in this decade. The phase-out of fossil fuels was the main point of contention throughout the two-week conference in Dubai in December 2023.
The tension between old and new, more environmentally friendly paths was particularly evident in the heated debate about the future of fossil fuels. The role that coal, oil and natural gas should play in the coming decades is at the centre of this year’s climate conference. With a share of around 80 percent, they still dominate the global energy system. With more than 75 percent of global greenhouse gas emissions, they are by far the biggest contributor to man-made climate change according to the UN.
Your Wealth, Our Priority: Altoo's Consolidation Power, Secure Document Management, and Seamless Stakeholder Sharing for High Net Worth Individuals. Preview Platform.
The USA and China, the two largest emitters of greenhouse gases, signalled their support in a joint declaration. One thing is certain: without the participation of Washington and Beijing, no progress can be made in climate policy—neither in the conference rooms nor in the real world. However, many countries, especially emerging economies, do not want to be dictated to as to how and with which technologies they should master the energy transition in the coming years. Meanwhile, some countries, including the USA, are forging joint commitments to strengthen nuclear energy. (Source: World Bank, Climate Watch Data)
Furthermore, European legislators sought to guarantee that no technical loopholes for the energy industry exist in the resolutions. They want to accelerate the transition to renewable energy, energy efficiency, and other environmentally friendly technology. As a result, countries throughout the world should be encouraged to triple their renewable energy capacity and improve energy efficiency.
Key Highlights of the Draft Agreement
01 Clear Commitments to Action
The revised draft emphasises that nations “should” take specific steps to address climate change, such as tripling renewable power and enhancing energy efficiency. This departure from the earlier version, which presented these actions as optional, signals a stronger push towards emissions reduction.
02 National Autonomy
Acknowledging the diversity of nations, the draft recognizes that countries should pursue climate action in a “nationally determined manner.” This flexibility allows each nation to tailor its approach to meet its unique circumstances while contributing to global efforts.
03 Transitioning Away from Fossil Fuels
The key shift in the draft focuses on urging countries to start “transitioning away from fossil fuels in our energy systems” in a just, orderly, and equitable manner. This aligns with the scientific imperative to achieve net-zero emissions by 2050.
04 Inclusivity for Developing Nations
The draft addresses the concerns of developing countries, emphasising the need for financial support and technology transfer as essential components of effective climate action. This recognition underscores the importance of inclusive global efforts.
05 Carbon Phase-Out
The agreement calls for a rapid phase-down of non-decreasing carbon use and urges nations to limit the permitting of carbon power generation. This reflects a heightened commitment to reducing emissions from one of the most carbon-intensive energy sources.
06 Global Efforts towards 1.5°C Pathways
The draft recognizes the urgency of achieving deep, rapid, and sustained reductions in greenhouse gas emissions, aligning with the 1.5°C pathways outlined in the Paris Agreement. This is a positive step towards meeting the collective goals of the international community.
Frequently asked questions
01 What was the starting position for this year’s World Climate Conference in Dubai?
Global efforts to limit global warming to 1.5 degrees or 2 degrees by the end of the century are increasing. However, they are nowhere near enough to avert climate change.
The study published a few days before the World Climate Conference in Dubai showed a further increase in greenhouse gas emissions of 9 percent by 2030 compared to 2010. Only a few countries are on course to achieve the 2-degree target or even the 1.5-degree target. Denmark, Sweden, and Norway are at the top of the Climate Protection Index, which was presented by several environmental protection organisations last year.
The countries are ranked fourth to sixth, mainly thanks to major progress in the expansion of renewable energies and good climate policy. Places one to three remained vacant.
02 How did the World Climate Conference in Dubai get off to a good start?
The nations agreed on the new climate damage fund on the first day of talks. There were also financial commitments, with Germany and the United Arab Emirates each pledging $100 million. Italy and France followed suit with 100 million euros on December 1, 2023. Additional guarantees came from the United Kingdom, Japan, and the United States, among others, but not from Switzerland. The commitments were seen as a diplomatic win for the Emirates. However, while the signalling impact is significant, the quantities are far from enough. Activists called the American contribution of $17.5 million “ridiculous.”
03 What are the most important instruments for reducing emissions?
Greenhouse gas emissions must be drastically reduced over the next few decades. The transition to a climate-neutral economy, i.e. without the use of fossil fuels, is necessary in order to achieve the goals of the Paris Climate Agreement. Governments must set the political and economic framework conditions for this. This is primarily about:
- market-based incentives
- political regulations
- compensation for emissions
- behavioural changes
- judicial coercive measures
04 How far has Switzerland come in terms of climate protection?
Compared to 1990, greenhouse gas emissions in Switzerland have been reduced by 15
percent – despite the fact that the resident population has increased by 27 percent since then. The reduction per inhabitant is actually around a third. This puts Switzerland in 14th place out of 58 countries assessed according to the Climate Change Performance Index 2021 when it comes to implementing the Paris climate goals.
Nevertheless, the country still has a long way to go. The interim target of reducing greenhouse gas emissions by 20 percent by 2020 compared to 1990 was narrowly missed. If Switzerland continues at the current pace, it will also miss the other targets. Without additional efforts, Switzerland’s greenhouse gas emissions in 2050 would be around 60
percent above the limits of the Paris Climate Agreement.
Transport (excluding international air and sea transport) accounts for the largest share of total greenhouse gas emissions in Switzerland, followed by buildings, industry and industrial processes such as cement production and agriculture.
05 Where do we stand on the climate targets of the Paris Agreement?
Global attempts to restrict global warming to 1.5 degrees Celsius or 2 degrees Celsius by the end of the century are ramping up. They are, however, insufficient to stop climate change. A review of the most recent national climate plans (NDC), issued only days before the World Climate Conference in Dubai, revealed a 9 percent rise in greenhouse gas emissions by 2030 compared to 2010. (Source: Mercator Institute)
Source and Inspiration: About COP 28 | UNFCCC
We think you might like
In case you missed it
