Title: The key issues of COP28: assessment of climate commitments and creation of the “loss and damage” fund
Introduction :
The 28th United Nations Climate Conference, COP28, is currently taking place in Dubai, United Arab Emirates. This edition marks a major turning point, since it is an opportunity for participating countries to take stock of their commitments since the signing of the Paris agreement in 2015. The objective of this agreement is to limit global warming to +1.5°C, even 2°C. Beyond the discussions and negotiations, one of the major challenges of this COP28 is the realization of the “loss and damage” fund, intended to support vulnerable countries facing the consequences of climate change.
Assessment of climate commitments:
Since the signing of the Paris Agreement, countries have made commitments to reduce their greenhouse gas emissions and contribute to the fight against global warming. This COP28 is an opportunity to take stock of these commitments and measure their impact. Rich countries, which are historically most responsible for climate change, must also pay their climate debt to countries in the South.
Creation of the “loss and damage” fund:
One of the crucial points of this COP28 is the creation of the “loss and damage” fund, intended to compensate vulnerable countries in the face of the climate disasters they face, and which are often the direct result of global warming. This fund aims to help countries deal with irreversible damage caused by storms, floods, droughts and rising ocean levels. However, despite the efforts made, the amounts allocated to this fund remain largely insufficient compared to the needs of vulnerable countries.
The challenges and issues:
COP28 is also marked by major challenges and issues. First of all, the question of conflicts of interest is raised, particularly with regard to the president of COP28, who is the CEO of an oil company. NGOs denounce the influence of fossil fuel lobbies in climate discussions. Furthermore, the question of the climate debt of rich countries towards the countries of the South remains a crucial issue. The amounts allocated to the “loss and damage” fund are far from covering the needs of vulnerable countries, which face costs estimated at nearly $580 billion per year by 2030.
Conclusion :
COP28 constitutes a crucial meeting to assess countries’ climate commitments since the signing of the Paris Agreement in 2015. The creation of the “loss and damage” fund represents an important step forward in the recognition and support of vulnerable countries facing to the consequences of climate change. However, many challenges remain, notably regarding conflicts of interest and climate debt. The mobilization of all stakeholders is necessary to face these challenges and to implement concrete actions in favor of the climate.