On the day of the inauguration Cop28 Dubaithe 2023 United Nations climate conference, the agreement was closed to operationalize the Losses and Damage fund, which had the green light last year after decades of negotiations: compensation will be awarded to the countries most vulnerable to the climate crisis for climate losses and damage. Positive news already accompanied by a “but”: the figures are very limited.
To give an example, the 2022 floods in Pakistan, according to the World Bank, caused damage of at least 30 billion dollars and here the estimated funds raised are $225 million. All this with the addition of the continuous increase in temperatures: 2023 will be the hottest year ever recorded, with the average global temperature rising by 1.4 degrees.
There always seems to be a “but” in climate-related issues, always a distinction: objectives are set, but they are not accepted by all countries; funds are approved, but less and less than necessary is given; conferences are organised, but not everyone participates, indeed the most polluting countries are missing.
Global stocktake
In Dubai, we take stock of the 2015 Paris agreements: in particular the so-called Global Stocktake (GST) of greenhouse gas emissions. The GST is a mechanism provided for by the Paris Agreement, which provides for the review every 5 years of the commitments made by the nations adhering to the agreement to reduce the emissions for which they are responsible.
Oil
COP28 is taking place in a country that has based its wealth on oil and the choice of Dubai has been highly contested by activists. For experts, however, they are necessary interlocutors. Chiara Martinelli, director of Climate Action Network Europe, explained to Wired that it will be a success if there will be a concrete commitment in the final declaration to the elimination of all fossil fuels.
Funds for poor countries
The environmentalists’ request is real funding for all poor countries: fair funded future. The proposal is to broaden the donor base: donations based on what has historically been polluted.
Fake news
The battle is open on fake news on the climate: from denialism to false news on solutions that are not solutions to the climate crisis. The problem of these years is to understand the correlation between climate, economic and social issues.
Source: Vanity Fair
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