Negotiations at COP 28 have entered the final stage. But the delegates at the UNFCCC’s annual meet still have a lot on their plates. The summit began on a positive note with countries agreeing to operationalise the Loss and Damage Fund in the opening plenary. It was a hard-won victory for the most vulnerable nations, who have been demanding insurance against climate damage for at least three decades.
The triumph at Dubai is limited by the fact that the money promised so far by developed nations – about $700 million – represents a small fraction of what is needed every year. The nature and the timing of the pledged amount remains uncertain and there are fears that a major chunk of the finances will come as loans, adding to the burdens of the already hard-hit. The Dubai COP’s presidency should find ways to see that these concerns are addressed in the summit’s declaration. Failure to do so will invite questions about the UNFCCC’s will to rectify historic mistakes.
The sense of purpose of the meet’s participants is being tested on another front. The leaked contents of a letter by the Secretary General of the Oil Producing and Exporting Countries, asking members to scuttle any deal to curb fossil fuel use, has reportedly created tensions in the negotiating rooms. Till two years ago, when the declaration of COP26 agreed to “phase down” fossil fuel use, UNFCCC summits would focus on cutting down emissions without mentioning their source.
A large part of the blame for the global failure to curb fossil fuel use gets laid at the doors of India and China. This is unfair and simplistic. A distinction must be made between the imperative of lifting large sections of the Global South out of poverty and the interests of oil cartels. As the negotiators fine-tune the Dubai declaration, a major challenge before them will be to lay down a clean development roadmap that has space for the aspirations of emerging economies and developing countries.
Earlier meets of the Global Stocktake – the section of the COP that reviews the progress on the goals of the Paris Pact – have reportedly brainstormed on how best to draft the section on fossil fuels in the Dubai declaration. Two GST drafts have persisted with the Glasgow meet’s usage — “fossil fuel phase out”. However, reports have also indicated the possibility of the issue being dropped from the COP28’s declaration. That would be a big climbdown. After the euphoria of Paris eight years ago, most COPs have concluded with compromises. Another vaguely worded declaration will raise serious questions about the UNFCCC’s relevance.