Delegates celebrating the adoption of the Global Stocktake (IISD COP28 coverage)
As COP28 entered its second week, over 2000 signatories from across business, finance, philanthropy, politics, academia and civil society joined forces to call on Sultan Al Jaber and all Parties to deliver a 1.5C aligned outcome in response to the Global Stocktake - because later is too late This letter seems to have turned the tide in achieving a somewhat meaningful outcome of COP28. The letter and its signatories were projected on two giant screens outside the COP meeting venue…see 23:24 min. on this video.
While COP28 didn't achieve all that was hoped for, there were several good news items:
- The final COP28 agreement also included a commitment to triple renewable energy capacity and double the average annual rate of energy efficiency improvements by 2030.
- Commitment of nearly $800 million by rich countries to a loss and damages fund for developing countries.
- A pledge by 155 countries to reduce emissions from methane by at least 30% from 2020 levels by 2030.
- Draft regulations to cut methane leaks from Canada’s oil and gas sector 75% from 2012 levels by 2030.
- A pledge by 50 oil and gas companies to end routine flaring by 2030 as part of an oil and gas decarbonization charter.
Read more about COP28 in The Energy Mix |