In a major breakthrough at the start of the 2023 United Nations Climate Change Conference in the United Arab Emirates, nearly 200 countries have reached an agreement to establish a fund aimed at supporting nations dealing with the impacts of global warming.
Here are 10 key points about this significant development:
1. Prime Minister Narendra Modi, who arrived in Dubai on the previous night, has called for climate financing and technology transfer to developing nations. He emphasized the importance of empowering these countries to effectively tackle the challenges posed by climate change.
2. PM Modi expressed his excitement about participating in the COP-28 Summit and his anticipation for the proceedings that aim to create a better planet. He also expressed gratitude for the warm welcome from the Indian community in Dubai, highlighting the strong cultural ties between India and the UAE.
3. As part of the UN’s Conference of the Parties (COP28) on climate change, PM Modi will attend the World Climate Action Summit today. This summit serves as the high-level segment of COP28.
4. PM Modi’s involvement in COP28 goes beyond the World Climate Action Summit, as he is scheduled to participate in three additional events. Under the UAE’s presidency, COP28 will take place from November 30 to December 12. PM Modi stressed the significance of this platform in reviewing the progress made under the Paris Agreement and setting a course for future climate action.
5. The climate talks in Dubai are taking place at a critical moment, with global emissions continuing to rise. The UN recently announced that 2023 is on track to be the hottest year on record, underscoring the urgent need for immediate action. The establishment of a “loss and damage” fund, a long-standing demand from climate-vulnerable nations, marks an early success at COP28.
6. The UAE and the European Union (EU) have made initial commitments of $100 million and $246 million, respectively, to the loss and damage fund. However, these contributions fall short of the $100 billion needed by developing nations to cope with the devastating effects of climate change.
7. COP28 is set to be the largest climate conference in history, with over 140 heads of state and government in attendance. This represents double the number of participants compared to last year’s COP27. High-level leaders will deliver speeches throughout Friday and Saturday, with Britain’s King Charles III officially opening the event with a ceremonial address.
8. The UAE aims to lead an agreement to triple renewable energy capacity and double the annual pace of energy efficiency improvements by 2030. Experts have warned that building trust among nations could prove to be a significant challenge during the crucial negotiations from November 30 to December 12.
9. As the conference began, delegates observed a minute of silence to honor the innocent lives lost in Gaza. On the sidelines of the summit, Israeli President Isaac Herzog met with his UAE counterpart, Sheikh Mohammed bin Zayed Al Nahyan. Palestinian President Mahmud Abbas was initially scheduled to attend COP28, but his office announced that the Palestinian foreign minister would attend in his place.
10. Despite being the world’s two largest polluters, the leaders of the United States and China are not attending COP28. However, both nations have issued a joint climate declaration ahead of the conference in a rare display of unity.
The establishment of the support fund and the participation of world leaders at COP28 signal a significant step forward in the global fight against climate change. The conference will continue to address crucial issues and work towards a sustainable future.
