COP28: What Was Agreed?

18 Dec, 2023

World leaders have reached a new agreement to tackle climate change at COP28.  Here’s what you need to know:

What was COP28, and why is it important?

COP28, the 28th annual UN Climate Change Conference of the Parties, gathers nearly 200 countries to address issues related to climate change. It was held in Dubai, which sparked controversy due to the UAE’s status as a major oil-producing nation, with fossil fuels a key contributor to greenhouse gas emissions. The agenda this year would focus on: 

• Fast-tracking the energy transition and slashing emissions before 2030.  
• Delivering on old promises and setting the framework for a new deal on finance.  
• Putting nature, people, lives and livelihoods at the heart of climate action.  
• Making COP28 the most inclusive COP ever.  

To understand more, read our earlier blog post on COP28 and the Climate Challenge.    

Key Agreements Reached: 

Transitioning Away from Fossil Fuels 

A groundbreaking achievement emerged from COP28 as nearly all countries agreed to ‘transition away from fossil fuels in energy systems’. 

Despite the absence of specific timescales, the agreement states this should be done in an ‘orderly and equitable manner’. Moreover, it includes global targets to triple renewable energy capacity (like wind and solar power) and double the rate of energy efficiency improvements by 2030. 

Establishment of a Geographically Diverse Board 

In a move to support vulnerable nations affected by climate change, an agreement was reached to establish a geographically diverse board. 

This initiative has already generated over $650 million in pledges from wealthy nations during the conference.  

Adapting to Climate Change Impacts

Continuing the theme of COP27, there was an emphasis on supporting strategies for adapting to the impacts of climate change. As part of this, there were calls for a doubling in adaption finance and plans for assessments and monitoring of adapting needs in the coming years. Further details and expectations may surface in COP29.  

Will this have an impact on climate change? 

The decision to transition away from fossil fuels is a landmark achievement and represents a significant leap forward in climate action since the 2015 Paris Agreement. However, the absence of specified timelines raises concerns about its potential impact. In addition, the agreement focuses on energy systems but not other areas such as plastics, transport or agriculture. Whilst progress is evident, it appears incremental rather than transformative.    

Understanding Net-Zero Targets 

The complexity surrounding net-zero targets Is evident in a recent survey from the British Chamber of Commerce, revealing that 40% of UK businesses are struggling to understand net-zero targets. 

This short webinar with our referral partner, JRP Solutions, offers practical advice and guidance to develop a roadmap towards Net Zero Greenhouse Gas Emissions.  

How can ISO 14001 help you reach net zero? 

Whilst ISO 14001 Environmental Management does not require you to calculate your carbon emissions, it does provide a framework to understand your direct and indirect emissions sources. In addition, it also considers the lifecycle of your supply chain’s environmental impact, which is useful when trying to reduce your Scope 3 emissions. If you are interested in learning more, call our team on 0330 058 5551.