The upcoming COP28, which will be hosted by the United Arab Emirates, is significant considering the country’s reliance on high-emission fuels. The challenge is to balance the need for a faster shift away from these fuels with the requirements of sustainable development and alternative energy sources.
The United Arab Emirates, as the eighth-largest global oil producer and one of the highest per capita emitters in the world, faces a crucial question of transitioning away from high-emission fuels while also supporting economic transformation.
While the UAE is happy to host COP28, it’s unclear whether the country is willing to reduce its dependence on oil resources. Additionally, it’s uncertain if the UAE is committed to decreasing its emissions in pursuit of a global goal as outlined in the Paris Agreement.
Despite being a rich nation, the UAE is impacted by climate change and is part of the Global South, aligning with countries that see climate change as a challenge resulting from cumulative emissions. Addressing climate change means bearing a massive cost to economies and sacrificing development for a clean energy transition.
The COP28 presidency will have to deal with several major tasks, including getting agreements on the Global Stocktake of climate action, consensus on the Global Goal on Adaptation, setting up the Loss and Damage Fund, and advancing climate finance commitments beyond 2025.
Discussions on finance are expected to move slowly, with the need to mobilize significant funds to support the clean energy transition by 2030. Achieving the net-zero goal by mid-century requires even more effort and collaboration with governments and financial institutions.
The Global Stocktake and the Loss and Damage Fund will test the presidency’s ability to remain neutral while adhering to the principles of the Paris Agreement. The recent attendance of the UAE at the G20 summit in Delhi indicates that climate change and energy transition have been key topics of discussion.
The G20’s support for global emission reduction targets and scaled-up finance will likely influence the discussions at COP28. However, the fractured debate over future action and the differing viewpoints on fossil fuel phaseout will pose challenges for the presidency to seek concessions from member countries.
While options to triple global renewable energy capacity and double energy efficiency rates have been raised within major economies, the implementation of such targets may face obstacles, especially concerning carbon capture and storage technology. Promising initiatives on clean technologies, including the Green Hydrogen Innovation Centre and Global Biofuel Alliance, may impact international efforts in the medium to long term.
With the Global Stocktake signaling a lack of progress in meeting the climate change challenge, the UAE’s role as host of COP28 will be vital in assuring the world of its commitment to achieving emission cuts and consensus on increased climate finance for developing economies. — 360info
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RR Rashmi is Distinguished Fellow at The Energy and Resources Institute (TERI), New Delhi and a former Indian climate change negotiator. Originally published under Creative Commons by 360info.
