The UAE Consensus: A Win-Win for All

Abu Dhabi [UAE]: The COP28 Summit in Dubai is a ‘watershed moment’ in the fight against climate change as it is the first time that the global leaders have agreed on a historic set of measures outlining a solid plan towards the 1.5 degree Celsius target, Mohamed Jalal Alrayssi, the Director-General of Emirates News Agency-WAM said in an article.

He stated that over 30 years ago, world leaders in Rio de Janeiro sensed the danger of the climate crisis faced by humanity. But, the sense of danger was not enough at that time, as the Earth Summit, for which they chose an “emotional title”, was “devoid of any commitments” and was dominated by multiple wills and divergent interests.

However, the good thing was the agreement on the periodicity of holding the summit under the banner of the United Nations, WAM reported.

Since then and as past COP editions laid important groundwork, COP28 stands as a “watershed moment” in the fight against climate change. For the first time in around three decades, the conference yielded ‘concrete and realistic’ commitments from nations around the world.

According to the author, this momentous achievement reflects the unwavering commitment of the COP28 Presidency to inclusivity and ensuring that everyone is heard, and all views are considered.

This is the first time world leaders, international and non-governmental organisations, and business leaders have agreed on clear and specific outlines to save the planet after marathon discussions that needed to go into overtime. Upon ending, the discussions gave birth to ‘The UAE Consensus’, a historic set of measures outlining a solid plan to keep global temperatures below 1.5 degrees Celsius, which has been described as a victory for multilateralism and climate diplomacy with all countries agreeing on this shared target in a world first, the UAE-based news agency reported.

Solid Commitments
UAE’s COP28 scored an early win on the global event’s first day when nations agreed to put into operation the loss and damage fund and triple global renewable energy capacity by 2030. The landmark deal is set to help the world’s poorest and most vulnerable countries pay for the irreversible impacts of climate disaster.

On the second day, President Sheikh Mohamed bin Zayed Al Nahyan announced the launch of ALTERRA, a new investment platform aimed at driving private capital towards climate investments and improving access to climate finance in emerging markets, with a particular focus on the Global South. The new platform is the largest investment vehicle for climate change action. It aims to mobilise USD 250 billion globally by 2030.

Until December 11, COP28 has mobilised over USD 83 billion in funding, setting the pace for a new era in climate action. These include the first-ever declarations on food systems transformation and health, plus declarations on renewable energy and efficiency, as well as initiatives to decarbonise heavy-emitting industries. Eleven pledges and declarations have been launched and received historic support, WAM reported.

These commitments are characterised by their comprehensiveness and for the first time include food systems, health, renewable energy, and carbon removal, Alrayssi added.

Shared Commitment Clear Path Forward
COP28 served as a powerful testament to the world’s collective commitment to tackling the climate crisis. Through collaboration and shared responsibility, a previously unclear path forward has been illuminated. All nations and peoples have been called upon to do their part in ensuring that the critical goal of limiting global temperature rise to 1.5 degrees Celsius remains within reach.

To bridge the gap between ambition and reality, COP28 engaged all stakeholders in the negotiations, rebuilding trust within a framework of transparency, clarity, and fairness, WAM reported.

A Pragmatic Approach
COP28 embraced a pragmatic approach, prioritising effective and robust policies that achieve carbon neutrality and zero emissions while simultaneously fostering economic growth. This recognises that climate action drives growth and prosperity, and conversely, economic prosperity enables further investment in achieving net-zero emissions.

A Decisive Decade
Despite diverse international perspectives and visions on achieving the UN’s carbon neutrality goal and compensating developing nations, COP28’s Presidency successfully delivered a clear message: “The current decade is critical for achieving climate objectives. We must overcome existing obstacles and shift from discussions to concrete action, particularly in mitigation, adaptation, climate finance, and addressing loss and damage.”

The urgency of reaching a just and equitable agreement was consistently emphasised. There was no room for failure or delay; decisive action is essential! the author added.

Business Leaders
COP28 embraced inclusivity, bringing together nations, international and non-governmental organisations, and recognising the vital role of business leaders and energy stakeholders. By including these crucial actors, who represent both the challenge and the solution, COP28 established itself as the most inclusive and impactful climate conference to date.

Health, Legislation Religions
For the first time, COP28 officially included health, international parliamentarians, and religious representatives. Health took centre stage, with dedicated discussions and collaborations. Additionally, the Inter-Parliamentary Union held its meetings concurrently and on-site, highlighting the shared responsibility between the executive and legislative branches in tackling climate change, WAM reported.
Post-COP

The landscape is set to shift dramatically after COP28. Notably, a historic climate commitment that recently emerged from China and the United States, to reduce methane and other non-carbon dioxide gases across their entire economies marks a significant step forward in tackling global emissions.
“The consensus reached between the US and China is a significant moment ahead of COP28,” said the COP28 President. “It clearly signals that despite global challenges, COP28’s call for climate action is uniting parties and raising ambition.”

COP28 has set a new standard for successful climate conferences to come. Leveraging the UAE’s expertise and strong international relationships, the event provided an exceptional experience, praised by participants as the most inclusive and impactful to date. This success is a crucial turning point in our collective fight against climate change, signalling a renewed sense of hope and momentum for our planet’s future, Alrayssi stated in his piece in Emirates News Agency-WAM.