TERI @ COP28

Commencing November 30, Dubai is set to host COP28, the annual Conference of Parties (COP) on climate change negotiations orchestrated under the United Nations Framework Convention on Climate Change (UNFCCC).

COP28 will center its attention on crucial facets including mitigation, adaptation, loss and damage, and finance. There will be a pronounced emphasis on fortifying commitments for emission reduction to counter the concerning trajectory of global warming. Climate finance, an essential concern, necessitates the mobilisation of funds and a revamp of the global financial system to bolster climate action. Addressing mistrust between the northern and southern hemispheres and advocating for the transformation of climate finance to ensure a "fair and inclusive global energy transition" are the key aspects requiring attention during COP28.

Among the salient points commanding attention are the fulfilment of unmet promises such as the $100 billion pledge, full replenishment of the green climate fund, a twofold increase in adaptation finance, and the complete operationalization of the fund for Loss and Damage at COP28.

The UAE conference will also introduce a "global stocktake," (GST) wherein participating nations will present reports on their progress in meeting voluntary emissions reduction commitments and engage in discussions about strategies to bridge existing gaps. The success of COP28 hinges on the effectiveness of the GST, designed to assess progress toward limiting global warming to 1.5 degrees Celsius above pre-industrial levels. The GST provides not only course correction but also a tangible roadmap to 2030, demanding unprecedented collaboration and support at the highest echelons.

Another critical topic for consideration during COP28 involves discussions surrounding the framework known as the Global Goal on Adaptation (GGA) under the Glasgow–Sharm el-Sheikh (GlaSS) work programme. The Provisional Agenda for COP28, item 8(a) of CMA (Conference of the Parties serving as the meeting of the Parties to the Paris Agreement) will consider GGA. Additionally, GGA will be addressed in joint agenda items 3(a) of the Subsidiary Body for Scientific and Technological Advice (SBSTA) and 12(a) of the Subsidiary Body for Implementation (SBI).

India, alongside other developing nations, advocates for a new global climate finance target, recognising the escalating costs associated with addressing and adapting to climate change. It is anticipated that India, as it during the G20 Presidency, will play an influential role in delivering a clear political framework and shaping the expected outcomes at COP28.

The UAE and India share a common vision for embracing an energy transition aligned with sustainable socio-economic development. This vision has laid the groundwork for The Energy and Resources Institute (TERI) to undertake pertinent climate-related actions, contributing significantly to a sustainable future.

Viewpoint on COP28 Outcomes

Expressing her perspective on the key takeaways of COP28, Dr Vibha Dhawan, Director General, TERI, said, “The outcome of the COP28 singles out coal and leaves space for oil and gas as transition fuels. While we would have liked a language covering all fossil fuels, I think now it is important for India to focus on biofuels. Similarly, methane emissions are now part of the decision and we would eventually need to think strategically about the agriculture sector and waste management. Based on TERI's experience with technology development and deployment, I can say that it is time to bring options like nano-fertilizers to the center of our low-carbon development strategy. I also think that the Green Credit initiative will be an important instrument in thinking about innovative approaches for green development.”

Sharing his perspective, Mr Ajai Malhotra, Distinguished Fellow, TERI, said, “The acceptance by COP28, following the first ever Global Stocktake, of a ‘just, orderly and equitable’ transition away from fossil fuels reflects a realistic and levelheaded approach, while its calls for enhanced renewable energy capacity and greater energy efficiency are welcome. However, the climate finance trajectory emerging from COP28 has been disappointing. While the Loss and Damage Fund has been operationalised, pledges to it have been microscopic, as have those to the Green Climate Fund, Adaptation Fund and other multilateral climate funding mechanisms.” He further added, “Overall, there is an enormous gap between climate finance needs and availability of new and additional funding to developing countries. Going ahead, this may impinge on their on-boarding of more ambitious national climate plans and adaptation measures. Developed countries must fulfill past commitments, while agreement needs to be reached at COP29 in Baku next year on a new, enhanced climate finance goal. This is more so as Paris Agreement temperature goals are not on track to be met and we are falling behind in adequately responding to the climate disruption and global heating challenge confronting our planet.”

Mr Manjeev Singh Puri, Distinguished Fellow, TERI, said “COP28 has pushed the mitigation agenda across all fossil fuels but especially coal, though in a manner that recognizes equity and fairness and leaves room for development. Methane has now become an issue that India will have to pay more attention to from now onwards.”

“The most significant step taken at UAE COP is to admit the need for orderly and just transition of all fossil fuels in all energy systems. What is disappointing however is that it singles out the need of phasing down unabated coal power while giving gas and oil a little longer rope. This tilts it against the emerging economies. While the Global Goal on Adaptation has been finalised as expected, the adaptation targets are all about planning, implementing, and monitoring. There is little about support. In fact, the financing decisions are very weak and leave everything to future, thus increasing the burden of action on developing economies”, said Mr RR Rashmi, Distinguished Fellow, TERI.

“COP28 marked a significant stride in recognizing the pivotal role of subnational governments in combating climate change. The heightened involvement of local leaders in the COP28 Local Climate Action Summit (LCAS) spotlighted the indispensable role local leaders play in propelling national efforts to move ahead. The Coalition for High Ambition Multilevel Partnerships (CHAMP), which was launched at LCAS saw a new way for national governments to collaborate with subnational governments for developing and executing their next Nationally Determined Contributions (NDCs),” outlined Mr Sanjay Seth, Senior Director, TERI. Expressing his positive views on the Summit, he said, “COP28 also ushered a wave of fresh global commitments emphasizing multi-level action and partnerships in the transport sector. The joint statement by India and the U.S. regarding a Payment Security Mechanism (PSM) for procuring e-buses significantly bolstered the commitment to increase electric vehicles. The discussions also highlighted a growing emphasis on electrification of freight and more attention towards railways.
However, while ambitious strategies to scale climate solutions were discussed, there remained a notable gap in discussions around institutionalizing climate action and fortifying support for subnational governments in implementing these crucial measures.”

Dr Jitendra Vir Sharma, Senior Director, TERI in his crisp observation on the recently concluded Summit said, “No decision has been taken on para 6.4 of the Paris Agreement which is depriving the forest dependent communities and farmers in the developing countries from obtaining additional financial benefit of their efforts towards conservation of forests and tree plantations.”

“The outcome of the COP 28 is a work in progress, implications of which can take many directions depending on how countries choose to carry forward the so-called ‘UAE Consensus’. The reference to language like ‘unabated coal power’ marks a departure from the tradition of COP decisions not being prescriptive and being conscious of developing counties' developmental priorities,” said Dr Manish Kumar Shrivastava, Associate Director, TERI. Dr Shrivastava further elaborated, “In the absence of concrete, adequate, and predictable commitment on finance such coveted prescription is unjust. While the overall text is open for interpretation with new language, the most worrisome language is around finance. Despite all announcements related to finance, the text may very well open way to privatization of global public policy on climate finance. This is different from private finance eventually playing an important role. It allows the private finance to set public agenda on sectors relevant to adaptation and health. Overall, developing countries will have to be extremely cautious, strategic, and well prepared for the negotiations next year.”

Expressing her views on the Global Goal on Adaptation, Dr Shailly Kedia, Senior Fellow, TERI, said, “With the adoption of the UAE Consensus, parties gathering at COP28 in Dubai agreed to the first Global Stocktake (GST) under the Paris Agreement. The framework of the stocktake was an incomplete one as it took place without the Global Goal on Adaptation (GGA) being in place. Considering that climate impacts are already being felt, adaptation is crucial for all countries and especially developing countries. GGA was mandated by the Paris Agreement, and it was essential to link it to the first global stocktake. The decision on GGA does not mention the principle of Common but Differentiated Responsibilities and Respective Capabilities thereby placing burden on developing countries. The decision includes 11 targets to be achieved by 2030. Seven pertain to sectors while four others pertain to adaptation cycles. Only four targets have been quantified. It is disappointing that there are no quantified targets with respect to means of implementation.” Dr Kedia further explained, “A lot now depends on the two-year work programme for measuring progress on the agreed targets which would be carried out jointly post COP28 by Subsidiary Body for Scientific and Technological Advice and the Subsidiary Body for Implementation. A lot depends on this two-year Dubai-Baku -Belem process on the type of indicators agreed on.”

Media @ COP28

Date	Press Releases
December 5, 2023	TERI launches Act4Earth Policy Briefs during COP28 on the Energy Day
December 4, 2023	TERI Hosts COP28 Panel Discussion: Insights from IPCC's AR6 Report and Industry Leaders' Perspectives on Climate Action
December 4, 2023	Global Collaboration convene at COP28 to address climate challenges with a focus on sustainable cooling innovations
December 2, 2023	Strategies Explored in Operationalizing the Loss and Damage Fund with Equity and Efficacy
November 29, 2023	TERI experts articulate their anticipations for a favourable result at the COP28 climate summit
November 25, 2023	Road to Dubai: TERI knowledge documents highlight imperatives for the Global South on adaptation and energy transitions ahead of COP28
November 07, 2023	TERI Hosts Pre-COP28 Dialogue, Launches Road to Dubai and the Global Goal on Adaptation
October 27, 2023	TERI’s COP28 Compass Dialogue Reflected on Global South Perspectives on Climate Commitments

TERI's Presence @ COP28

Event Schedule	Discussion Topic	TERI Speakers
December 1, 2023 04:45 PM – 06:15 PM hrs (UAE Time)	Operationalizing the Loss and Damage Fund with Equity and Efficacy	Mr RR Rashmi Ms Suruchi Bhadwal Mr Amlan Mishra
December 2, 2023 12:15PM - 1:15PM hrs (UAE Time) Green Education Pavilion Al Fanar	Accelerating Climate Action through Citizen Science: Role of COP 28 and Beyond	Dr Livleen Kahlon Ms Saltanat M Kazi
December 3, 2023 10:30-13:00 hrs (UAE Time) BCG Pavilion, Green Zone	Transformative Climate Leadership for Actions on Finance, Technology, and International Cooperation	Mr RR Rashmi Dr Manish Kumar Shrivastava Mr Arupendra Nath Mullick
December 4, 2023 11:30-13:00 hrs (UAE Time) SE Room 8, Blue Zone	Global Collaboration for Innovation and Sustainable Cooling: Solutions for Market Transformation	Dr Vibha Dhawan Mr RR Rashmi Manish Shrivastava Mr Shaurya Anand
December 4, 2023 17:00-18:00 hrs (UAE Time) Climate Live Pavilion Blue Zone	Panel discussion with IPCC Chair and Indian Business Leaders	Dr Vibha Dhawan Amb Manjeev Puri Mr Arupendra Nath Mullick
December 5, 2023 13:15-14:45 hrs (UAE Time) SE Room 3, Blue Zone	Just Energy Transitions and SDGs: Tools and Enablers	Dr Shailly Kedia
December 5, 2023 15:15-16:15 hrs (UAE Time) Marrakesh Partnership Pavilion (Al Jeer Room) Blue Zone	Green Market Instruments for Industry Decarbonisation – Spotlight on Steel in Emerging Economies	Mr Arupendra Nath Mullick
December 9, 2023 10.00 am to 12.00 hrs (UAE Time) B2-20 venue	Exploring the Potential of Sub-National REDD+ Approach in India and their contribution towards SDGs	Dr Vibha Dhawan Dr Dipankar Saharia Dr Jitendra Vir Sharma Dr Yogesh Gokhale Mr Aniruddh Soni
December 9, 2023 11:30-13:30 hrs (UAE Time) Nordic Business Pavilion Blue Zone	Accelerating Multistakeholder Cooperation for Climate Actions in the Global South	Dr Vibha Dhawan Mr Arupendra Nath Mullick