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COP28 recently concluded in Dubai, leaving behind a wealth of opinions and analysis on the impact and progress achieved during this crucial climate summit.
In his speech after the signing of the agreement, the president of COP28, Sultan Al Jaber, stressed the importance of moving from words to actions.
He stressed that, although the agreement is historic and balanced, it is essential to turn it into tangible actions to stop the climate crisis as soon as possible.
Reactions to COP28 have been mixed. Simon Stiell, Executive Secretary for Climate Change of the United Nations, said that although the era of fossil fuels is not completely closed, this result marks “the beginning of the end”.
Ursula von der Leyen, president of the European Commission, described it as the beginning of the “post-fossil era”.
Greenpeace Africa considered the agreement a hopeful step, but highlighted the need for tangible actions, especially in communities affected by climate change.
Professor Nick Robins of the Grantham Research Institute called it “historic but inadequate” not to exceed the 1.5°C limit.
Despite criticism, COP28 made significant progress on mitigation commitments.
Explicit mentions of the fossil fuel transition, the objective of tripling renewable energy capacity and doubling the improvement in energy efficiency by 2030, as well as the acceleration of the reduction of methane emissions stand out.
As for climate finance, the loss and damage fund was specified, although its initial endowment was symbolic.
However, more than $85 billion in public-private funds were mobilized, including the $30 billion Altáerra fund, led by the United Arab Emirates, Blackrock, TPG and Brookfield.
COP28 also promoted both governmental and business commitments and plans.
Highlights include the oil and gas decarbonization charter, the industrial transition accelerator (ITA), and the Global Cooling Pledge to reduce cooling emissions by 68% by 2050.
Despite these advances, it is clear that the necessary profound transformation has not yet been achieved.
The question persists: are we really making progress with these annual summits and current global governance?
The answer, according to the final text of COP28, indicates that some progress has been made since the Paris Agreement in 2015, but there is still a long way to go.
In the words of the president of COP28, “We are what we do, not what we say”, so action must be taken as soon as possible.
The actual evaluation of COP28 will depend on how these agreements are translated into concrete plans and policies, and on the effective implementation of the agreed measures.
