TAKING STOCK OF COP28 PROGRESS
Nathalie Hilmi holds a PhD in Economics, and is specialized in macroeconomics and international finance. In 2010, she joined the Monaco Scientific Centre as Head of the “Environmental Economics” Section. Since then, she has been at the heart of numerous projects, and is a member of many international associations related to economics and finance. She is the author of publications, articles, and contributes to the writing of recognized reports. Examples include the IPCC Special Report SROCC and AR6 WGII or the MedECC assessment report on the Mediterranean.
Dr. Nathalie HILMI, Head of the Environmental Economics Section at the Monaco Scientific Centre.
However, on Wednesday, January 31, 2024, Dr. Nathalie Hilmi gave a conference at the Monaco Scientific Centre, in view of the COP28 in which she participated.
Pr. Denis ALLEMAND, Scientific Director of the Monaco Scientific Centre and Dr. Nathalie HILMI.
The Elafonisos Eco Association, represented by Enrico Toja, had the opportunity to participate. Here are some key takeaways from COP28.
1. Regarding adaptation measures.
- The need to strengthen adaptation efforts was spelled out at the heart of the Global Stocktake (GST), which highlighted the need for “urgent, progressive and transformational adaptation efforts.”
- The Global Goal on Adaptation (GGA) has been completed and focuses on 3 crucial pillars to be enshrined in adaptation strategies: Indigenous Peoples’ Leadership, Inclusive Governance, and Social Equity.
- The COP28 decisions on adaptation, however, have been criticised for their failure to provide concrete targets, described as a set of ambiguous terms without a common understanding or aligned vision.
2. With respect to the phase-out of fossil fuels:
- COP 28 marked a momentous step towards ending the fossil fuel era with at the heart of the final agreement a groundbreaking call for the “transition away from fossil fuels in energy systems”. As a result, COP28 is reviving international cooperation, reviving hopes for a phase-out of fossil fuels, with Simon Stiell urging governments and companies to translate pledges into tangible action.
- Considerable progress has been made in the field of renewable energy.
- Celebrated by many as a “historic” agreement, it is not legally binding and remains criticized for its shortcomings. Simon Stiell sees this as the “beginning of the end” of the fossil fuel era, despite the disappointment expressed by states and non-state actors.
3. With regard to nature, especially the ocean:
- At COP28, the essential and primordial role of nature in the fight against climate change was recognized.
- Healthy ecosystems are recognized for their resilience and adaptation in the global goal of adaptation.
- The global stocktake also highlighted the importance of ocean-based mitigation and adaptation actions. This has led to various initiatives and new commitments for the conservation, preservation and protection of the ocean. However, many people have expressed concerns about the potential misuse of the ocean in order to mitigate global warming (since the ocean is seen as a carbon mitigation solution).
4. With regard to food systems:
- In particular, a declaration on sustainable agriculture was signed by more than 130 countries. At the heart of it was the undeniable role of food systems in global greenhouse gas emissions. As a result, these countries have committed to integrating food systems as well as agriculture into strategic plans, reviewing policies to improve them, increasing financing, accelerating innovations, and strengthening the trading system. Key actions planned for 2025.
- FAO presented a roadmap outlining strategies to align global food production with climate goals. The text outlines a three-year global process covering COP 28, 29 and 30.
In conclusion, the 28th UN Climate Change Conference, held in Dubai from 30 November to 13 December, faced a lot of criticism mainly about adaptation finance gaps and ambiguous outcomes. It has, however, made significant progress on the global goal on adaptation, inclusiveness and social equity considerations. In addition, the recognition of the oceans and the commitments made at COP28 are positive, despite the persistence of concerns about the dependence on the oceans for carbon mitigation and the potential negative impacts on marine ecosystems. In addition, COP28 brought together different countries to address the urgent challenges posed by climate change. The event witnessed a remarkable convergence between sectors, governments, entrepreneurs, technologists and investors. This unity has been illustrated by a commitment to innovative solutions, especially for the benefit of the most vulnerable populations. Thus, translating its various commitments into real and tangible actions is now proving to be a priority.
As COP28 lays the groundwork, attention turns to the upcoming COPs in Azerbaijan in 2024 and Brazil in 2025 to make further progress.
Link to the PowerPoint made by Dr. Nathalie Hilmi and used during her COP28 Conference: https://drive.google.com/file/d/1SOB4T3udNe3vHOOCCCdffefRMKCL1bzF/view?usp=sharing