The United Nations Climate Change Conference (COP28) concluded today in Dubai with a final agreement that falls short on delivering the change needed to effectively fight climate change.
The implementation of the Loss and Damage fund on the first day of the conference signaled that it was possible to come to a historic agreement to protect the planet and its people, but the final decisions demonstrate a lack of ambition and commitment from world leaders.
David Nicholson, Mercy Corps Chief Climate Officer, says:
“While there are some promising steps within the COP28 outcomes, such as the agreement to transition away from fossil fuels and operationalize the Loss and Damage fund, the conference failed to take the decisive action needed to implement and fund these changes equitably, considering the historical responsibilities of polluters. Once again this COP failed to prioritize action on adaptation, which is a lifeline for women, men, and children who are losing their homes and livelihoods because of the climate crisis. We needed bigger steps towards integrating the Loss and Damage fund into the new climate finance goal, grounded in the principle that countries responsible for the climate crisis should be the ones providing the finance.
“Climate finance played a central role in COP28 negotiations against a context of eroding trust, with developed countries still failing to fulfill their existing climate finance commitments and seeking to weaken responsibility for future financial commitments. In particular, adaptation finance, pledged to double since COP26 in Glasgow, lags behind growing needs, posing challenges for climate-vulnerable communities.
“While the Global Stocktake does recognize the growing adaptation finance gap, as well as the need to provide public and grant-based finance to close this gap, more is needed to ensure communities – in particular those living in fragile and conflict-affected countries – can adapt and thrive. Unfortunately, the Global Goal on Adaptation, adopted at COP28, does not reflect the urgency we need and lacks any form of accountability from developed countries.
“Despite incremental progress, COP28 fell short of meeting the urgent needs of a world on the brink of 3 degrees of warming, and failed to mobilize transformational change in adaptation, mitigation, finance, and beyond. The world expected a giant leap forward in ambition and urgency, and the result of COP28 is deeply disappointing, especially for millions whose existence is directly threatened by the impacts of climate change. The responsibility now lies with leaders to heed the call for a more substantial and equitable response as we look toward COP29 in Baku.”
