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COP28 was the most important COP since the Paris Agreement in 2015. 2023 is the year of the Global Stocktake, halfway to 2030. Progress to date has clearly been inadequate on all fronts across countries, the private sector, technology, and finance, so there is an urgent need to go faster, starting now.
To address the Stocktake and these challenges, the COP28 President, Dr. Sultan Al Jaber, set an ambitious "Action Agenda" across energy, finance, lives and livelihoods, and inclusion.
The COP28 Presidency mobilized countries to operationalize and seed the
loss and damage fund with 792M USD and this COP finally includes bolder direct statements about the energy transition and fossil fuels in the final text, something the prior 27 COPs had failed to achieve. The results across both the Action Agenda and the
final negotiated statement (the “UAE Consensus”) have exceeded virtually all incoming expectations and lay the foundation for accelerated progress in the years ahead to tackle climate change and attempt to limit temperature increases to 1.5 C.
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