On the fifth day of the UN climate conference in Dubai, the discussions deepened, centering prominently on the intricate nexus of finance and gender-related issues. Euronews Green, committed to providing extensive coverage, diligently captured the day’s multifaceted events, ensuring an informed overview for its attentive audience.
The day, however, was not devoid of controversy, as the president of COP28, Al Jaber, injected a provocative element into the discourse. His remarks questioning the viability of a fossil fuel phase-out for sustainable development sparked intense debate. Characterizing such a transition as regressive, he expressed concerns about the potential regression into a less developed era, adding an element of tension to the proceedings.
Adding to the charged atmosphere was a report from The Guardian highlighting comments made by the CEO of Adnoc during an online event on November 21. In response to the resulting uproar, the COP28 presidency swiftly organized an impromptu press conference. During this session, Al Jaber sought to reassure the attendees, emphasizing the commitment to scientific principles and the paramount importance of responsible decision-making in navigating the complexities of climate action.
Amidst these controversies, the conference engaged deeply with pivotal issues, including finance, trade, gender equality, and accountability. Notably, a significant initiative emerged on the global stage with the introduction of the ‘Gender-Responsive Just Transitions & Climate Action Partnership.’ This initiative garnered support from over 60 participating parties and unveiled an ambitious three-year plan. The plan aimed to address the disproportionate impact of climate-related job losses on women, shining a spotlight on a critical facet of climate action often overlooked in broader discussions.
As discussions unfolded, the conference underscored the intricate interconnectedness of financial strategies, gender considerations, and the imperative for accountability. The day’s events highlighted the collective effort to navigate complexities, ensuring that the pursuit of a sustainable future remains inclusive, just, and responsive to the multifaceted challenges posed by climate change.
A standout commitment came from the UAE Banking Federation, which pledged to mobilize a staggering $270 billion by the year 2030. This financial commitment is poised to play a crucial role in advancing sustainable initiatives and combating climate change on a substantial scale.
Providing an overarching perspective, COP28 UAE reported that the summit had successfully mobilized over $57 billion thus far. This financial momentum was attributed to the combined efforts of governments, businesses, investors, and philanthropists who, in the first four days of COP28, delivered an impressive total of eight pledges and declarations, signifying a historic level of commitment to climate-related causes.
Meanwhile, the Director-General of COP28 highlighted proactive measures taken to operationalize the Loss and Damage Fund. Notably, commitments to the fund and funding arrangements surpassed $720 million, underscoring the global community’s dedication to addressing the adverse impacts of climate change.
In a move reflecting the magnitude of collective commitment, there was a noteworthy replenishment of the Green Climate Fund, amounting to $12.5 billion. This financial injection stands out as the largest-ever replenishment in the history of the Green Climate Fund, signaling a robust international effort to provide the financial resources necessary for climate mitigation and adaptation.
Beyond climate-focused funds, COP28 also saw significant contributions directed towards broader health and humanitarian goals. Countries and global donors pledged a substantial sum exceeding US$777 million to combat neglected tropical diseases, to improve the lives of a staggering 1.6 billion people. This multidimensional approach emphasizes the interconnectedness of climate action with broader global challenges, showcasing a comprehensive commitment to fostering a sustainable and equitable future.
About National Carbon Monitoring Centre (NCMC)
The National Carbon Monitoring Centre is a vehicle for reporting on carbon stocks and their changes as well as coordinating the national MRV processes for the Government of Tanzania. The goal of the Centre is to enable Tanzania to actively participate and benefit from possible future international carbon trading mechanisms to reduce greenhouse gas emissions.
The core services of the Centre are:
- To manage, develop, and sustain operations of the national GHG inventory and REDD+ MRV systems and facilitate validation of results for the UNFCCC and International community in collaboration with VPO;
- To maximize the usefulness of the data generated and develop different programmes and projects with technical GHGs and REDD+ MRV components and define steps in MRV training, research, consultancies and dissemination
- To coordinate national GHG inventory and national forest inventories
- To harness available national capacity and support from regional and international expertise to operationalize the GHGs and REDD+ Inventory System; and
- To advise policies related to GHG emissions and mitigation actions.
For more information visit NCMC
