Day 6 of the UN COP28 climate summit in Dubai was marked by a concentrated focus on the critical theme of Energy. At the forefront of discussions was the pivotal question concerning the future trajectory of fossil fuels: Should there be a phased-out approach, a phased-down strategy, or perhaps no change at all? This pivotal inquiry, encapsulated in the 24-page draft Global Stocktake agreement unveiled on Day 6, outlined all three possibilities, underscoring the complexity of the decision-making process. The resolution to this question, central to COP28, is anticipated to unfold only on the summit’s concluding day.
The draft agreement notably emphasizes the imperative of enhancing carbon capture and storage (CCS) and advancing “low-carbon” hydrogen production throughout the current decade. Widely perceived as a comprehensive document laying a solid foundation for future actions, its adoption ultimately hinges on achieving consensus among the participating nations.
A noteworthy aspect of Day 6 was the substantial presence of the oil and gas industry, with approximately 2400 delegates contributing to the summit. While this represents just over 2% of the total participants, it sparked controversy, leading to headlines such as “COP28 Talks Flooded by Fossil Lobbyists.” Amidst these debates, the day featured high-profile events, including commitments from over 50 oil and gas companies to achieve “near-zero” upstream methane emissions and zero routine flaring by 2030. Additionally, they pledged to attain net-zero emissions from their operations by 2050.
Amid the urgency to curb emissions, the Global Carbon Project released a report projecting a 1.1% increase in global CO2 emissions from fossil fuel combustion compared to 2022. This underscored the critical need for decisive action.
Several initiatives and pledges marked the day, with a significant focus on decarbonization efforts. The Industrial Transition Accelerator (ITA) roundtable brought together senior representatives from high-emission industries, emphasizing a cross-sectoral approach to drive energy system decarbonization.
In a historic move, 60 countries signed the Global Cooling Pledge, committing to improve energy efficiency, reduce emissions, and enhance access to sustainable cooling. Recognizing the escalating energy demand for cooling, this commitment aims to address the potential tripling of demand by 2050.
The declaration of intent to prioritize the commercialization of green hydrogen projects and pursue mutual recognition of hydrogen certification schemes highlighted a growing global commitment to cleaner energy solutions.
The EU Energy Days event, hosted by the European Union, focused on implementing the clean energy transition, aligning with the pledge made by 121 countries to triple renewables and double energy efficiency by 2030. Notably, 22 countries, led by the UAE, France, and the US, agreed to triple nuclear energy by 2050, with the US unveiling a global nuclear fusion strategy as a groundbreaking step towards commercializing nuclear fusion power.
Amidst calls for phasing-out or, at a minimum, phasing-down fossil fuels, notable dissent emerged from major players like Saudi Arabia, China, India, and other oil and gas-producing nations. Despite this divergence, COP28 witnessed significant commitments on emission reduction initiatives, low-carbon energy uptake, climate-resilient health systems, climate finance, and measures to expedite the energy transition. The focus must now shift to translating these commitments into tangible actions, with success contingent on transparency and accountability. The draft Global Stocktake agreement stands as a pivotal document, providing a framework for achieving ambitious outcomes at COP28.
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
