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Your Climate Action Diary - 52

Year 2023 • Week 47 • Anushthatri Sharma
Hi,

We are finally here, with just 3 days to go for COP28 to begin !!

Every year, as we get closer to the finale, pledges begin to emerge. This year is no exception and we have some very promising pledges shaping in for COP28 (you will notice in this newsletter). It is still to be seen if these pledges make it to the final negotiation at COP28 - which will go on until 12th December 2023. This usually tends to be challenging considering all countries have to find a middle ground on these pledges/commitments.  

For those interested in attending COPs, you may want to know it is made up of two spaces - the Blue Zone and the Green Zone. The Blue Zone is where official negotiations & meetings take place. It's an exclusive section accessible only to registered participants, incl. government officials, delegates, representatives of intergovernmental organizations, accredited observers, & sometimes media personnel covering the event. The Green Zone is an area that's more accessible to the general public, NGOs, businesses, & other stakeholders interested in climate change-related activities; and is designed to engage/educate the broader community. 

The schedule of activities for both Zones is now out. Do give it a moment. It will help you make sense how the most important climate week is designed.

Happy Reading, 

Regards,
Harish
Team - OnePointFive Tribe

60 Countries Pledge To Triple Renewable Energy

Ahead of COP28, over 60 countries led by the EU, U.S. & UAE, have committed to tripling renewable energy production by 2030 in a groundbreaking pledge. The draft explicitly calls for 'phasing-down' coal power, marking a significant shift in environmental policy. The pledge aligns with scientific recommendations and efforts will be made for its inclusion in the final outcome at COP on Dec 2. While negotiations with China and India to join the initiative are reportedly at an advanced stage, neither country has officially signed on yet.

COP28 To Introduce 'Business & Philanthropy Climate-Forum'

COP28 is set to mark a noteworthy evolution in the global dialogue (usually reserved for government entities) by introducing Business and Philanthropy Climate Forum challenging the activism vs. capitalism narrative. The forum aims for a paradigm shift, emphasizing collaborative action by business and philanthropy alongside government efforts in addressing climate change. It will stress on the role of private philanthropy in closing the financing gap.

World Bank to Temporarily Host Climate 'Loss & Damage' Fund

Ahead of COP28, global negotiations on a climate-related 'loss & damages' fund concluded with an agreement that World Bank will host the fund for 4 years. The deal outlines fund goals & administration, incl. its planned launch in 2024. Developing countries will have a seat on the board. While the agreement is being seen as better than a stalemate, analysts note gaps in effectiveness. US welcomed the agreement but regretted the omission of the 'voluntary donation' aspect.

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