Context:
- COP28 refers to the 28th United Nations Climate Change Conference of the Parties. It is scheduled to be held in Nov – Dec 2023.
- It is an international gathering where representatives from nearly 200 countries come together to discuss and negotiate global climate policies and actions.
Importance:
- COP28 aims to address the urgent challenges of climate change, including reducing greenhouse gas emissions, adapting to the impacts of climate change, and mobilizing financial resources for climate action.
- The 28th Conference of Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC) is all set to feature a “global stocktake”, where participating countries will report on their progress in meeting their voluntary emissions reduction commitments and discuss strategies for closing the gaps.
- The summit also gives an opportunity to focus on corporate environmental responsibility (CER) to help protect our planet.
- The conference provides a platform for countries to set targets, share best practices, and make commitments to combat climate change.
- COP28 plays a crucial role in advancing international cooperation and coordination to tackle the climate crisis and achieve the goals outlined in the Paris Agreement.
Key Points:
- Methane Emissions and Net-Zero Plans
- Inclusive Energy Transition and Climate Justice
- Maximizing Technology Adoption and Climate Finance
- Renewable Energy Capacity and Hydrocarbons
- Carbon Capture Technologies and Industrial Emissions
- Breakthroughs in Battery Storage, Nuclear Energy, and Fusion
India’s stance:
- India’s stance at COP28 centres around the importance of adaptation and equity in addressing climate change. Along with other developing countries, it is pushing for a new global climate finance target, acknowledging the growing costs of addressing and adapting to climate change.
- The Government of India has launched several domestic actions to improve understanding of climate change. It also put forward its long-term low-carbon development strategy to the UNFCCC in November 2022 after analysing the climate impact in India due to the global rise in temperature.
- The concepts of mitigation and adaptation are at the heart of international climate discourse. ‘Adaptation’ refers to assisting countries that are most vulnerable to the effects of climate change (coastal states, island nations) with finance and infrastructural assistance. Mitigation refers to reducing carbon emissions and historically, countries have wrangled over the deadlines and upper limit of emissions to keep global temperatures from rising 0.5 or 1 degree Celsius from current levels.