Summary of the COP28 results

The 28th Climate Change Conference ended last week after intensive negotiations. In addition to moving away from fossil fuels, a number of resolutions were adopted:

1. Global stocktake: the global stocktake shows that if all Nationally Determined Contributions (NDCs) were fully implemented, global greenhouse gas emissions would only fall by 5.3% by 2030 compared to 2019 – too little to achieve the 1.5 degree target. The states agreed to adjust the NDCs for 2035 by COP30 in two years’ time on the basis of scientific findings.

2. Compensation fund: On the very first day of the climate conference, a fund was set up to compensate countries for climate-related damage and losses. In the course of the conference, a total of around 800 million US dollars was collected for this purpose.

3. Global adaptation goal: The states agreed on guidelines for adapting to climate change. These include various goals, including adapting agriculture to the challenges of climate change and strengthening health systems to cope with the effects of global warming. In addition, industrialized countries are called upon to at least double their financial support for adaptation measures in poorer countries from 2019 to 2025.

The next UN Climate Change Conference, COP29, will take place next year in Azerbaijan.

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