This Thursday (30/12), COP28, the United Nations (UN) Conference on Climate Change, began in Dubai, in the United Arab Emirates.
As international observers, as well as strategic partners of ICLEI (Local Governments for Sustainability) and Brazilian media, the directors of Grupo Myr, Sérgio Myssior and Thiago Metzker, will be physically present at yet another COP.
During the Conference, our directors will conduct a daily analysis, examining agreements and advancements in the fight against the climate crisis.
Furthermore, they will conduct exclusive interviews with global leaders from governments, businesses, and civil society, who are committed to addressing the climate crisis! They will also share best practices and international experiences in Sustainability, covering Climate Finance, ESG Agendas, Climate and the Brand-New Economy, which are shaping fundamental transformations in the economy, society, cities, and technologies.
Until December 12th, with an ambitious agenda, COP28 will bring together representatives from 200 countries in a crucial moment for transformative global climate action. It is expected to be inclusive, transparent, pragmatic, and results-oriented.
Follow our daily coverage of COP28 and stay informed about the repercussions of the main topics under discussion!
COP28 Kicks Off with a Historic Decision: Climate Loss and Damage Fund for Vulnerable Countries Approved!
On the first day of COP28 in Dubai, a climate fund was approved to finance losses and damages for vulnerable countries. This historic decision aims to reduce tensions between Northern and Southern countries.
The measure solidifies a significant outcome of COP27 in Egypt, where the principle of this fund was established, although without defined details.
At today’s event:
- The United Arab Emirates immediately announced a contribution of $100 million;
- Germany also announced a $100 million contribution to the fund;
- Japan provided $10 million;
- The United Kingdom committed $75 million.
“We made history today. This is the first time a decision has been adopted on the 1st of any COP. And the speed with which we did it is also historic.”
(Sultan Al Jaber, COP28 President)
This is great news; after all, the commitment made by developed countries to allocate $100 billion per year to developing countries to finance climate change mitigation measures, agreed upon in the Paris Agreement at COP-21, had not yet been fulfilled.
Deepen your knowledge about this topic by reading our blog: Climate Justice: Understand the Unequal Impact of Climate Change and the Search for Solutions.
COP28: Impactful Statements at the Official Opening!
At the opening of COP28, Simon Stiell, Executive Secretary of the UNFCCC (United Nations Framework Convention on Climate Change), emphasized the urgent need to intensify climate action.
Simon’s statements were impactful! Check out his perspectives on the main topics of COP28:
- Impacts of Global Warming: “We are on the brink of a precipice.”
- Phasing Out Fossil Fuels: “If we don’t signal the terminal decline of the fossil fuel era as we know it, we will be heralding our own terminal decline.” “And we choose to pay with people’s lives.”
- Loss and Damage Fund: “If this transition is not just, we will not make it.” “This means justice within and between countries.”
- Equal Opportunities: “It is imperative to ensure that everyone – women, indigenous peoples, and youth, in all their diversity – have equal opportunities to benefit from these transitions.”
- Transparency and Future Expectations (COP30): “In 2024, countries will present their first Biennial Transparency Report.” “At COP29, we will also reach an agreement on how to finance this massive shift, with the new Financial Goal.” “This leads us to COP30, where every commitment – in terms of finance, adaptation, and mitigation – must be aligned with a 1.5ºC world.”
Ethical Complexity and Conflict of Interest at COP28
At COP28, held in the United Arab Emirates, one of the major oil producers, the head of negotiations will be Sultan Ahmed Al-Jaber, CEO of Abu Dhabi National Oil Company (ADNOC), a state-owned oil company.
This week, Al-Jaber was accused of using the climate conference to establish new agreements with global oil companies, but he denied the allegations.
Below, part of his speech at the Official Opening of COP28 today:
“We need to find ways to include the role of fossil fuels. I know there are differing views on renewable energies and fossil fuels in the negotiation text. But we, collectively, have the power to do something unprecedented. Strictly speaking, we have no choice.”
(Sultan Ahmed Al-Jaber, COP28 President)
“Let’s be flexible, come up with solutions, reach consensus. And never lose sight of our North Star, the 1.5°C.”
(Sultan Ahmed Al-Jaber, COP28 President)
This scenario raises concerns among environmentalists due to potential conflicts of interest.
The Climate Observatory highlights the ethical complexity of this appointment and emphasizes the need to adopt a plan for the gradual elimination of fossil fuels, or at least to keep this goal in the decisions of the conference.
What Else to Expect from COP28?
It is worth noting that, on November 17th, for the first time in history, the global average temperature exceeded 2°C above pre-industrial levels, as indicated by the Copernicus observatory.
Consequently, the rise in global temperatures is causing changes in weather patterns.
In the face of this scenario of increasingly frequent extreme weather events, the urgency for global actions to contain warming becomes even more apparent!
Stay informed about other important issues that will be discussed at COP28 in the coming days:
Limiting Global Warming:
Exploration of mechanisms to limit global warming to 1.5°C above pre-industrial levels.
Unprecedented Global Stocktake
At COP28, the first phase of the so-called “Global Stocktake” will take place, enabling the review of the Nationally Determined Contributions (NDCs) of countries, established in the Paris Agreement during COP21, aimed at reducing global warming.
Forest Preservation and Carbon Neutrality by 2050:
Discussion of measures to protect forests and strategies to achieve carbon neutrality by 2050.
A report from Folha de S.Paulo on Thursday, the 30th, disclosed that: “States are strategizing to gain control over the carbon credit market.”
Brazil at COP28: Lula to Speak at the Climate Summit Plenary
President Luiz Inácio Lula da Silva is already in Dubai. On Friday, December 1st, Lula will speak at the plenary of COP28, in addition to participating in a series of meetings with leaders of other countries.
With about 1,500 participants from civil society, private companies, the National Congress, state governments, and the federal government, Brazil has the largest delegation at COP28.
As reported by the media, it is expected that the country will reinforce Brazil’s commitment to zero deforestation and seek to be an example of a clean energy matrix, advocating for the repair of less developed countries, in addition to committing to limit the global temperature increase to 1.5°C above pre-industrial levels.
In a recent interview, during his visit to Qatar before heading to Dubai, the President stated:
“Brazil will soon be an exporter of Sustainability. We have immense potential in the solar, wind, biofuels, and green hydrogen sectors.”
(Luiz Inácio Lula da Silva, President of Brazil)
Also read: The Future of Energy in Brazil: How Can Green Hydrogen Get Us There?
And the Brazilian government announced today R$ 20.8 billion for energy transition projects. Read the report on the UOL portal.
At the Brazilian pavilion of COP28, 110 events are expected during the UN Conference.
COP Dialogues: Check Out Grupo Myr’s Summary of the First Day of the Climate Summit!
Our director Sérgio Myssior gave a summary of the official opening of COP28.
Sérgio talked with Rodrigo Perpétuo, Executive Secretary of ICLEI – Local Governments for Sustainability, an international entity representing local and regional governments at the UN.
Rodrigo Perpétuo is a leader in the field of climate agenda. Click here and follow this enriching exclusive dialogue!
Stay tuned to our blog and our social media channels: LinkedIn, Instagram, Facebook, YouTube, and Podcast. Learn everything about COP28 with exclusive coverage from Grupo Myr!
