Author: THINKTEAM Support

COP28 Kicks Off With a Loss and Damage Fund and an Agreed Agenda

COP28 President Dr Sultan Al Jaber took some hits this week, but he also championed an excellent start to the event. He pushed through agreement on a Loss and Damage Fund on the first day, and announced a $100 UAE pledge to the fund. He was also able to persuade parties to agree to a final agenda early on in the negotiations, something that looked unlikely a few days ago.
  • COP28

Proposed UN Tax Convention Sparks Hope for African Climate Finance

A recent UN Resolution to develop a global tax convention might stem illicit financial flows and create a more equitable and beneficial tax regime for Africa. The continent has long been championing these reforms, both to better its fiscal health and to enable domestic climate change responses.
  • Climate Finance

Roadmap to COP28 Positions and Priorities – What Does Africa Want?

Going into a COP it can be daunting to track the various issues under discussion. We’ve tried to do the hard work for you by unpacking the key priorities for COP28 and related African positions in some detail. We focus on the Global Stocktake, Mitigation and targets, the Global Goal on Adaptation, the CBAM, the Loss and Damage Fund, Trade, as well as Agriculture and Food.
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COP28 and Trade: Will Anyone Say Anything?

Despite climate related trade measures like the CBAM being one of the most controversial climate developments this year, it is still not clear whether they will formally be addressed at COP28. After a sour ending at the Bonn climate talks in June this year, countries still can’t agree whether to even discuss these types of unilateral response measures. Developed countries argue they should be addressed under the WTO, whilst African countries also want it dealt with under the global climate regime.
  • COP28, Trade

COP28: What are the African Positions on the Global Stocktake?

This COP is the moment for an open and frank discussion of what caused past failures, and an opportunity to reimagine what the Paris Agreement could bring over the next five years under the Global Stocktake. African countries may, however, be disappointed in the lack of actionable measures when it comes to proposed outcomes for adaptation, finance and trade ahead of the Stocktake.
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Loss and Damage Fund Recommendations Finalised

In a bittersweet victory, the Transitional Committee has finally arrived at a set of recommendations on the design of the Loss and Damage Fund ahead of COP28. It, however, entails hosting it at the World Bank and developed countries have no obligation to financially contribute. The US has also refused to approve it. Negotiators at the COP will now need to deliberate on whether to adopt the proposal.
  • COP28, Loss And Damage

Latest global stocktake report replete with bold and developing country centric positions

The most recent Global Stocktake Report from the UN Secretariat puts forward what are primarily developing country positions on key issues such as finance, mitigation, loss and damage and trade response measures. Getting parties to agree what are collectively the most contentious issues in the negotiations in the next two months will be no mean feat.
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Climate change fund replenishment falls vastly short

The latest replenishment of the UN’s climate fund, the GCF, barely moves the needle on what has been historically pledged. It also doesn’t touch sides with the amount needed by developing countries. This bodes poorly for the trust deficit between developed and developing countries at COP28.
  • Climate Finance, COP28

Slow progress and small wins at the IMF and World Bank meetings

At their annual meetings in Marrakesh this month, the World Bank and IMF agreed to some incremental reforms, including increasing IMF lending resources, representation for Africa on the IMF Executive Board, and quicker administrative processes for World Bank lending. However, little was achieved on debt reform or capital increases for the Bank.
  • Climate Finance

Interview with Kenya’s special climate envoy, Ali Mohamed, on the outcomes of the Africa Climate Summit

We had the pleasure of speaking with the Special Climate Envoy for Kenya, Ali Mohamed, in the days that followed the Africa Climate Summit to discuss his views on its outcomes and what they might mean for Africa’s positioning in the climate negotiations. In the interview that follows we discuss the framing of African action, climate finance, renewable energy, carbon taxes and loss and damage.
  • COP28