How might COP28’s outcomes impact the Private Sector in Africa?
On the side-lines of the COP, a series of climate finance announcements were made that could advance private sector climate investment on the African continent. Countries were able to reach agreement on key milestones such as renewable energy and energy efficiency which will undoubtedly shape global demand and supply chains. However, stalled progress on carbon markets and Article 6, and weak text on the phase out of fossil fuels may dilute the effectiveness of these milestones.
Agriculture at COP28: Outcomes and implications for Africa
The African continent boasts vast agricultural potential and yet most countries are net food importers. For years agriculture has been a negotiation priority for many African states however progress at the COPs has been slow. At COP28, agriculture featured more prominently including within the UAE Declaration on Sustainable Agriculture, the Global Goal on Adaptation as well as the Global Stocktake. However, the failure to reach any agreement under the Joint Work on Implementation on Agriculture and Food Security was a missed opportunity.
COP28: where did we land on Carbon Credits?
While there was some progress on several outcomes at COP28, many texts and decisions remain unfinalised. One of these relates to carbon credits under the dedicated provision for market and related mechanisms under the Paris Agreement: Article 6.
COP28: Looking Back
As we emerge from another fraught COP, we undertake our own stocktake of where agreements were wrought and where further work still needs to be done, by focusing on key outcomes for African countries in relation to Adaptation and the Global Adaptation Goal, Mitigation and fossil fuels, the Global Stocktake, Loss and Damage, Just Transitions as well as trade.
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.
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.
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.
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: 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.
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.
