The 28th Conference of Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC) has commenced in Dubai, United Arab Emirates. It will be held from 30 November to 12 December 2023. It aims to drive action on climate change, reducing emissions and halting global warming.
The new climate finance goal was one of the first topics discussed. A decision on the goal will be finalised by 2024, making the discussions this year crucial for the timely delivery of an outcome. In this regard, the Eighth Technical Expert Dialogue (TED 8) on the New Collective Quantified Goal (NCQG) was held on November 28, 2023. This year, COP28 will discuss the results from the first-ever Global Stocktake, assessing progress toward achieving the ambition of the Paris Agreement to limit global temperature rise to below 1.5°C. In Dubai, talks will also centre on a so-called loss and damage fund, established last year, which would channel financing to vulnerable countries. It would help those nations deal with the irreversible consequences of climate change, such as desertification or rising seas.