By: Connor Choe
The UN’s Conferences of the Parties (COP) are key international meetings where member countries address global environmental issues such as climate change, biodiversity, and sustainability. The meetings are part of the United Nations Framework Convention on Climate Change (UNFCCC), a treaty established in 1992. The first COP was held in 1995 in Berlin, Germany. Since then, countries have gathered annually to assess progress, set new goals, and negotiate agreements. One of the most notable outcomes was the Paris Agreement, signed during COP21 in 2015, which aims to limit global warming to 1.5°C above pre-industrial levels.
Representatives from governments, NGOs, scientists, and industries attend these conferences to share research, advocate for policies, and foster global cooperation. Each country (or party) has an equal vote, making the COP a collaborative decision-making body focused on accountability and shared responsibility.
COP28, held in November 2023, featured several critical developments. One of the key outcomes was the first Global Stocktake (GST), where countries collectively reviewed their progress towards the Paris Agreement goals. The results were concerning—many nations are off track, meaning the window to limit global warming is narrowing, which calls for urgent emissions reductions and accelerated climate action
Another significant topic was the proposal for an International Carbon Market under Article 6 of the Paris Agreement. However, no full agreement was reached, largely due to the contrasting regulatory approaches between regions. European Union countries, with stricter rules, manage a more effective system like the EU Emissions Trading System (EUETS). Meanwhile, the United States advocated for more flexible regulations, which critics argue allow companies to evade meaningful reductions in carbon emissions
COP28 also marked a breakthrough in global climate policy, with countries agreeing to transition away from fossil fuels and setting ambitious targets to triple renewable energy capacity by 2030. Although the final declaration did not call for a full phase-out of coal, oil, and gas, it was the first time such a move was explicitly mentioned at a COP
Additionally, the Loss and Damage Fund was fully operationalized, ensuring financial support for vulnerable countries facing severe climate impacts that they cannot mitigate or adapt to alone. COP28 also laid the foundation for a new climate finance goal, which will replace the previous $100 billion annual commitment, recognizing the need for greater financial support to meet global climate targets, particularly in developing nations
These decisions, while crucial, underscore the need for continued and enhanced efforts to meet the Paris Agreement’s goal of limiting global warming to 1.5°C and building a more resilient global system for addressing climate change.
https://unfccc.int/cop28/5-key-takeaways#end-of-fossil-fuels
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