In the heart of the United Arab Emirates, from November 30 to December 12, 2023, the global community converges to review climate action.
This edition of COP (Conference of the Parties) holds particular significance as it marks the first-ever Global Stocktake (GST) of the implementation of the historic Paris Agreement—a monumental task undertaken every five years to assess the collective progress of nations in addressing climate change. This assessment, occurring at the mid-point of the 2030 Agenda for Sustainable Development, will offer a comprehensive evaluation of global efforts in combating climate change.
A distinguished delegation from the European University Institute through its Florence School of Regulation and Florence School of Transnational Governance will bring a wealth of interdisciplinary insights to the global climate dialogue.
On his expectations for the summit, Simone Borghesi, Director of the FSR Climate team, emphasises the imperative for substantial societal and economic transformations beyond mere technological solutions. In his words, "climate change already disrupts fundamental aspects of the global economy, human lifestyles, and biodiversity."
Jos Delbeke, EIB Chair at the EUI where he also leads the STG Climate team, reflects on the ambitious targets set by the Dubai conference, calling for a tripling of renewable energy and a doubling of energy efficiency by 2030. "I hope leaders of governments are going to stick to those targets [...]. These are not empty promises by a chairman coming from an oil and gas-exploiting country."
Andris Piebalgs, a Senior Fellow and former European Commissioner, places a spotlight on COP28's potential in addressing global methane emissions reduction. He underscores the “industry's commitment to ambitious emission reduction targets, transparent reporting mechanisms, and sector-wide collaboration”.
Amidst these perspectives, the importance of Article 6 of the Paris Agreement comes to the forefront at COP28. Article 6 outlines the mechanisms for international cooperation, allowing countries to collaborate on emission reduction efforts and establish a framework for the exchange of emission reductions between nations. The successful implementation of Article 6 is crucial for achieving the goals of the Paris Agreement by fostering global cooperation and ensuring a fair transition to a low-carbon future.
Speaking of emission reduction efforts, Elena Marro from STG Climate brings attention to the importance of progress on rules governing carbon markets. She notes that the agreement on these methodologies "holds the potential to give a loud signal on what the UNFCCC structure conceives as high environmental standards."
STG Climate’s Piotr Dombrowicki, who will also be in attendance in Dubai, underscores the significance of discussions related to Article 6 of the Paris Agreement: "These technical discussions still hold a lot of importance for the overall quality and integrity of international carbon markets and by extension, for the ambition of the Paris Agreement itself."
A first workshop on the Voluntary Carbon Market, co-organised with the International Emission Trading Association and Lean Management Systems Promotion Society, will take place on 3 December and can be followed online. Another event on Regulation and Energy Development in Africa, organised by the African School of Regulation, will take place on 4 December and focus on adaptation of international regulatory best practices to the African context and on innovative regulatory approaches.
Jos Delbeke will speak at the side event 'Border Carbon Measures: Trade, Economic Development, and Global Emissions' on 6 December and at several sessions on 9 December: 'Renewable energy and a new paradigm for economic growth', 'Win-Win on Global EV Transition: EU-China EV and Supply Chain Dialogue'. STG Climate will co-organise the sessions 'Realising the full potential of carbon pricing (and markets): Opportunities for Europe and the World', and 'Innovative instruments for joint biodiversity and climate policy'.
The teams are also taking part in other sessions such as on the impact of Italian projects on climate action, the role of carbon pricing in achieving industry Net-Zero goals, a European Parliament discussion on the Methane Pledge evaluation, and an assessment of innovation for integrated biodiversity and climate policies.
For more information about the summit see also the interview with Jos Delbeke: What to expect from the Dubai climate summit, read FSR Topic of the month on ‘Can the stakes of COP28 live up to the expectations of civil society?’ and follow our live updates from the conference.