We seem to be moving in the right direction with regard to safeguarding our planet, contends
Khadija M-Williams
COP28, or the 28th United Nations Climate Change Conference, was recently held in Dubai, United Arab Emirates (UAE). This event is typically where various governments come together to agree on policies which aim to limit global temperature rises and adapt to impacts associated with climate change. COP28 is basically the Oscars of the Sustainability/Climate Change world. Yes, you may have heard a lot about whether the delegates Nigeria took to the event were qualified or otherwise – this is not what we shall discuss in this article. Nigeria, like other countries working towards a better world, attended the event and a number of initiatives were announced such as: the unveiling of an electric bus fleet by President Tinubu with the aim to reduce the country’s carbon emissions; the Nigerian Carbon Market Activation Plan which is a special committee to assist in the drafting of a national carbon market strategy; the unveiling of the Long-Term Low Emission Development Strategy; Nigeria’s commitment to the Global Cooling Pledge which aims to raise ambition and international cooperation to ensure that cooling related emissions are reduced and cooling systems are sustainable and accessible; and Nigeria’s commitment to eliminating gas flaring in a bid to reduce methane emissions. All these initiatives are supposed to further Nigeria’s commitment to decarbonising her economy and achieving net zero emissions by 2060.
There were also a number of important outcomes at COP28, two of which were the operationalisation of the Loss and Damage Fund (the Fund), and a call for the transition away from the use of fossil fuels. The Fund, which was agreed to at COP27 held in Sharm El Sheikh, Egypt, aims to provide funding for vulnerable countries that have been hit the hardest by climate disasters. This Fund is different from climate adaptation or mitigation funding as it covers climate-related disasters that affected communities are unable to adapt to or mitigate. The amount of money committed to the Fund currently sits at US$798m – developing countries face an estimated loss of US$400bn each year. More on this massive gap later in this piece. The call for the transition away from the use of fossil fuels is being highlighted as a landmark agreement as it is the first time fossil fuels have been specifically named in climate negotiations. That said, and with all things where different actors are involved, it was a very political outcome whose effectiveness will be tested in the years to come.
