What the UN Climate Deal Could Mean For Us

The world is shifting away from fossil fuels. Or are they? Representatives of about 200 countries met together in Dubai on Wednesday December 13th to discuss climate change. The meeting was a great show of cooperation in the global goal to attain more efficient and environmentally-friendly energy.

An important part of the meeting was financing action towards climate change. Especially for developing countries, where funding climate action is a struggle. Multiple pledges to the Least Developed Countries Fund were made. However, experts believe these pledges aren’t enough to produce climate action in developing countries in the future. After this meeting, The Green Climate Fund has total pledges worth $12.8 Billion, with more funding anticipated in the future.

COP28 does have its drawbacks when it comes to funding. For example, The Loss and Damage Fund has so far accumulated $429 million. While this may seem large, this is small compared to the estimated $400 billion in developing countries annually. Additionally, experts believe the current pledges aren’t enough to produce climate action in developing countries in the future.

COP28 sets the stage for future efforts to combat climate change. Efforts such as the Paris Agreement, a legal agreement used to globally take action toward climate change. President Biden entered the United States into the Paris Agreement his first day in office. But we do not know if this commitment will continue in the future. Former president Trump previously withdrew the United State's involvement in the Paris Agreement. Among the Republican candidates to be the GOP’s next presidential nominee, Vivek Ramaswamy has pledged a commitment to continuing the use of fossil fuels and would likely withdraw from the Paris Agreement should he be elected president.

Above all, the highlight of the meeting was the call for the world to transition away from fossil fuels. Norway’s Minister of Foreign Affairs, Espen Barth Eide, mentioned at COP28 that there is “such a clear text on the need to transition away from fossil fuels.” The plan is to achieve this “in a just, orderly and equitable manner…” and to hopefully “achieve net zero by 2050”(UAE). This statement from the UAE comes after a previous statement was widely criticized for not discussing an end to using fossil fuels.

Let’s take a moment to recognize the importance of this event in the context of today. A coalition of about 85,000 people got together to contribute, create, and share ideas for how to take Climate Action. 2023 was the warmest recorded year in all of history. This meeting is significant and it is even more important that we recognize this.

However, this meeting could hypothetically hold very little value. There were no requirements set on countries to achieve the climate goals set by The United Nations Climate Change Conference. Only calls to take action were made, placing the responsibility on individual countries. The United States, a leader in this climate agreement, will certainly look to head the movement.

These changes can be seen in our own community. General Electric has set a goal to be carbon neutral in all its locations (including Schenectady) by 2030. The discussions about climate action in Dubai will affect our community and shape policy for next decades as we approach our collective goal to reach net zero emissions.