COP28: 4 targets to support biodiversity

Over the past three decades, since the Rio Summit and the creation of the United Nations Framework Convention on Climate Change (UNFCCC), the Conference of the Parties to the Convention (COP) has met annually to engage member countries in discussing ambitions and responsibilities, as well as identifying and evaluating measures to address climate change. During the21st session of the COP (COP21), theParis Agreement was reached, which generated global collective action to limit the global average temperature increase to 1.5°C above pre-industrial levels by 2100 and to act with measures and strategies to mitigate the effects of climate change.

The dottor Sultan Al Jaber, president of COP28, emphasised the importance of unity, action and multilateralism; he made it clear that the world needs to step up its efforts and seize the opportunity offered by the COP28 to take action and maintain the goal of limiting the global temperature increase to 1.5°C. Collective action is needed to tackle the climate challenge and ensure that the ambitious target is still achievable. Also Teresa Ribera Rodríguez, third vice-president of the government and acting minister for ecological transition and demographic challenge of Spain, stated that: the EU is a driving force for change and we must speak with one voice in the world. Difficulties cannot be used as an excuse to return to the situation before the Paris Agreement.

The President-designate of COP28 appeals to the nations of the G20 to take the lead and show solidarity in action against climate change. It highlights how many indicators are going in the wrong direction. Every year record high temperatures are reached, even considering the current year officially declared as the hottest in history. The picture of the world today shows a loss of biodiversity, a degradation of agricultural land and an increase in food insecurity. To achieve the ESG goals, it is necessary to halt the loss of biodiversity, restore farmland, preserve forests, protect coastlines, ensure that no one goes hungry, and safeguard life and livelihoods worldwide.

COP28 will take place in Dubai from 30 November to 12 December 2023 and is geared towards real solutions that respond to the GST. The Global Stocktake (GST) will be tasked with providing a comprehensive assessment of the progress achieved so far through the adoption of the Paris Agreement. This exercise will align global efforts to address climate change, including the actions needed to close remaining gaps. The United Arab Emirates presidency for COP28 is committed to ensuring that the world responds to the GST with a clear and defined plan of action, geared towards protecting biodiversity. Concrete steps will be taken to address current challenges and to achieve the ESG targets. The two-week COP28 programme includes four cross-cutting themes that support an effective and interconnected offer: 1) energy transition and innovation; 2) inclusion; 3) community; 4) finance.

There are four key objectives of COP 28, starting with accelerating the just, orderly and equitable energy transition. The European Union will propose a global agreement to phase out the global use of coal, oil and gas, but there may be divisions between countries, including major fossil fuel producers and developing countries that depend on these resources for economic growth. It is hoped that, building on the results of the first Global Stocktake, an ambitious agreement can be reached. To identify the best solutions at COP28, technology and innovation will be discussed, involving governments, companies, ONG, academia, investors and start-ups. 3Bee, a Nature Tech specialising in biodiversity protection solutions in line with the COP28 targets, offers valuable support and assistance to companies that intend to pursue the ESG targets.

The second objective is to mobilise for a more inclusive COP. Inclusion will be a key element of COP28, involving all the most vulnerable and marginalised. 100 delegates have been selected for the occasion for the 'International Youth Climate Delegate Programme', which will be integrated into the COP process, with a preference for delegates from the list of Least Developed Countries (LDCs), Small Island Developing States (SIDS), indigenous peoples and other global minority groups. With the need to urgently address the climate crisis and promote concrete actions to limit the rise in global temperatures and mitigate the negative effects of climate change.

The third objective is to put nature, life and livelihoods at the centre of action for the climate. The aim is to promote more funding for climate adaptation and to provide economic support for people affected by climate impacts to which they cannot adapt. The aim is to protect the natural environment and ensure that climate policies take into account the people and communities affected. The Council recognises the importance of achieving a positive outcome in the first global stocktaking at COP 28, which is a central element of the Paris Agreement and includes specific recommendations for immediate, ambitious and enhanced action in the mitigation of and adaptation to climate change.

The second objective on climate finance is to provide financial support to states to phase out fossil fuels and address the impacts of climate change. Member States recognise the efforts made by many countries and institutions to provide funding to address the losses and damages resulting from the adverse effects of climate change.The goal is to develop a new financial framework that covers adaptation, mitigation and climate-related losses and damages, using funds from public, private and philanthropic sources at the national and international level. Important was the discussion at the Economic and Financial Affairs Council (ECOFIN) on 17 October 2023, which highlighted the progress made in the review of the governance framework and reiterated the need to continue discussions at both technical and political levels.

To sum up, the EU is committed to working with all parties to continue to promote the implementation of the framework: by enhancing transparency; fostering an inclusive discussion on the future of the UNFCCC, with a focus on improving efficiency, process and facilitating participation; continuing the ambitious implementation of the Glasgow Work Programme for Climate Awareness Action and its Action Plan; address the gender dimension to fully exploit the potential of climate policies; promote discussions under the Sharm el-Sheikh Joint Work Programme (COP27) on the implementation of the climate action in agriculture and food security.

By the end of the decade, some 200 billion will have to be invested in conserving global biodiversity. The resources will be committed to achieving conservation, regeneration and environmental footprint reduction targets, as set out in the 23 goals of the global framework for biodiversity. 3Bee, with its regeneration projects, works in line with this approach: biodiversity is essential to ensure climate resilience and our very survival. Recent and increasingly frequent global disasters underline the urgent need for a change of course, highlighting the lack of ecosystem value. With the project Oases of Biodiversity, 3Bee wants to regenerate 10,000 low-biodiversity areas across Europe: the impact of each area is traceable thanks to technology, which merges with nature to transform urban and agroforestry habitats into flourishing areas of biodiversity.

Article by Angelina Tortora