On the 13th local time, the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) concluded in Dubai, United Arab Emirates. The conference reached consensus on the first global stocktake of the Paris Agreement and historically included reference to fossil fuels in the text of the final agreement.
The final agreement of the Conference was unanimously agreed by 198 Parties. The text of the agreement, known as the "UAE Consensus", notes that all parties recognize the need for significant, rapid and sustained reductions in greenhouse gas emissions in order to reach the Paris Agreement's efforts to limit the global average temperature rise to 1.0 billionThe 5 degrees Celsius target calls for a number of actions, including: triple global renewable energy capacity and double annual global energy efficiency by 2030"Transitioning" from fossil fuels in a just, orderly and rational manner in the energy system;Eliminate inefficient fossil fuel subsidies as soon as possible, etc.
Sultan Jaber, President of the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), said that the UAE Consensus was "historic" and that all parties responded comprehensively to the first global stocktaking of the Paris Agreement, meeting all the needs of the negotiations.
Sultan Jaber, President of the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change: More and more oil and gas companies are starting to tighten controls on methane emissions, and we have included fossil fuels in the text of the final agreement, which is the first time in the world.
According to the Paris Agreement, the Conference of the Parties to the Convention will conduct the first global inventory this year and every five years thereafter to assess the progress of the implementation of the agreement and the overall gap in achieving the goals of the agreement.
In addition, during this year's General Assembly, all parties also agreed on important issues such as the launch of loss and damage**, and achieved breakthroughs in the framework of global adaptation goals and the work programme on the Just Transition Pathway. The Conference also decided that Azerbaijan would host the next Conference of the Parties.
*: CCTV Finance & Economics.