The 28th Conference of the Parties (COP28) held in Dubai in 2023 was a pivotal moment for global climate action and biodiversity conservation. One of the most significant developments was the agreement on Article 6.8 of the Paris Agreement, which advocates for non-market approaches to climate action that include biodiversity. A notable focus of the conversation at the conference was on ecosystem-based approaches, emphasising the role of local actors and communities in conserving and managing natural resources.
Many of the discussions at COP28 laid the groundwork for future global conversations, particularly for the upcoming COP16 of the Convention on Biological Diversity which is set to be hosted in Colombia in late October. As we look ahead to COP16, it's important to understand the major outcomes of COP28 and how they may impact the upcoming conference.
A major achievement was the first-ever 'global stocktake,' a comprehensive review to accelerate climate action by 2030. It emphasised the need to limit global warming to 1.5°C and reduce greenhouse gas emissions by 43% from the emissions calculated in 2019. The stocktake also called for tripling renewable energy capacity and doubling energy efficiency efforts by the same deadline of 2030.
Another significant success was the full operationalisation of the Loss and Damage Fund, which aims to help climate-vulnerable countries cope with the impacts of climate change. Although $700 million was pledged to the fund, this still falls short of the estimated damages these countries face.
COP28 also established a framework for the Global Goal on Adaptation which sets global targets to strengthen adaptive capacity, reduce vulnerability, and increase resilience to climate change. While this framework is a step forward, it lacks quantified goals and financial support for developing countries which are essential for meaningful progress.
The conference placed a strong emphasis on climate finance. The Green Climate Fund received new pledges, and discussions continued around setting a new collective goal for climate finance, building on the existing target of $100 billion per year.
For the first time, COP28 officially recognised the need to transition away from fossil fuels. However, the language used was vague, lacking specific commitments to phase out fossil fuels, leading to concerns about potential loopholes that would see continued investment into the fossil fuel industry.
Food systems and their impact on climate change were also in discussion at COP28. Given that these systems both contribute significantly to global greenhouse gas emissions and are highly vulnerable to climate change, they emphasised the need to transform global food production and distribution to make them more sustainable and resilient.
Discussions at COP28 recognised the importance of local communities and Indigenous Peoples in conserving and managing natural resources. Ecosystem-based solutions, which protect and restore natural habitats, are vital not just for carbon sequestration but also for preserving biodiversity. Many experts felt the final agreement could have been more explicit in its commitments to biodiversity, missing a key opportunity to strengthen the link between climate action and biodiversity.
The negotiations around Articles 6.2 and 6.4 were left unresolved at COP28. These articles deal with carbon trading and market mechanisms that could help fund community-based conservation and integrate biodiversity protection into global carbon markets. The absence of a final agreement on these mechanisms was seen as a missed opportunity to link climate action and biodiversity protection and establish stronger safeguards for biodiversity within carbon markets.
COP16 presents a crucial opportunity to address the biodiversity crisis with the same urgency and significance as climate change. It marks a pivotal moment to align the Kunming-Montreal Global Biodiversity Framework with the Paris Agreement, ensuring that goals for global biodiversity and climate change complement each other. While COP28 in Dubai focused heavily on finalising key elements of Articles 6.2 and 6.4 regarding carbon markets, COP16 must extend this conversation by emphasising the need to protect and restore ecosystems.
Carbon markets provide financial support for climate action but without clear safeguards, there is a real risk that market-based mechanisms may undermine biodiversity efforts. COP16 needs to ensure that these emission reduction mechanisms also involve actively contributing to biodiversity conservation. This can be achieved by establishing robust rules for calculating carbon offsets and prioritising nature-based solutions that support ecosystem restoration.
As the world races to meet the targets of both the Paris Agreement and Global Biodiversity Framework, COP16 could be a defining moment in the global fight against climate change. Reinforcing the urgency of biodiversity loss alongside climate action can help shape a future where protecting nature and addressing climate change are seen as interconnected, inseparable goals. Only through this integrated approach can we ensure a more sustainable, resilient, and equitable world for now and the future.
