The Paris Agreement delegates recently gathered at a meeting in Bonn, Germany, laying the groundwork for crucial decisions to be taken at the United Nations Climate Conference (COP 28) in Dubai in 2023. The Bonn meeting concluded with the consensus to distribute “informal notes” that would facilitate ongoing work up to the Conference of Parties (COP) 28 in Dubai.
Global Stocktake
One of the highlights of the meeting was the technical discussions around the Global Stocktake (GST). The GST is a mechanism mandated by the Paris Agreement of 2015; it assesses progress in fighting climate change and identifies ways to bolster global efforts to fill the adequacy gap. As per the Paris Agreement, the GST should take place every five years, beginning in 2023 with COP 28 marking the first GST.
Focus on Post-2030 Ambition
The meeting placed due emphasis on post-2030 ambition, enabled via the advancement of the GST process. The objective was to boost efforts in adapting to climate change impacts and mobilizing financial and technical resources for developing countries.
Funding Arrangements for Loss and Damage
A major part of the discussions focused on forming balanced funding arrangements to address Loss and Damage (L&D) caused by climate change, especially for vulnerable communities. Although significant progress was made in operationalizing the Santiago Network on loss and damage, the question of who hosts the network remains unresolved.
Climate Finance Alignment
The European Union laid emphasis on the necessity to align global financial flows with the goals set by the Paris Agreement. This implicates examining the donor pool and ensuring the scale of financial support measures up to the needs of combating the climate crisis. Both the EU and many other countries underlined the importance of addressing climate finance at COP28.
Post-2025 Climate Finance Goal and Funding Arrangements
Productive discussions took place regarding the post-2025 climate finance goal and funding arrangements, additionally proposing a fund for loss and damage.
Urgency of Adaptation
Developed countries, including the European Union, recognized the urgency of meeting adaptation needs. The commitment from these nations is to scale up support by fortifying existing arrangements and institutions that have demonstrated experience and expertise in assisting vulnerable communities.
About the Conference of the Parties (COP)
The COP is the highest decision-making authority of the United Nations Framework Convention on Climate Change (UNFCCC) which meets annually unless decided otherwise by the Parties. The first meeting was held in Berlin, Germany in March 1995. The COP President’s office usually rotates among the five United Nations regional groups – Africa, Asia, Latin America and the Caribbean, Central and Eastern Europe, and Western Europe and Others. Elected by acclamation at the beginning of a COP session, the President is typically the environment minister of their home country.
