COP28 in Dubai: Key Challenges and Climate Commitments

COP28 in Dubai addresses major climate change issues, underscoring the urgent need for collective global responses.

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COP28 Actions Climatiques et Défis Globaux

COP28 in Dubai is focusing on the global energy transition, a crucial pivotal factor in limiting global warming to 1.5°C. This ambition, anchored in the Paris Agreement, requires a shift from fossil fuels to renewable energies. At COP26 in Glasgow, a consensus emerged on reducing the use of coal. However, the inclusion of oil and gas in reduction targets remains an open debate. Expectations are high regarding countries’ commitments to significantly increase their renewable energy capacity by 2030, a goal recently endorsed by the G20 and reaffirmed in a joint statement by the USA and China.

The Fundamental “Loss and Damage” Fund

One of the major achievements of COP27 in Egypt was the creation of a “loss and damage” fund to support the countries most vulnerable to climate-related disasters. Nevertheless, the implementation of this fund is proving complex, with persistent questions about contributors, beneficiaries and fund management. A preliminary agreement on its operation has been reached, and COP28 President Sultan Al Jaber expresses his hope that the fund will be up and running by the start of the summit.

The challenges of climate finance

The investment required to meet climate targets is colossal, estimated at over 3,000 billion dollars annually by 2030. Developed countries have pledged to mobilize $100 billion a year for developing nations, but have yet to live up to this commitment. COP28 is expected to define a new climate financing target, replacing the $100 billion annual target.

Focus on Methane and Food Systems

Methane, a powerful greenhouse gas, will be a major concern at COP28. A summit on methane and other greenhouse gases is planned, co-organized by China, the United States and the United Arab Emirates. This event could reinforce the commitment made in 2021 to reduce methane emissions by at least 30% by 2030. In addition, this COP will place unprecedented emphasis on the world’s food systems, which are responsible for around a third of greenhouse gas emissions and are vulnerable to climate disasters such as drought.

COP28 in Dubai represents a crucial moment in the fight against climate change. With discussions ranging from energy transition to financial and environmental issues, the decisions taken will have a profound impact on the future of our planet.

Egypt’s Electricity Minister engages in new talks with Envision Group, Windey, LONGi, China Energy, PowerChina, and ToNGWEI to boost local industry and attract investments in renewable energy.
The potential closure of the Strait of Hormuz places Gulf producers under intense pressure, highlighting their diplomatic and logistical limitations as a blockage threatens 20 million daily barrels of hydrocarbons destined for global markets.
Budapest and Bratislava jointly reject the European Commission's proposal to ban Russian energy supplies, highlighting significant economic risks and a direct threat to their energy security, days ahead of a key meeting.
Libya officially contests Greece's allocation of offshore oil permits, exacerbating regional tensions over disputed maritime areas south of Crete, rich in hydrocarbons and contested by several Mediterranean states.
Hungary, supported by Slovakia, strongly expresses opposition to the European Commission's plan to phase out imports of Russian energy resources, citing major economic and energy impacts for Central Europe.
Israeli military strikes on Iran's Natanz nuclear site destroyed critical electrical infrastructure but did not reach strategic underground facilities, according to the International Atomic Energy Agency (IAEA).
The French president travels to Nuuk on 15 June to support Greenlandic sovereignty, review energy projects and respond to recent US pressure, according to the Élysée.
Kazakhstan has selected Rosatom and China National Nuclear Corporation to build two nuclear power plants totaling 2.4 GW, a decision following a favorable referendum and coinciding with Xi Jinping’s upcoming strategic visit.
Israeli strikes against Iranian nuclear sites disrupt US-Iranian talks on the nuclear deal. Tehran now considers canceling the upcoming negotiation round in Oman, heightening regional economic concerns.
Facing alarming breaches of uranium enrichment thresholds by Iran and explicit existential threats, Israel launches targeted military strikes against Iranian nuclear infrastructure, escalating regional tensions dramatically.
The Kremlin has confirmed that Vladimir Putin aims to help resolve the nuclear dispute between the United States and Iran, leveraging strengthened strategic ties with Tehran.
President Lee Jae-myung adopts an energy diplomacy rooted in national interest, amid a complex international landscape of rivalries that could create challenging situations for the country and its energy businesses.
Paris and Warsaw held a bilateral workshop in Warsaw to strengthen coordination on electricity infrastructure investments and supply security under the Nancy Treaty.
Donald Trump firmly rejects any uranium enrichment by Iran, while Russia affirms Tehran’s right to civil nuclear power, intensifying tensions in negotiations over the Iranian nuclear program.
Syria has signed a $7bn agreement with a consortium of companies from Qatar, Turkey and the United States to rebuild its national power sector.
Friedrich Merz confirmed that Germany would block any attempt to relaunch the Nord Stream 2 pipeline, despite internal calls suggesting a potential reopening of dialogue with Moscow.
A memorandum of understanding formalises energy cooperation between the European Union and the Latin American Energy Organization, including permanent EU participation in the organisation’s governance bodies.
Prime Minister Viktor Orban announced that Hungary would oppose the EU's plan to ban Russian energy deliveries by 2027, both legally and politically.
Michael Kretschmer, Minister-President of Saxony, proposed restarting dialogue with Russia on the Nord Stream 2 pipeline, despite clear opposition from the German government to any reactivation of the project.
Donald Trump is calling on the United Kingdom to abandon wind energy in favor of revitalizing offshore oil extraction, sparking debate over the economic and political implications of such an energy strategy after their recent trade agreement.