After running into overtime negotiations, COP28 has finally come to a close. The nearly 200 countries in attendance agreed to a new climate deal, but that's not all we got out of the final days of the conference.
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🌎 To start on the brighter side: funding to fight the climate crisis only grew as the week went on. The new Loss and Damage fund almost doubled to over $700 million, $3 billion was added to the Green Climate Fund, and the UAE pledged to create a $30 billion climate finance fund.
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🌎 Methane cuts were also the talk of the town, especially in the earlier days of the conference. Methane is usually synonymous with agriculture, but new U.S. regulations will actually target oil and gas. The EPA announced that with these new regulations, oil and gas methane emissions will be cut by almost 80% industry-wide by 2038.
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🌎 Negotiations on climate deal verbiage are what drove the conference into overtime (in case you missed it, Google "leaked OPEC letter COP28"). The final wording may be historic, but some are still upset with it. Despite calls to "phase out" fossil fuels, the best we got was "transition away". It may seem insignificant, but the less concrete verbiage is feared to allow for loopholes in investments, carbon credits, carbon removal, and other technologies.
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Read the UN's COP28 article here:
https://news.un.org/en/story/2023/12/1144742
...or see links to all of our sources on
https://pixelplanettoday.com/links
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Graphic shows the COP28 logo. The image reads: "Climate funding boosts, Oil and gas methane cuts, "Transition away" climate deal."
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As we head home after COP, we hope for action in reducing global warming and ending climate change
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@munene_mugambi absolutely! ❤️🌎
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The commitment of nearly 200 countries signifies progress in the global fight against climate change, marking a significant outcome from the conference's final days.