The UN climate summit Cop 28 has delivered historic commitments, but pledges need turning into action, with the deadline for parties to submit new climate plans only a year away, energy and climate leaders told delegates at a high-level roundtable hosted by the IEA.
"Now is the time for all stakeholders to step up", Cop 28 president Sultan al-Jaber said today, after listing progress made during the summit last year. Almost 200 countries agreed to triple renewable energy capacity by 2030 and transition "away from fossil fuels in energy systems" in a "just, orderly and equitable manner" under the UN Framework Convention on Climate Change's (UNFCCC) first global stocktake. The historic outcome was dubbed the UAE Consensus.
Al-Jaber said that all the parties who signed the consensus must start working on new Nationally Determined Contributions (NDCs) — countries' climate plans — and "adopt comprehensive, economy-wide emission reduction targets that cover all greenhouse gases, and are aligned with the science and keep 1.5°C in reach."
But he also warned that a balanced approach must be taken. "The energy transition will lead to energy turmoil if we only address the supply side. We must tackle the demand side at the same time," he said.
NDCs are submitted every five years, with the next round due in February next year, ahead of Cop 30 in Brazil. "Everybody needs to have a plan," US climate envoy John Kerry said, adding that what has been agreed at Cop 29 must be implemented to avoid disappointment. "How many countries since the Cop 28 decision was made have implemented plans to transition away from fossil fuels," Kerry asked. He said that G20 countries have a key responsibility, reiterating the need for some large countries to move away from coal. "NDCs are key and need to reflect the decision of the consensus including on plans to move away from fossil fuels," Denmark's climate minister Dan Jorgensen said.
Brazilian national secretary for climate change Ana Toni said that parties "need to become real in their second NDCs", and need to produce detailed plans, including on investments. She said Brazil was hoping to have the international community and international agencies such as the IEA helping some countries to develop those plans.
The IEA said today that ahead of the next round of NDCs the agency has received "several requests" from countries asking for help on data, analysis and policy advice and will offer some support. It will also keep track of all the pledges made during Cop 28 in co-ordination with the UNFCCC.
The IEA will also look into new financial mechanisms to support the energy transition, especially in developing countries. "This is where the IEA can play a big role," Jorgensen said. "We need [the IEA's] data and input in regard to the financing question" and also on the "dangers for countries in not choosing the right path".
Al-Jaber pointed out that Cop 29 is "mandated" to deliver the NCQG — the new finance goal moving beyond the previous $100bn/yr target. He reiterated that parties need to move from billions to trillions, but also "activate every source of finance, including policies and incentives to attract private capital. Cop 21 president Laurent Fabius agreed that "billions not trillions" will be needed, but said that Azerbaijan might face a difficult task "because time is short and the international situation is not good". "This is the reason why the Troika will be decisive," he said. Toni said one of the missions of the newly formed Cop presidencies Troika — comprising Cop 28, 29 and 30 hosts the UAE, Azerbaijan and Brazil — is to keep the 1.5°C goal on track.
