Global | COP28: Real gains if fully implemented, but transformative action is still needed

Summary

If fully implemented, the better-than-expected outcome of COP28 should represent not negligible progress towards the Paris Agreement goal. However, much more is needed to achieve them.

Key points

• Key points:
• What was the climate situation before COP28? Need for decisive actions. GHG emissions are at record high, and their intensity decline is too slow, policies are slowing down and the Global Stocktake shows that challenges persist in closing both ambition and implementation gaps.
• What were the expectations at the beginning of the COP28? Ambitious COP proposals with a lack of detail due to different country goals. Geopolitics favors that the EU, the US, and China focus on emissions neutrality, but at different rhythms, tools and against the opposition of oil producers.
• What has been the final outcome? Positive advances beyond the first call to "transition away from fossil fuels". The trade-off between consensus and binding decisions favors reaching agreements, even if implementation details remain pending

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