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All that can be saved
Context:
Recently held COP28 and its outcomes define notions of world on saving environment with sustainable future and sharing responsibility.
Emissions Gap Report and Climate Goals
- UNEP's 14th Emissions Gap Report highlights the growing disparity between planned and necessary emission reductions.
- Earth's temperature rise, driven by greenhouse gases, exceeds 1°C pre-industrial levels, causing severe climate impacts globally.
- The report precedes COP28, emphasizing the urgent need for more effective global mitigation and adaptation measures.
Fossil Fuel Dependency
- Impacts: Fossil fuel burning, mainly for power and transport, drives CO2 emissions; renewable energy adoption is crucial for mitigation.
- Challenges: The industrial sector faces challenges in transitioning from fossil fuels due to the high-intensity heat required.
- Need to strategize:Developing countries lack funds for capital-intensive green initiatives, emphasizing the need for technology and financial support.
COP28 Outcomes
- Polluter Pays Principle: Developed nations, responsible for major emissions, must pay for damage and adhere to the "polluter pays" principle.
- Climate finance transfer to developing countries falls short; COP28 discussions include global stock take and loss and damage fund.
- On Loss and Damage Fund: Lack of consensus on the global stock take report remains a contentious issue; progress seen in operationalizing the loss and damage fund.
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