The United Nations Climate Change Conference (COP28) closed today with an agreement that signals the “beginning of the end” of the fossil fuel era by laying the ground for a swift, just and equitable transition, underpinned by deep emissions cuts and scaled-up finance. In order to deliver such funding, the global stocktake underscores the importance of reforming the multilateral financial architecture, and accelerating the ongoing establishment of new and innovative sources of finance. The decisions taken here today also reemphasize the critical importance of empowering all stakeholders to engage in climate action; in particular through the action plan on Action for Climate Empowerment and the Gender Action Plan. The High-Level Champions, under the Marrakech Partnership for Global Climate Action, launched their implementation roadmap of 2030 Climate Solutions. Looking aheadThe negotiations on the ‘enhanced transparency framework’ at COP28 laid the ground for a new era of implementing the Paris Agreement.

Source: News Business Ethiopia December 14, 2023 02:02 UTC