UAE: 'We can reimagine entire economies'; pre-COP event sees progress in major issues

There has been a lot of progress made on difficult issues, including loss and damage fund, during the closed-door meetings at the Pre-COP event, a top official from COP28’s team said.

Wrapping the two-day Abu Dhabi conference, Director General of COP28 Ambassador Majid Al Suwaidi, noted positive outcomes from negotiations held among ministers, delegates and decision-makers.

“We saw a lot of progress. In particular, we had the third plenary roundtable on operationalising the loss and damage fund and funding arrangements… and the fourth plenary roundtable on the global stocktake,” Al Suwaidi told reporters after the largest-ever Pre-COP with the participation of more than 70 ministers and delegations.

Revising Nationally Determined Contributions (NDCs), commitment to the $100 billion climate finance, keeping 1.5 degrees within reach, global stocktake, and the funding and arrangements for loss and damage were among the key issues deliberated upon at Pre-COP.

Al Suwaidi pointed out that delivering on finance is a “critical enabler” to climate action.

“It is how we turn our common ambitions into shared solutions. Currently, we need trillions, not billions. And at the moment capital is not available, accessible or affordable,” Al Suwaidi said and hoped for the formation of a financial framework during COP28.

Al Suwaidi noted that the fifth transitional committee meeting on loss and damage will be held from November 3. “We’re hopeful of positive progress with clear, clean, and strong recommendations that can be brought forward to COP28.”

Speed up, scale up

Al Suwaidi noted that when it came to global stocktake, the focus was on delivering a robust, balanced, and transformational decision across all pillars.

“We framed our discussion by asking delegates, what are the key pathways to deliver a credible response to closing existing gaps? Over the last few days, we’ve spoken about how we must seize the global stocktake as an opportunity to speed up, scale up and correct our effort.”

Al Suwaidi is glad about the success of the “first step”, i.e., the intent shown by countries to participate in Pre-COP.

“Overall, reflecting on the progress we’ve seen here, I have greatly been heartened by the turnout for this Pre-COP gathering, and it demonstrated how focused everyone is on climate change, and how determined we are to deliver progress at COP 28.”

Al Suwaidi noted the engagement seen among parties is a step in the “right direction”.

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