The First Global Stake of the Conference of Parties (COP 28) has strongly recommended deep, rapid and sustained reduction’ of greenhouse gases and ‘rapid phasing down’ of unabated coal and limitation on permitting new and unabated coal power generation.
The report which reflects views of parties that subscribe to the United Nations Framework Convention on Climate Change has also recommended reducing both assumptions and production of fossil fuels in a just, orderly and equitable manner so as to achieve net zero by or before around 2050 in keeping with science.
It also strongly suggests phasing out of inefficient fossil fuel subsidies that encourage wasteful consumption and do not address energy poverty, or just transition as soon as possible.
Parties also agreed to include the need to double global energy efficiency and triple renewable energy investments globally.
The report has also placed emphasis on the reduction of non-CO2 emissions including Methane by 2030 and deployment of zero and low emission vehicles and construction of infrastructure to support reduction of emissions in the transport sector.
Parties also agreed on several implementation gaps which have to be examined and ensure remedial actions are aligned with nationally determined contributions.
“This COP28 has achieved a lot but more flexibility and cooperation is needed to reach the finishing line and deal with the toughest items that still remain,” said Sultan Al Jaber, President of COP 28.
The Paris Agreementt recommends that GST must occur after every five years.
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