What/Where/When : The COP28 climate conference in Dubai, starting this Nov. 30, will address critical issues as nations seek to avert a looming climate disaster.

Key topics of discussion include:

Urgency in Action: The conference will focus on accelerating the transition to clean energy. Discussions will revolve around corporate progress, finance pathways, biodiversity, phasing out coal, and developing carbon markets. A significant challenge is aligning global efforts with the Paris Pact goals, especially considering the recent record-high global temperatures and inadequate emission reduction efforts.

Finance and Fossil Fuels: The importance of finance in the low-carbon transition will be a central theme, with particular attention to the future of coal, gas, and oil. The conference will explore how financial strategies can facilitate the shift from fossil fuels to sustainable energy solutions, amidst the complexities of global energy markets.

Global Responsibility and National Commitments: The conference will address the findings of the UN’s stocktaking report, which highlights inadequacies in current climate actions and national commitments. These are currently insufficient to meet the 1.5-degree Celsius target set by global agreements. Increased ambition and collective responsibility will be crucial topics.

The Role of Major Oil Producers: The UAE’s role as both the host of COP28 and a significant oil producer brings a unique perspective to the discussions. The dual role of Sultan Al Jaber as the head of ADNOC and a key figure in the conference might draw criticism but also highlights the need for involvement of oil-producing nations in climate discussions.

Urgent Call to Action: Simon Stiell, the Executive Secretary of the UNFCCC, emphasizes the urgent need for decisive action on reducing carbon emissions. He advocates for accelerated efforts to meet the 1.5ºC limit and highlights the critical state of global temperatures and the catastrophic implications of inaction.

Financial Aid for Climate Disasters: A key issue will be the provision of finance for the rescue and rehabilitation of the poorest and most vulnerable communities affected by climate disasters. The establishment of a loss and damage fund has been agreed upon, but rich countries have yet to pledge contributions. The fund’s effective capitalization and scale will be a central topic at the conference.

Controversies and Chief Guests: The backdrop for COP28 includes the stark reality of a planet moving toward a climate disaster and governments’ slow response to avert the crisis. With tens of thousands of participants, including heads of state and government, the conference will try to draft a plan to accelerate the global transition away from fossil fuels. Last year’s summit saw the agreement to establish a fund to help countries cope with climate disasters, but progress on emission reduction was limited.

The UAE’s role as host and the appointment of Sultan Al Jaber as COP president has sparked controversy, with critics highlighting a potential conflict of interest. However, key figures, including US climate envoy John Kerry, have praised the appointment. The UAE has emphasized its commitment to climate action, setting emissions reduction targets for 2030 and 2050.

The attendee list includes high-profile figures like King Charles III and Pope Francis, but US President Joe Biden and China’s Xi Jinping, leaders of the top polluting countries, have not yet confirmed their attendance. The presence of major oil-producing countries and fossil fuel executives will also be notable, as they are expected to announce new commitments to decarbonization.

COP28’s global stocktake reveals minimal progress since the Paris Agreement, with an urgent need for action. The establishment of the loss and damage fund will be a key issue, with the goal of operationalizing it by 2024 to assist poor countries most affected by climate change. The fund’s establishment and the approach to it will be crucial in determining COP28’s success.