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Context

• The Petersberg Dialogue on Climate Change was held in Berlin.

Details

Host

• It was hosted by Germany and the United Arab Emirates, which is hosting the 28th Conference of Parties (COP28) to the United Nations Framework Convention on Climate Change.

Participation

• Ministers from 40 countries attended the conference to discuss the way forward towards COP28.

Highlights

• United Nations Secretary-General António Guterres emphasised the need for “cleaning-up our economies — breaking our fossil fuel addiction and driving decarbonisation in every sector” to achieve a 1.5 degree global warming pathway.
• He also reiterated his earlier call for an Acceleration Agenda, where “all countries hit fast-forward on their Net Zero deadlines”.
  • The Agenda calls for coal phaseout by 2030 in Organisation for Economic Co-operation and Development countries, and by 2040 in all others, as well as achieving Net Zero electricity generation and decarbonising major sectors.

Global renewables target

• In order to limit global warming to 1.5°C, the world needs to make sharp cuts in their greenhouse gas emissions.
• There is a need for a potential global target for renewables at the next climate conference.

Fossil fuels: Phaseout production or reduce emissions?

• There is a need to be laser-focused on phasing out fossil fuel emissions, while phasing up viable, affordable zero-carbon alternatives.
• Members called for a tripling of renewable energy capacity by 2030 followed by a doubling in 2040.

On track for $100 billion climate finance

• Members said that developed countries are “on good track” to deliver the $100 billion per year they had promised to mobilise by 2020 during the COP15 in 2009.
• The $100 billion is likely to be a gross underestimation of the true need for climate finance in developing countries.
• A recent estimate pegs climate finance needs at $1 trillion per year by 2030 for emerging markets alone.
• This means that climate finance needs are more than 10 times the amount that developed countries have been able to mobilise, 14 years after committing to the $100 billion figure

Global Stocktake

• 2023 is the year for the Global Stocktake, which is essentially a periodic review of global climate action which aims to assess whether current efforts will enable us to reach the objectives set out in the Paris Agreement.
• This is the first Global Stocktake year since the Paris Agreement was signed in 2015 and the report has been underway for the past two years. It is set to be released in September of 2023.
• India at the dialogue:
  • The Global Stocktake outcome should focus on how climate change impacts, actions and responses have a bearing on the developmental priorities of developing countries including eradication of poverty, Union Minister for the Indian Ministry of Environment, Forest and Climate Change said.
  • He also added that the outcome of the first Global Stocktake should seek to convey a message on sustainable lifestyles as well as sustainable consumption to inform the next round of Nationally Determined Contributions and enhanced international cooperation.

PRACTICE QUESTION Q) Although the $100 billion climate finance pledge might have been met this year, the needs have now escalated. This underlines the urgent need for financial reparations.  Critically Analyse. (150 words)

https://www.downtoearth.org.in/news/climate-change/some-key-takeaways-from-the-petersberg-climate-dialogue-89116