Source: PIB
Why in News?
The Petersberg Dialogue on Climate Change was hosted in Berlin, Germany from May 2-3, 2023, 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 (UNFCCC).
What is Petersberg Dialogue?
- The Petersberg Climate Dialogue is an annual high-level political and international forum held before the United Nations Climate Change Conferences (COP).
- It was initiated in 2010 by former German Chancellor Angela Merkel.
- The forum aims to prepare for successful negotiations at COP climate change conferences.
- The central goal is to strengthen trust in multilateral climate negotiations and between states.
- The dialogue focuses on climate adaptation, climate finance, and dealing with loss and damage.
What are the Key Takeaways from the Petersberg Climate Dialogue?
Need for Clean Energy Transition:
UN Secretary-General emphasized the need to “break our fossil fuel addiction and drive decarbonization in every sector” to achieve a 1.5°C global warming pathway.
Global Renewables Target:
German Foreign Minister initiated discussions around a potential global target for renewables at the next climate conference. And stressed the need to make sharp cuts in greenhouse gas emissions to limit global warming to 1.5°C.
Fossil Fuel Phaseout:
COP28 President called for a tripling of renewable energy capacity by 2030 followed by a doubling in 2040. And urged participants to ramp up renewable energy capacity building and focus on phasing out fossil fuel emissions while phasing up viable, affordable zero-carbon alternatives.
Status of Climate Finance:
The developed countries are “on a good track” to deliver the USD 100 billion per year they had promised to mobilize by 2020 during COP15 in 2009.
However, a recent estimate pegs climate finance needs at 1 trillion USD annually by 2030 for emerging markets alone, highlighting the urgent need for financial reparations.
Urgent Global Financial Systems Transformation:
The need for an urgent global financial systems transformation was underlined so that crucial climate finance can be unlocked for the most climate vulnerable countries in the world.
The burden of keeping global temperatures from rising beyond 1.5°C cannot fall on the poorest countries, who are least responsible for the stock of greenhouse gases in the atmosphere.
Global Stocktake:
- 2023 is the year for the Global Stocktake, which aims to assess whether current efforts will enable us to reach the objectives set out in the Paris Agreement.
- The report has been underway for the past two years and is set to be released in September of 2023.
- Union Minister for the Indian Ministry of Environment, Forest and Climate Change, stated that the outcome of the first Global Stocktake should focus on how climate change impacts, actions, and responses have a bearing on the developmental priorities of developing countries, including eradication of poverty. It should also seek to convey a message on sustainable lifestyles and sustainable consumption to inform the next round of Nationally Determined Contributions and enhanced international cooperation.
