COP_28

• The first objective is to ensure a fairer distribution of funds dedicated to the fight against climate change. This issue has been the subject of heated debate at previous conferences, with many developing countries pointing out that they are often the most affected by global warming while having fewer resources to deal with it. Discussions will focus on developing innovative and equitable mechanisms to redistribute these financial resources with a focus on transparency and accountability.
• The main objectives will be the creation of a global carbon tax system, ending dependence on coal, phasing out fossil fuels and ending investments in the gray or brown economy

Expected outcomes:

Little is known about the final shape of the Global Stocktake results as they will be presented at COP28. Decisions voted by the Parties at COP28 will be adopted, and a political declaration may also emerge from this process. The Katowice decisions specify that Parties will be invited “to submit their Nationally Determined Contributions, according to the results of the global stocktake, at a special event to be organized under the auspices of the Secretary-General of the United Nations”.

In the meantime, a Climate Ambition Summit will take place in September 2023, organized at the initiative of Antonio Guterres, Secretary-General of the United Nations, to push for more tangible and credible action from the largest emitting countries.