Energy Gang
COP28: What's the point of the COP?
Dec 8, 2023
Energy experts Melissa Lott and Morgan Bazilion join the podcast to discuss the latest stories from COP28. They debate the efficacy of the annual climate summit, the potential impacts of next year's US and UK elections, and key takeaways from the talks such as reducing methane emissions and financing challenges. The importance of practical solutions, private sector engagement, and funding for developing countries is emphasized. The speakers also reflect on the value of attending COP, face-to-face interactions, and share their takeaways from COP28 with optimism.
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Quick takeaways
- The focus at COP28 is on transitioning from current clean energy spending to the required $4 trillion by 2030, with private sector engagement and financing being crucial.
- While negotiations at COP28 are important, meaningful actions and progress in addressing climate change are happening outside of the negotiations, driven by discussions, agreements, and initiatives beyond the negotiation rooms.
Deep dives
Prioritizing Fielding Solutions and Building Infrastructure
There is a shift in focus at COP28 towards fielding solutions and building infrastructure to address climate change. The emphasis is on going beyond raising ambition and making stronger NDCs. The goal is to transition from the current $1.7 trillion spent on clean energy deployment to the required $4 trillion by 2030. Private sector engagement and financing are crucial, and COP28 highlights the importance of catalyzing private sector finance while also addressing barriers such as policies, regulations, permitting, and financing. The negotiations at COPs are seen as important but not delivering substantial results, with more meaningful actions and announcements happening outside of the negotiations.
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