COP28 Sparks Hope Amidst Challenges

In a world where 2.3 billion people lack access to clean cooking solutions, the Global Electric Cooking Coalition takes center stage, rallying nations to embrace the shift towards electric cooking technologies. The recently concluded COP28 marks a historic moment with the Global Stocktake (GST) becoming a focal point.

While the final GST text falls short of a complete fossil fuel phaseout, it sets a groundbreaking precedent by acknowledging the urgent need for transitioning away from fossil fuels. This move aligns with the UNFCCC process, emphasizing common but differentiated responsibilities.

A pivotal aspect of the final text is the call for countries to triple global renewable energy capacity and double the rate of energy efficiency improvements by 2030. These commitments, crucial in the fight against climate change and ending energy poverty, receive support from SEforALL, influencing positive change.

Despite these strides, financial considerations remain a challenge. The final text lacks clear finance targets aligned with the actual needs of developing countries for transitioning their energy systems. The call for developed countries to jointly provide USD 100 billion per year falls short of the required USD 2.8 trillion needed in annual clean energy investments by the early 2030s.

Notably, COP28 falls short on decisions regarding Article 6.2 and 6.4 on bilateral trading and carbon markets. The absence of guidance and international agreement on transparency and integrity standards for carbon trading activities raises concerns about the effectiveness of this crucial mitigation instrument.

In the wake of COP28, the world grapples with the need for accelerated action, emphasizing collaboration, financial commitment, and clearer strategies to achieve sustainable energy goals on a global scale.

STORY BY JESSE ABISHECK

Email : abijessyshi@gmail.com

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Eldoret Media Hub

Eldoret Media Hub, a working space for journalists based in Uasin Gishu County set up by the Uasin Gishu Journalists Association (UGJA) through a Media Council of Kenya (MCK) grant.
The facility was officially opened in August 2021 by the MCK Chief Executive Officer David Omwoyo.

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