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Thursday, March 14, 2024

Strategic CSR - COP 28

I thought Bloomberg's summary of the agreement reached at COP 28, last December, was telling. First, the good news (with an essential qualification, right at the end, my emphasis):

"The latest UN climate summit ended with an announcement that nations have committed to transitioning away from all fossil fuels. … The deal calls for countries to quickly shift energy systems away from fossil fuels in a just and orderly fashion, albeit in a non-binding deal."

Then, quickly followed by the reality check:

"The history of adherence to such pledges is spotty at best. After a pledge to phase down coal in Glasgow, Scotland, two years ago, consumption has continued to rise and the world remains very unlikely to limit warming to the Paris Agreement's target of 1.5C."

Equally revealingly, the article in the second url below reports Bloomberg's overall score for the final (nonbinding) agreement in terms of "10 key areas" that optimists ahead of the conference were using to evaluate progress and secure gains made in previous conferences:

"Overall, COP28 scored a 3.8 out of 10. That was … 0.1 points higher than the score for last year's COP27 in Sharm el-Sheikh, Egypt, but 2.2 points below the score for COP26 in Glasgow in 2021."

The chart accompanying the article shows how dire COP 28's final agreement was in light of what is required (and was hoped for):
 

Oh well, I suppose there is always next year (as no-one I know has said).

Take care
David

David Chandler
© Sage Publications, 2023

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COP28 Nations Reach First-Ever Deal to Move Away From Fossil Fuels
By John Ainger, Jess Shankleman, and Jennifer A Dlouhy
December 13, 2023
Bloomberg

COP28's Success Marks Just a Tiny Upgrade on COP27 Results
By Olivia Rudgard and Kira Bindrim
December 13, 2023
Bloomberg