Green Steel World February 2024 | Page 11

[ OPINION ] which participants agreed to reduce greenhouse gas emissions . Additionally , COP 2 saw the signing of the Paris agreement , aiming to limit global warming to 2 degrees , with an aspirational target of 1.5 Degrees .
It is clear that COP holds significant importance as the forum where global policies are shaped , leading to tangible changes on a global scale . Indeed , for many of us , this is the first COP where we have unequivocally felt the effects of climate change in our own lives . The year 2023 set a record for global temperatures , with averages surpassing 1.4 degrees above pre-industrial levels on certain days . Arctic ice sheets are rapidly diminishing , and meteorological events are becoming more extreme , as seen with hurricane Otis , devastating the coast of Acapulco in Mexico , with wind speeds increasing by 115MPH in 24 hours .
Scientists are sounding alarms about a number of “ global tipping points ” which when passed could cause irreversible change to our climate and ecosystems . Indeed , the current consensus is that the commitments that countries have made to reduce their emissions , and their subsequent implementations ,
It is clear that COP holds significant importance as the forum where global policies are shaped , leading to tangible changes on a global scale .
are not enough to keep warming below 2 degrees . The IPCC warns that every additional degree of warming above 1.5 will lead to exponentially worse outcomes for the environment and human economic activity .
If we accept the scientific consensus attributing these changes to the emission of greenhouse gases from burning fossil fuels for energy , skepticism arises regarding the effectiveness of COP 28 in achieving stronger emission reduction commitments from member states . The UAE , one of the largest global producers of oil in the world and an OPEC member , hosts one of the largest oil refineries in the world in Ruwais , and the president of COP is the minister of industry and advanced technology , head of the Abu Dhabi National Oil Company . More broadly , this COP reported a record number of attendees representing global Oil and Gas companies , though part of this increase could be explained by new rules requiring greater disclosure of attendees ’ employment . Indeed , leaked documents seen by the BBC reported that the UAE intended to use its role as COP host to negotiate oil and gas deals . This pessimism seemed to be confirmed when , during a video call , the COP president claimed that there is no scientific basis for the claims that phasing out fossil fuels would be necessary to limit global warming to 1.5 degrees .
Not long after this news emerged , the COP president openly and clearly stated that he saw a “ phase out and phase down ” of fossil fuels as inevitable . Scientific consensus has for some time been that for emissions to be reduced , our energy generation must shift from one based on the burning of fuel for electricity to models that do not produce greenhouse gases as a byproduct . The
Green Steel World | Issue 10 | February 2024 11