Availability, affordability, and access to finance for a just energy transition emerged as a cross-cutting theme.
German Chancellor Scholz pledged EUR 2 billion for the second replenishment of the GCF, and Baerbock said “contributors are confident in mobilizing” USD 100 billion in climate finance this year.
Among other solutions a potential roadmap towards the 1.5°C goal could highlight, participants mentioned unlocking innovative finance sources for loss and damage measures.
The 14th Petersberg Climate Dialogue brought together high-level representatives from some 40 countries ranging from vulnerable island nations like the Marshall Islands to high-emitting states such as China, India, and the US, for a round of talks in preparation for the 2023 UN Climate Change Conference (UNFCCC COP 28). Participants discussed a potential “roadmap to get us on track” to reach the 1.5°C goal and outlined solutions this roadmap could highlight.
The Governments of Germany and the United Arab Emirates (UAE) co-hosted the Dialogue, which convened from 2-3 May 2023 in Berlin, Germany.
Germany’s Foreign Minister Annalena Baerbock highlighted the Petersberg Climate Dialogue as a forum where industrialized countries, small island developing States (SIDS), emerging economies, and civil society can build alliances to “forge ahead.” She said the goal of the 14th Petersberg Climate Dialogue was “to lay the foundations … for joint resolutions” at COP 28 by building concrete partnerships for climate action across geopolitical borders.
Describing climate change as “the greatest security challenge of our century,” Baerbock said “we have the policy tools and the financial resources at our disposal as well as the technical solutions to contain this crisis,” as outlined in the latest report by the Intergovernmental Panel on Climate Change (IPCC).
Razan Al Mubarak, UN Climate Change High-Level Champion for the COP 28 Presidency, emphasized the role of non-party stakeholders in accelerating progress towards a net-zero and resilient world by 2050. Noting that “[t]here is no Paris Agreement without protecting nature,” she said we need to embrace nature-positive action, mobilize finance at scale, and ensure true inclusivity where women, youth, and Indigenous Peoples “are leading our discussions.”
COP 28 President-Designate Sultan Al Jaber called for “ambitious, transparent, and accountable commitments from countries and non-state actors that will shape policies in parliaments and budgets in boardrooms.”
The Co-Chairs’ Summary of the Dialogue highlights availability, affordability, and access to finance for a just energy transition as a cross-cutting theme. German Chancellor Scholz pledged EUR 2 billion for the second replenishment of the Green Climate Fund (GCF), and Baerbock said “contributors are confident in mobilizing” USD 100 billion in climate finance this year.
Participants welcomed the Incoming Presidency’s approach of formulating a “transformational roadmap as part of the political response” to the first global stocktake (GST), to deliver the solutions needed to reach the goals of the Paris Agreement on climate change. The GST is set to conclude at COP 28.
To ensure sectoral decarbonization and a just energy transition, participants indicated that the roadmap could highlight:
- a goal on renewable energy deployment, combined with a goal for energy efficiency uptake;
- new and sustainable formats for multi-partner investment coalitions;
- cooperation on grid expansion and integration; and
- shifting finance from high-polluting sectors to just transition.
Regarding global response to climate impacts, solutions that the roadmap could highlight include:
- pragmatic adaptation planning approaches;
- comprehensive risk management;
- strengthening the role of the private sector;
- unlocking innovative finance sources for loss and damage measures; and
- pre-arranged finance mechanisms such as the Global Shield against Climate Risks.
The Petersberg Climate Dialogue process was launched in 2010 by former German Chancellor Angela Merkel. The Dialogues convene annually and are co-hosted by Germany and the country that takes over the chair of the next UN Climate Change Conference. UNFCCC COP 28 will take place from 30 November to 12 December in Dubai, UAE.
The Petersberg Climate Dialogue was held less than two weeks after US President Joe Biden convened the Major Economies Forum on Energy and Climate (MEF), which highlighted actions focused on keeping the 1.5°C global temperature rise limit within reach. [14th Petersberg Climate Dialogue] [Co-Chairs’ Summary of the Dialogue]