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''Environmental risk management - Conference of the Parties.''
''Environmental risk management - Conference of the Parties - emissions - greenhouse gases.''


'''Author: [https://www.linkedin.com/in/chadofficial/ Charitarth Sindhu]'''', Environmental Sustainability & ESG Consultant.
'''Author: [https://www.linkedin.com/in/chadofficial/ Charitarth Sindhu]'''', Environmental Sustainability & ESG Consultant.




The Conference of Parties (COP) serves as a primary decision-making entity under the United Nations Framework Convention on Climate Change (UNFCCC) inaugurated in 1992.  
The Global Cooling Pledge is an international commitment to reduce harmful emissions relating to mechanical cooling systems.  It was signed by participating countries in 2023.


Convened by participating nations annually in recent years, the COP examines key facets of climate action, encompassing mitigation, adaptation, finance, technology, and transparency.


To align with the objectives of the Paris Agreement, specifically the commitment to limit global warming to below 1.5°C above pre-industrial levels, the year 2023 marked the emergence of the Global Cooling Commitment during COP28.


Selected historical milestones from past COPs are set out below.
This commitment targets a 68% reduction in cooling-related emissions by 2050, relative to the levels observed in 2022.




==Kyoto 1997 to Glasgow 2021==
The global cooling industry plays a pivotal role in mitigating heat stress, fostering human comfort, minimizing food loss, improving healthcare accessibility, and ensuring efficient energy transmission.


These services primarily rely on '''mechanical cooling methods''', also known as active cooling mechanisms.


'''COP3 (1997):''' Adoption of the Kyoto Protocols legally bound developed countries with climate targets called Quantifiable Emission Limitation and Reduction objectives (QELR). In order to safeguard participating developed countries’ domestic industries, two mechanisms exist:
The underlying principle involves using liquid coolants to actively dissipate heat energy.  


* Joint Implementation project.  Developed countries are allowed to meet their targets by investing in emission reduction programmes in another developed country.
* Clean Development Mechanism.  Developed countries are allowed to meet their targets by investing in emission reduction programmes in a developing country.


This process is based on the concept that heat energy is absorbed when a liquid evaporates and released when a vapour condenses.


'''COP7 (2001):''' The Marrakesh Accords, set the stage for Kyoto Protocols' ratification by adopting detailed rules of implementation.
Among the commonly used coolants, HFCs found in air conditioners, refrigerators, and aerosol cans pose significant environmental risks.  


Most HFCs exhibit a global warming potential ranging from 140 to 11,700 times that of CO<sub>2</sub>.


'''COP8 (2002):''' The Delhi Declaration, outlined development needs for the poorest countries and emphasized the need of technology transfer for climate change mitigation.
Notably, a single tonne of the most commonly used HFC, HFC-23, is equivalent to the impact of 11,700 tonnes of carbon dioxide.




'''COP13 (2007):''' The Bali action plan, with pillars of shared vision, mitigation, adaptation, technology, and financing,  charted a two-year plan to finalize a binding agreement for the UNFCCC during COP15.
Recognizing the adverse environmental effects of mechanical cooling methods and committed to achieving net-zero emissions from cooling activities by 2050, 67 nations and various non-state entities signed the Global Cooling Pledge at COP28.  


To meet the specified target of reducing cooling-related emissions by 68% by 2050 relative to 2022 levels.


'''COP14 (2008):''' Launch of an adaptation fund under the Kyoto Protocol, investing in concrete adaptation projects in developing countries vulnerable to climate change effects.  
The United Nations Environmental Programme estimates that coordinated global efforts toward sustainable cooling could lead to a reduction of 78 billion tonnes of CO<sub>2</sub> emissions by 2050.  


Following up on the Delhi Declaration, the Poznan strategic program was launched to fund climate technology development and transfer activities.
This reduction is envisioned through the adoption of passive cooling methods.




'''COP15 (2009):''' End of the Bali action plan marked the Copenhagen Accord.  
'''Passive cooling methods''' regulate building temperatures without relying on active mechanical systems.  


The accord declared climate change to be the greatest modern challenge and should be limited to 2°C.  
For instance, '''shading''' techniques block direct sunlight and reduce solar heat gain using architectural elements like awnings, overhangs, or external blinds.  


The accord was not legally binding.
'''Ventilation''', another crucial aspect, accelerates air circulation to expel heat from the building.




'''COP16 (2010):''' Mexico.  Establishment of the Green Climate Fund to distribute US$ 100 billion per year to assist developing nations in addressing climate change.
'''Insulation''' serves as a thermal barrier, reducing heat transfer between the interior and exterior of a structure.  


Properly placed insulation materials in walls, roofs, and floors contribute to maintaining a stable indoor temperature by minimizing heat exchange.


'''COP18 (2012):''' Doha Agreements launched a new commitment period of the Kyoto Protocols, aiming to reduce greenhouse gas emissions by 18% compared to 1990 levels.
'''Green roofs''', an eco-friendly approach, involve cultivating vegetation on building rooftops, providing insulation and contributing to cooling through evapotranspiration, where plants release moisture into the air.




'''COP19 (2013):''' Created a mechanism for Intended Nationally determined Contributions (INDC) to be submitted by parties during the vital COP21.  
'''Reflective surfaces''', including cool roof coatings or materials with high solar reflectance, bounce back sunlight and reduce heat absorption.  


The Warsaw Framework for REDD+ was also designed to reduce human reliance on forests.
A significant aspect for the 2050 agenda involves reintroducing nature into urban settings through the incorporation of green spaces, trees, and landscaping.  


These elements create a more natural and cooler environment while enhancing overall well-being.


'''COP21 (2015):''' The Paris Agreement fully replaced the voluntary Kyoto Protocol with a legally binding treaty.


Countries are expected to commit to their Nationally determined contributions (NDCs).  
The common theme among passive cooling methods lies in their promotion of air movement.  


The Paris agreement committees to keeping global temperature rise below 2°C pre-industrial levels, accompanied by a yearly US$100 billion funding pledge by developed countries.
Efficient air circulation is vital for expelling heat from buildings and bringing in cooler external air.  


This not only regulates indoor temperatures but also aids in cooling occupants by promoting the evaporation of perspiration.


'''COP26 (2021):''' Was promoted as ‘the last chance to save the planet’.
With their comprehensive approach, passive cooling methods offer sustainable and energy-efficient solutions for maintaining comfortable living and working environments.
 
The Glasgow summit targeted global warming to not exceed 1.5°C and got 140 countries to announce net zero target dates.
 
 
==Egypt - COP 27 - 2022==
 
* '''Loss and Damage fund:''' A financial assistance initiative for nations most impacted by climate change.
 
* '''Global shield financing facility:''' Established by G7 countries to channel grants through global institutions for aiding climate-vulnerable developing countries.
 
* '''African Carbon Markets initiative:''' Established to enhance African nations' participation in voluntary carbon markets, with a goal to generate 300 million carbon credits annually by 2030 and 1.5 billion carbon credits annually by 2050. The funds raised will address the ongoing climate finance needs of participating nations.
 
 
==Dubai - COP28 - 2023==
 
* '''Global Stocktake:''' A periodic review mechanism established under the Paris Agreement at COP21 (2015), proposing eight steps to keep the global temperature rise below 1.5°C compared with pre-industrial levels.  The COP28 Global Stocktake identified the imperative to cut global greenhouse gas emissions, especially methane emissions, by 43% (compared to 2019 levels) by 2023 to meet the Paris Agreement Goals.
 
 
* '''Global goal on adaptation (GGA):'''
 
:- Established under COP21 (2015), encouraging nations to conduct climate risk assessments, inform policy development with these findings, and establish early warning systems by 2027.
 
:- COP28 called for doubling adaptation finance and outlined plans for assessments and monitoring needs, specifying explicit 2030 targets in water security, health, and ecosystem restoration.
 
 
* '''Climate Finance:'''
 
:- '''New Collective Quantified Goal (NCQG)''' for climate finance estimated that wealthy nations owe developing nations US$ 500 billion in 2025, including US$ 250bn for mitigation, US$ 100bn for adaptation, and US$ 150bn for loss and damage.
 
:- Operationalization of the '''Loss and Damage Fund (L&D)''' during COP28, overseen by the World Bank, with financial commitments to support the fund.
 
 
* '''Global Cooling Pledge:'''
 
:- A commitment to reduce cooling-related emissions by at least 68% globally relative to 2022 levels by 2050. This involves investments in passive cooling mechanisms such as shades, ventilation, insulation, green roofs, reflective surfaces, and reintroduction of nature in urban settings. This reduces the need for mechanical cooling mechanisms which cause greenhouse gas emissions.
 
:- Phase-down of refrigerants, especially Hydrofluorocarbons (HFCs), which are potent greenhouse gases classified as ‘super pollutants’. And switching to alternative cooling substances like hydrocarbons, ammonia and carbon dioxide.
 
 
* Adoption of a target to achieve net-zero fossil fuel consumption by the year 2050, coupled with accelerated actions to facilitate this transition.
 
 
* A declaration to triple nuclear energy capacity by 2050.




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* [[Conference of the Parties - historical milestones]]
* [[Conference of the Parties - historical milestones]]
* [[Convention on Biological Diversity]]
* [[Convention on Biological Diversity]]
* [[COP27]]
* [[COP28]]
* [[COP28]]
* [[COP29]]
* [[COP29]]
* [[COP30]]
* [[Developing country]]
* [[Developing country]]
* [[Ecosystem services]]
* [[Ecosystem services]]
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* [[Treaty]]
* [[Treaty]]
* [[United Nations Conference on Trade and Development]]  (UNCTAD)
* [[United Nations Conference on Trade and Development]]  (UNCTAD)
* [[United Nations Environment Programme]]  (UNEP)
* [[United Nations Framework Convention on Climate Change]]  (UNFCCC)
* [[United Nations Framework Convention on Climate Change]]  (UNFCCC)
* [[Voluntary carbon markets]]  (VCM)
* [[Voluntary carbon markets]]  (VCM)
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==External links==
==Other resource==
*[https://unfccc.int/ UNFCCC home page]
*[https://coolcoalition.org/global-cooling-pledge/ The Global Cooling Pledge]
*[https://www.cbd.int/cop/ Convention on Biological Diversity - Conference of the Parties webpage]
 
[[Category:Accounting,_tax_and_regulation]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Accounting,_tax_and_regulation]]

Latest revision as of 01:08, 12 November 2024

Environmental risk management - Conference of the Parties - emissions - greenhouse gases.

Author: Charitarth Sindhu', Environmental Sustainability & ESG Consultant.


The Global Cooling Pledge is an international commitment to reduce harmful emissions relating to mechanical cooling systems. It was signed by participating countries in 2023.


To align with the objectives of the Paris Agreement, specifically the commitment to limit global warming to below 1.5°C above pre-industrial levels, the year 2023 marked the emergence of the Global Cooling Commitment during COP28.

This commitment targets a 68% reduction in cooling-related emissions by 2050, relative to the levels observed in 2022.


The global cooling industry plays a pivotal role in mitigating heat stress, fostering human comfort, minimizing food loss, improving healthcare accessibility, and ensuring efficient energy transmission.

These services primarily rely on mechanical cooling methods, also known as active cooling mechanisms.

The underlying principle involves using liquid coolants to actively dissipate heat energy.


This process is based on the concept that heat energy is absorbed when a liquid evaporates and released when a vapour condenses.

Among the commonly used coolants, HFCs found in air conditioners, refrigerators, and aerosol cans pose significant environmental risks.

Most HFCs exhibit a global warming potential ranging from 140 to 11,700 times that of CO2.

Notably, a single tonne of the most commonly used HFC, HFC-23, is equivalent to the impact of 11,700 tonnes of carbon dioxide.


Recognizing the adverse environmental effects of mechanical cooling methods and committed to achieving net-zero emissions from cooling activities by 2050, 67 nations and various non-state entities signed the Global Cooling Pledge at COP28.

To meet the specified target of reducing cooling-related emissions by 68% by 2050 relative to 2022 levels.

The United Nations Environmental Programme estimates that coordinated global efforts toward sustainable cooling could lead to a reduction of 78 billion tonnes of CO2 emissions by 2050.

This reduction is envisioned through the adoption of passive cooling methods.


Passive cooling methods regulate building temperatures without relying on active mechanical systems.

For instance, shading techniques block direct sunlight and reduce solar heat gain using architectural elements like awnings, overhangs, or external blinds.

Ventilation, another crucial aspect, accelerates air circulation to expel heat from the building.


Insulation serves as a thermal barrier, reducing heat transfer between the interior and exterior of a structure.

Properly placed insulation materials in walls, roofs, and floors contribute to maintaining a stable indoor temperature by minimizing heat exchange.

Green roofs, an eco-friendly approach, involve cultivating vegetation on building rooftops, providing insulation and contributing to cooling through evapotranspiration, where plants release moisture into the air.


Reflective surfaces, including cool roof coatings or materials with high solar reflectance, bounce back sunlight and reduce heat absorption.

A significant aspect for the 2050 agenda involves reintroducing nature into urban settings through the incorporation of green spaces, trees, and landscaping.

These elements create a more natural and cooler environment while enhancing overall well-being.


The common theme among passive cooling methods lies in their promotion of air movement.

Efficient air circulation is vital for expelling heat from buildings and bringing in cooler external air.

This not only regulates indoor temperatures but also aids in cooling occupants by promoting the evaporation of perspiration.

With their comprehensive approach, passive cooling methods offer sustainable and energy-efficient solutions for maintaining comfortable living and working environments.


See also


Other resource

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