The first week of the COP28 global climate talks concluded with a significant milestone with the operationalisation of the Loss and Damage Fund, pledges of over USD 83 billion and the draft text for Global Stocktake mentioning phasing out of all fossil fuels for the first time in years.
However, even as over USD 83 billion was mobilised in pledges questions persist about the voluntary nature of these commitments and the actual fulfilment by the participating nations.
Amidst the discussions, the issue of fossil fuels emerged as a focal point, with a new draft text of the Global Stocktake proposing options for the phase-out of unabated coal and an orderly and just transition away from fossil fuels which might be a contentious point for India.
