Adaptation - From Paris to Dubai and beyond

Since the consequences of climate change are already being felt all over the world, measures to mitigate climate change, although important, may not be enough. More than ever, the same attention needs to be paid adaptation to climate change - to protect and ensure the long-term resilience of communities and ecosystems that are sensitive to the effects of a changed climate. Although this adaptation is central to the 2015 Paris Agreement, adaptation has not received much attention at subsequent COPs. Then, with the two-year work program introduced at COP26 to stimulate momentum around the global adaptation goal ((GGA) Article 7 of the Paris Agreement), all eyes were on COP28. But the eagerly awaited GGA framework adopted at COP28 is something of a mixed bag. While the final text signals a global consensus on adaptation commitments, the absence of specific time-bound targets and financial indicators raises practical questions about the implementation of the framework. The bottom line is that there is some way to make progress, especially on funding for adaptation, one of the main issues in the GGA framework discussions. At the very least, international momentum has been renewed, and with analysis suggesting growing market opportunities for adaptation finance, it may even be the private sector driving this momentum forward (see also our article on blended finance ). (Joanne Holbrook, Silke Goldberg, Jannis Bille, lexology.com)

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