Jakarta, IO – Towards the end of 2023, COP28 was held, at the 28th annual meeting of the United Nations (UN), where the government discussed the issue of climate change in the future. The High Level Summit took place in Dubai, United Arab Emirates (UAE), lasting from November 30 until one day later, December 13, 2023. COP is an abbreviation for “Conference of the Parties” where the “parties” are countries that signed the UN climate change treaty in 1992.
COP28 concluded with an agreement that marked the “beginning of the end” of the fossil fuel era, by laying the foundations for a rapid, just, and equitable transition, supported by major emissions reductions and increased funding. In a show of global solidarity, negotiators from nearly 200 countries gathered in Dubai with a decision on the world’s first “global inventory” to scale up climate action. The main goal is none other than to keep the global temperature threshold of a 1.5°C rise within reach.
There has been much debate and criticism of the meetings that have been going on since 1992, from both aspects of legitimacy, effectiveness, and accountability. For this reason, it is interesting to observe how this regular conference is able to inspire concrete action, not mere rhetoric, considering that the world is currently dying, due to multiple crises. So further performance needs to be produced, including to spur a stronger, better, fairer, and more sustainable post-pandemic global economic recovery.
World leaders must act based on fundamentals that have not yet received serious attention, namely, reducing the gap in a level of compliance between countries’ commitments. This is a test of the credibility and effectiveness of the COP and a solution that the world desperately needs. Based on G20 Research Group records, the level of compliance by G20 countries is still low, with an overall average of 71%, including in thematic areas such as health at 72%, digitalization at 68%, and sustainable energy at 70%.
Several key points that need to be pushed by Indonesia, as the only G20 member country from ASEAN, are listed in the inventory list of pressing problems throughout the world in the social, economic, ecological, and security sectors. The first is Russia. Their invasion of Ukraine has increased global energy and food problems, with many fiscal and monetary impacts. The “failure” of the UN as the vanguard of peace resolutions must be taken over by Indonesia.
Second, concentration and totality on the issue of climate change and sustainable development. Indonesia should be a pioneer and, at the same time, show momentum for internal improvements both in the management of natural resources and the environment, such as forests, peat, mangroves, energy, mining, and hydro meteorological issues. 75% of world emissions come from the G20, and G20 member countries are the majority contributors to environmental degradation, such as high deforestation in Argentina, Australia, Brazil, and Indonesia. It’s sad to see that a non-G20 country like Pakistan is giving more sweat to the “Billion Tree Tsunami” initiative. Since 2018, 30 million trees have been planted. Even the impact of COVID-19, which created unemployment, was taken advantage of by the Pakistani government by hiring 63 thousand people to plant trees.
Third, careful environmental management (eco-prudential). Economic growth, which is increasingly uneven at different rates in different countries, depends on the ability to recover and the sustainability of fiscal and monetary support. In fact, many steps can be taken, including transferring debt to various forms, including nature conservation (debt for nature swap). Indonesia’s steps as a pioneer in manifesting Addis Ababa’s sustainable financing agenda need to be appreciated, with the implementation of a blended financing scheme. Such development financing innovations encourage the contribution of actors outside the government, such as the private sector and philanthropy, that should be imitated and mainstreamed by the G20, especially in making the SDGs agenda a success.
Flash floods in the Super Priority tourist destination of Toba are a reflection of how trillions of Rupiah in development do not guarantee Eco prudential management or care for the environment. This further worsens the condition after UNESCO’s “yellow card” for Toba Geopark, which is threatened with having its status revoked globally.
Fourth, encouraging environmental literacy through mainstreaming environmental, social, and governance (ESG)-based development and investment. ESG-based investments encourage environmentally-friendly social responsibility and focus on sustainable development. Ironically, as is the case in Indonesia, ESG is still regulated at the level of OJK governance.
Read: Strategies To Achieve 7-8% Economic Growth
The last one is the need for Indonesia to prepare itself as the host of the COP, by initiating a road map for medium-term global environmental development (5 years) and long-term (20 years) with practical adaptation and mitigation analysis (strategic foresight) regarding potential threats, dangers, challenges, and disasters in the future that may affect people’s lives. This action can be supported by partners such as organizations, thinkers, research institutions, youth, and civil society organizations.
The COP needs to be used as momentum and a bet on Indonesia’s leadership, in order to globalize. Its success will become a historical legacy that will be remembered by future generations, all over the world.