The crunch is here, says US climate envoy John Kerry as leaders gather for Cop28

Genuine progress will require investment of 'trillions of dollars' globally, he warned

US climate envoy John Kerry arrives for the Cop28 summit in Dubai. AP

Live updates: Follow the latest news on Cop28

“The crunch is here,” said US special climate envoy John Kerry on Wednesday as global leaders convene in Dubai for the critical UN Cop28 climate summit, where the world will “need to step up and help get the job done at a faster rate”.

“There's too much business as usual still. We have got to bring people to the table who are not yet there. And we will make progress in that [at Cop],” Mr Kerry told a media briefing.

He said Cop28 will produce “steps forward that have not yet been articulated”.

But he warned genuine progress will be hard-won, and will require the investment of “trillions of dollars” globally.

“Not everybody is doing what they promised to do. And needless to say, that's a problem and we need to have accountability at this Cop, for that lack of follow-through by some.”

That analysis is backed-up by daunting UN reports.

A November report from the UN Climate Change body found that national climate action plans remain “insufficient to limit global temperature rise to 1.5°C and meet the goals of the Paris Agreement”.

It found that much more effort is needed to avoid climate change's worst effects.

“Governments combined are taking baby steps to avert the climate crisis,” said Simon Stiell, the executive secretary of UN Climate Change.

"And it shows why governments must make bold strides forward at Cop28 in Dubai, to get on track."

He said the conference must be a global turning point.

Mr Kerry promised a major focus on methane, financing, shipping and deforestation.

That focus on methane and non-carbon dioxide greenhouse gases is an area where Mr Kerry sees room for increased US co-operation with rival power China.

The two countries will hold a joint summit on the issue during Cop.

The US envoy said methane is responsible for 50 per cent of the global warming and “is far more damaging, far more destructive than CO2”.

“We also think it's the easiest, quickest, fastest, cheapest way to begin to get gains in against the warming,” said Mr Kerry.

Enhanced co-operation between Beijing and Washington on climate change is important as the countries are the worst carbon emitters.

On financing, Mr Kerry emphasised that there are “trillions of dollars sitting on the sidelines” globally on climate investments because of risk.

But he expressed hope that Cop28 “is going to produce a pretty healthy menu of possibilities” to create financial availability, including blended and mixed finance mechanisms.

“Working with the World Bank, we anticipate much higher level of less expensive lending to take place … I think it's an exciting time with a lot of potential and the deployment of these new initiatives,” he said.

The US envoy also emphasised the importance of a “candid” and “comprehensive” global stocktake.

Cop28 is set to conclude with the first-ever global stocktake, a process for countries and stakeholders “to see where they’re collectively making progress towards meeting the goals of the Paris Climate Change Agreement – and where they’re not”, according to the UN.

“It's a unique opportunity, in my judgment to rally the world to significantly step up our collective efforts to meet the goals of the Paris Agreement,” said Mr Kerry.

“I think this global stocktake needs to earn the credibility of the world by being candid, strong, visionary, and comprehensive."

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  John Kerry, US Special Presidential Envoy for Climate, arrives in Dubai for the Cop28 Climate Summit. AP

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  Mr Kerry entering the Cop28 venue, Expo City Dubai. AP

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  Workers prepare a banner that reads 'Let's Fix Climate Finance' ahead of the official opening of Cop28 in Dubai. Getty Images

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  National flags of the participating countries being arranged outside the Cop28 venue. AFP

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  Participants gather in a hall at Dubai Expo City. The UAE is hosting the summit from November 30 to December 12. AFP

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  Final coats of paint as workmen get ready for the UN Climate Summit. AP

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  Signs on the Dubai Metro. Cop28 participants are encouraged to use public transport to travel to the venues. AFP

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  Electric scooters and bicycles for hire in the climate conference's Green Zone. Bloomberg

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  Construction workers fix a hoarding in the Green Zone. Bloomberg

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  Summit attendees use an electric hire bicycle and scooter in the Green Zone. Bloomberg

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  Participants enter the Blue and Green zones ahead of the Cop28 climate conference at Expo City. Bloomberg

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  A Cop28-themed dessert on offer ahead of the summit conference at Expo City. Bloomberg

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  Solar-powered e-trees in the Green Zone. Bloomberg

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  The Energy Transition hub in the Green Zone will provide a platform to showcase sustainability plans and forge partnerships for working towards net zero goals. Bloomberg

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  Workers clean street furniture in the Green Zone. Bloomberg

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  A woman is dwarfed by a giant poster for Cop28 in Dubai. AP

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  Attendees in Al Wasl Plaza in the summit's Blue Zone. AFP

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  A Cop28 poster in Dubai. Organisers expect 70,000 people to attend the summit this year. AFP