UNFCCC COP28 – Abu Dhabi Sustainability Week Special COP28 Summit

Bhutan’s Pavilion at COP28 UAE – the absolute first the Kingdom ever set up at a UNFCCC COP - has been organising a large number of ceremonies, panel discussions and research presentations, gathering experts and officials from a variety of relevant organisations.

CBCGDF delegate at COP28 Dr. Edoardo Monaco attended the launch of both the National Carbon Registry (supported by The World Bank and the Government of Singapore) and the Bhutan Climate Fund.

The National Carbon Registry - initiated by the Department of Environment and Climate Change (DECC) of the Ministry of Energy and Natural Resources, with support from Druk Holding & Investments (DHI) - aligns with Article 6 of the Paris Agreement and aims to harness carbon finance for the country's climate mitigation objectives. It prioritises trust and transparency, hence its integration with the Climate Action Data Trust (CAD Trust), a decentralised blockchain platform developed about a year ago by The World Bank, International Emissions Trading Association, and Singapore.

The Bhutan Climate Fund (BCF) aims simultaneously at four key objectives: a) pooling capital from donors; b) addressing high ERC transaction costs; c) aggregating adjustment fees to cover opportunity cost for remaining carbon negative; 4) supporting the Royal Government of Bhutan's overall pursuits of SDGs.

Bhutan is the world's first carbon-negative country, and it's fully committed to carbon neutrality for the long haul. Its constitution guarantees that over half of the country shall remain covered in forests. Run-of-river hydroelectricity powers the country and constitutes a major export to the region.

Preservation of the distinctive local culture, together with good governance, environmental protection and equitable improvement of socio-economic standards are the pillars of the country's overarching sustainable development paradigm known as "Gross National Happiness" (GNH).

A "GNH Index", devised according to the same Alkire-Foster (AF) methodology behind the Multidimensional Poverty Index [Oxford Poverty & Human Development Initiative (OPHI), University of Oxford], allows the government to periodically gauge progress in multiple domains of human development across different locations and demographic groups (for more on the latest survey's results: https://www.mppn.org/wp-content/uploads/2023/12/EN-Dimensions-15_WEB-final.pdf). 


Credit: Edoardo Monaco  ©CBCGDF Media’s Matrix·Delegation of CBCGDF COP28

 

 By Dr. Edoardo Monaco, CBCGDF Delegate at COP28 in Dubai)

 

Oringinal Link: https://mp.weixin.qq.com/s/NhJh5oa_DQ4j8aWIN9-Aug

Translator: Richard

Checked by:

Contact: v10@cbcgdf.org; +8617319454776


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