New Delhi: Among the countries that endorsed the Global Cooling Pledge launched at the ongoing COP28 (the 28th Conference of the Parties of the United Nations Framework Convention on Climate Change) at Dubai in the United Arab Emirates (UAE) is India’s neighbouring Himalayan kingdom of Bhutan.
The Global Cooling Pledge is a joint initiative between the UAE as host of COP28 and the UN Environment Programme (UNEP)-led Cool Coalition. It aims to reduce cooling-related CO2 emissions by at least 68 percent by 2050, compared to 2022 levels. This is equivalent to a saving of 78 billion tonnes of carbon dioxide.
The pledge entails countries making substantial investments in transitioning to sustainable cooling technologies. Proposed measures encompass a push for enhanced energy efficiency, improved building codes, nature-based solutions, and expeditious reduction of hydrofluorocarbons (HFCs) where feasible. The HFCs are a group of synthetic gases primarily used for cooling and refrigeration. Many HFCs are very powerful, short-lived climate pollutants with an average atmospheric lifetime of 15 years.
Simultaneously, the aim is to enhance access to cooling for populations, mitigating heat stress, facilitating productive work, reducing food loss, and improving healthcare. More specifically, the signatories pledge to support a global initiative aiming to increase the average efficiency rating of new air-conditioning equipment by at least 50 percent by 2030.
They also commit to publishing a national cooling action plan and establishing national model building energy codes, incorporating strategies such as passive cooling and energy efficiency measures. The endorsement agreed by the signatory countries is towards worldwide installed renewable energy generation capacity of at least 11,000 gigawatts. The Global Cooling Pledge is designed to make things like air conditioners, deep freezers, and heat-dissipating homes more affordable, especially in developing countries.
It is in this context that the importance of Bhutan’s endorsement of the Global Cooling Pledge needs to be looked into. Bhutan is the world’s first carbon-negative country. Bhutan has long been regarded as a leader in safeguarding the environment. It actively contributes to the planet’s well-being by maintaining a carbon-neutral status.
At the same time, it needs to be noted that even a country like Bhutan with an admirable ecological footprint is not immune to the health impacts of our changing climate. The Global Cooling Pledge marks a new chapter in COP28, going beyond financial commitments to symbolise a collective acknowledgment of the intricate relationship between climate and health.
Bhutan now stands alongside nations facing similar challenges, emphasising that every entity, regardless of size, plays a crucial role in the global foght against climate change. For Bhutan, the pledge provides an opportunity for collaboration and shared learning. The kingdom, known for its unique development philosophy, can share its journey toward carbon neutrality with other countries.
While Bhutan has effectively managed its carbon emissions, the pledge highlights the importance of adaptation. Resilient health systems are necessary to face emerging challenges, from climate-influenced disease spread to the impacts of extreme weather events on vulnerable communities.
During the course of COP28, the Himalayan kingdom also unveiled the Bhutan Climate Fund (BCF) which aims to ensure transparency and accountability of the authorisation and transfer process of Bhutan’s carbon credits, a key component of initiatives aimed at mitigating climate change and reducing greenhouse gas emissions.
A carbon credit represents a unit of measurement that corresponds to one tonne of carbon dioxide or its equivalent in other greenhouse gases being either removed from the atmosphere or prevented from being emitted. These credits are tradable instruments and serve as a way for countries, companies, or individuals to offset their own carbon emissions by investing in projects that reduce or remove greenhouse gases elsewhere.
Carbon credits play a crucial role in promoting sustainable practices and financing projects that contribute to global efforts to combat climate change. According to a report in the Bhutanese media website Kuensel, the BCF is a first of its kind that will aggregate and monetise Bhutan’s high-integrity net negative greenhouse gas (GHG) emissions at a fair price, reflecting the opportunity cost of Bhutan’s remaining net negative.
“The country’s rivers generate low-carbon electricity and in addition to its electricity consumption are entirely powered by renewable resources,” the report stated. “Bhutan contributes to regional decarbonisation by exporting run-of-river hydroelectricity. With an initial focus on the hydropower and forestry sectors, the Fund will build on the country’s Kyoto Protocol experience, robust and transparent infrastructure systems, and strong political commitment, including the Carbon Market Rules approved in 2023.” The BCF’s initial capitalisation goal is $50 million, according to the report.
“The initial focus will be the run-of-the-river hydropower and forestry sectors. The government will develop infrastructure to participate in carbon markets,” it stated. Basically, Bhutan stands as an exceptional leader in the global fight against climate change, exemplifying a harmonious blend of tradition, innovation, and unwavering commitment to environmental stewardship. With its pledge to maintain a carbon-neutral status and its significant investments in sustainable development, this small Himalayan kingdom has become an inspiration for the world.
