It's a wrap: COP28 ends by highlighting the "fundamental role of innovation"

COP28 has drawn to a close, and 198 parties have united behind the “UAE Consensus”, billed as “an enhanced, balanced and historic package to accelerate climate action”.

As has been widely reported, the COP28 Global Stocktake decision text calls upon Parties to “contribute to the following global efforts, in a nationally determined manner, taking into account the Paris Agreement and their different national circumstances, pathways and approaches” … “Transitioning away from fossil fuels in energy systems, in a just, orderly and equitable manner, accelerating action in this critical decade, so as to achieve net zero by 2050 in keeping with the science."

How will this be achieved? In this respect, the decision text underlines:

“the fundamental role of technology development and transfer, endogenous technologies and innovation in facilitating urgent adaptation and mitigation action aligned with achieving the goals of the Paris Agreement and sustainable development”

and recognizes that:

“achieving the long-term goals of the Paris Agreement requires the rapid and scaled-up deployment and adoption of existing clean technologies and accelerated innovation, digital transformation and development, demonstration and dissemination of new and emerging technologies, as well as increased access to those technologies, supported by appropriate enabling frameworks and international cooperation."

Another, perhaps less well-reported, text released at COP28 was the 2^nd edition of the World Intellectual Property Organization's (WIPO) “Green Technology Book". This edition focuses on climate change mitigation, highlighting critical innovations in key sectors including Industry, Agriculture & Land Use, and Cities.

The Green Technology Book is designed to be “a practical guide for policymakers, industry, investors, researchers and many others”, helping breakthrough technologies and solutions get to where they are most needed.

One of the top ten findings of the latest edition of the Green Technology Book mirrors the Global Stocktake decision text, arguing that “Innovation is essential. Current climate technologies are often costly and inaccessible in many regions. Localized adaptation of these technologies, innovation co-development, and the support and recognition of locally-invented, endogenous or indigenous peoples’ technologies is critical."

The book also points out that “The vast majority of climate technologies needed to halve emissions by 2030 are already available. Focusing too much on future breakthrough technologies might mean we miss out on the opportunity to invest in and grow the solutions we have now.”

And finally, the Green Technology Book states that “Intellectual property rights are a cornerstone of well-functioning innovation ecosystems as well as for technology transfer." A wide range of climate technologies are being developed. They are the result of effective innovation ecosystems.”

Throughout these two important texts, the importance of innovation is noted again and again. Clearly, innovation does not happen in a vacuum - it relies upon funding, infrastructure and systems, and the confidence that innovators will be rewarded for their work. Intellectual property rights, such as patents, registered designs and trade marks, are indeed key in this respect, and practically every country in the world now recognises this fact and has appropriate IP systems in place.

Marks & Clerk has trusted contacts and offices around the world, so wherever you need to protect your innovation, we can help.

Can intellectual property help accelerate the race to net zero? Visit our Energy Transition hub to find out