COP 28 Special Bulletin.
On December 13th, 2023, the 28th Conference of the Parties (commonly known as COP 28) of the United Nations Framework Convention on Climate Change (UNFCCC) concluded in Dubai, United Arab Emirates.
The diplomatic negotiations among the Parties resulted in the adoption of various documents, with a notable focus on the Global Stocktake, considered a historic milestone as the first global assessment of collective progress in meeting the climate agenda outlined in Article 14 of the Paris Agreement.
In addition to the COP diplomatic negotiations, both countries and organizations announced new voluntary commitments in the fight against climate change. We present a brief analysis below.
I. Global Stocktake
The first Global Stocktake is the key document adopted by the Parties based on Decision FCCC/PA/CMA/2023/L.17[1]. It reviewed the climate action efforts that countries have undertaken since 2015, culminating in an increase in commitments aimed at achieving the goals of the Paris Agreement. These commitments primarily aim to prevent global warming from exceeding 1.5°C by the end of this century, marking a crucial step towards global climate change mitigation.
Under this agreement, there was a recognition of the need to reduce global Greenhouse Gas (GHG) emissions by 43% by 2030 and 60% by 2035 compared to 2019 levels, with the ultimate goal of achieving net-zero carbon dioxide emissions by 2050.
It also encourages Parties to submit ambitious economy-wide emission reduction targets in their upcoming Nationally Determined Contributions (NDCs). These targets should encompass all GHGs, sectors, and categories, aligning to limit global warming to 1.5°C, taking into account different national circumstances.
The document highlights that 68 Parties to the Paris Agreement have communicated long-term, low-emission development strategies, and notes that 87% of the global economy, in terms of Gross Domestic Product share, is covered by climate neutrality, carbon neutrality, greenhouse gas neutrality, or net-zero emissions goals.
However, it expresses concern over the shrinking and rapidly depleting carbon budget compatible with achieving the temperature goal of the Paris Agreement. It recognizes that cumulative net historical carbon dioxide emissions already account for about four-fifths of the total carbon budget, with a 50% probability of limiting global warming to 1.5°C.
Among other things, the decision also urged Parties to contribute, at the national level, to global efforts to:
(a) Tripling renewable energy capacity globally and doubling the global average annual rate of energy efficiency improvements by 2030;
(b) Accelerating efforts towards the phase-down of unabated coal power;
(c) Accelerating efforts globally towards net zero emission energy systems, utilizing zero- and low-carbon fuels well before or by around mid-century;
(d) Transitioning away from fossil fuels in energy systems, in a just, orderly, and equitable manner, accelerating action in this critical decade, to achieve net zero by 2050 in keeping with the science;
(e) Accelerating zero- and low-emission technologies, including, inter alia, renewables, nuclear, abatement and removal technologies such as carbon capture and utilization and storage, particularly in hard-to-abate sectors, and low-carbon hydrogen production;
(f) Accelerating and substantially reducing non-carbon-dioxide emissions globally, including in particular methane emissions by 2030;
(g) Accelerating the reduction of emissions from road transport on a range of pathways, including through the development of infrastructure and rapid deployment of zero-and low-emission vehicles;
(h) Phasing out inefficient fossil fuel subsidies that do not address energy poverty or just transitions, as soon as possible.
Additionally, it emphasizes that transition fuels can contribute to facilitating the energy transition while ensuring energy security.
The importance of conserving, protecting, and restoring nature and ecosystems was also underscored, along with intensifying efforts to halt and reverse deforestation and forest degradation by 2030 to achieve the temperature goal of the Paris Agreement. Parties were invited to conserve, preserve, and restore other terrestrial and marine ecosystems acting as sinks and reservoirs of GHGs, while ensuring social and environmental safeguards and conserving biodiversity.
In this context, it emphasized the need to increase support and investment to enhance efforts to halt and reverse deforestation and forest degradation by 2030, including through results-based payments for activities related to emission reduction from deforestation and forest degradation, conservation, sustainable forest management, and increasing forest carbon reserves in developing countries.
II. Issues related to adaptation
Moreover, the Global Stocktake called for urgent, incremental, transformative, and country-driven adaptation measures based on different national circumstances. It encouraged the implementation of integrated and multisectoral solutions, such as land use management, sustainable agriculture, resilient food systems, nature-based solutions, ecosystem-based approaches, and the protection, conservation, and restoration of nature and ecosystems, including forests, mountains, and other terrestrial, marine, and coastal ecosystems, which can provide economic, social, and environmental benefits.
In addition, the Parties adopted a framework[2] for the Global Goal on Adaptation (GGA), with global targets for 2030. These targets include all Parties conducting impact, vulnerability, and risk assessments; adopting and implementing adaptation plans and policy instruments; and establishing monitoring, evaluation, and learning systems for their national adaptation efforts. All of this is aimed at achieving adaptation goals, emphasizing the need for financing, technology, and capacity-building support.
III. Governance Instrument for the Loss and Damage Fund
Furthermore, the Parties reached an agreement[3] on the operationalization of the Loss and Damage Fund (Fund), which had been established at COP 27 in Sharm El Sheikh, Egypt. The Fund will be initially hosted by the World Bank and governed and overseen by a board composed of 26 geographically distributed members. As of now, the Fund has been constituted with approximately $800 million.
The Fund’s objective is to assist developing countries that are particularly vulnerable to the adverse effects of climate change in responding to losses and damages associated with such effects, including extreme weather events and slow-onset events.
In particular, it will provide funding to address a variety of challenges such as climate-related emergencies, sea-level rise, displacements, migrations, and resilient reconstruction, among others.
IV. Other announcements
Additionally, in light of the COP 28 celebration, various announcements were made, supplementary to the agreements reached through the negotiations of the UNFCCC Parties. Some noteworthy announcements include:
– Critical Minerals for the Energy Transition Panel:
The UN Secretary-General announced his intention to establish a group of experts to ensure that the transition from fossil fuels to renewable energy is fair, sustainable, and beneficial for all countries. He proposed the creation of a Panel on Critical Minerals for the Energy Transition, bringing together governments, international organizations, industry, and civil society to develop common and voluntary principles guiding extractive industries in the coming years. Particularly, it aims to support developing countries that host a significant portion of the minerals essential for the energy transition. This announcement is of great relevance to Argentina, which is the fourth-largest producer of lithium, a crucial mineral in the transition to renewable energy.
The Secretary-General emphasized, “The extraction of minerals essential for the clean energy revolution, from wind farms to solar panels and battery manufacturing, must be done sustainably, fairly, and equitably. We cannot repeat the mistakes of the past.”
– Declaration on Sustainable Agriculture, Resilient Food Systems, and Climate Action:
Over 130 countries signed a voluntary declaration highlighting the importance of sustainable agriculture, resilient food systems, and climate action[4]. Although non-binding, countries committed to including food and agriculture in their national plans and public policies to combat climate change and increase funding before COP 30, scheduled for 2025 in Brazil.
Commitments were also made to reduce emissions in the sector, minimize the impact on water and ecosystems, and improve soil health and biodiversity. The agreement underscored the importance of nature conservation, intending to halt deforestation by 2030, a commitment previously agreed upon at COP 26 in 2021.
– Climate and Health Declaration:
Over 120 countries[5] signed the Climate and Health Declaration, marking a milestone that recognizes the growing impacts of climate change on global health. Presented by the COP 28 Presidency in collaboration with the World Health Organization (WHO) and the Ministry of Health of the United Arab Emirates, the declaration places health at the center of climate action and aims to accelerate the development of climate-resilient, sustainable, and equitable health systems.
Among other issues, countries committed to (i) strengthening the implementation of policies maximizing health benefits from mitigation and adaptation actions and preventing worsening impacts of climate change on health, (ii) promoting measures to curb emissions and reduce waste in the health sector.
New financial commitments were announced, including $300 million from the Global Fund to prepare health systems and $100 million from the Rockefeller Foundation for climate and health solutions.
– Sustainable Urban Development:
New initiatives were announced during COP 28 to boost climate action in cities, covering buildings, waste, transportation, water, and nature. Among the announcements are (i) the “Advancing Cement and Concrete” initiative aiming to make clean cement the preferred option in global markets, with near-zero-emission cement production, (ii) the “Advancing Buildings” initiative aiming to make “resilient and near-zero” buildings the new normal by 2030, and (iii) the “Guide for the Development of Nature-Positive Infrastructure” emphasizing the construction sector’s role in the conservation and restoration of natural ecosystems. The guide draws on some of the world’s most significant infrastructure projects to provide professionals with a wide range of nature-based solutions.
Other announcements included a tool to track and measure methane emissions from waste, which will be implemented in 20 global megacities.
– Oil and Gas Decarbonization Charter (OGDC):
50 oil and gas companies joined the Oil and Gas Decarbonization Charter (OGDC)[6], a global initiative to accelerate climate action in the industry. The charter aims to align the industry towards net-zero emissions by 2050 or earlier, reduce methane emissions in exploration and production to near-zero levels, and end routine flaring by 2030.
The signatory companies represent over 40% of global oil production, with significant commitments from National Oil Companies (NOCs) constituting 50% of the signatories, marking the largest number of NOCs committed to a decarbonization initiative. Signatories include Exxon, Saudi Aramco, Equinor, Petronas, Repsol, Total Energies, Trafigura, Petrobras, and YPF, among others.
– Nuclear Energy:
Over 20 countries[7] agreed during COP 28 to triple the current global nuclear energy capacity by 2050. They also committed to take national measures to ensure that nuclear power plants operate responsibly and following the highest standards of safety, sustainability, protection, and non-proliferation, and that fuel waste is managed responsibly in the long term.
Additionally, they pledged to support the development and construction of nuclear reactors, including small modular reactors and other advanced reactors for power generation, as well as broader industrial applications for decarbonization, such as hydrogen or synthetic fuel production.
– Clean Hydrogen Intent Declaration:
Over 30 countries[8] launched the COP 28 Declaration of Intent on the Mutual Recognition of Certification Schemes for Renewable Hydrogen and Low-Carbon Hydrogen Derivatives. The aim is to work towards mutual recognition of hydrogen certification schemes to facilitate a global market and unlock decarbonization and economic efficiency opportunities.
– Steel Standards Principles for Decarbonization:
The Steel Standards Principles, agreed upon by standard-setting bodies, international organizations, over 35 key steel producers, and industrial associations (including the World Steel Association, Latin American Steel Association, Climate Group, and World Trade Organization, among others), are designed to align the measurement of greenhouse gas emissions in the steel and iron sector to accelerate the transition to near-zero emissions.
– IDB Climate
The Inter-American Development Bank (IDB) announced the first 9 projects eligible to be part of the “IDB Climate” pilot program. This innovative financial approach will reward borrowers for achieving nature and climate-related goals, providing a grant of 5% of the IDB loan principal. With this, the IDB has become the first multilateral development bank to offer a financing tool that rewards countries for achieving nature and climate-related goals.
The purpose of IDB Climate is to facilitate countries’ access to green and thematic debt markets to mobilize capital on a larger scale for climate and nature-related investments. Initially, it will fund 10 pilot projects with a total loan allocation of $1 billion. The first 9 participating countries are Barbados, Belize, Brazil, Chile, Colombia, Paraguay, the Dominican Republic, Suriname, and Uruguay. The complete list of projects and countries will be revealed at the IDB Annual Meeting in March 2024.
– Investments by the Development Bank of Latin America and the Caribbean (CAF):
The Development Bank of Latin America and the Caribbean (CAF) announced a $15 billion investment until 2030 to boost measures in adaptation and natural disaster risk management. It also declared a $2 billion investment to preserve the Amazon, one of the planet’s most important strategic ecosystems. Actions to be taken include managing protected areas, developing productive chains, promoting sustainable tourism and resilient Amazonian cities, generating knowledge, and coordinating among countries and local communities.
CAF will adopt a comprehensive approach to enhance each of the region’s strategic ecosystems, aiming to improve preservation and regeneration and provide social, environmental, and economic benefits for both countries and the communities inhabiting them.
– Norway Joins the Glasgow Declaration:
Norway joined the Clean Energy Transition Partnership (CETP), also known as the Glasgow Declaration. The CETP now has 40 signatories, including the United States, Canada, and many European Union countries, committed to annually shifting billions of dollars from fossil fuels to clean energy. Norway’s inclusion, being a significant producer of oil and gas, increases the impact of the initiative.
– Net-Zero Data Utility Public Benefit (NZDPU):
French President Emmanuel Macron and the UN Secretary-General’s Special Envoy for Climate Ambition and Solutions, Michael R. Bloomberg, presented the prototype of the Net-Zero Data Utility Public Benefit (NZDPU). This will be the first global, centralized, and open repository of private sector climate transition data, freely and openly accessible.
The NZDPU is designed to provide transparency in a central set of private sector climate data, crucial for the transition to climate neutrality. In the long term, the Utility is designed to integrate into the UNFCCC Global Climate Action Portal (GCAP), enabling greater monitoring of private sector climate commitments and progress within the UNFCCC Portal.
– Global Roadmap for Zero-Emission Vehicles Transition:
The Zero-Emission Vehicles Transition Council (ZEVTC) presented the Global Roadmap for Zero-Emission Vehicles Transition. A comprehensive package of global actions was introduced to strengthen international support for emerging markets and developing economies in the current decade. The Roadmap details how governments and international partners will drive significant change in the road transport sector.
Additionally, $400,000 in new initial funds were announced for the ZEV Rapid Response Facility (ZEV-RRF) by the Electric Mobility Campaign, aiming to provide more personalized support to developing countries and emerging markets (EMDEs). The list of ZEV-RRF recipient countries will also expand to include signatories of the Global Memorandum of Understanding on Medium and Heavy-Duty Zero-Emission Vehicles.
– CEM Battery Storage Overcoming Initiative:
Member governments of the Clean Energy Ministerial (CEM), co-led by the European Commission and Australia with the support of the United States and Canada as participants, announced the launch of the CEM Battery Storage Overcoming Initiative. The goal is to drive global battery storage deployment to provide electricity to isolated and off-grid communities, reducing reliance on fossil fuels for power generation.
The initiative aims to promote the development of stationary battery storage and reduce the technology’s cost through international cooperation and alignment to build a diversified, sustainable, responsible, safe, and transparent supply chain. It seeks to promote grid stability and reliability and support global renewable energy integration.
– Methane Global Commitment (GMP) Highlights:
During the ministerial meeting of the Global Methane Pledge (GMP), ministers received transformative national actions and significant financing to achieve the goal of reducing methane emissions by at least 30% by 2030. The United States announced standards to drastically reduce methane emissions from gas and oil operations, and the European Union set ambitious monitoring and reduction criteria for the same sector and coal, even establishing a methane import standard by 2030.
In 2023, GMP partners announced over $1 trillion in new grant funds, commitments, and innovative national legislations and transformative data tools, including the full launch of the Methane Early Warning and Response System and a new Methane Data for Action Campaign.
– Business and Philanthropy Climate Forum (BPCF):
Over 1,300 prominent global business and philanthropic leaders gathered with leaders of multilateral development banks and politicians from emerging economies at the Business and Philanthropy Climate Forum (BPCF). Key announcements were made regarding nature preservation, energy transition, an accelerator for methane reduction, and an initiative to decarbonize health supply chains.
Noteworthy initiatives include the “Industrial Transition Accelerator” launched by Bloomberg Philanthropies, aiming to drive the implementation of transition actions in key sectors such as energy, heavy industry, and transportation, as well as in finance and public policy, marking the largest effort to date for global decarbonization.
– United States
During COP 28, the United States made various commitments related to the climate agenda, with notable highlights:
o Pre-COP 28 Agreement with China
Before COP 28, the United States and China committed to the continued effective and sustained implementation of the April 2021 U.S.-China Joint Statement on the Climate Crisis and the November 2021 U.S.-China Joint Glasgow Statement on Strengthening Climate Action in the 2020s. Both countries affirmed their commitment to the effective implementation of the UNFCCC and the Paris Agreement and its decisions. The United States and China emphasized the significance of COP 28 in responding significantly to the climate crisis during this critical decade and beyond. They declared their intention to collaborate and other Convention and Paris Agreement Parties to address the challenges of climate change.
The agreement covers issues related to energy transition, methane emissions, circular economy, and forests, among others
o U.S. Greenhouse Gas Center
The United States, through NASA (National Aeronautics and Space Administration), the EPA (Environmental Protection Agency), and other public agencies launched the U.S. Greenhouse Gas Center. This center will collect greenhouse gas (GHG) data and analysis tools.
Presented at COP 28, this innovative tool will serve as a collaboration hub among agencies throughout the U.S. government, as well as with non-profit and private sector partners. Data, information, and computer models based on observations from the International Space Station, various satellite and airborne missions, and ground stations are available online.
o Energy Transition Accelerator (ETA):
The U.S. Department of State, the Bezos Earth Fund, and the Rockefeller Foundation introduced the Energy Transition Accelerator (ETA), an innovative carbon finance platform to mobilize private capital and support energy transition strategies in developing economies. The ETA will focus on accrediting high-integrity emissions and is expected to mobilize up to $207 billion in transition finance by 2035, incentivizing the decarbonization of the global electricity sector.
The ETA will have an independently accredited sectoral standard to reduce electricity generation emissions, establish criteria for corporate participation, describe how companies would use ETA carbon credits to meet voluntary climate commitments and ensure a just transition considering the needs of workers and communities.
The ETA is backed by governments and companies, including Chile, the Dominican Republic, and Nigeria, which will join as pilot countries. Nine leading companies, such as Bank of America and Mastercard, expressed interest in supporting the transformation of the electricity sector through this innovative approach.
o U.S.-Canada Joint Declaration on Railway Emissions Reduction:
The U.S. Department of Energy, the U.S. Department of Transportation, and the Canadian Ministry of Transportation announced the creation of a Rail Decarbonization Working Group intending to develop a common vision to reduce emissions from the railway sector. Measures announced include boosting research to test new technologies, accelerating a safe transition, and achieving net zero in the sector by 2050 at the latest.
o U.S.-Canada Joint Declaration on Climate and Nature Ambitions:
The United States and Canada jointly committed to renew and accelerate their collaborative efforts to combat the climate crisis and increase the economic benefits of cooperation.
Both countries proposed regulations to achieve clean electricity commitments by 2035, highlighting investments and measures to reduce emissions in key sectors. Additionally, they renewed commitments to drastically reduce methane emissions in the oil and gas sector, with specific measures and the intention to coordinate efforts, emphasizing the importance of precision in measurement and environmental justice.
Furthermore, they declared their ambition to advance carbon management, promote low-emission building materials, boost sustainable goods trade, accelerate transportation decarbonization, reduce the social cost of carbon, improve environmental impact assessment procedures, and conserve forests and oceans.
o Joint Statement Supporting Brazil’s Ecological Transformation Plan:
In a joint statement, Brazil and the United States announced their intention to cooperate bilaterally, and with other partners, to advance the implementation of Brazil’s Ecological Transformation Plan. This includes efforts to enhance and expand the use of various instruments that increase financing and support flows from governments, philanthropic entities, the private sector, and multilateral partners for plan implementation and other climate priorities.
The collaboration aims to accelerate ecological transformation, focusing on technology, including artificial intelligence, to facilitate regulatory frameworks and improve forest monitoring systems.
The Brazilian government seeks to convene meetings with governmental partners and other stakeholders, including the United States, to explore how instruments can support plan implementation. A first meeting is scheduled for February 2024, before the G20 Finance Ministers Meeting.
o Key Announcements by the U.S. Agency for International Development (USAID):
Among other announcements, the U.S. Agency for International Development (USAID) signed a memorandum of understanding with two private sector partners, BG Titan and Genesis Energy Group, who will invest up to $10 billion in renewable energy, sustainable housing and infrastructure, and climate-resilient agriculture projects over the next 5 years.
Additionally, USAID exceeded its $215 million commitment to the Consultative Group on International Agricultural Research (CGIAR) 2 years ahead of schedule and announced an additional $100 million investment for the next 2 years. These investments support millions of small farmers in accessing climate innovations and aim to address the need to safeguard and adapt food systems.
Furthermore, USAID announced a $53.6 million investment commitment to strengthen resilience and advance mitigation solutions in cities across Asia, Colombia, Mexico, Southern Africa, and the Caribbean. These investments will address subnational climate preparedness, urban transport decarbonization, and energy efficiency in buildings, among other aspects, to mobilize over $1 trillion in public and private climate financing for urban climate action.
– Europe
Before the COP 28, the European Parliament approved Resolution 2023/2636(RSP)[9] . Among other provisions, it: (i) urges all Parties of the European Union (EU) to ensure robust standards for cooperative mechanisms under Article 6 of the Paris Agreement, (ii) celebrates that several trading partners of the EU have introduced carbon trading mechanisms or other carbon pricing mechanisms and invites the Commission to continue promoting this policy, (iii) highlights that the Carbon Border Adjustment Mechanism (CBAM) will provide an effective instrument to price emissions from products imported to the EU and address carbon leakage, (iv) emphasizes that agriculture should contribute to protecting and restoring biodiversity, (v) notes that many countries vulnerable to climate change face debt issues or are at significant risk; it welcomes the commitment made by the World Bank, the Inter-American Development Bank, the United Kingdom, France, Canada, and the United States to include clauses related to climate resilience in future loans. These clauses would allow the suspension of debt repayment in case of climate-related disasters, among other aspects.
V. Argentina
During the development of COP 28, Argentina experienced a change in the national government administration.
In 2023, before COP 28, Argentina issued various regulations on climate change that were presented at the conference as a reflection of its regulatory progress. Notable among them are:
• Second National Plan for Adaptation and Mitigation to Climate Change (Resolution 146/2023 of the Ministry of Environment and Sustainable Development of the Nation).
• National Health and Climate Change Strategy (Joint Resolution 2/2023 of the Ministry of Environment and Sustainable Development and the Ministry of Health of the Nation).
• Resilient Low-Emission Long-Term Development Strategy by 2050 (Resolution 218/2023 of the Ministry of Environment and Sustainable Development of the Nation).
• National Energy Transition Plan by 2030 (Resolution 517/2023 of the Ministry of Economy of the Nation).
• Guidelines and Scenarios for Energy Transition by 2050 (Resolution 518/2023 of the Ministry of Economy of the Nation).
• National Strategy for Sustainable Finance (Resolution 696/2023 of the Ministry of Economy of the Nation).
• Sustainable Sovereign Financing Framework (Resolution 1643/2023 of the Ministry of Economy of the Nation).
• National Strategy for the Use of Carbon Markets (Resolution 385/2023 of the Ministry of Environment and Sustainable Development of the Nation).
VI. Message from Pope Francis
Pope Francis, despite not being able to attend COP 28 in person as originally planned, encouraged urgent climate action, emphasizing that the poor are the main victims of climate change. He advocated for the remission of economic debts for the most affected countries and called for the creation of a global fund to combat hunger and promote measures to address climate change.
Additionally, months before COP 28, he issued the document “Laudate Deum”, in which he called for accelerating “the energy transition with effective and monitorable commitments.”
VII. Next COPs
COP 29 will take place in Baku, Azerbaijan, in November 2024, and COP 30 will be organized by Brazil in Belém do Pará in 2025.
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Notes
1. Available at: https://unfccc.int/sites/default/files/resource/cma2023_L17_adv.pdf
2. Available at: https://unfccc.int/sites/default/files/resource/cma2023_L18_adv.pdf
3. Available at: https://unfccc.int/sites/default/files/resource/cp2023_L01_cma2023_L01S.pdf
4. Available at: https://www.cop28.com/en/food-and-agriculture
5. Among others, Argentina, Australia, Brazil, Chile, Ecuador, the United States, the European Union, Mexico, Canada, Finland, France, Hungary, Italy, Japan, Poland, Uruguay, Spain, Ukraine, the United Arab Emirates, and the United Kingdom.
6. Available at: https://www.cop28.com/-/media/Project/COP28/PRs/PDF-Files/231202_-President-Launches-OGDC-PRL-Announcement_Release.pdf?rev=9a3e1d4a5b384d7ba1b901929cedb681
7. Among others, the United States, Bulgaria, Canada, the Czech Republic, Finland, France, Ghana, Hungary, Japan, South Korea, the Netherlands, Poland, Romania, Slovakia, Slovenia, Sweden, Ukraine, the United Arab Emirates, and the United Kingdom.
8. Antigua and Barbuda, Armenia, Australia, Belgium, Brazil, Brunei, Canada, Chile, Egypt, France, Germany, Ghana, Hungary, India, Italy, Japan, Republic of Korea, Malaysia, Mauritania, Moldova, Morocco, Namibia, Netherlands, New Zealand, Nigeria, Norway, Oman, Papua New Guinea, Paraguay, Portugal, Sierra Leone, Singapore, United Kingdom, United Arab Emirates, Ukraine, United States of America, Uruguay, and Yemen.
9. Available at: https://www.europarl.europa.eu/doceo/document/TA-9-2023-0407_ES.html
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Sincerely,
Manuel Frávega