COP 28 prioritizes on the sustainable finance’ strategies

The priorities for COP 28 are:

1. Accelerating the transition to clean energy sources.
2. Lowering carbon emissions.
3. Increasing and reforming climate finance; including underrepresented groups such as Indigenous peoples and local groups in the negotiations.
4. “Putting nature, people, lives and livelihoods at the heart of climate action.”

As featured in Devex by William Worley – Climate correspondent, this coming COP 28 puts climate finance at the center of the stage.

What does that look like?

• Expect a focus on Just Energy Transition Partnerships, or JETPs, which help finance the decarbonization of economies by decommissioning coal plants, for example. The summit could accelerate work on these deals through some sort of package or group approach.
• Jaber called for pledges to the United Nations’ Green Climate Fund, and more funding to help countries adapt to climate change. Also expect more focus on the loss and damage fund agreed last year — though donors have yet to really pony up cash, and U.S. climate envoy John Kerry seemed to rule out the U.S. government participation last week.

COP 28 will be held in Expo City Dubai, UAE from 30 November to 12 December 2023. It is expected to be a transformative COP, and to benefit all parties.  As written in the tag line: “This COP 28 has escorted the half journey which was 7 years since Paris Agreement and another 7 years to reach its 2030 aims. Therefore, to call all parties’ serious efforts to respond to the facts of the mandatory to reduce emissions by 43% by 2030 and to course correct on adaptation, finance and loss and damage.

Related Links:

1. https://www.cop28.com/en/
2. https://www.devex.com/news/what-s-inside-the-uae-s-action-plan-for-cop-28-105898?access_key=&utm_source=nl_invested&utm_medium=email&utm_term=article-pro&utm_content=text&mkt_tok=Njg1LUtCTC03NjUAAAGNCICVx7RoE75RcY76ZfxnkGxNu_6ie0-AVAHElw9u0-DdesMklzWLguSYlKF7c8ORlgWBAs3KATHWaKoTVbtBd6BgqmWlhXsMANaAAcQTjuLCgbU