COP28 Business & Philanthropy Climate Forum: A Global Call to Action
The COP28 Business & Philanthropy Climate Forum is set to be a pivotal event, bringing together global Heads of State & Government, Business CEOs, and Philanthropists on a common platform at Expo City, Dubai, United Arab Emirates, from November 30 to December 2, 2023.
Accelerating Progress on Climate Action and Industry Transition
This inaugural forum, hosted by the COP28 Presidency, aims to accelerate progress on climate action and industry transition. It’s a dynamic collaboration between public, private, and philanthropic sectors, emphasizing the UAE’s commitment to hosting an inclusive climate conference.
Key Initiatives Unveiled
The Forum, aligned with the COP28 Action Agenda, introduces key initiatives:
- Blended Finance for Climate Projects: Supporting initiatives in emerging markets and developing economies.
- Commercial Nature Fund: Linked to supply chains to foster sustainable practices.
- Market-Based Demand Signals: A mechanism to drive sustainable market practices.
- Funding for Indigenous Peoples: Supporting efforts to protect and restore nature and biodiversity loss.
Also Read: UAE Hosts COP28 Climate Conference with ADNOC CEO Sultan al-Jaber as President
Countdown to Forum Launch
Scheduled to open on November 30, the Forum is set to coincide with the World Climate Action Summit. Over 1000 global leaders from diverse sectors will converge to showcase and expedite progress on climate targets and industry transition.
‘A Showcase Compendium of Collective Action’
The Forum unveils a comprehensive compendium outlining high-level outcomes focused on Energy Transition, Climate Finance, People & Nature, and Inclusion.
Noteworthy Initiatives in the Spotlight
- Climate Investment Platform: A fund to scale up proven climate technologies in the Global South.
- Climate and Nature Moonshots: Funding for innovation projects centered around Coral Restoration and Energy Transitions.
- First Movers Coalition: Committing to purchasing products/services based on clean technologies for high emitting industrial sectors.
- Indigenous People’s Outcome: A fund providing direct financing for Indigenous Peoples and organizations to protect and restore nature and biodiversity.
The Role of Business and Philanthropy
COP28 President, Dr. Sultan Al Jaber, emphasizes the pivotal role of the private sector, stating, “The time is now for businesses and philanthropists to step up and play a leading role in helping the world meet net-zero pathways.”
Acknowledging the Partners
The Forum’s strategic delivery partner is the Sustainable Markets Initiative (SMI), with additional partnerships with prominent organizations including the World Economic Forum, Bill & Melinda Gates Foundation, and XPRIZE.
Seizing the Future: A Call to Action
As we anticipate the Forum’s launch, the business and philanthropic communities are poised to take a leading role in shaping a sustainable future. The COP28 Business & Philanthropy Climate Forum stands as a beacon of collaboration and collective action, emphasizing that the time for change is now.
Published on [cop28.com]
Prachi, an accomplished Chief-Editor at The Sustainable Brands Journal, has 15+ years of experience in Europe, the Middle East, and India, managing 90+ global sustainable brands. She’s a prolific writer in sustainability, contributing to various publications. Prachi’s unwavering passion and expertise make her a recognized authority, driving positive change and inspiring a sustainable future.
