COP28 UAE

On Monday, the COP28 Presidency delegation will be in Wuhan, China, to participate in the 8th Ministerial on Climate Action (MoCA). We will engage with ministers and other stakeholders to advance progress on the UAE Consensus and COP28 Presidential Action Agenda. During MoCA, the COP Presidencies Troika will host an Action and Ambition Majlis on supporting the conservation, protection and restoration of forests, sinks and reservoirs, and link synergies between the Biodiversity and Climate agendas. #COP28 #UAEConsensus #MoCA

The Oil & Gas Decarbonization Charter, a flagship initiative for the COP28 UAE Presidency, has onboarded over 50 oil and gas companies, including more than 30 national oil companies, the largest ever NOC commitment to decarbonization. These companies represent over 40% of global oil production, and for the first time, 23 of them are setting new 2050 net-zero operations targets, pledging zero routine flaring by 2030, and 35 of them are aiming for near-zero methane emissions by 2030. #COP28

Sweden decides to endorse the UAE Declaration of Leaders on a Global Climate Finance Framework, launched at COP28. This groundbreaking initiative is set to transform climate finance by framing investments in climate action as an unprecedented opportunity for economic growth and shared prosperity through a set of ten principles endorsed by key world leaders.   Learn more: https://lnkd.in/deEPCQ6j   #COP28

The COP28 Presidency and the UAE Ministry of Finance today co-chaired the meeting of country signatories to the Global Climate Finance Framework. The meeting focused on: - Advancing implementation of the Framework's principles - A review of technical work by the Independent High-Level Expert Group on Climate Finance (IHLEG) - Hearing suggestions from country signatories on next steps on implementation of the framework and maintaining political momentum on the agenda of IFI reform In his opening remarks, the COP28 Director-General underscored the urgency of concrete implementation of the Framework to promote an investment-focused, opportunity-centered narrative around climate finance. Learn more about the Global Climate Finance Framework here: https://lnkd.in/divdEYkw

The Global Climate Finance Framework focuses on three pillars: Collective Action, Opportunity for All, and Delivering at Scale, aiming for ambitious climate goals through fair, country-led transitions and diverse financial resources. It pushes for action on strengthening MDBs, finding solutions focused on debt and climate, boosting domestic resources, partnering with the private sector and philanthropy, and supporting high-integrity carbon markets, among other areas. #COP28  

On World Youth Skills Day, let’s highlight the importance of equipping youth with the necessary skills and providing them with opportunities to address the challenges of today for a more sustainable future. COP28 has been groundbreaking for youth inclusion, introducing unprecedented initiatives that place children and young people at the heart of the climate action process. Since COP28, several of our International Youth Climate Delegates have used the skills developed via the program to lead 18 LCOYs in their home countries and 4 RCOYs. #COP28 #YouthSkillsDay2024 #WorldSkillsDay

The COP28 Presidency congratulates the Philippines on its election as host country for the Board of the Fund for Responding to Loss and Damage. This is another important milestone in the Board’s mission to deliver on its mandate for the fund to be fully functioning by COP29. The COP28 Presidency continues to call for immediate action and implementation of a robust framework to support those most vulnerable to the effects of climate change. We call on all Parties to fulfill the financial pledges they made at COP28 to ensure we have a robust fund that delivers lasting, positive, socio-economic impact. #COP28 #UAEConsensus #LossAndDamage

Commenting on the International Renewable Energy Agency (IRENA)’s Renewable Energy Statistics 2024, COP28 President Dr. Sultan Al Jaber stressed the need to increase the pace and scale of development to meet the global goal of tripling renewable energy capacity by 2030, adding: “this moment provides a significant opportunity to add strong national energy targets in NDCs to support the global goal of keeping the 1.5°C target within reach. Above all, we must change the narrative that climate investment is a burden to it being an unprecedented opportunity for shared socio-economic development.” Read the report: https://lnkd.in/dZtNbxdS #COP28 #UAEConsensus

The COP28 Presidency tasked world-leading economists from the Independent High-Level Expert Group (IHLEG) to help develop and put forward policy options and recommendations to encourage and enable the investment and finance necessary to drive ambition and deliver on commitments. This work contributed to the development of The Global Climate Finance Framework, which aims to position climate investments as an unprecedented opportunity for economic growth and shared prosperity.    Learn more: https://lnkd.in/deEPCQ6j #COP28 

Parties made history on Day One at COP28 by operationalizing the loss and damage fund and funding arrangements after 30 years of negotiations. This outcome reflected global solidarity among Parties in support of developing countries vulnerable to climate impacts. The Second Board Meeting of the Fund for Responding to Loss and Damage is underway in Songdo, Republic of Korea, as the earliest recorded category 5 hurricane, Beryl, has left a trail of devastation across the Caribbean, marking the strongest hurricane at the start of the season in recorded history. The COP28 Presidency welcomes the Republic of Korea’s $7 million pledge to the Fund, and continues to encourage parties to scale and deliver new pledges. We must sustain and build on the momentum from COP28 to ensure that the Loss and Damage Fund is open for business by COP29, and ready to support those who need it most. #COP28 #UAEConsensus #LossAndDamage