This year's logistics

The impending 28th Conference of the Parties (COP 28) to the United Nations Framework Convention on Climate Change is poised to take place from November 30th to December 12th, marking a significant juncture in global climate discussions. Notably, this event will break new ground by being hosted in Expo City, Dubai, underscoring the urgency of international cooperation in the face of climate challenges.

As always, COP 28 is anticipated to convene a distinguished assembly of preeminent climate experts, green financiers, and policymakers from around the world. The primary objective of the conference is to evaluate and discuss the advancements made by countries, organizations, and companies in their collective battle against climate change. Additionally, the event aims to foster the introduction of innovative initiatives that can further propel the global climate agenda.

COP 28’s objectives look to yield significant change compared to years past

Reflecting on the achievements and shortcomings of the preceding COP 27, which made strides in "loss and damage" financing but faced criticism for insufficient action on emission reduction, COP 28 organizers are determined to focus on novel areas of climate engagement.

At the helm of COP 28 is Sultan Ahmed Al Jaber, the Minister of Industry and Advanced Technology and UAE Special Envoy for Climate Change. Al Jaber has outlined four key goals for the conference. First, he emphasizes expediting the energy transition and achieving substantial emission reductions before 2030, advocating for a "phase-down of fossil fuels." However, activists argue that this falls short of the more ambitious goal of phasing out fossil fuels entirely.

Secondly, Al Jaber is committed to reshaping climate finance, including the fulfillment of the $100 billion annual commitment made in COP 27 to support developing countries. This entails urging international financial institutions, such as the World Bank, to play a more active role in climate initiatives.

The third goal is centered on prioritizing people, nature, lives, and livelihoods in climate action. This signifies a reorientation of priorities to ensure that the human and environmental aspects of climate advocacy remain paramount amid the intensifying battle against emissions.

Lastly, COP 28 aims to be the most inclusive iteration to date. Despite being hosted in a non-democratic country with strict controls on freedom of speech and representation, the UAE has pledged to encourage diversity and unrestricted expression. However, concerns persist about the extent of this inclusivity.

Anticipated as one of the most pivotal climate events of the year, COP 28 holds the potential to serve as the genesis of comprehensive global climate agreements. Stakeholders in the sector are urged to remain vigilant and stay abreast of policy updates. 

Fortunately for sustainable-minded investors, Physis offers a solution for tracking global policymaking, providing asset managers with timely insights to ensure compliance within their portfolios. With Physis, actionable information about the sustainability of a portfolio is readily accessible within seconds, facilitating informed decision-making in the ever-evolving landscape of climate policy. Learn more about how Physis helps investors here.