ASIATODAY.ID, JAKARTA – The first COP28 Business Climate & Philanthropy Forum, hosted by the COP28 Presidency, will open on November 30 at Expo City, Dubai, United Arab Emirates.
The forum, taking place on 1-2 December in conjunction with the World Climate Action Summit, will bring together more than 1000 Heads of State, Government, business CEOs, philanthropists and heads of NGOs seeking to accelerate and demonstrate progress on climate targets and industrial transition through dynamic, public, private, philanthropic collaboration.
The first multi-stakeholder engagement forum was driven by the UAE’s ambition to host an inclusive climate conference that garners full and broad support with the involvement of all regions of the world.
“We are committed to hosting a fully inclusive COP, and this would not be possible without important input from our corporate and business world. philanthropic community. The Business Climate & Philanthropy Forum at COP28, is an important part of our Presidential agenda, and will help deliver real results from the private and philanthropic sectors. “The time is now for businesses and philanthropists to take a leading role in helping the world achieve a net zero path,” said COP28 President, Dr. Sultan Al Jaber quoted from the COP28 press release from Jakarta, Friday, November 24 2023.
The Forum has announced a ‘Collective Action Summary’ which is the preservation of high-level initiatives and results supported by the four main pillars of the COP28 Action Agenda namely Energy Transition, Climate Finance, People & Nature, and Inclusion.
This showcase showcases initiatives that seek to harness the power of global decision makers in the public, private, and philanthropic sectors to urgently address the climate crisis, achieve net-zero emissions, reverse environmental degradation, and restore biodiversity.
Examples of initiatives that will be implemented at this Forum include:
- The Climate Investment Platform is a climate technology fund to scale up proven climate technologies in countries of the South with a focus on reducing emissions.
- Climate and Nature Moonshots funding for innovation projects focused on Coral Restoration and Energy Transition.
- First Movers Coalition is a partnership committed to purchasing environmentally friendly technology-based products/services to support the decarbonization of industrial sectors with high emissions.
- The Indigenous People’s Outcome is a fund that provides direct financing to Indigenous Peoples and their organizations, to help them protect and restore nature and biodiversity.
COP28 Special Representative for Business and Philanthropy and Chair of the Forum, Badr Jafar, stated “We are starting to make real and meaningful progress towards a green transition by putting the private sector at the heart of the conversation. Our action-oriented agenda is addressed to the world’s leading decision makers, aiming to accelerate, replicate, and expand public-business-philanthropic partnerships, while shifting the dialogue from billions to trillions needed.”
Jennifer Jordan-Saifi, CEO of the Sustainable Markets Initiative, commented “A sustainable future is the growth story of our time. To achieve this, we need to define and align state, industrial and financial roadmaps. We also need to recognize and celebrate the steps that leaders, companies and investors are taking in the right direction. The COP28 Business Philanthropy and Climate Forum is a unique opportunity for the world’s leading decision makers to work together with their peers to raise ambition, assess progress and maintain a mirror of accountability.”
The Forum’s strategic delivery partner is the Sustainable Markets Initiative (SMI). Other Forum organizing partners include: International Finance Corporation (IFC), Organization for Economic Co-operation and Development – Network of Foundations Working for Development (OECD netFWD), World Economic Forum (WEF), Asian Development Bank (ADB), Africa Finance Corporation (AFC), Bill & Melinda Gates Foundation (BMGF), IDB Invest, World Business Council for Sustainable Development (WBCSD) and XPRIZE. (AT Network)
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