Browsing: COP28

At COP28, Tanzanian President, H.E. Samia Suluhu Hassan, introduces the African Women Clean Cooking Support Programme (AWCCSP), a groundbreaking initiative spanning 2023 to 2026. The program targets critical challenges faced by women in Africa due to traditional cooking methods, addressing gender disparities, environmental concerns, health issues, and economic limitations. AWCCSP aims to distribute clean cooking technologies, empower women entrepreneurs, foster regional cooperation, and advocate for policy changes, contributing significantly to gender equality and a sustainable energy transition in Africa.

During a press briefing on Monday, December 4, Dr Sultan bin Ahmed Al Jaber, the Minister of Industry and Advanced Technology and President of COP28, along with Jim Skea, the Chair of IPCC, provided statements summarising the achievements of the initial four days of COP28.

In a historic announcement during COP28, global leaders have pledged to triple the world’s nuclear capacity by 2050 as a key component of the transition to net-zero.

The 28th Conference of the Parties (COP28) showcases innovative initiatives, reflecting the UAE’s dedication to heightening public awareness of climate change and endorsing sustainable community practices supporting climate action.

World leaders gather at COP28 in Dubai, where President Sheikh Mohamed announces the inception of the $30B Alterra Fund for climate financing. The summit addresses challenges in the clean energy transition and emphasizes global calls for climate action. Leaders discuss loss and damage, climate equity, and green initiatives. UK Prime Minister Rishi Sunak advocates for an “era of action,” and UN Secretary-General Antonio Guterres urges support for the loss and damage fund. Former Pakistani foreign minister Bilawal Bhutto Zardari welcomes progress but highlights challenges for climate-vulnerable nations.

Sheikh Zayed Road in Dubai is set to experience a temporary closure over the weekend as COP28 on climate change commences in the city. The carriageway heading towards Abu Dhabi will be inaccessible between Trade Centre Roundabout and the Expo Intersection from 7 am to 11 am, spanning December 1 to 3.

Emirates Development Bank (EDB) has pledged up to AED 1.3B ($350M) to support the Energy Transition Accelerator Financing (ETAF) platform, a global climate finance initiative initiated by the International Renewable Energy Agency (IRENA). The goal of this platform is to expedite the funding of renewable energy projects, particularly in developing nations.

The comprehensive platform will explore the trading and utilization of carbon credits, providing a “mechanism to help companies manage unavoidable and residual carbon emissions while pursuing direct decarbonisation strategies,” according to DFM. Each carbon credit represents a tangible reduction in carbon emissions, offsetting one tonne of CO2 equivalent emissions. As per the Taskforce on Scaling Voluntary Carbon Markets (TSVCM), the demand for carbon credits could increase significantly, potentially by a factor of 15 or more by 2030 and up to 100 by 2050. The overall carbon credit market is projected to exceed $50B in value by 2030.

Abu Dhabi Finance Week is set to commence on Monday at The Abu Dhabi Global Market, with a focus on “investing in the transition era” as nations intensify investments in reducing emissions and achieving net zero targets in the coming decades. Senior officials, including Abdulla Bin Touq, Minister of Economy, and Mariam Al Mheiri, Minister of Climate Change and Environment, will join executives from the business world in addressing the four-day event.

Dubai’s Roads and Transport Authority (RTA), the Principal Pathway Partner for the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28), has revealed a comprehensive strategy to facilitate the movement of delegations and attendees at the conference.