Leaders Unite on Climate at COP28 Forum
The second day of the inaugural COP28 Business & Philanthropy Forum included announcements on nature, energy and health.
ABU DHABI, United Arab Emirates- Key business and philanthropy leaders joined with multilateral development banks and political leaders from emerging economies at COP28 today, to announce initiatives aimed at harnessing resources for climate action, writes Winston Mwale.
The second day of the inaugural COP28 Business & Philanthropy Forum included announcements on nature, energy and health.
IMF Managing Director Kristalina Georgieva gave insights into catalysing a just transition to a greener economy.
There were sessions on philanthropy with Bill Gates, Ray Dalio, Dr. Precious Motsepe and H.E. Abdul Aziz Al Ghurair.
A discussion on transition funding involved leaders from the EBRD, Temasek Holdings and Bezos Earth Fund.
With IKEA CEO Jesper Brodin, the Forum hosted an energy discussion on advancing the just transition while providing energy access.
"Governments simply do not have the available capital or capacity to make the climate transition on their own," said COP28 Special Representative Badr Jafar.
Initiatives announced included:
The $250 million Enteric Fermentation R&D Accelerator to cut livestock methane.
The $100 million Data for Methane Action Campaign to convert data into action.
Join the Planet, a movement to repurpose materials supported by Lionel Messi.
The First Movers Coalition session where Volvo Group and Norsk Hydro partnered on near zero-aluminum.
The Health for Climate initiative to cut emissions in health supply chains.
The Nature Positive for Climate Action call to action from 150 institutions.
The Indigenous Peoples Initiative direct financing call to action.
The ONE AMAZON trillion-dollar nature-based asset platform.
$450 million in new funding on super pollutants from the Sequoia Climate Foundation.