As we stand at the forefront of environmental stewardship, COP28 serves as a pivotal platform for dialogue, collaboration, and decisive action.
This year, COP28 will see the first Global Stocktake, enabling countries and other stakeholders to examine our collective progress toward meeting the goals and ambitions of the Paris Agreement. It will also focus on climate finance and the impact of global trade, the energy transition, and the loss and damage fund.
Our ESG lawyers will be providing daily updates from the conference.
12 December 2023
As COP28 comes to an end, H.H. Sheikh Mohamed bin Zayed Al Nahyan, said “as COP28 concludes in the UAE, I thank all the participating delegations that worked together to achieve the historic UAE consensus to accelerate climate action. I also commend the local and international teams that contributed to the successful organization of the event.”
The COP28 summit concluded in Dubai, United Arab Emirates, extending into Wednesday morning instead of the initially planned Tuesday finish. Wednesday, 13 December, marked the end of nearly two weeks of continuous discussions addressing significant environmental issues. Notably, this year’s conference is the first time where there was a Global Stocktake, which is a review of each nations’ progress to reducing GHG emissions and meeting the goals of the Paris Agreement.
11 December 2023
Day 12 of COP28 marked the initiation of the final negotiation phase, following two weeks of intense deliberations. Delegates experienced an extended period of uncertainty as they awaited developments, with a significant portion of discussions conducted behind closed doors.
In a concise plea during COP28's critical phase, UN Climate Change Executive Secretary, Simon Stiell, urged swift action for a new era benefitting both people and the planet. He said “the highest climate ambition means more jobs, stronger economies, stronger economic growth, less pollution, better health.”
10 December 2023
Food, Agriculture and Water Day at COP28 saw the first-ever COP ministerial dialogue on building water-resilient food systems; the COP28 UAE Declaration on Agriculture, Food Systems and Climate Action; a focus on addressing global food and promoting water security to keep 1.5°C within reach; and billions in pledged funding for food climate solutions.
“Sustainable agriculture and food systems are critical components in both dealing with climate change and building food systems fit for the future.”
- Majid Al Suwaidi, COP28 Director-General
9 December 2023
Nature Day was set to be closely watched, following the success of COP27 where 188 governments signed the Kunming Montreal Global Biodiversity Pledge (GBF). The GBF’s headline mission is to conserve 30% of land and oceans by 2030. COP28 Nature Day aimed to build on this progress and to decrease the financing gap for nature-based solutions.
During Nature Day, $186 million was pledged towards forests, mangroves and the ocean. This funding built on the $2.5 billion mobilised to protect and restore nature during COP28's World Climate Action Summit on 2 December 2023.
8 December 2023
With the debate on phasing out fossil fuels still ongoing, Day 9 of COP28 focused on the social element of ESG. Youth, children, education and skills were for the first time put at the center of discussions on climate change goals. Day 9 called for an inclusive transition towards net zero and aimed to amplify the voices of youth, the rights of children and other stakeholders. Youth-led sessions were held to facilitate meaningful conversations between youth representatives and policymakers.
6 December 2023
The day recognized the value of multilevel actions in progressing the net zero agenda, whilst also highlighting the imperative need to continue finding solutions to emissions caused by our built environments, with 75% of global greenhouse emissions still coming from cities.
In a summary speech on Day 7, the President of COP28, Sultan Al Jaber, praised the nations involved for uniting in solidarity and demonstrating that multilevel action is not only feasible but also “alive and well”.
5 December 2023
Recognition of hydrogen schemes, clean cooking and the cooling pledge were among some of the key takeaways from Day 6 of COP28. A just transition remains at the centre of these conversations.
4 December 2023
In just four days, governments, businesses, investors and philanthropies have announced over $57 billion across the climate agenda. On Monday 4th December 2023, the momentum continued as various pledges and commitments were made for Finance, Trade, Gender Equality and Accountability.
The day marked significant progress to reform the global climate finance architecture by making climate finance available, accessible, and affordable, specifically focusing on supporting low-income and vulnerable countries fight climate change.
3 December 2023
The highly anticipated Health, Relief, Recovery and Peace Day took place for the first time in COP’s history, with over 100 countries in attendance. The trailblazing Climate-Health Ministerial was also the first to ever be held at a COP which took place in the inauguration of the Faith Pavilion. The day placed people at the heart of the climate conversation, which involved discussions of positive and constructive visions for climate, health, lives and livelihood.
1-2 December 2023
The World Climate Action Summit took place over Friday 1 December and Saturday 2 December 2023 with more than 170 world leaders present. Heads of state each gave short speeches to deliver their views on the planet's climate crisis, what their nation is doing and what they think others should do.
King Charles III said in his speech that “Earth doesn’t belong to us, we belong to the earth.”
30 November 2023
The countdown is over - COP28 has officially arrived in Dubai. In his opening remarks, Dr Sultan Ahmed al-Jaber, the President of the COP28, asked countries to “work together and find common ground, and never to lose sight of our 1.5˚c North Star”, and to “bridge the finance gap”, “maximise momentum on mitigation” and the need for climate finance to meet the “magnitude of the moment” so that the Global South does not need to choose between development and climate action.
As COP28 approaches, our ESG global co-heads Diane Gilhooley and Herbert Short share insights on anticipated themes.
With COP28 on the horizon, Matthew Allen discusses two topics to look forward to at COP28; Climate Finance and Data.
COP28 is almost here! In this video, Xenia Garofalo explains anticipation around the discussions on a global carbon tax regime.
What will COP28 hold for institutional investors? As the conferences approaches, Simon Daniel outlines 3 key hopes for outcomes from discussions.
COP28 is not just a vital part of the Energy Transition towards a greener future, but helps us to hold accountability of our global green commitments. Sindhura Swaminathan outlines the three things she hopes to see from COP28 this year.
Publikationen
- podcasts and webcastsCOP28 video updates
- legal updatesCOP28: Final negotiations continued
- legal updatesCOP28: Final negotiations
- legal updates