Key outcomes of COP28 UAE :

Increased ambition and action are needed to address climate change. Over 130 countries commit to including agricultural emissions in national climate plans. Methane emissions from 50 oil and gas companies to be near zero by 2030. Renewable energy goals include tripling power generation capacity to 11,000 GW and doubling energy efficiency this decade. Urgency to redirect finance flows towards sustainable, nature-positive investments. $30 billion UAE fund for global climate solutions, $250 billion investment target by the end of the decade, and $700 million pledge to assist lower-income countries with climate loss and damage. Investment and global cooperation are needed to protect vulnerable populations from extreme weather and climate events.

These outcomes represent significant progress in the global fight against climate change. The real test will be in the implementation and follow-through on these promises. The transition will take time. Change does not happen overnight. No country can solve the issues on their own, and it requires global collaboration.

My book ‘In the Fire of Capital, living in Dubai & Doing Business in the Middle East’ includes a chapter on ESG in the Middle East. Check out the publisher’s website www.alphabetselect.blog, with links to Amazon where you can order a copy.