Three significant developments at COP28

Hey Guys! We are in COP28 in Dubai this week and here are 3 significant events that have happened so far.

The first major highlight is the establishment of a $30 billion fund for global climate solutions, announced by UAE President Mohammed bin Zayed Al Nahyan. This fund aims to attract $250 billion of investment by the end of the decade. Additionally, parties to COP28 pledged $700 million to assist lower-income countries in coping with the impacts of climate change. Furthermore, a loss and damage fund was set up to support climate-vulnerable developing countries, with countries pledging hundreds of millions of dollars to it.

The second biggest update is over 130 countries signed a declaration to integrate emissions from agriculture and farming into their national climate change strategies. Alongside this, a coalition of over 25 leading food and agriculture organizations committed to scaling regenerative agriculture. This effort involves partnering with 3.6 million farmers to transition over 160 million hectares of land, aiming to protect soil and limit carbon emissions.

The third biggest update is Fifty oil and gas companies pledged to achieve near zero-methane emissions by 2030 and committed to setting a plan to meet these targets by 2025. A fund was also announced to support methane abatement projects in emerging markets and developing economies. These companies additionally agreed to aim for net zero greenhouse gas emissions from their operations by 2050.

Stay Tuned to the carbon exposure project as we release episodes of interviews with leaders of the carbon market at COP