Several business leaders, along with policymakers, gathered in London last week to forge partnerships aimed at advancing progress towards climate and nature goals, ahead of the COP28 UAE climate conference to be held in November in Dubai.
Prominent leaders such as UK Prime Minister Rishi Sunak and Alexander Downer, former Foreign Minister of Australia, were invited to address the event – the London Climate Action Week One – which was convened to discuss urgent action plans for achieving climate goals.
UAE’s commitment to COP28 journey
Addressing the gathering, Badr Jafar, CEO of Crescent Enterprises, a UAE-based diversified business group, headquartered in the UAE, said much like the UK, the UAE is making major strides in its journey to a net-zero, nature-positive future.
“COP28 signifies our continued commitment to this journey. However, we also recognise that it is not a journey that can be made in isolation, and our collective path to net zero must also be a resilient path filled with opportunity for the six and a half billion children, women and men who live in developing countries,” he said.
Jafar also highlighted the unique role that COP28 can play in advancing a more inclusive agenda for climate action.
“COP28 has an unparalleled opportunity to create a paradigm shift in thinking and doing towards achieving our urgent climate and nature goals – these global challenges require locally-relevant solutions, and COP28 provides a truly inclusive platform upon which diverse people from all regions of the world can come together with our private, public and civil society sectors to co-create pathways to success,” he said.
Delegates at the London Climate Action Week, hosted by Policy Exchange, an educational charity to develop and promote new policy ideas, also discussed the urgent need to develop investment and financing mechanisms for climate action that are accessible, affordable and equitable in their construct.
The event saw participation of about 700 senior representatives from business, government and civil society.
According to a recent report by the United Nations Conference on Trade and Development (UNCTAD), the carbon footprint of an average person in a developed country was more than 23 times larger than that of an average person in a least developing country.
The UN body report also pointed out that developing countries are withstanding the worst of climate shifts through more severe heat waves, floods and droughts.
According to a report launched at the COP27 summit in Egypt, developing countries will need $2 trillion each year by 2030 in order to reduce emissions and protect their economies against climate change.
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