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COP28: Forging Commitments at the 2023 Climate Summit

In 2023, the United Nations (UN) presents its 28th edition of the Conference of the Parties – better known as COP – on climate change, which will be held between November 30 and December 12 in the United Arab Emirates.

The Conference of the Parties 28, known as COP28, raises great expectations. This year, the setting is Dubai, with the motto "Unite. Act. Comply", a call to decarbonize, to promote green energies and to seek greater cooperation and financing for a more sustainable future.

"We need corporate leaders in the fossil fuel industry, in the financial sector and elsewhere who can challenge shareholders on destructive short-term profits, in favor of a long-term vision of investment returns for the planet. (...) Can. We will do it. "That is the attitude we must adopt at COP 28."

These are the words of Simon Stiell, executive secretary of UN Climate Change, which resonate as a call to action.

The Importance of COP28: A Milestone in the Global Climate Agenda< /p>

Between November 30 and December 12, 2023, the Expo City Dubai conference center will host more than 70,000 people at COP28. This conference, with its inspiring motto "Unite. Act. Comply", aspires to be a milestone in the evolution of the global climate agenda.

The Conferences of the Parties have been the epicenter of climate dialogue for almost three decades, bringing together representatives from nearly two hundred countries and diverse groups. The Paris Agreement, a result of COP21, was a significant achievement by committing to limit the global temperature rise to 1.5°C. However, the last COP27 revealed the need for more substantial progress, from concrete emissions reductions to an immediate increase in financing for adaptation and a decisive commitment to renewable energies.

"Before Paris, we were focused on achieving the agreement. After Paris, we focused on agreeing the rules," says Simon Stiell, marking the evolution of the approach at these summits.

Perspectives for the 2023 Climate Summit

Within the days covered by COP28, the presidency has established four essential pillars, as set out in its letter to stakeholders:

Accelerate the Energy Transition and Reduce Emissions by 2030:

  • Triple the renewable capacity and reduce methane and fossil fuel emissions.

  • Double energy efficiency and increase electrification.

Financing Climate Action:

  • Intervene in the multilateral financial structure to address the needs of developing countries.

  • Keep promises and lay the foundations for a new global agreement.

Placing Nature and People at the Center of Climate Action:

  • Activate the Loss and Damage Fund approved last year.

  • Adopt the framework for the Global Adaptation Goal.

  • Hold the first ministerial meeting on climate and health.

A more inclusive COP:

  • High participation of young people, equal delegations and presence of indigenous communities.

The balance sheet of the Paris Agreement, presented by the United Nations Framework Convention on Climate Change (UNFCCC), will be an essential part of the debate at COP28. This synthesis report will assess the global response to the climate crisis and outline a path forward.

COP28 Thematic Program

The UN Global Compact in Action: Commitment to a Sustainable Future

The UN Global Compact Spain seeks for this summit to serve as a networking catalyst between companies committed to climate action. The President, Clara Arpa, will participate in high-level events, such as the one organized by Caring For Climate, the international platform of the UN Global Compact.

On December 5, in the blue zone of the UN Global Compact pavilion, the "SBTi's Leading Companies" event will take place, focused on climate objectives for the private sector. Additionally, the "Corporate Leadership in Climate Action" will bring together business leaders to discuss corporate climate ambitions.

On December 7, a networking session has been scheduled between Spanish companies in collaboration with the CEOE, consolidating the importance of business collaboration in the fight against climate change.

Thus, COP28 is not just an event; It is a collective commitment to transform intentions into tangible actions, forging a more sustainable and livable future for generations to come.

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