Towards NeT Zero by 2050 UAE supports global transition to green projects with COP28 presidency

Delivering ambitious negotiated outcomes at the global event and providing a practical action agenda to help drive UAE in its goal to achieve net zero by 2050

By Sankar Sri Pillai

As the world’s largest annual climate gathering since the signing of the Paris Agreement in 2015, the 2023 United Nations Climate Change Conference (UNFCCC), or Conference of the Parties of the UNFCCC, more commonly referred to as COP28, is expected to be a game changer. To be held in the UAE and hosted at Expo City Dubai between November 30 and December 12, COP28 is expected to see more than 70,000 global stakeholders participate in the momentous event as the UAE leads the charge in prioritising real-world progress while fronting dialogue on climate technology innovation and the nation’s commitment to fund and support green and transition projects, all critical in ensuring a sustainable world for future generations.

addressing cliMate crisis

Hosting the global event also helps complement the UAE’s Net Zero by 2050 strategic initiative, a national drive to achieve net-zero emissions by 2050, making the it the first nation in the Middle East and North Africa to do so.

With the UAE using the COP28

COP28: 80 DAYS TO GO

platform as a rallying cry to call upon the world to make transformational and practical progress in addressing the climate crisis, the event will feature the first Global Stocktake to measure progress against the goals and ambitious set out in the Paris Agreement at COP21. However, it is a well-known truth that much of the targets for climate action set during the Paris Agreement are yet to be met. To address this crisis and deliver a major course correction, the COP28 Presidency is determined to deliver ambitious negotiated outcomes and a practical action agenda. The objectives of this collective action are to turn pledges and promises into progress while addressing the climate crisis at hand.

Technology enables renewed net zero climate action

Successful green transitional journeys hinges on multi-stakeholder collaboration as optimism abounds ahead of GITEX Impact in Dubai four pillars

In keeping with these objectives, the COP28 Presidency has put together four key pillars to deliver the necessary course correction. These include the following:

• Fast tracking a just, orderly, and equitable energy transition

• Fixing climate finance

• Focusing on people, lives and livelihoods

• Underpinning everything with full inclusivity.

As part of its overall strategy to ensure a sustainable future, COP28 in the UAE will convene global stakeholders to provide practical solutions across these pillars, intending to unite the world and keep 1.5C within reach. towards net zero

The strong commitment to fund allocation towards supporting green and transition projects, as well as supporting the drive for innovation in climate technology by the UAE and global stakeholders are integral to making COP28 a success. The steps also push the narrative for the UAE’s Year of Sustainability in 2023, and, most critically, moving the needle towards net zero.

The UAE’s COP28 will mark the world’s first global stocktake, evaluating the collective progress made in achieving the goals of the Paris Agreement on Climate Change in 2015, while the successful navigation of green transitional journeys by governments and corporations hinges on multi-stakeholder collaborative effort.

With many of the Paris Agreement’s 196 parties lagging on tangible results, tech will be the great enabler of renewed solutions to achieve decarbonisation goals.

Nadia Boumeziout, Head of Sustainability & Information Governance, Zurich Insurance, Middle East, underscores the significance of 2023 as a defining year for countries to lay open where they stand on the UN’s Global Roadmap to address climate change.

“This year is significant, as nations will have to demonstrate whether they are on track with their targets, and we will see that most are not,” says Boumeziout, a headline speaker at the inaugural GITEX Impact, the largest event in the MENA for sustainability tech, ESG services and strategies, taking place from October 16-20, 2023 at the Dubai World Trade Centre (DWTC). “This will raise new questions and also push for more solutions and actions.”

With 2023 declared as the Year of Sustainability in the UAE, Boumeziout says tech’s role in a sustainable future is crucial. “I’m a firm believer that technology will be the great enabler for sustainable development and transition. We will need technology in many areas, whether in climate-tech or agri-tech, but also for transparent tracking and measuring within supply chains and beyond.”

Measure, disclose, coMMunicate

Meanwhile, the private sector can still embark on their successful decarbonising journeys, but with some caveats. “Measurement, reporting and communication is critical,” says Boumeziout. “Regularly publishing sustainability and ESG reports also becomes imperative, allowing companies to showcase their improvements over time.” epicentre of seisMic cliMate tech shifts GITEX Impact 2023 promises to be the epicentre of seismic shifts in climate technology, providing a unified platform focused on sustainability and innovation, as the power of digitalisation accelerates the inexorable path towards decarbonisation.

Headline exhibitors and partners spearheading the charge toward a net zero future include global logistics powerhouse DHL, which created the Era of Sustainable Logistics, a global platform to collaborate and shape the future towards green supply chains; ArcelorMittal Xcarb Innovation Fund, among the world’s largest steel producers committed to investing over $200m into tech start-ups to deliver decarbonised steel; and Lufthansa Group, the EU’s flagship airline driving global partnerships to deliver decarbonised air travel.

Organised by DWTC, GITEX Impact is strategically aligned with COP28, delivering transformative pledges accelerated via synergies leveraged at the heart of the world’s largest tech and start-up event, GITEX GLOBAL and Expand North Star, welcoming more than 7,000 exhibitors, 1,800 speakers, and 170,000-plus attendees from 176 countries.

The region’s tech catalyst for decarbonisation through digitalisation will also see the launch of the world’s first CSO Business Club featuring 300-plus global sustainable champions; the Leaders of Impact Summit; and the Global Sustainable Investment Forum. The debut five-day event runs alongside Future Urbanism Expo, the MENA’s premier event for sustainable urban development. Register now at www.giteximpact.com