COP28 announces largest global convening of business, philanthropy leaders around climate, nature

Dubai [UAE], September 7 (ANI/WAM): The COP28 Presidency will host the Business and Philanthropy Climate Forum (BPCF) on 1st and 2nd December, held concurrently with the world Leaders World Climate Action Summit.

This CEO-level Forum will mobilise global business leaders and philanthropists to progress action in line with the COP28 Presidential Action Agenda to advance cross-sectoral progress around net zero and nature-positive goals.

This first-of-a-kind multi-stakeholder engagement strategy for climate and nature is driven by the UAE’s ambition to host a truly inclusive climate conference that marshals full and broad support with engagement from all world regions.

The forum will converge business and philanthropy leaders and policymakers to ensure co-creation, collaboration, and acceleration to unlock solutions and drive bolder results.

Hosting the forum in parallel with the Heads of State level World Climate Action Summit, the COP28 Presidency is determined to close the gaps between policy and practice and accelerate climate action through cross-sectoral partnerships and collaboration.

Prominent leaders from business and philanthropy will gather at the forum, bringing their expertise and resources to deliver tangible climate and nature solutions globally.

The forum will address key climate priorities related to the COP28 Action Agenda, which includes fast-tracking a just and orderly energy transition, fixing climate finance, putting nature, lives and livelihoods at the heart of climate action, and underpinning everything with full inclusivity.

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate, said, “To disrupt business as usual and fix climate finance, we need action from everyone. We are committed to underpinning everything at COP28 with full inclusivity and we want to bring together key stakeholders to work on collective solutions. That is why I am hosting the Business & Philanthropy Climate Forum to deliver concrete outcomes from the private and philanthropic sectors that can be presented at the highest levels of COP28. Businesses and philanthropists must play leading roles in meeting net zero pathways and delivering sustainable development, and at COP28, they will have a platform to do so.”

The forum will be chaired by the COP28 Special Representative for Business & Philanthropy, Badr Jafar, a businessman and philanthropy advocate, who also serves on the COP28 Advisory Committee.

Jafar said, “The private sector holds the greatest promise to accelerate the accomplishment of our climate and nature global goals, which is why COP28 will ensure business and philanthropy are embraced as critical partners. The Business & Philanthropy Climate Forum provides this enabling platform for action, breaking down silos between sectors and connecting stakeholders from all world regions around game-changing outcomes underpinned by the COP28 Action Agenda. This is what is needed to deliver scalable solutions that can positively transform the lives of billions of people.”

COP28 will see the conclusion of the Global Stocktake, outlining gaps in implementation under the Paris Agreement. The COP28 Action Agenda is purposefully designed to accelerate implementation across the major workstreams. This includes mitigating emissions by tripling clean energy capacities and sectoral decarbonisation. It also includes support to strengthen resilience and boost adaptation efforts by focusing on key sectors impacted by climate change, including health systems, food and water, nature and ecosystems, cities, and relief and recovery.

Aligned with the COP28 Action Agenda, forum attendees will look at targeted solutions for accelerating technology transfer, de-risking green investments, enabling effective investment for nature conservation, developing ‘greenshots’ for large-scale catalytic action, enabling climate SMEs and startups, and investing in resilience for the most vulnerable, amongst other essential private sector outcomes.

The forum is set to engage over 500 CEOs and philanthropists for a 90-minute flagship session on 1st December in the COP28 Blue Zone. Held under the theme of ‘Synergizing Business and Philanthropy: A New Paradigm for Climate & Nature Action’, this session will focus on how best to mobilise the experience and resources of the private sector to deliver meaningful action and unlock greater flows of private financing for the Global South.

The forum will then move to the Green Zone Conference Centre for afternoon sessions on 1st December, under the theme of ‘Business & Philanthropy as Game Changers: Setting the Stage for Action’. Participants will gather for full-day sessions on 2nd December at the Green Zone Conference Center on ‘Forging Pathways to Green Growth’.

The forum will be held at the beginning of the two-week COP28 programme from 30th November to 12th December. The two-week agenda for COP28 was developed in consultation with stakeholders from around the world in a six-week open consultation – the first approach taken by a COP Presidency.

COP28 Special Representative for Business & Philanthropy, Badr Jafar, is CEO of Crescent Enterprises and is actively involved with diverse organisations and initiatives focused on social entrepreneurship, international development, humanitarian aid, strategic philanthropy and corporate governance.