Business & philanthropy forum to drive global climate progress, ET EnergyWorld

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New Delhi: The United Arab Emirates (UAE) is set to host the Business & Philanthropy Climate Forum (BPCF) during the COP28 Presidency on December 1 and 2, running in parallel with the World Climate Action Summit.

The forum, a first-of-its-kind CEO-level gathering, aims to rally global business leaders and philanthropists behind the COP28 Presidential Action Agenda, with a particular focus on advancing climate action and sustainability goals in the Global South.

The UAE’s commitment to hosting an inclusive climate conference that garners support from all corners of the world underscores the significance of this multi-stakeholder initiative. The BPCF will serve as a catalyst for collaboration between business leaders, philanthropists, and policymakers, with the overarching goal of unlocking solutions and driving more ambitious climate results.

By strategically aligning the forum with the World Climate Action Summit at the Heads of State level, the COP28 Presidency is positioning itself to bridge the gap between climate policy and tangible actions.

The event is expected to attract prominent figures from the spheres of business and philanthropy, who will bring their expertise and resources to the table to formulate concrete climate and nature solutions on a global scale. These solutions dovetail with the COP28 Action Agenda, which emphasizes hastening the transition to clean energy, bolstering climate finance, and prioritizing nature conservation, inclusivity, and livelihoods.

Dr. Sultan Al Jaber, COP28 President-Designate, stated, “To disrupt the status quo and address climate finance, we need collective action. We are dedicated to ensuring full inclusivity at COP28, and that’s why I’m hosting the Business & Philanthropy Climate Forum. Businesses and philanthropists must assume leading roles in achieving net-zero targets and sustainable development.”

Badr Jafar, COP28 Special Representative for Business & Philanthropy and a notable figure in both business and philanthropy, emphasized the essential role of the private sector, saying, “The Business & Philanthropy Climate Forum will provide the enabling platform for action, breaking down silos and connecting stakeholders worldwide. This is what we need to bring scalable solutions to billions of people.”

COP28 marks the culmination of the Global Stocktake, which assesses gaps in the implementation of the Paris Agreement. The COP28 Action Agenda seeks to expedite progress across key areas such as emissions reduction and resilience-building in sectors impacted by climate change.

The forum’s agenda encompasses discussions on technology transfer, de-risking green investments, nature conservation, support for climate-focused startups, and enhancing resilience among vulnerable communities. Over 500 CEOs and philanthropists are anticipated to participate in the flagship session on December 1, focusing on ‘Synergizing Business and Philanthropy: A New Paradigm for Climate & Nature Action.’

As COP28 approaches, expectations run high for the BPCF, which promises to be a pivotal moment in the global effort to combat climate change. It is poised to set the stage for innovative solutions and international cooperation to address the pressing climate crisis.

  • Published On Sep 8, 2023 at 02:01 PM IST

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