Browsing: Climate finance COP28

The Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC) represents an important international forum for countries to discuss and address global climate change issues. However, these conferences have tended to be high-level and process-based, and COP 27 was no exception. – negotiations took place, and some of the highlights included the historic establishment of the loss and damage fund, which was seen as setting a precedent for climate justice.

However, agreements on other matters, such as phasing out fossil fuels and setting emission peak periods, were not achieved. For African countries, COP 28 marks an important pivot point around funding, just transition, and the Nairobi Declaration. There will be a push for realisations on commitments made and innovative funding mechanisms to drive accelerated climate action now and beyond.…

• COP28, which will attract over 70,000 attendees will center on Africa’s specific problems and demands.
• Africa will be focusing on four main issues: getting developing nations to agree to climate finance, fixing the loss and damage fund, getting fossil fuels out of the system, and making sure everyone has a fair chance to transition to low-carbon future.
• At COP28, world leaders will talk about how to finance climate action by attracting private investment from emerging and developing economies.

From November 30–December 12, 2023, in Dubai, UAE, will be held the forthcoming COP28 meeting, which will mark the beginning of a new age in climate financing. The climate finance conference, which is projected to attract over 70,000 attendees—including heads of state, government officials, and other stakeholders—will center on Africa’s specific problems and demands.

The Priorities of Africa at COP28 on Climate Financing

At COP28, Africa will be focusing on four main …