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Dubai. Photo by Joshua Fuller on Unsplash

COP28

Why COP28 and Dubai are actually a good fit

Manjula Lee – founder and CEO, World Wide Generation, and the G17Eco platform, gets our #COPHalfFull coverage underway, picking up on a journey we began in Egypt last year, where we ask decision makers and innovators at the COP to tell us about the green shoots of hope in their area and how people can support it.

Manjula kicks us off by giving a counter argument to the negativity and controversy surrounding the location chosen for this year’s COP.

“The fact that COP is here in the biggest oil region in the world is a #CopHalfFull because this is where the resources are, this is where the wealth is, this is where the biggest transition has to happen. The rhetoric has been the opposite: why is the biggest oil region hosting the COP? My answer to that is here is where it needs to start. And what I have seen in the leadership is the willingness to move, the willingness to partner; so that’s my COP Half Full, it has to happen here.”

Watch the video for more from Manjula on what a world that works for everyone looks like and discover how her organisations are helping to unlock trillions of dollars to accelerate the UN Sustainable Development Goals.

COP28 UPDATE – through 6 December

  • COP28 has mobilized over $83 billion in the first five days
  • These include the first ever declarations on food systems transformation and health, plus declarations on renewable energy and efficiency, as well as initiatives to decarbonize heavy emitting industries.
  • 11 pledges and declarations have been launched and received historic support.
  • On day one of COP28, the Presidency facilitated a historic agreement to operationalize and capitalize funding for Loss and Damage, supporting those on the front lines of the climate crisis with $726 million already pledged to date.
    • $3.5 billion in new money announced to replenish the Green Climate Fund (GCF)
    • $133.6 million announced toward the Adaptation Fund
    • $129.3 million announced toward the Least Developed Countries Fund (LDC)
    • $31 million to the Special Climate Change Fund (SCCF)
  • UAE launched a $30 billion catalytic fund, ALTÉRRA, to drive positive climate action. The fund seeks to mobilize an additional $250 billion globally.
  • The UAE committed $200 million to help vulnerable countries through Special Drawing Rights (SDRs) and $150 million to fund water security solutions.
  • The World Bank announced an increase of $9 billion annually for 2024 and 2025 to finance climate-related projects. Multilateral Development Banks (MDBs) announced a cumulative increase of over $22.6 billion toward climate action.

Follow all our COP28 coverage, produced in partnership with Allied4Future, on these pages, across our social media channels; and remember to sign up to the Innovators Magazine newsletter to get it sent straight to your inbox. 

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Written By

Marc is Editor-at-Large for Innovators Magazine and host of INSIDE IDEAS, his OnePoint5Media video podcast show. Marc is a member of the World Economic Forum Expert Network, Resilient Futurist, and award-winning Global Food Reformist.

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