World Leaders Gather for COP28 as UAE Commits $30 Billion to Climate Finance

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COP28 is underway in Dubai, with Friday marking the second day of the conference and the beginning of a two-day World Climate Action Summit. This summit brings together heads of state, global leaders, and representatives from civil society, business, youth organizations, and Indigenous groups to tackle urgent climate issues and set the tone for the remainder of the conference.

In a significant opening, UAE President Sheikh Mohammed bin Zayed announced a $30 billion commitment to climate finance, aiming to accelerate global climate solutions. Among the world leaders attending are Saudi Crown Prince Mohammed Bin Salman, German Chancellor Olaf Scholz, and Brazil President Luiz Inacio Lula da Silva. Nigeria’s President Bola Tinubu is also present and is expected to address the summit, while Kenya’s President William Ruto will represent Africa, presenting the continent’s priorities in his role as Chair of the Committee of African Heads of State and Government on Climate Change.

A milestone of COP28, the first-ever Global Stocktake (GST) response will be presented during the summit. The GST assesses global progress toward climate goals, with summit leaders aiming for new commitments and accountability measures to support accelerated climate action.

COP28’s theme days over the coming week are expected to dive deep into specific areas critical to the climate agenda:

December 3 – Health/Relief, Recovery, and Peace Day: This inaugural day will address climate change’s impact on human health and explore relief measures for affected communities to enhance resilience and stability.

December 4 – Finance, Trade, Gender Equality, and Accountability Day: Focused on sustainable climate finance, this day will also highlight gender equality in climate action and the need for fairer global financial systems to support climate-vulnerable nations.

December 5 – Energy, Industry, Fair Transition, and Indigenous Peoples Day: This day will focus on decarbonization strategies for energy and industry, with particular emphasis on the critical role of Indigenous knowledge in protecting biodiversity.

December 6 – Multilevel Action, Urbanization, Built Environment, and Transport Day: Leaders from various sectors will explore urban solutions for climate-friendly infrastructure and transportation.

December 8 – Youth, Children, Education, and Skills Day: Empowering the next generation, this day will include a youth-led pavilion and discussions on involving young people in global climate solutions.

The final days of COP28, December 11-12, will be dedicated to closing negotiations, as leaders work toward a unified agreement to drive actionable climate progress forward.

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