Abu Dhabi, Nov. 8, WAM – The UAE will continue its leadership in climate diplomacy, transitioning the COP presidency to Azerbaijan next week. Building on COP28, where the UAE launched a pioneering “Action Agenda” with bold targets across climate sectors, this agenda led to the historic UAE Consensus and mobilized over $85 billion in climate financing. Key initiatives included ALTÉRRA, a $30 billion climate investment fund, and breakthrough commitments across energy, finance, and inclusivity.
COP28’s agenda emphasized a just energy transition, improved climate financing, and resilient livelihoods. It united world leaders, civil society, and private sectors, and the COP28 Business and Philanthropy Forum committed $7 billion toward biodiversity and climate goals.
Energy Transformation
COP28 outlined an energy roadmap to triple renewable capacity and double efficiency by 2030. The Global Decarbonization Accelerator, which includes the Oil and Gas Decarbonization Charter with 55 companies, pledges net-zero methane emissions by 2030.
Nature, Livelihoods, and Finance
The UAE continues its commitment to underrepresented sectors, advancing sustainable agriculture with a $200 million Gates Foundation partnership. The UAE also mobilized support for nature finance, committing $100 million to conservation, with first projects in Ghana and Indonesia.
Strengthening Multilateral Climate Action
COP28 exemplified multilateral progress, reinforcing inclusive and actionable climate goals amidst complex geopolitics, setting the stage for ambitious global collaboration in this pivotal decade.
