Monday is finance day at COP28, where additional funding for the climate cause is expected to be announced. This follows discussions among world leaders and the private sector during the early days of the U.N. climate summit, focusing on increasing finance for climate action and disaster support.
With the departure of world leaders from the conference in Dubai, the finance discussions at COP28 are likely to delve into more detailed matters rather than making bold announcements intended for media attention. These conversations aim to improve financial mechanisms without necessarily seeking headline-grabbing moments or photo opportunities.
A significant aspect of the summit’s outcome is how countries will articulate a final agreement on the future of fossil fuels, with clear divisions emerging on this issue. Additionally, Saudi Arabia will host a side event called the Saudi Green Initiative to promote its clean energy plans.
The U.N. climate agency may also release a new draft document showcasing the progress made by countries so far in the global stocktake, which involves developing a new plan to combat global warming.
Furthermore, the COP28 site may witness more small, impromptu protests as activists view this U.N.-led event as a rare opportunity to rally in the United Arab Emirates, where public protests are prohibited.
Source: Reuters