Dubai concluded with an agreement signaling the beginning of the end for fossil fuels. While this rightfully captured global attention, not everyone may have noticed a significant breakthrough in the global stage of COP negotiations: for the first time in the 28 years these summits have taken place, local climate efforts in municipalities and cities were included in the talks.
COP28 has been named the most crucial climate summit since the Paris Agreement was signed. The summit marked the culmination of the first "global stocktake" under the Paris Agreement, which every five years is intended to provide a global status update on achieving the goals of the Paris Agreement and set the course for bringing the world closer to these goals. But where do we stand now after COP28?
In September, the International Energy Agency (IEA), published the report “Net Zero Emissions by 2050”. Once again, the report highlights that energy efficiency measures are vital tools to ensuring a transition towards net zero emissions. Regrettably, the report also highlights that the pace of energy efficiency deployment is insufficient, necessitating increased efforts from developed countries like Denmark.
New EU requirements for sustainability in value chains serve as an essential tool for securing financial streams towards the green transition in the Global South. At the same time, it can help build trust between Africa and Europe. However, this can only happen if the new regulations, as the ones we are now seeing from the EU, are followed by targeted efforts to help countries meet value chain requirements.
Blog
By Jarl Krausing, Deputy CEO and International Director, CONCITO and Sofia Said Birch, ESG manager, AP Pension
The up-coming Danish EU Presidency in 2025 and a possible Danish UN Security Council membership in 2025-2026, provides the Danish Government with a rare unique opportunity to assume international leadership and become a frontrunner for developing visions and investing in broad-based human security.
The Summit for a New Global Financing Pact delivered added momentum and a roadmap for several important processes. This blog looks at the Summit from an investment mobilization perspective and explains how efforts to catalyze investment and finance for climate and development were discussed at two events co-organized by CONCITO and the OECD.
A strengthened institutional framework, which can support verifying the effect of the different climate change measures, document a hopefully decreasing emission of greenhouse gases, and advise on and monitor the implementation of the political agreements, should be established.
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By Tavs Nyord, CONCITO and Jørgen E. Olesen, Aarhus University
