Held at Expo City Dubai from 30 November to 12 December 2023, the 28th United Nations Conference of the Parties (COP28) brought together the UN Framework Convention on Climate Change parties to assess, progress and unite on efforts in tackling climate change.
COP28 was the first to deliver the Global Stocktake – a report card on progress towards the goals of the Paris Agreement – which led to a series of landmark decisions, including the historic activation of the Loss and Damage Fund (Global Climate Fund).
The gathering concluded with the UAE Consensus, a decisive agreement to bridge ambition and implementation gaps, triple renewable energy, double energy efficiency, and halt deforestation by 2030, as well as shift away from fossil fuels to achieve net-zero emissions.
COP28’s Action Agenda gathered 11 pledges and declarations to propel a new era of climate action and saw more than US$85 billion in financial commitments towards sustainable food systems, renewable energy, healthcare, and emission reductions from high-emitting industries.
This included the UAE’s US$30 billion ALTÉRRA initiative to mobilise US$250 billion for global climate action.