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Big business mixes with geopolitics at expanded UN climate summit

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on the Financial Times or enjoy below:

🗞️ Driving the news: COP28 in Dubai has attracted a significant presence of major companies and government representatives
• The summit's agenda expansion to include health, food, water, and nature has drawn first-time attendees like ExxonMobil's CEO, along with leaders from diverse sectors

🔭 The context: The diverse range of attendees, including top executives from the banking, energy, and technology sectors, underscores the increasing role of businesses in climate discussions and actions

🌍 Why it matters for the planet: The involvement of these influential sectors and companies at COP28 highlights the critical role of the private sector in financing and implementing the transition to greener economies

⏭️ What's next: Over the remaining days of COP28, business leaders will engage in climate action discussions, with a focus on developing solutions and strategies for a sustainable future

💬 One quote: "Business has an integral role to play in both finding and implementing the solutions to climate change." (Javier Varela, Volvo Deputy Chief Executive)

📈 One stat: The UAE announced a £30bn climate-focused investment vehicle in collaboration with asset managers like Brookfield and BlackRock, signaling significant financial commitments to green energy


Click for more news covering the latest on climate change

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