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illuminem summarizes for you the essential news of the day. Read the full piece on Forbes or enjoy below:
🗞️ Driving the news: COP28, the United Nations Climate Change Conference, begins amid controversies
• A central issue amidst these concerns is the underrepresentation of non G-20 countries, particularly those most impacted by climate change, in negotiations with developed nations
🔭 The context: Hosted by the United Arab Emirates, an oil-producing nation, the conference has been scrutinized for potential greenwashing and its carbon footprint
• The presidency of the conference by the head of the state oil firm has raised concerns over inappropriate access to COP28 planning
🌍 Why it matters for the planet: There is a growing call for a fair and representative approach to climate negotiations and fund management, emphasizing the inclusion of voices from the most impacted regions
• The most impacted regions are often those that have contributed the least to the climate crisis
⏭️ What's next: Key points of focus include how the loss and damage fund will be managed and the role of the Global Stocktake (GST) in these discussions
• Major concerns to be addressed are the management of the fund by the World Bank, the voluntary nature of contributions to the fund, and the potential dilution of commitments
💬 One quote: "The first GST will have a central role because of its cross-cutting nature. We must ensure there is consensus on the way forward." (Sultan Ahmed Al-Jaber, president-designate of COP28)
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