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COP28 preview: 5 things to watch

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By illuminem briefings

· 2 min read

lluminem summarizes for you the essential news of the day. Read the full piece on Forbes or enjoy below:

🗞️ Driving the news: Wood Mackenzie identifies five critical areas to watch in the upcoming COP28 summit: industry accountability for emissions, finance for the developing world, refining carbon credit markets, integrating oil and gas companies in the transition, and effectively delivering on the Paris Agreement

🔭 The context: COP28's effectiveness has been called under scrutiny as it seeks to address the escalating climate crisis
• The summit comes at a crucial time, with 2023 expected to be the hottest year on record, emphasizing the urgency of global climate action

🌍 Why it matters for the planet: COP28 will be pivotal for assessing and accelerating efforts to combat climate change
• The summit may be instrumental in determining whether the world stays below or exceeds the 2°C threshold set by the Paris Agreement

⏭️ What's next: Key focuses include enforcing stricter emission reduction targets, securing necessary funding for climate action in developing countries, and improving transparency in carbon credit markets

💬 One quote: "None of the 195 signatories is on target. There’s progress, but it’s not fast enough." (Wood Mackenzie contributor)

📈 One stat: Global warming is projected to reach a 2.5°C increase by 2100

Click for more news covering the latest on climate change

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