{"id":81059,"date":"2023-12-06T00:00:00","date_gmt":"2023-12-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/12\/06\/today-green-finance-dominates-day-6-of-cop28\/"},"modified":"2023-12-06T00:00:00","modified_gmt":"2023-12-06T00:00:00","slug":"today-green-finance-dominates-day-6-of-cop28","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/12\/06\/today-green-finance-dominates-day-6-of-cop28\/","title":{"rendered":"TODAY: Green finance dominates Day 6 of COP28"},"content":{"rendered":"

Good morning, nice people. <\/strong>The COP28 train keeps tearing through the week and the theme of today\u2019s issue is solidly climate finance, we have a whole truckload of updates to share. Need a breather? No worries, tomorrow is officially COP\u2019s \u201cDay of Rest\u201d \u2014 and we appreciate it.<\/p>\n

ICYMI- HERE\u2019S THE COP28 GUIDE: <\/strong>Click here to check<\/a>out handy<\/a>guide (pdf)<\/a> for the main thematic days and what to expect. Head to the official events schedule<\/a> for a full rundown of all the panels, workshops, discussions, debates, and keynote speeches. <\/p>\n

DAYS TO LOOK FORWARD TO-<\/strong><\/p>\n

10 December:<\/strong> Food, Agriculture, and Water<\/p>\n

10-11 December:<\/strong> Final Negotiations<\/p>\n

HAPPENING TODAY-<\/strong>Urbanization, Built Environment, and Transport. <\/strong>Discussions will center around solutions addressing the transition to low carbon built environments and infrastructure, sustainable and circular waste systems, and sustainable mobility and freight. <\/p>\n

<\/a>THE BIG CLIMATE STORY EVERYWHERE- <\/strong>Record <\/strong>number of fossil fuel lobbyists attend <\/strong>COP28: <\/strong>Around 2.5k fossil fuel lobbyists \u2014 the highest in COP\u2019s history \u2014 have been granted access to COP28, according to a report<\/a> from climate change coalition Kick Big Polluters Out. The number of fossil fuel-champions at the summit have quadrupled since COP27, with climate activists saying that their attendance is \u201cbeyond justification,\u201d calling into question the integrity of the climate talks. The number of fossil fuel representatives outnumbers every other attending delegation, except for COP30 hosts Brazil (3.08k) and the UAE (4.4k). \u201cYou don\u2019t bring arsonists to a firefighting convention \u2014 or the climate talks, for that matter \u2014 but that\u2019s precisely what is happening,\u201d the Climate Action Network said. <\/p>\n

The story made headlines in the international press:<\/strong>The Guardian<\/a> | CNN<\/a> | BBC<\/a> | CNBC<\/a> | The New York Times<\/a> | The Washington Post<\/a> | France 24<\/a> | Euronews<\/a> <\/p>\n

\n

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<\/a>A BRIEF LOOK AT COPLAND- Will the COP28 stocktake deliver a fossil fuel phaseout? <\/strong>The second draft (pdf)<\/a> of the COP28 Global Stocktake is expected to yield a final verdict on fossil fuels as negotiators mull over whether or not to proceed to an \u201corderly and just phaseout of fossil fuels,\u201d Reuters<\/a> reports. If adopted, the COP28 stocktake would mark the first global agreement on bringing an end to oil reliance. The Global Stocktake<\/a> \u2014 set to be the first to assess the progress made on the Paris Agreement targets since 2015 \u2014 could see one of three scenarios unfold. With the first calling for a conclusive phaseout, the second is to accelerate \u201cefforts towards phasing out unabated fossil fuels,\u201d while the third would not deliver a verdict on fossil fuels at all. <\/p>\n

What about coal? <\/strong>The stocktake draft included two options for phasing out coal production. The first would call for an \u201cimmediate cessation of the permitting of new unabated coal power generation,\u201d while the second would not address abating coal, S&P Global<\/a> reports. <\/p>\n

<\/a>BIG OIL ISN\u2019T HAPPY- OPEC chief claims \u201cenergy chaos\u201d is coming: <\/strong>Phasing down oil as an energy source would not lead to an energy transition but an \u201cenergy chaos,\u201d Asharq Al-Awsat<\/a> reports, citing comments made by OPEC Secretary General Haitham al-Ghais at COP28. Relying on one energy source in the future, alternative or traditional, would be unfeasible, al-Ghais added, arguing that climate challenges should be dealt with through international cooperation, making technology accessible, and green investments. <\/p>\n

KERRY ADMONISHES US OIL COMPANIES- <\/strong>US climate envoy John Kerry criticized American oil and gas producers \u2014 with an emphasis on Chevron \u2014 for their insufficient commitment to climate action, Bloomberg<\/a> reports. \u201cWe have no real evidence that they, and a lot of others, are doing what every company needs to do,\u201d Kerry said yesterday at the Bloomberg Green Summit hosted at COP. <\/p>\n

<\/a>IN OTHER NEWS-<\/strong>US joins pact aimed at slashing cooling emissions: <\/strong>Along with 63 other nations, the US has joined a pact calling on reducing emissions from air-cooling by 2050 globally, Reuters<\/a> reports. The pact aims to cut energy emissions from the industrial cooling sector by 68% \u2014 compared to 2022 levels<\/a> \u2014 through deploying more efficient cooling technologies that curb hydrofluorocarbons<\/a> (HFCs). The signatories are expected to issue their cooling action plans by 2026, Reuters<\/a> reports.<\/p>\n

Emissions from cooling should not be underestimated: <\/strong>Global demand for cooling is expected to triple by 2050 on the back of soaring temperatures brought about by climate change. If tripled, cooling would produce emissions between 4.4 bn and 6.1 bn metric tons, according to the latest report<\/a> by the UNEP. <\/p>\n

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CIRCLE YOUR CALENDAR-<\/strong><\/p>\n

Saudi Arabia will host the<\/strong>Future Minerals Forum<\/a><\/strong> from Tuesday, 9 January through to <\/strong>Thursday, 11 January<\/strong> in Riyadh. The event will bring nations and private sectors together to enable the creation of resilient mineral value chains in the resource rich regions of Africa, Western Asia, and Central Asia. The forum will hold a ministerial roundtable with over 60 countries being represented., and delegates will discuss global critical mineral strategies as well as an international exhibition with over 150 exhibitors and industry sponsors. <\/p>\n

Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, nice people. The COP28 train keeps tearing through the week and the theme of today\u2019s issue is solidly climate finance, we have a whole truckload of updates to share. Need a breather? No worries, tomorrow is officially COP\u2019s \u201cDay of Rest\u201d \u2014 and we appreciate it. ICYMI- HERE\u2019S THE COP28 GUIDE: Click here […]<\/p>\n","protected":false},"author":1,"featured_media":81060,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[44],"tags":[318,475,11,558,52,43],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-81059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-carbon-emissions","tag-cop28","tag-enterpriseclimate","tag-opec","tag-uae","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"d1d25c12-9d45-475e-92de-41bf139e7207","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2022\/12\/5556.jpg","photo_position":"below","homepage_title":"","full_issue_title":"TODAY: Green finance dominates Day 6 of COP28","related_issue":[81057],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.6d2d2c27-6665-48f4-82ab-33edb2debc7f.mp3"},"yoast_head":"\nTODAY: Green finance dominates Day 6 of COP28 - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/06\/today-green-finance-dominates-day-6-of-cop28\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TODAY: Green finance dominates Day 6 of COP28\" \/>\n<meta property=\"og:description\" content=\"Good morning, nice people. 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