(6 December 2023 – UAE) The need to make climate finance more accessible and affordable along with emerging economies emergent carbon market initiatives made headlines at the COP28 climate summit in Dubai.
FS Sustainability reports the UAE Declaration of Leaders on a Global Climate Finance Framework was endorsed by 12 countries, including the UK and the US, to showcase a new financial architecture to make financing available, accessible, and affordable noting Australia was not a signatory.
Ministers and Indigenous Peoples from Brazil and the Democratic Republic of Congo pledged their support to host pilot carbon projects generating REDD+ credits under a new standard, established by three voluntary forest carbon stakeholders.
Parties have united in solidarity, and inspired action, mobilizing over US$83 billion in funding commitments and building the momentum required to keep 1.5 degrees within reach.
US special climate envoy John Kerry launched an international engagement plan to boost nuclear fusion, stating that the emissions-free technology could become a vital tool in the fight against climate change. The cutting edge technology could have an important advantage over today's nuclear fission plants by producing huge amounts of unlimited power without long-lasting radioactive waste.
“The plan involves 35 nations and focuses on research and development, supply chain issues, regulation and safety. There is potential in fusion to revolutionise our world” Kerry declared.