Dubai in the UAE has been hosting the COP28 Summit since November 30. The event is set to conclude on Tuesday, amid a number of key agreements already signed, landmark commitments made and financial pledges recorded.
On December 10, COP28’s Nature, Land Use and Ocean Day saw leaders endorse commitments and promises of more than $186 million to drive climate action and continue to build momentum to protect and restore nature.
Restoring Nature The Need Of The Hour
“There is no path to fulfilling the Paris Agreement and keeping 1.5 degrees Celsius within reach without protecting and restoring nature, land and the ocean,” said HE Razan Al Mubarak, the UN Climate Change High-Level Champion for COP28.
“The COP28 Presidency; the UAE, have demonstrated real action for Nature, one that is backed by significant financial commitments … This level of action must be expedited to achieve real progress by COP30,” said HE Nana Addo Dankwa Akufo-Addo, President of Ghana.
Reversing nature-loss can provide upwards of 30% of the mitigation action needed to keep 1.5C within reach by 2030. At the same time, nature preservation can also contribute a potential $10 trillion worth of new business opportunities and offer almost 400 million new jobs.
The goals depend on investment in and leadership from indigenous communities. Commitments made on Sunday build on those made during COP28’s World Climate Action Summit (WCAS) on December 2, where $2.5 billion was mobilised for nature.
On The Road To COP30 In Belém, Brazil
In addition, since COP27, 30 countries have become members of the Mangrove Alliance for Climate (MAC), taking the total membership to 37 countries, covering at least 60% of the planet’s mangroves. It is an initiative led by Indonesia and the UAE.
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Moreover, the Emirates and Brazil are set to co-lead a two-year strategic partnership bridging COP28 to COP30. The COP28 Presidency and Brazilian President Lula da Silva seek to mobilise new resources and political support for nature on the road to COP30 in Belém.
