The United Arab Emirates (UAE) is getting ready to host the 28th session of the Conference of Parties (COP 28) to the United Nations Framework Convention on Climate Change (UNFCCC) from November 30 to December 12, 2023, at Dubai Expo City. This global event carries significant environmental expectations and is poised to take major resolutions to deal with climate change.
Dubai Expo City: The Venue for COP 28
Dubai Expo City, a visionary city with a curated ecosystem for living, leisure, and business, will be the venue for COP 28. The city combines green spaces with cutting-edge technologies, making it an ideal location for a conference focused on climate change and sustainability.
Climate Change Trends in 2023
As we approach COP 28, it's essential to have knowledge about the latest climate change trends. Global temperatures in 2023 are set to be among the hottest on record, with average temperatures forecasted to be about 1.2°C above pre-industrial levels. This highlights the urgency of addressing climate change and the importance of the decisions made at COP 28.
Renewable Energy Developments in 2023
Renewable energy is a crucial component of combating climate change. By 2024, almost 33% of the world's electricity is forecasted to come from renewables, with solar photovoltaic (PV) accounting for almost 60% of the expected growth. In 2023, renewable energy is expected to make good business sense, with the sector reimagining itself by capitalizing on scalable green technologies.
Some renewable energy projects to watch in 2023 include Solaris' Protevs, the EU's REGACE agrivoltaic project, and Repsol's Delta II wind project. These projects, among others, indicate the growing need for more energy players such as prosumers, ESCos, and DSOs, who will have to seek smart solutions to help manage the increasing renewable energy capacities.
COP 28 Developments and Initiatives
There are several developments and initiatives that are expected to be discussed at COP 28 that includes
The massive and unprecedented deployment of renewables in China and India.
The Save Soil Movement's solution to global agricultural land degradation and strategy to revive soil organic content.
New funds committed to climate change activities in developing countries.
Bold ambition to phase out coal in South Africa, Indonesia, and Vietnam.
Mobilizing USD 100 billion per year for climate action in developing countries.
Mechanism to enable the trading of emission reduction and removal credits generated through specific activities implemented in host countries.
100% renewable energy target for operations by 2030.
As we approach COP 28, it's vital for businesses and individuals to stay informed about the latest developments in climate change and renewable energy. By understanding the current trends and initiatives, we can better prepare for the decisions made at COP 28 and their potential impact on our world.