On COP28 sidelines, philanthropies pledge $5 billion for climate action

COP28

Global business leaders and philanthropists have announced a range of transformative climate and nature initiatives, and commitments to mobilise $5 billion in collective funding at COP28.

The Business & Philanthropy Climate Forum, held across the COP28 Blue Zone and Green Zone, brought together over 1,300 key stakeholders, including Heads of State and government, business CEOs, philanthropists and NGO heads, who assembled to help showcase and accelerate progress on climate targets and industry transitions.

It's the first dedicated platform for the private sector and philanthropy to be included in the COP process.

It included a full-day session in the Green Zone, focused on fostering innovation and driving impact in areas including sustainable climate finance, coral restoration, green technology, energy and industry transition, sustainable food systems, and empowering SMEs.

Addressing the Forum, COP28 President Dr. Sultan Al Jaber said, “To fix climate finance, we must leverage the knowledge, resources and power of the private sector to ensure we deliver necessary funding to those in need, particularly in the Global South.

"COP28 is committed to directing capital from multiple sources to meet the trillions required to attack emissions so we can all shepherd a just, orderly transition."

More from UAE

On Virgin Radio today

  • Non Stop Hits

    Midnight - 6:00am

    The UAE's #1 Hit Music Station with no interruptions

  • The Kris Fade Show

    6:00am - 10:00am

    Kris, Priti and Rossi host the UAE's biggest radio show. It's full of fun, laughs and it's Where The Stars Live.

Trending on Virgin Radio

  • Bassem Youssef

    One of the most talked about comedians in the world takes over The Kris Fade Show. Watch the full interview here...

  • Untold Dubai

    It arrived: The UAE's First Mega Music Festival at Expo City Dubai!

  • Mais Vault on the Kris Fade Show!

    The boys tried their 'pick up' lines on Mais Vault and things did not go according to plan...

  • The Kris Fade Show Podcast

    Not in the car so much while Kris, Priti and Rossi are on air? Check out the daily podcast here...