Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

What to watch at COP28 on Monday

Published 12/03/2023, 04:04 PM
Updated 12/03/2023, 04:05 PM
© Reuters. A demonstrator holds a placard, during a climate protest coinciding with COP28 being held in Dubai and ahead of the upcoming Belgian presidency of the Council of the European Union, in Brussels, Belgium, December 3, 2023. REUTERS/Johanna Geron

DUBAI (Reuters) - Monday is finance day at COP28, which means more funding is likely to be announced for the climate cause.

If that sounds familiar, that is because world leaders and the private sector have spent much of the first few days of this year's U.N. climate summit talking about boosting finance for climate action and disaster support.

With world leaders having left the conference in Dubai, expect the finance talk to be a little more detailed and the announcements a little less bold, with nitty-gritty discussions meant to improve financial plumbing but not necessarily grab headlines or photo ops.

Central to the summit's outcome is how countries will word a final agreement on the future of fossil fuels, and dividing lines are becoming clear.

Away from the main COP28 venue, Saudi Arabia will host a side event called Saudi Green Initiative to promote its clean energy plans.

© Reuters. A demonstrator holds a placard, during a climate protest coinciding with COP28 being held in Dubai and ahead of the upcoming Belgian presidency of the Council of the European Union, in Brussels, Belgium, December 3, 2023. REUTERS/Johanna Geron

The U.N. climate agency may also publish a new draft document showing what progress countries have made so far on the global stocktake - the painstaking process of agreeing a new plan to curb global warming.

The COP28 site could also experience more small, pop-up protests, as activists see the U.N.-led event as a rare chance to rally in the United Arab Emirates, where public protests are banned.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.