The upcoming COP28 Business and Philanthropy Climate Forum, which is set to run parallel to the World Climate Action Summit on December 1 and 2, 2023. This forum aims to bring together 500 leaders from the business and philanthropic sectors with policymakers to accelerate climate solutions and achieve more ambitious outcomes.
It has garnered crucial partnerships with renowned international organizations, including the Sustainable Markets Initiative (SMI), the International Finance Corporation (IFC), the Organisation for Economic Co-operation and Development – Network of Foundations Working for Development (OECD-NetFWD), the World Economic Forum – Giving to Amplify Earth Action, the Asian Development Bank, the Africa Finance Corporation, the Bill & Melinda Gates Foundation, and XPRIZE.
The primary goal of the forum is to address the annual financing gap of over $3 trillion, which is deemed essential for achieving net-zero emissions, reversing nature loss, and restoring biodiversity.
These partnerships signify a commitment to bridge the gap between climate ambition and actionable initiatives, with a focus on aligning industry, investment, and country roadmaps to expedite climate efforts.
The forum will span the COP28 Blue Zone and Green Zone and is a significant step in shaping the COP28 agenda through open consultations. It aims to generate a multiplier effect on climate and nature goals through collective action from both the business and philanthropic sectors.