- Jafar emphasises business commitments and fossil fuel targets in COP28 environmental progress.
- Targets include 26 major deals, real financial commitments and the first mover’s coalition.
Special Representative Badr Jafar emphasised businesses’ pivotal role in driving environmental progress for COP28. Jafar, also CEO of Crescent Enterprises, anticipates over 500 global leaders, CEOs, and charities at the December 1st to 2nd Business and Philanthropy Climate Forum. He urges companies to back commitments with substantial funds, targeting at least 26 significant deals across sectors.
Jafar aims for tangible actions, not just pledges, emphasising the need for real money. The First Movers Coalition targets over 100 companies aligning procurement with global climate goals. Plans include launching the Energy Transition Accelerator fund for developing world technologies. Specific fossil fuel sector targets zero-methane emissions by 2030, urging oil and gas companies to take unwavering responsibility.
The group aims for a comprehensive plan for the energy sector to achieve net-zero emissions by 2050. Jafar stresses COP28’s agenda for uniformity in terminology and targets to establish standard definitions and frameworks for global climate efforts.