A Break in the Plenaries on the 8th Day of COP28!
We have entered the second week of the 28th session of the Conference of the Parties (COP28)!
It is the ideal time to analyze the main announcements and discussions that have marked the past few days.
Today, December 7th, designated as the COP28 “Rest Day,” there was a break in the plenaries, directing activities towards cultural and leisure moments.
Taking advantage of this strategic interval, let’s recap the most important announcements and debates of the last 7 days, concluding an intense week of activities at COP28, the United Nations (UN) Conference on Climate Change, which continues until December 12th, in Dubai, United Arab Emirates.
Stay informed about the main highlights of this period with the exclusive coverage from Grupo Myr!
Directly from Dubai, our directors Sérgio Myssior e Thiago Metzker continue to actively follow this major event.
Cultural Activities Mark the 8th Day of COP28!
On the 8th day of COP28, there was a Sustainable Fashion Show, demonstrating how the fashion industry can play its role in limiting the average global temperature rise to 1.5 °C.
Another highlight of the day was the remarkable presence of the astronauts from the United Arab Emirates, Hazzaa Al Mansoori and Sultan Al Neyadi, who made an appeal to the global community to protect our planet for future generations.
COP28: A Week in Review!
Climate change is already triggering various extreme weather events across the planet, such as droughts, heatwaves, and intense rainfall, which occur with greater frequency and severity.
Unfortunately, the most vulnerable communities, which historically have a lower responsibility for climate change, are the first to be affected, disproportionately.
With this, the central theme of COP28 revolves around Climate Financing.
On the first day of the Climate Summit in Dubai, on November 30th, the approval of the Climate Fund for Loss and Damage for Vulnerable Countries was announced, a historic decision!
- Contributions exceeding $400 million were announced to assist vulnerable countries in climate change, right on the first day of the event.
During a week of COP28, various other interconnected themes were also under discussion!
These were:
- Health in Climate Change;
- Trade, Gender Equality, and Responsibility;
- Energy, Industry, Just Transition, and Indigenous Peoples;
- Multilevel Action, Urbanization, Built Environment, and Transport.
Energy Transition towards Net-Zero: Green Financing and Just and Equitable Transition
- The United Arab Emirates have pledged $270 billion in green financing by 2030.
- 116 countries signed the “Global Renewable Energy and Energy Efficiency Commitment,” aiming to double global renewable energy capacity by 2030 and annually improve global energy efficiency.
- 39 countries expressed support for the “Hydrogen Declaration of Intent.”
- The Brazilian Development Bank (BNDES) announced an investment of R$ 75 million in an innovative fund for small and medium-sized enterprises in the Amazon.
Charter for the Decarbonization of Oil and Gas
- 50 oil and gas companies signed the “Charter for the Decarbonization of Oil and Gas.” Together, they represent more than 40% of global oil production;
- The USA committed to stop using coal-fired power plants.
Financing for Health
For the first time, the Conference of the Parties had a “Health Day,” including a ministerial meeting on climate change and health, held on December 3rd.
- Announcement of $777 million (R$ 3.4 billion). Some countries and philanthropic entities committed to assist in treating tropical diseases, heat stress, and other health threats related to the impacts of climate change;
- 123 countries signed the COP28 Declaration on Climate and Health.
President Lula Speaks on the 2nd Day of COP28 and Calls for Concrete Actions
- The Brazilian Government has committed to reducing carbon emissions by 48% by 2025 and achieving carbon neutrality by 2050;
- And announced investments of around R$ 21 billion towards a sustainable economy.
Minas Gerais Highlighted on Minas Day
At the Brazil Pavilion, Minas Day sought joint solutions between the government and the private sector to face the challenges and impacts resulting from climate change, bringing together government authorities, representatives from CNI, FIEMG, CEMIG, BDMG, Minas Gerais Industry Association, and other companies.
On this day, new investments in the state were also announced, and 57 success cases, examples of tackling the climate crisis, were presented!
Important Debates in the ICLEI Pavilion – Multilevel Action & Urbanization
Full of significant debates, the ICLEI Pavilion – Local Governments for Sustainability is the global stage for the municipal and subnational climate agenda at COP28, highlighting the leading role of subnational governments!
This leadership was further emphasized during the significant Ministerial Meeting on Urbanization and Climate Change, which brought together Ministers, local leaders, and NGOs to address complex challenges.
The focus was on coordinating multi-level actions for Sustainable Urbanization in sectors such as transport, energy, water, buildings, and waste. The recommendations from this meeting will be carried forward to inform the outcomes of COP28, including the Coalition for High Ambition Multilevel Partnerships (CHAMP).
There, our directors Sérgio Myssior and Thiago Metzker personally attended several debates over these days.
Myr Group: Our Directors Sérgio Myssior and Thiago Metzker Spoke with Various Authorities!
During the first week of COP28, our directors, Sérgio Myssior and Thiago Metzker, had the opportunity to talk and interview various authorities present at this great event.
Check out our photo retrospective of the last few days!
Also read and watch, by clicking on the links below, our exclusive daily coverage from the beginning of COP28 on November 30th:
- Myr Group at COP28: An Exclusive Perspective on the Opening of the UN Climate Change Conference!
- Emblematic speeches from world leaders mark the 2nd day of COP28. See it in Myr Group’s coverage!
- Historic commitments and challenges towards carbon neutrality mark the 3rd day of COP28. See it in Myr Group’s coverage!
- 4th day of COP28 attracts $777 million in financing to combat diseases related to the impacts of climate change
- Finance, Trade, Gender Equality, and Responsibility featured on the 5th day of COP28!
- Broad and interconnected topics mark the discussions of the 6th day of COP28
- Central discussion of the 7th day of COP28 revolves around Multi-level Action
And what can we expect until December 12th?
At COP28, the first phase of the “Global Stocktake” is scheduled to take place, allowing for the review of the Nationally Determined Contributions (NDCs) of countries, established in the Paris Agreement during COP21, with the aim of reducing global warming.
Stay updated on the main debates of COP28 with the exclusive coverage from Grupo Myr!
Follow our updates on our blog and social networks: LinkedIn, Instagram, Facebook, YouTube and Podcast.
Myr in the Media:
Directly from Dubai, our directors, Sérgio Myssior and Thiago Metzker, have been
contributing with in-depth analyses in Rede Minas’ coverage of COP28.
Check out the latest reports from Jornal Minas:
