What is the Impact of COP 28 in Dubai?

What is the Impact of COP 28 in Dubai?

by Jayati Gadamsetty 21, Feb 2024

The 28th Conference of the Parties, or COP 28, is a climate change conference in Dubai organised by the United Nations. It took place between 30th November and 13th December 2023 in Dubai. 

The COP 28 in Dubai is significant in combating climate change in the UAE. Global leaders, along with decision-makers, scientists, climate advocates and shareholders, come together to find solutions for environmental changes. 

Dubai is widely known for its economic development and beautiful skylines, which form an apt backdrop for COP 28. The Emirates loves to show its sustainability and creativity on the world stage. This conference posed a rare opportunity for Dubai to exhibit command in dealing with climate change and display its drive to reduce the effect of environmental damage.

It is important to have knowledge about the impacts and influence of the COP 28 held in Dubai. Read the blog to learn more.

Detail of COP 28 in Dubai

  1. The COP 28 UAE is part of an ongoing conference. Here, nations joined with the United Nations Framework Convention on Climate Change (UNFCCC) get together to discuss problems related to climate change. 
  2.  Countries review policies, agreements, and impacts that unprotected nations can face.
  3. Discuss agreements and protocols such as -
  • Kyoto Protocol 
  • Paris Agreement

Factors Discussed at COP 28 in UAE

  1. Analysis and Vitality

The COP 28 served as a forum where countries discussed how efficiently the goals under the Paris Agreement were met. Based on the findings, they came up with the conclusion that nations have to put more effort and step up their game to fight climate change.

  1. Renewable Energy Conversion

COP 28 UAE indicated a notable shift in attitude towards fossil fuels. All nations agreed to slowly stop using fossil fuels.

By doing this, the UNFCCC has created plenty of opportunities for higher investment in renewable energy sources. It also implies a more green and sustainable future. 

  1. Financial Promises

High-income countries have committed to helping developing countries by providing financial aid. This aid is specifically for dealing with climate change and the shift towards sustainable economies.

  1. Increased Green Initiatives

COP 28 encouraged conversations about how nations can improve their commitments to fight climate change. Countries optimised their groundwork and targets to align with the Paris Agreement and the Kyoto Protocol.

  1. Public Participation

Controlling climate change requires active participation not only from authorities but also from citizens. The non-authorised figures mentioned below play a big role in addressing such issues.

  • Youth
  • Tribal groups
  • Charitable Organisations 
  • Non-governmental Organisations etc.

Impact of COP 28 in Dubai

COP 28’s impact is anticipated to be intense, locally and internationally. The conference is a platform where nations can renew the obligations of the Paris Agreement and Kyoto Protocol.

According to the discussions at COP 28 in Dubai, the UAE has committed to lowering carbon emissions by 23% by 2030 and has set a budget of approximately AED 600 billion.

Impact of COP 28 UAE on Businesses

  1. COP 28 in Dubai has created a global need for green solutions, allowing entrepreneurs to lead the way. 
  2. Sustainable businesses attend to a rapidly growing client base searching for eco-friendly products and services. 
  3. Renewable projects improve a company’s reputation and reliability by syncing with Dubai’s vision for a  greener future. It also attracts investors who are environmentally conscious. 
  4. Sustainable businesses save up on plenty of costs. These companies use less energy and have lower operating costs, which leads to increased savings and profits. 
  5. The Dubai government and international companies have offered incentives, grants and subsidies to support green businesses. 
  6. These companies help reduce carbon emissions and environmental footprint.

Sustainable Business Options in Dubai

As we already know, COP 28 in Dubai focuses on planning strategies for assisting with climate change and sustainable companies. Let’s take a look at the sustainable option for business setup in Dubai

  1. Green Hydrogen Production

  • Green hydrogen production emphasises on generating hydrogen by utilising energy sources like wind and solar power instead of fossil fuels. 
  • This tech helps reduce CO2 in industries such as transportation, manufacturing etc.
  1. Green Buildings Construction Materials Trading

This business activity involves providing construction materials that are sustainable and eco-friendly. Some of the materials are -

  • Fuel efficient insulation
  • Low emission paints
  • Recycled steel
  • Wood
  1. Green Buildings Consultant

A green building consultant provides knowledge and counsel on eco-friendly construction methods. The consultants advise construction firms and architects on the following - 

  • Energy-efficient concepts, 
  • Renewable energy systems, and
  • Green technologies into building projects.
  1. Green Buildings Engineering Services

This business provides engineering services while implementing sustainable technologies. Some of the services are -

  • Rainwater harvesting
  • Installation of green roofs, etc
  1. Solar Panels Manufacturing

Solar panel manufacturers create photovoltaic (PV) panels that transform sunlight into energy. This helps lessen carbon footprint and air and water pollution.

  1. Solar Energy Systems and Components Trading 

This type of sustainable trading compromises of delivery and fitting of solar energy systems and structures such as - 

  • PV panels
  • Inverters, etc.

Shifting towards solar energy reduces greenhouse gases and dependency on fossil fuels. 

Climate change is a growing concern and poses plenty of risks worldwide. Tackling the issue together. Businesses have an important role in creating environmental sustainability. They must spread awareness about eco-friendly practices and contribute to reducing waste.

While COP 28 in Dubai brought some relief and development, it is vital to remember that we are still a long way from our climate goals. 

We need to radically change our way of thinking and shift to renewable energy. It is also essential to hold countries accountable for their pollution. Strong actions and joint responsibility are the only ways to divert from the harsh impacts of climate change.
Commitbiz believes in a sustainable way of living and fighting climate change. We have assisted many entrepreneurs in opening environmentally friendly and sustainable companies in the UAE. Contact us to learn more.

FAQs

How will COP28 impact the UAE and the broader Middle East region?

COP28 presents an opportunity for the UAE and the broader Middle East region to showcase their commitment to sustainable development and renewable energy initiatives.

Hosting COP28 in Dubai provides a platform for highlighting regional climate challenges and solutions while fostering partnerships with other nations to accelerate climate action. 

The event may also stimulate investment in clean energy projects, innovation, and job creation, positioning the region as a leader in the global transition to a low-carbon economy.

 

What opportunities does COP28 present for businesses operating in Dubai?

Companies can capitalise on this opportunity by developing green technologies, participating in carbon offset programs, and forming strategic partnerships to address climate challenges. 

Additionally, the event may spur investment in clean energy projects and foster collaboration between businesses, governments, and non-profit organisations, creating new avenues for growth and development.

 

What are the potential benefits for businesses participating in COP28 in Dubai?

Participating in COP28 in Dubai presents businesses with opportunities to enhance their reputation as environmentally responsible entities. 

Engaging in discussions and initiatives at the conference can also facilitate networking with other eco-conscious businesses and stakeholders, potentially leading to partnerships and collaborations that drive innovation and growth in sustainable practices.

Start your Entrepreneurship Journey Today in UAE from AED 5,760

Commitbiz will help you with every step of your success journey. You can get one-on-one mentorship from our experts and get guidance on how to clear the legal proceedings and grow your business.

Know More