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December 21, 2023

COP28: implementing commitments in the real economy

By Rhian-Mari Thomas
Finance pledges made in Dubai include investment in R&D to improve the efficiency and cost-effectiveness of green technologies, and the quantification of risks associated with unsustainable lending practices. (Photo: Maria Magdalena Arrellaga/Bloomberg)
Finance pledges made in Dubai include investment in R&D to improve the efficiency and cost-effectiveness of green technologies, and the quantification of risks associated with unsustainable lending practices. (Photo: Maria Magdalena Arrellaga/Bloomberg)

Agreements are not enough. For private capital to mobilise and fund climate goals, it must be profitable for its providers

As even the most casual spectator of almost three decades of climate talks will have observed, goals – however ground-breaking or ambitious – do not implement themselves. The final agreement reached at the COP28 in Dubai to “transition away from fossil fuels” will prove no exception.

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