By Panichat Kitisittichai, SasinSEC
COP, an acronym for the Conference of the Parties, embodies an integral facet of international cooperation following the signing of pivotal treaties. Primarily recognized in the climate action sphere, these gatherings, such as the upcoming COP28 in the UAE, mark critical junctures where nations convene to chart pathways for climate mitigation and adaptation strategies.
The inception of the United Nations Framework Convention on Climate Change (UNFCCC) in 1992 united 154 countries in a commitment to combat detrimental human-induced effects on the climate. Subsequently, COP meetings have become annual fixtures, delving into strategies, assessing progress, and deliberating on executing these global environmental commitments effectively.
As we approach COP28, hosted in the United Arab Emirates, the spotlight intensifies on evaluating advancements towards realizing the objectives laid out in the Paris Agreement. Despite significant strides, the momentum towards achieving net zero emissions demands acceleration, measured not in decades but in months.
A standout feature of COP28 is the involvement of the SasinSEC team in collaborating with McKinsey through a live-streamed event. This participation aims to gain innovative insights, foster collaborations among diverse stakeholders, and host a series of events aligning with the COP28 agenda in the UAE.
Key areas of focus during COP28 include the inaugural Global Stocktake (GST), aimed at assessing nations’ progress in meeting Paris Agreement targets. Additionally, the UAE has emphasized three priority areas:
● Expediting the energy transition and emission reduction by 2030
● Reshaping Climate Finance Frameworks
● Integrating nature, people, livelihoods, and communities into climate action
SasinSEC’s virtual COP28 program highlights pivotal discussions to spur climate action and economic growth. Noteworthy sessions include:
1. Lessons from industry leaders in tackling the challenge of decarbonization across sectors
2. Strategies for holistic decarbonization in the mobility sector
3. Exploring the role of investors in driving innovation and funding for industrial decarbonization
4. CEOs share experiences in navigating the transition towards green businesses amidst economic reshaping.
5. Examining the potential of high-integrity carbon markets to finance global climate transitions
6. Addressing the imperative shift towards a nature-positive food system for climate resilience
7. Exploring challenges and opportunities within sustainable material value chains
8. A reflective session wraps up COP28, analyzes achievements, and sets the course for future action.
SasinSEC anticipates leveraging the knowledge and insights gained from participation in COP28 to advance projects in Thailand, fostering sustainable practices and economic growth in alignment with global climate ambitions.