Climate Action Recap and COP28 Preparations
— A Look Back at a Month of Progress and What's Ahead in November
Countdown to COP28 - Why it matters and what to expect
The 28th Conference of the Parties (#COP28) is a crucial international event hosted by the United Nations to address the global #climatecrisis. It brings together nations from around the world to discuss and negotiate climate policies, actions, and commitments.?
With just 30 days left until COP28 UAE , it provides a platform for countries to set forth their climate goals and strategies to combat #climatechange. It is a vital part of the ongoing effort to implement the Paris Agreement and limit global warming.?
One of the major achievements of COP27 was the establishment of the ‘Loss and Damage Fund’. This fund aims to address the damages and losses caused by climate change. This has marked a significant milestone; however, there are still many aspects to be determined, and it is expected that many of these questions will be clarified during COP28.
Another point that is expected to be discussed is fossil fuels. Remember that fossil fuels are responsible for 73% of #GHG emissions, so this is a topic that has been mentioned repeatedly and is expected to be a relevant this year as well. Reducing them is essential if we want to decrease emissions.
This conference plays a crucial role in shaping the future of our planet, making it a center for discussions on sustainable environmental policies and actions on a global level.?
Here's a comprehensive summary of the outcomes from COP27, providing you with a thorough understanding of all the developments in preparation for the upcoming edition.
Sustainable Development Goal 7 (#SDG7):?
Affordable and Clean Energy is a vital component of the United Nations' 2030 Agenda for Sustainable Development. It emphasizes the importance of ensuring access to affordable, reliable, sustainable, and modern energy for all.?
SDG7 acknowledges that access to energy is a cornerstone of development, impacting health, education, food security, economic growth, and the environment. Without reliable energy sources, many aspects of life are affected, particularly in developing regions. Achieving SDG7 involves enhancing energy efficiency, expanding the use of renewable energy sources, and ensuring universal access to modern energy services.
Key Facts about SDG7: As of the most recent data:
SDG7 is critical in reducing these disparities and advancing the use of clean and renewable energy sources to combat climate change, that is why?
We have recently published 3 projects with which you can support this SDG:?
What Will It Take to Build Trust in the Voluntary Carbon Market?
In one of our most recent articles we were talking about how the voluntary carbon market has faced many challenges despite being a fundamental actor in the fight against climate change.
The voluntary carbon market, often referred to as the #VCM, is a system that allows individuals, organizations, and businesses to voluntarily purchase carbon credits or offsets to compensate for their GHG emissions.?
But what are the main reasons that affect confidence in this market?
Some of them may be:
The Benefits of Industrial Hemp in Carbon Farming
In the quest to combat climate change and reduce greenhouse gas emissions, innovative and sustainable solutions are more critical than ever. One such solution that has gained attention in recent years is the cultivation of industrial Hemp for carbon farming. Industrial Hemp, a variety of the Cannabis sativa plant species, holds great promise as a tool for sequestering carbon dioxide (CO2) from the atmosphere and mitigating the impacts of climate change.?
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Revolutionizing Climate Action: The Collaborative Effort of Hemp Carbon Standard and ClimateTrade
We are excited to announce our strategic alliance with Hemp Carbon Standard , a UK-based team of passionate professionals committed to driving positive climate impact. They’ve developed the world’s only financial incentive program, which rewards industrial Hemp farmers for their environmentally friendly carbon farming practices.
These initiatives underscore the extraordinary potential of Hemp not just in capturing but also sequestering #CO2, positioning it as a vital contributor to the global fight against climate change. The rapid growth and outstanding carbon-absorption capabilities of industrial Hemp make it the perfect choice for carbon offset projects.
Telefónica Customers, Your Impact Speaks Volumes!?
In the period from 2022 to 2023, Telefónica Customers collectively executed an astonishing 3,320 transactions on the ClimateTrade marketplace. Their actions resulted in the offsetting of a substantial 227 tons of CO2 emissions, which is equivalent to negating the carbon footprint of an impressive 998 long-haul flights.
To delve deeper into the sustainability challenges faced by Telefónica and Movistar Plus+ and how we successfully addressed them, we invite you to download our customer story.
At ClimateTrade, we are delighted to have supported Telefónica on every step of the journey towards sustainability. Their most recent implementation the #LivingApp on Movistar Plus+, also allows customers to engage with projects aligned with sustainability goals and aimed at environmental protection.
World Investment Forum and The Valencia Digital Summit
It has been well and truly events season, and our CEO, Francisco Benedito has been spreading our climate action message at key meetings across the finance and technology sectors.?
Fran was invited by the UNFCCC UN to join the Pitch Hub panel, which reviewed sustainability initiatives developed off the back of COP27.?
He was also a key speaker at the sustainable development session, invited and hosted by The UN Tourism .
Last week also gave Fran the opportunity to take part in a prominent technology event in his home city. Speaking at a session hosted by Santander , the VDS gave Fran the opportunity to share his experience and insights into scaling your company in the U.S.A
Together with ángel Alberich-Bayarri , CEO of Quibim and moderator Noaa Barak , Senior Strategy & Innovation Manager of GSMA discussing topics like market entry, funding, and building a strong international team.
New Weekly Feature - Team Spotlight: Climate Champions
We're excited to unveil a fresh edition that offers you an exclusive glimpse into the remarkable individuals who power our company's success. Today, we're privileged to spotlight Juan Sánchez Fernández-Delgado , who serves as our North America Climate Solutions Manager.
Juan is an accomplished professional with a robust background in International Trade, boasting a Bilingual Degree in English and an International MBA.
About his role in Climatetrade Juan has explained to us:
There are many things that I could highlight, but without a doubt, one of them is the visibility it offers to countless projects and initiatives around the world that seek to combat climate change and contribute as much as possible to create a more sustainable future.
It is very gratifying to be immersed in this sector, where everyone is rowing towards the common goal of combating the greatest challenge facing humanity today, which is undoubtedly climate change and all that it can cause.
This is just the beginning! Stay tuned for forthcoming editions featuring more of our exceptional team members.