In The Headlines - May 2023

With six months to go to COP28 in Dubai, UAE,?findings of a research?conducted by financial research firm East & Partners reveal that the?world's large corporations want the private sector to take a more active role at November's #COP28.?

The researchers polled 1,308 respondents from the largest 100 companies by revenue in the Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC) about their top priorities for COP28.?

When asked about the top priorities for the business community at COP28, respondents expressed the need for a stronger private sector voice in tackling climate change; climate finance reform; green innovation and climate technology; biodiversity and inclusion.?

The ‘Keep 1.5oC Alive’ target from COP26 was way down the list of priorities, indicating a lack of confidence in the ability to achieve the ambition.?

2.

The UN Climate Change High Level Champions, COP28 Presidency and the Dubai Chambers this week held a forum titled 'Road to COP 28: Driving collective climate action in the UAE.' at the Dubai International Financial Centre.?

#RoadtoCOP28' is one of the events organized in the run-up to #COP28UAE, to shed light on the work of the High Level Champions and the COP28 Presidency, including the #RacetoZero and #RacetoResilience campaigns and local alliances for climate action.?

The event brought together explored climate mitigation, adaptation & resilience, and finance, among other issues.?

Her Excellency Ms.?Razan Al Mubarak, the UN?Climate?Change?High-Level Champion spoke on the Race to Zero campaign and called for greater climate action from all of society. She is the Managing Director of the Environment Agency Abu Dhabi (EAD) and President of the International Union for Conservation of Nature (IUCN).?

It was announced that UAE 's NET Zero Strategy by 2050 pathway targets will be released in June, 2023 as part of the updated Nationally Determined Contributions. The UAE's goal is to reach net zero emissions by 2050.

3.

The UK government has defended the UAE's appointment of oil executive Sultan al-Jaber as head of this year's COP28 climate summit.?This is after more than 130 lawmakers from the US and EU wrote to the UN agitating for his removal, claiming that having a CEO of one of the largest oil companies, the state-owned Abu Dhabi National Oil Company (ADNOC), undermines the ambition of the summit. There has long been a push to exclude the fossil fuel industry from the COP climate summits. The legislators warned that fossil fuel companies could exert ‘undue influence' in the talks at the summit.?

The UK Minister of State for Energy Security and Net Zero?Graham Stuart said Jaber was an 'outstanding individual’ who has been cleaning up the operations of ADNOC and reducing emissions.?

The President of the COP summit provides leadership in the logistics of the event as well as the critical politics on climate action.??

4.

The Bonn Climate Change Conference, which takes place midway between the Conference of the Parties (COP) summits will be held from?June 5-15, 2023 at the World Conference Center Bonn in Germany.?Parties to the United Nations Framework Convention on Climate Change (UNFCCC) and the Paris Agreement will continue the global climate change conversation where they left off at COP27, in preparation for?COP28 in November/December 2023 in Dubai.

The discussions will revolve around?#climatechange, #mitigation, #adaptation, #lossanddamage, #climatefinance, governance, knowledge-sharing, capacity-building, and action for climate empowerment, among others.?

5.

GITEX Africa has launched today in Marrakech, Morocco. The?tech event organized under?the auspices of the world's biggest tech expo, Dubai's GITEX Global, runs until 2 June, 2023. ?

The event will celebrate Africa as an innovation hub and showcase the digital transformation agenda of the continent. ?

GITEX Africa is endorsed?by the Moroccan Ministry of Digital Transition and Administration Reform?and hosted by?Morocco's Digital Development Agency (ADD). ?

Now the largest tech show in Africa, GITEX will converge governments, the business community, big techs, start-ups, investors and walk-in guests for the three-day event.?

From SS Desk

SS NEWS

1. Sustainable Square Joins the UN Principles for Responsible Investment (PRI) as a Service Provider Signatory

2. Client Satisfaction Survey 2022 is out

SS INSIGHTS

1. Playing the Game of Climate Change Scenario Analysis

The?#climatechange?crisis presents grave prospects for the planet if we do not collectively act through decisive climate action. Businesses must plug in and play their part.

Susutainable Square Group CEO Monaem Ben Lellahom shows you how to use scenario analysis in your organization in a fun and engaging way through gamification.?

2. Exploring the Growing Emphasis on ESG Reporting in India

Listed companies in India are in a rush to beat the deadline for #esgreporting. In line with the growing importance of ESG reporting in India, the Securities and Exchange Board of India (SEBI) has mandated the top 1,000 listed companies to disclose their ESG performance effective from the financial year 2022-23.

ESG Advisor Ramesh Balasingh ?looks at the potential and challenges of sustainability reporting in India.

3. Unmasking Carbon Credits: Green Savior or Market Manipulation?

?In the global battle against climate change, carbon credits have emerged as a potential solution to combat greenhouse gas emissions. But are they a green hero or just another manipulation in the market?

This thought-provoking article by Susutainable Square Group CEO Monaem Ben Lellahom highlights the potential controversies surrounding carbon credits. It sets the stage for a debate on the true nature and effectiveness of carbon credits in addressing climate change.

Thank you for reading The ESG Bulletin. See you soon, with the next edition of our monthly newsletter tackling the latest in global sustainability.

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