As COP28 reaches its halfway point, UN Climate Chief Simon Stiell emphasizes the need for the conference to achieve greater advancements in climate financing, engage in a global stocktake, and overall work to dramatically speed up climate action.
The Mission Partner Partnership strategy includes steps toward decarbonizing the concrete and cement industry over the next 25 years as major industry players have collectively acknowledged the need to act on climate goals.
Key objectives range from financial support to ecosystem conservation and largely work to protect the food and agricultural sector’s most vulnerable populations.
The agreement will forward international the ability of carbon markets to mitigate climate change and engage the business sector in working to meet Paris Agreement goals.
The framework will help banks measure, benchmark, and disclose alignment of their aluminum lending portfolios with the 1.5-degree warming scenario outlined in the Paris Agreement.
The information comes as discussions on the role of fossil fuels in international net-zero goals ramps up at the UN climate conference in the UAE.
As the UN climate conference begins in Dubai, international sustainability financing and significant cuts in emissions remain key topics.
Its Global Energy Outlook explores four possible scenarios for the energy transition, ranging from 1.5 degrees Celsius to 2.9 degrees Celsius of global warming.
The company says that increased demand for semiconductors, commonly used for climate change platforms, has also impacted emissions reductions.
The company says the engine system, which has been previously able to operate on diesel, liquefied natural gas, and biofuels, allows for easy adoption of sustainable fuels.