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First time.. Day Trading at COP 28.. What are we waiting for?

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First time.. Day Trading at COP 28.. What are we waiting for?

The United Nations Climate Conference COP28 is, for the first time, dedicating a day to trade with the aim of discussing its contribution to global carbon emissions, and how to improve trade’s role in the transition to clean energy.

Trade Day will be held on December 4 during the COP28 conference hosted by the UAE from November 30 to December 12 at Expo City Dubai.

The United Nations Conference on Trade and Development (UNCTAD) collaborates with the United Arab Emirates, the World Trade Organization and other global organizations such as the World Economic Forum and the International Trade Council to shape today’s debates.

What is the role of trade in the transition to clean energy?

According to UNCTAD, trade plays an important role in affecting climate change, as global production and distribution of goods and services contributes to nearly a quarter of total global carbon emissions.

The Intergovernmental Panel on Climate Change, made up of the world’s leading climate scientists, has warned that global net-zero carbon emissions must be achieved by 2050 to keep global warming below 1.5 degrees Celsius.

A 2022 World Trade Organization report found that trade and value chains were key factors in the decline in the cost of solar and wind power generation, making renewable energy now cheaper than fossil alternatives in some places, and leading to increased consumption.

Trade can help accelerate the low-carbon transition by eliminating tariffs and reducing non-tariff measures on a subset of energy-related environmental goods, the report says.

The World Trade Organization expects this to increase exports of green goods by five percent by 2030, while increases in energy efficiency and renewable energy will reduce global emissions by 0.6 percentage points.

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Trade in eco-friendly goods and services

According to UNCTAD data, trade in environmentally friendly goods and services is expected to grow by about 4 percent in the second half of 2022 to reach a record $1.9 trillion.

Goods such as electric cars and non-plastic packaging also increased by 20 percent, while trade for wind turbines rose by around ten percent.

Trade can give more countries access to less polluting goods and services, something COP28 aims to put on the table for discussion this year.

However, trade policies for green transition may have negative impacts on developing countries that are less able to respond to changes. Therefore, COP28 discusses how to strengthen the role of trade in achieving climate goals without harming developing countries.

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Mohamed bin Said discusses “COP28” issues with the President of Poland and the Prime Ministers of Italy and Albania

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Mohamed bin Said discusses “COP28” issues with the President of Poland and the Prime Ministers of Italy and Albania

The Head of State, Sheikh Mohammed bin Zayed Al Nahyan, may God protect him, met yesterday with the heads of several delegations participating in the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28). Held at Expo City in Dubai.

This came within the framework of His Highness’ intensive meetings with leaders and officials on the sidelines of the conference.

During his meeting – separately – the President of the Republic of Poland, Andrzej Duda, the Prime Minister of the Italian Republic, Giorgia Meloni, in addition to the Prime Minister of the Republic of Albania, Edi Rama, discussed their high-level bilateral relations. UAE and its allies, and ways to push them forward in various fields, especially development sectors, in addition to some regional and international issues of common interest.

The Head of State also reviewed with the guests the issues raised at (COP28) and the importance of joint work through the conference to produce practical and impactful results. Dangerous consequences of climate change around the world.

During these meetings, leaders and heads of delegations praised the efforts of Sheikh Mohammed bin Zayed Al Nahyan in his speech at the World Climate Action Summit, announcing the importance of establishing a $30 billion fund for global climate solutions. This initiative is reflected in bridging the funding gap, in the field of global climate action.

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A 4,000-tonne Emirati aid ship departed from Fujairah in support of the Palestinian brothers.

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A 4,000-tonne Emirati aid ship departed from Fujairah in support of the Palestinian brothers.

An Emirati aid ship loaded with 4,016 tons of humanitarian supplies left this afternoon for Al-Arish in preparation for their entry into the Gaza Strip, as part of the humanitarian operation “Qaland Night 3” implemented by His Highness. Sheikh Mohammed bin Zayed Al Nahyan, head of state, “may God protect him”, to support the people, brother Palestinians in the Gaza Strip..

The ship, which departed from Fujairah port, carried 3,465 tonnes of food, 420 tonnes of shelter and 131 tonnes of medical aid, both donated by the Khalifa bin Zayed Al Nahyan Foundation and the Foundation for Humanitarian Affairs. The Zayed Bin Sultan Al Nahyan Foundation, in addition to the Emirates Red Crescent Authority, for charitable and humanitarian work..

The Head of State, Sheikh Mohammed bin Zayed Al Nahyan, may God protect him, last November 5 ordered the Joint Operations Command of the Ministry of Defense to launch “The Gallant Night 3”, a humanitarian operation to support the Brotherhood. Humanitarian support to the Palestinian people, in cooperation with humanitarian agencies in the country..

The UAE’s total aid to the fraternal Palestinian people before December 1 was more than 2,681 tons, while the total number of aircraft in the UAE airlift reached 92 aircraft..

The UAE’s commitment embodies the values ​​of solidarity and synergy with the brotherly Palestinian people, based on a long history of relief and humanitarian work during which the UAE is keen to provide all possible support..

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As aggression on Gaza resumes… Withdrawal, withdrawal, condemnations from climate conference in Dubai

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As aggression on Gaza resumes… Withdrawal, withdrawal, condemnations from climate conference in Dubai

A devastating Israeli resumption of war in Gaza on Friday overshadowed the United Nations Climate Change Conference (COP28) in Dubai, with some delegates walking out, leaders canceling their speeches and others not attending the event.

In his speech, Turkish President Recep Tayyip Erdogan said, “As a result of Israel’s occupation, we cannot avoid facing the humanitarian crisis in our neighboring Palestinian territories, which cannot be justified under any circumstances.” He considered it a “crime against humanity and a war crime”.

In turn, the presidents of Colombia and Cuba described the war as “genocide”.

The Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, was not included in the final list of speakers after his name appeared.

Saudi Crown Prince Mohammed bin Salman was scheduled to be the first speaker, but did not attend the summit.

“As we see in the region, conflicts are causing great suffering and emotion,” UN Secretary-General Antonio Guterres said at the summit. “We heard reports of renewed bombs in Gaza.”

Iranian delegates walked out of the conference in protest at the sudden Israeli presence, which the head of the delegation, Energy Minister Ali Akbar Mehrabian, described as “contrary to the goals and directions of the conference.”

Iranian official media reported on Thursday that President Ibrahim Raisi would not attend the conference and that Mehrabian would act in his stead.

Iraqi President Abdul Latif Rashid used his speech to condemn the aggression against Gaza, calling on the international community to “stand firm”.

A war against innocent people

South African President Cyril Ramaphosa said his country was “appalled by the ongoing tragedy in Gaza, and that the war against innocent people in Palestine is a war crime that must stop.”

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Other leaders have also criticized the war in Gaza, but Egyptian President Abdel Fattah al-Sisi has not spoken about it.

Israeli President Isaac Herzog canceled his speech, a day after Palestinian President Mahmoud Abbas canceled his participation in the conference, as the war in Gaza dominated the conference’s deliberations.

So far, the Israeli occupation of Gaza has led to the fall of more than 15,000 martyrs, most of them women and children.

Israel says 1,200 Israeli soldiers and settlers have been killed as a result of Operation Al-Aqsa flooding, which was launched by the opposition on October 7 last year in settlements around Gaza.

The Palestinian opposition said the move came in retaliation for crimes of aggression against civilians in the West Bank and Gaza and the desecration of the blessed Al-Aqsa Mosque.

It is noteworthy that the United Arab Emirates, the host country of the conference, is one of the Arab countries that signed default agreements with Israel in 2020.

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