This week, more than 70,000 people from around the world will converge in Dubai to participate in the climate summit Cop28. In the lead-up to the event, the UAE’s Cop28 Presidency has made no secret of its ambition to make this the most inclusive and consequential Conference of the Parties. And while much of that effort has focused on elevating the voices of historically under-represented communities, and rightly so, a lesser-known determination of the Cop28 Presidency has involved transforming the manner in which the Cop process engages with the private sector.
Most notably, Cop28 will feature the inaugural Business and Philanthropy Climate Forum on December 1 and 2, held in parallel with the World Climate Action Summit. Hosted by the Cop28 Presidency, the Forum will bring together 1,000 leaders from business and philanthropy, along with policymakers and other stakeholders, to exchange ideas, co-create solutions and spur tangible action to support the climate agenda.
Not only is there no time to waste. There is also no need to wait. There are abundant opportunities for business and philanthropy actors to meaningfully engage. In fact, Cop28 and the Business and Philanthropy Climate Forum have developed a set of 22 potential actions that chief executives and philanthropists could take right away.
From supporting game-changing climate "moonshots" and breakthrough technologies, and expanding indigenous peoples’ direct access to investment, to accelerating the transformation of food supply chains across the Global South, among many others, the options are diverse and run the gamut of climate and nature-related immediate needs and opportunities.
Most importantly, they provide an accessible way for private sector leaders to move beyond pledges and declarations and into action and implementation, in ways that are suited to their capabilities and competencies.
Naturally, the Forum’s agenda is aligned with the four pillars outlined by the Cop28 Presidency, including fast-tracking the global energy transition, transforming climate finance, putting nature and people at the heart of climate action, and making inclusivity a hallmark. Some of the key areas that will be fleshed out over 100 sessions include: accelerating technology transfer, de-risking green investments, enhancing natural capital, boosting green small and medium enterprises and start-ups, and increasing investment in resilience for vulnerable communities around the world.
Importantly, the outcomes are intended to extend far beyond Cop28. To that end, the Cop28 Business and Philanthropy Forum has established global delivery partnerships with organisations as geographically and functionally diverse as the Sustainable Markets Initiative, International Finance Corporation, Organisation for Economic Co-operation and Development, World Economic Forum, Asian Development Bank, Africa Finance Corporation, Inter-American Development Bank, Bill and Melinda Gates Foundation, and XPrize.
Philanthropic capital can often be deployed in more flexible, risk-tolerant and patient ways than other forms of finance
Arguably, one of the most substantial impacts that business and philanthropy stakeholders could make is to help fix climate finance. It is estimated that global investments of more than $3 trillion per year will be required to enable the world to achieve net zero emissions by 2050. Under the right conditions, the private sector could play the most consequential role in generating the multiplier effect required to take us from billions to trillions and meet that shortfall.
However, for far too long, business and philanthropy have been on the periphery of global climate discussions, often dismissed as a part of the problem. Some may have been OK with that, as it helped them avoid the thorny politics and in some cases even thornier choices involved in addressing the climate crisis, but even those that did want to engage with the process in a constructive way could not always find a way in.
This is a terrible missed opportunity. Private capital markets have more than doubled over the past decade, reaching more than $23 trillion. Philanthropic capital alone flowing through the global financial system every single year is well above $1 trillion dollars. By its nature, philanthropic capital can often be deployed in more flexible, risk-tolerant and patient ways than other forms of finance. Combined, these private capital flows are key to unlocking accessible, affordable and targeted solutions to closing the climate finance gap. And we mustn’t neglect the massive additional contributions that businesses everywhere and of all sizes can make to the climate action agenda through their networks, capacity to innovate, and engagement with local communities.
In the same way that we can no longer decouple the human development agenda from the climate and nature agenda, we can also no longer afford to keep governments, businesses and philanthropists operating in isolation from one another. They must work together and in parallel, collaborating where they can while always playing to their respective strengths. When we get this right, blending capabilities and capital from across these different sectors, we can produce outcomes on the required scale and in a timeframe that not one of individual stakeholder groups could achieve on their own.
Governments at all levels will always have a leading role to play in steering local and global responses to climate change, but there is increasing evidence that the private sector holds the greatest untapped potential for accelerating the implementation of the world’s climate and nature goals. Through initiatives such as the Cop28 Business and Philanthropy Forum, we can engage with this essential community and others in new and constructive ways, in turn creating a more inclusive green agenda that meets our climate and nature goals, while being conducive to social and economic progress in a way that leaves no one behind.
THE SPECS
Engine: 1.6-litre turbo
Transmission: six-speed automatic
Power: 165hp
Torque: 240Nm
Price: From Dh89,000 (Enjoy), Dh99,900 (Innovation)
On sale: Now
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Most F1 world titles
7 — Michael Schumacher (1994, ’95, 2000, ’01 ’02, ’03, ’04)
7 — Lewis Hamilton (2008, ’14,’15, ’17, ’18, ’19, ’20)
5 — Juan Manuel Fangio (1951, ’54, ’55, ’56, ’57)
4 — Alain Prost (1985, ’86, ’89, ’93)
4 — Sebastian Vettel (2010, ’11, ’12, ’13)
The years Ramadan fell in May
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
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Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
UAE currency: the story behind the money in your pockets
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Padmaavat
Director: Sanjay Leela Bhansali
Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh
3.5/5
Porsche Taycan Turbo specs
Engine: Two permanent-magnet synchronous AC motors
Transmission: two-speed
Power: 671hp
Torque: 1050Nm
Range: 450km
Price: Dh601,800
On sale: now
FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.
Continental champions
Best Asian Player: Massaki Todokoro (Japan)
Best European Player: Adam Wardzinski (Poland)
Best North & Central American Player: DJ Jackson (United States)
Best African Player: Walter Dos Santos (Angola)
Best Oceanian Player: Lee Ting (Australia)
Best South American Player: Gabriel De Sousa (Brazil)
Best Asian Federation: Saudi Jiu-Jitsu Federation
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
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French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
- Understanding of marketing objectives and audience engagement.
- Tourism industry knowledge.
- Professional ethics.
MATCH INFO:
Second Test
Pakistan v Australia, Tuesday-Saturday, 10am daily at Zayed Cricket Stadium, Abu Dhabi
Entrance is free
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Afghanistan fixtures
- v Australia, today
- v Sri Lanka, Tuesday
- v New Zealand, Saturday,
- v South Africa, June 15
- v England, June 18
- v India, June 22
- v Bangladesh, June 24
- v Pakistan, June 29
- v West Indies, July 4
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