Almost one third of the world's large corporations are keen to seen the role of the private sector prioritised at November's Cop28 summit in a survey that placed strong emphasis on solutions-driven responses to the climate crisis.
The poll found that engaging the private sector was viewed as a top priority for Cop28, while reforming climate finance and clean tech innovation came second and third.
The categories of biodiversity, inclusion and the 1.5C target for capping warming were placed lower in the poll of priorities.
More than half of the 100 companies in the study said business needed a "stronger voice" when it comes to measures aimed at tackling climate change.
The research, conducted by the financial research firm East and Partners and the communications consultancy Impact and Influence, illustrates a lack of confidence among global corporation on the ability to stay below the Paris Agreement target figure.
With exactly six months to go before the Cop28 UN climate summit in Dubai, research shows the "Keep 1.5ºC Alive" pledge from Cop26 in Glasgow is now at the bottom of the list of desired outcomes for companies planning to attend Cop28.
Private sector engagement
“This research – the first of its kind – reveals businesses want a seat at the table at Cop28 to put their shoulder to the wheel to solve the escalating climate crisis. At the moment, business leaders feel side-lined in the climate discussions," said Paul Dowling, co-founder and principal analyst of East and Partners.
“This year's Cop28 organisers would be wise to bring them to the table, not only to boost confidence in the process but also to harness the immense resources and innovation that the private sector can bring to the fight against climate change."
'Weak pulse'
Last week research from the World Meteorological Organisation found there was a 66 per cent likelihood of exceeding the 1.5ºC threshold in at least one year between 2023 and 2027.
The secretary general of the WMO, Prof Petteri Taalas, pointed out that the research didn't mean that "we will permanently exceed the 1.5ºC specified in the Paris agreement, which refers to long-term warming over many years.
"However, the WMO is sounding the alarm that we will breach the 1.5ºC level on a temporary basis with increasing frequency.”
Rishi Bhattacharya, chief executive and founder of Impact and Influence, said 'Keeping 1.5 ºC Alive' attracted surprisingly low interest among global corporates.
"This suggests they may be pricing in an overshoot," he said "It is more important than ever to communicate the need for business to be part of the solution.
"With Cop28 in Dubai approaching, ensuring business involvement in the climate conversation is more crucial than ever, as their participation increases the likelihood of success in addressing climate change.”
The research by East and Partners and Impact and Influence involved interviews conducted with 1,308 corporations across 14 countries.
Mohammed bin Zayed Majlis
Zayed Sustainability Prize
RESULTS
%3Cp%3E%0D5pm%3A%20Al%20Maha%20Stables%20%E2%80%93%20Maiden%20(PA)%20Dh80%2C000%20(Turf)%201%2C400m%0D%3Cbr%3EWinner%3A%20AF%20Alfahem%2C%20Tadhg%20O%E2%80%99Shea%20(jockey)%2C%20Ernst%20Oetrel%20(trainer)%0D%3Cbr%3E5.30pm%3A%20Al%20Anoud%20Stables%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%201%2C200m%0D%3Cbr%3EWinner%3A%20AF%20Musannef%2C%20Tadhg%20O%E2%80%99Shea%2C%20Ernst%20Oertel%0D%3Cbr%3E6pm%3A%20Wathba%20Stallions%20Cup%20%E2%80%93%20Handicap%20(PA)%20Dh70%2C000%20(T)%201%2C400m%0D%3Cbr%3EWinner%3A%20AF%20Rasam%2C%20Tadhg%20O%E2%80%99Shea%2C%20Ernst%20Oertel%0D%3Cbr%3E6.30pm%3A%20Arabian%20Triple%20Crown%20Round%202%20%E2%80%93%20Group%203%20(PA)%20Dh%20300%2C000%20(T)%202%2C200m%0D%3Cbr%3EWinner%3A%20Joe%20Star%2C%20Tadhg%20O%E2%80%99Shea%2C%20Helal%20Al%20Alawi%0D%3Cbr%3E7pm%3A%20Liwa%20Oasis%20%E2%80%93%20Group%202%20(PA)%20Dh300%2C000%20(T)%201%2C400m%0D%3Cbr%3EWinner%3A%20AF%20Alajaj%2C%20Tadhg%20O%E2%80%99Shea%2C%20Ernst%20Oertel%0D%3Cbr%3E7.30pm%3A%20Dames%20Stables%20%E2%80%93%20Handicap%20(TB)%20Dh80%2C000%20(T)%201%2C400m%0D%3Cbr%3EWinner%3A%20Silent%20Defense%2C%20Oscar%20Chavez%2C%20Rashed%20Bouresly%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
KILLING OF QASSEM SULEIMANI
Tax authority targets shisha levy evasion
The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.
Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".
The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.
He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.
"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.
As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.
OTHER IPL BOWLING RECORDS
Best bowling figures: 6-14 – Sohail Tanvir (for Rajasthan Royals against Chennai Super Kings in 2008)
Best average: 16.36 – Andrew Tye
Best economy rate: 6.53 – Sunil Narine
Best strike-rate: 12.83 – Andrew Tye
Best strike-rate in an innings: 1.50 – Suresh Raina (for Chennai Super Kings against Rajasthan Royals in 2011)
Most runs conceded in an innings: 70 – Basil Thampi (for Sunrisers Hyderabad against Royal Challengers Bangalore in 2018)
Most hat-tricks: 3 – Amit Mishra
Most dot-balls: 1,128 – Harbhajan Singh
Most maiden overs bowled: 14 – Praveen Kumar
Most four-wicket hauls: 6 – Sunil Narine
PROFILE OF CURE.FIT
Started: July 2016
Founders: Mukesh Bansal and Ankit Nagori
Based: Bangalore, India
Sector: Health & wellness
Size: 500 employees
Investment: $250 million
Investors: Accel, Oaktree Capital (US); Chiratae Ventures, Epiq Capital, Innoven Capital, Kalaari Capital, Kotak Mahindra Bank, Piramal Group’s Anand Piramal, Pratithi Investment Trust, Ratan Tata (India); and Unilever Ventures (Unilever’s global venture capital arm)
Killing of Qassem Suleimani
More on animal trafficking
More coverage from the Future Forum
