The COP28 Presidency has facilitated the founding of a local weather coalition to drive international local weather expertise ecosystems.
The founding of Innovate for Climate Tech will enhance innovation and strengthen ecosystems whereas making a welcoming and inclusive setting for local weather actors throughout the innovation worth chain.
Its goal is to determine and enlarge ongoing and future initiatives to speed up the expansion of local weather applied sciences and create ecosystems that help their improvement.
“The widespread adoption of cutting-edge technologies is critical to driving zero carbon growth and reaching global climate goals. We need all stakeholders to collaborate and establish an ecosystem for innovation and investment that can generate sustainable economic growth and employment. The launch of Innovate for Climate Tech, a global coalition of public and private climate tech ecosystem players, aligns with the COP28 Presidency’s call for the rapid development of solutions to accelerate global decarbonization and adaptation to climate change impacts. This is part of the COP28 commitment to keeping 1.5°C within reach and supporting the promotion, facilitation, and deployment of technologies of climate technologies, especially in the Global South,” stated Adnan Amin, CEO of COP28 UAE.
The initiative is anchored by Masdar City, a pioneering sustainable city group and innovation hub in Abu Dhabi , Tencent, a world-leading web and expertise firm, and Catalyst, a startup expertise accelerator additionally primarily based in Masdar City. In addition to these anchor companions, a numerous group of local weather expertise stakeholders from all over the world have joined the coalition as information, program, or roll-out companions to create an inclusive setting for collaboration to advance local weather options. These embrace The African Private Equity and Venture Capital Association (AVCA), C3 ( Companies Creating Change), Climate Impact Capital, Cool Climate Collective, Crescent Enterprises, The Emirates Family Office Association, Hub71, Impact Hub Shanghai, LinkedIn, McKinsey Sustainability, Natural Ventures, Nedamco Africa, New Energy Nexus, Plug and Play, Princeville Capital, Riffle Ventures, Schneider Electric, Sheraa, Solar Impulse Foundation, Sustainable Impact Capital & Holdings, Venture Climate Alliance (VCA) and VentureSouq.
The coalition will unveil its first initiative at COP28, which goals to unite local weather tech innovators, buyers, program and information companions. T he coalition will launch a worldwide digital local weather expertise platform by Tencent which is able to join startups, enterprise capitalists, companies, governments, household places of work, analysis institutes, philanthropies, innovation entities, universities, and multilaterals. It additionally has a information database for curated content material, and a platform board to introduce customers to international local weather tech applications.
Dr. Hao Xu, Vice President of Tencent and Head of Tencent’s Carbon Neutrality Lab, stated: “It is aligned with Tencent’s mission of contributing to climate change. At Tencent, we aim to play connector and catalyst roles to accelerate the speed and scale of frontier technologies. In addition to fostering dialogue and unity among stakeholders, we champion the transition to a sustainable, low-carbon society. We are dedicated to shaping a brighter and more sustainable future for everyone.”
The coalition can even construct on the success of Masdar City’s Innovate, an initiative launched in 2021 to help startups and assist them showcase their work. The Innovate platform’s choices will likely be expanded to present coalition members with alternatives for networking and connection-building at occasions essential to the local weather motion dialogue, corresponding to Abu Dhabi Sustainability Week, to enhance the visibility of sensible and essential local weather options.
Ahmed Baghoum, CEO of Masdar City, stated, “I am extremely pleased to announce our collaboration with Tencent and Catalyst in forming the Innovate for Climate Tech coalition. It has always been Masdar City’s ethos to nurture startups and SMEs in this domain. Our Innovate initiative has been a testament to our dedication to supporting pioneering climate-tech solutions, and this coalition marks a significant step to scale our ongoing efforts and work together to accelerate global climate action. I extend our heartfelt gratitude to COP28 for facilitating this collaboration and for providing us with the opportunity to be part of such an impactful initiative.”
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The coalition strengthens COP28’s efforts to enhance the worldwide local weather tech ecosystem and can proceed past the two-week convention by offering a big launching floor for increasing the work of its members. Interested events are welcome to attain out to partnerships@innovateforclimatetech.org and innovation@cop28.com The coalition will frequently replace its web site , a house base for any deliberate initiatives aligned with its ethos.
COP28 will start on 30 November within the UAE with two weeks of negotiations, opening with commitments from international leaders, bringing ahead options, and concluding with an agreed-negotiated textual content that helps course-correct to maintain 1.5°C inside attain and improve international resilience. The Presidency’s key focus areas are fast-tracking the power transition and slashing emissions earlier than 2030; reworking local weather finance by delivering on outdated guarantees and setting the framework for a brand new deal on finance; placing nature, folks’s lives, and livelihoods on the coronary heart of local weather motion; and mobilizing for probably the most inclusive COP ever.
To study extra, please go to: www.innovateforclimatetech.org
