BW Businessworld's Latest Issue Decodes The Shortcomings Of The COP28 UAE Consensus

BW Businessworld, in its latest issue dated December 30, 2023, captures the historic events at the United Nations Climate Conference, COP28, held in Dubai. The magazine highlights the monumental achievement of reaching a consensus on transitioning to green energy from fossil fuels, an unprecedented feat orchestrated by COP28 President Sultan Ahmed Al Jaber.

The COP28 summit witnessed 70,000 participants from 200 nations, converging to address the pressing climate crisis. The irony of oil and gas-rich UAE hosting a climate conference sparked conversations, but the summit's outcome showcased global collaboration for a sustainable future. The cover feature in this issue provides insights from summit participants, expert opinions, and reports from BW Businessworld.

Consensus on Green Energy

In India, both the government and private sector have been making significant strides in transitioning to green energy sources such as solar, hydel, and wind power. The COP28 commitments are expected to bolster these efforts. However, the financial implications of decarbonization and other energy system changes are substantial, with estimates reaching $4.3 trillion per year until 2030 and $5 trillion annually thereafter until 2050. The issue raises questions about funding the Loss and Damage Fund proposed at COP28, particularly for developing nations like India and the lack of a missing blueprint on funding the transition away from fossil fuels.

Sustainability Champions 

In addition to this, BW Businessworld recognizes and applauds the sustainability initiatives of Indian corporate entities and start-ups in its inaugural Sustainable World Awards. The awards were presented at the fifth edition of the Sustainable World Conclave in Mumbai, celebrating champions of sustainability in India. The magazine features stories of businesses excelling in sustainability, circular economy practices, and green infrastructure.

In the ‘Last Word’ column, N. Venu, MD & CEO, India & South Asia for Hitachi Energy highlights the unequal distribution of emissions, emphasising the need for nuanced strategies in goal-setting, financing, and technology adoption. He stresses the importance of fast, flexible finance to aid developing countries in transitioning to low-carbon economies, estimating the need for substantial investments.

The latest issue is now available for readers, offering comprehensive coverage and analysis of critical developments in the realms of climate action and sustainable business practices.

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About BW Businessworld

BW Businessworld, with its 43 years of legacy, is the fastest growing 360 degree business media house in India. With a network spanning across 23 niche business communities and 10 magazines, BW Businessworld is proud to be entrenched in various verticals in the domestic as well as global business, that organize conferences and forums to facilitate interaction between sectoral business leaders and create a conducive environment for collaboration. All BW issues are also fully digitally covered, including online stories and video stories and eMagazine is also available for every issue.