COP28 Day 4 Nature
World religious leaders, scientists and global political officials came together for the inauguration of the first-ever Faith Pavilion at a COP, on the fourth day of COP28, to discuss the role of faith communities and religious institutions in addressing the climate crisis.
The pope was unable to travel to the conference but gave a speech by video.
Nature Initiatives at the World Climate Action Summit (WCAS).
USD $1.7 billion of finance committed to meet climate and biodiversity goals.
$250 million of new finance under the Ocean Resilience Climate Alliance (ORCA), targeting protection for vulnerable marine areas, ocean-based mitigation efforts, and research on climate impacts.
Three forest finance packages including USD $100 million for Papua New Guinea, USD $60 million Democratic Republic of Congo and USD $50 million for the Republic of Congo to drive private finance of conservation and local development through verifiable carbon credit transactions.
Addressing nature-loss can save USD $104 billion in adaptation costs and has the potential to provide upwards of 30percent of the CO2 mitigation action needed by 2030. Additionally, as around 50 percent of global GDP is directly or indirectly dependent on nature and other ecosystem services, the conservation and restoration of natural ecosystems supports economic prosperity, with the potential to create nearly 395 billion more jobs and to protect 1 billion people whose livelihoods are directly dependent on nature.
Summary of Initiatives from today:
Enteric Fermentation R&D Accelerator
($250 million in money to reduce methane emissions from livestock). No detail about how. Maybe they are going to genetically engineer cows with Kangaroo DNA to stop them farting!
The Data for Methane Action Campaign.
($100 million to reduce methane)
Join the Planet
A global movement to repurpose discarded materials into valuable products and reusing them to fund initiatives around the world that can protect, restore and regenerate natural ecosystems through work with local communities.
First Movers Coalition
(road map for supplying near zero Aluminium.) The production of Aluminium takes huge amounts of energy especially as huge amounts of electricity is requires to extract it by electrolysis from its ore.
Declaration on Climate, Relief, Recovery and Peace.
This is a focus on accelerating global efforts to make fragile and conflicted-affected countries and communities more resilient to the impacts of climate change. This has been endorsed by 70 governments.
Health for Climate
Leaders committed to pushing for ambitious Net Zero targets across healthcare system supply chains. The health impact of climate change will include more cases of heat stress, infectious diseases, and malnutrition. COP28 Declaration on Climate and Health was endorsed by over 120 countries and over $1 billion financing.
Nature Positive for Climate Action
a call to action to contribute to a whole-of-economy approach to transforming economy/society to meet climate and nature goals
The Indigenous Peoples Initiative
a call to action to provide direct financing for Indigenous Peoples and organizations, to join forces in protecting and restoring nature and biodiversity.
ONE AMAZON & ONE AMAZON Impact Fund
Aim to have one trillion dollars to preserve the Amazon rainforest.
New Funding on Super Pollutants
$450 million dollars to help countries have economies that use non greenhouse gases.
Getting Ahead of Disasters Charter sets out principles for collaborative action to manage climate-related risks and protect vulnerable populations.
Early Warnings for All, Mobilized new support for the initiative to cover 100% of the globe with early warning systems by 2027.