After COP28, what world needs is cutting-edge ‘climate-tech’ innovations

After COP28, what world needs is cutting-edge ‘climate-tech’ innovations

As COP28 concluded, the global community was left to ponder over the commitments made and the challenges that lie ahead.

The conference achieved a historic pledge to transition away from fossil fuels, aiming for Net Zero by 2050. It also highlighted the necessity for more advanced global strategies to combat climate change.

According to UNDP research, meeting the 1.5 degree centigrade target of the Paris Agreement requires a 40 per cent reduction in global greenhouse gas emissions by 2030, with a significant portion relying on technologies not yet commercially viable.

Faced with this, it’s crucial for governments – particularly those with significant convening power like the UAE – to pursue more ambitious strategies to facilitate worldwide innovation in climate technology. History shows that groundbreaking innovations flourish under conditions of clear, long-term policy commitments, supportive ecosystems for talent, and substantial financial support from leading entities.

These are crucial for accelerating the development and deployment of climate technologies, vital for achieving net-zero goals. All of these raise a critical question: how can such transformative innovation – potentially the most consequential of our generation – take root?

Financial infrastructure

A key element in fostering innovation, particularly in the field of climate technology, is