The theme on Wednesday, December 6th was Multilevel Action, Urbanisation and Built Environment, Transport. RES Foundation attended multiple events and meetings, including Near-term Energy Sector Decarbonization Opportunities, The Power of Progress: Understanding the Role of Financial Institutions in Portfolio Decarbonization, A Blueprint for Decarbonising the Built Environment, and the COP Presidency’s Open Dialogue with Parties and NGO Constituencies.

During the Open Dialogue, a representative of the ENGO Constituency (environmental NGOs) noted that “There is a lot of pressure being placed on developing countries to have the energy transition, but there is not much talk and then commitments made about how they (Global North) will support those transitions in the Global South… We can’t maintain the inevitability to the next COP and the next COP… We have to recognise the challenges and we put in place mechanisms to deal with those challenges”.

Decarbonisation took center stage at many events, with suggestions from industry experts, policymakers, civil society, and other stakeholders on which direction should be taken in specific contexts, both in the Global North and in the Global South. Investing in new technology emerged as another theme, especially in urbanisation. 

Panels “Near-term energy sector decarbonization opportunities”
In the near-term, “low-hanging fruit” climate solutions can drive emissions down rapidly and at a relatively low cost. In particular, slashing methane emissions from oil and gas operations is a necessity for attaining net-zero emissions by midcentury, and is achievable and cost-effective. Additionally, there is an opportunity to seize on trends in the electricity and transportation sectors, as well as in industry, that are seeing declining costs of low-carbon energy sources, and to provide an enabling environment for their rapid deployment. How can the oil and gas sector reduce methane emissions to near zero? What actions or policies will remove barriers to the most effective climate solutions?
Organiser: Atlantic Council

Discussion & Debates “Closing the gap: New strategies to deploy climate capital I A COP28 event hosted by the Milken Institute and Mubadala Investment Company
To accelerate deployment of public and private capital to support climate finance and effective energy transition, the race is on to find new mechanisms to move at the speed we need. These debates aim for a look at enhanced strategies for ambitious action on deploying capital to meet the climate crisis, including co-financing efforts linking mitigation and adaptation.

Discussion & Debates “A blueprint for decarbonizing the built environment”  
This presentation featured a panel discussion with influential climate leaders in the construction and built environment sector. They explore key themes and opportunities for a sustainable society and will see them explore how best to shape this vital industry for a greener future.
Organiser: Deep Climate Tech Labs – NEXUS