Finance Highlights

The finance-themed day at COP 28 showcased several significant announcements and developments. Notably, a total of $57 billion has been mobilized in the first four days, with a focus on finance for loss and damage and the Global Climate Fund. Additionally, a collaboration between the Nature Conservancy and the Global Renewables Alliance aims to develop a strategy for a nature-positive future that relies on renewable energy. Furthermore, new guidelines on sustainability-linked sovereign financing for nature were outlined to provide solutions for vulnerable countries. However, the COP presidency's conflicting statements on fossil fuel phase-out have raised concerns and sparked controversy.