World Leaders are set to plan a course of action on reducing emissions and saving livelihoods during the 28th United Nations (UN) Convention on Climate Change.
According to Robert Mukiza, the Director General of Uganda Investment Authority (UIA), the authority will participate in the 28th conference of the parties to the United Nations framework convention on climate change in the United Arab Emirates (UAE) at Expo City Dubai.
Mukiza said that, the conference which is scheduled to take place from November 30th to December 12, 2023, brings together World leaders, policy makers and influencers to address the pressing challenges of climate change.
“We will run an aggressive promotional drive during COP28 to generate US$ 4 billion in climate linked investment deals and pursue future leads in renewable energy, energy efficiency, sustainable agriculture, waste management, recycling and green infrastructure,” Mukiza said.
He noted that, as a statutory Authority, UIA is charged with making provisions for scarce and non-renewable natural resources like minerals, water and wildlife by attracting technology, skills and investment for their prudent use in line with government policies, laws and international obligations.
The United Nations framework convention on climate change (UNFCCC) is a multilateral treaty adopted in 1992 shortly after the first assessment report by the Intergovernmental Panel on Climate Change (IPCC) in 1990 to stabilize greenhouse gas concentrations at a level that would prevent dangerous anthropogenic interference with the climate system was released.
Since entering into force in 1994, the UNFCCC has provided the basis for international climate negotiations, including land mark agreements such as the Kyoto Protocol (1997) and the Paris agreement (2015).
With global temperatures hitting record highs and extreme weather conditions affecting people around the globe, this year’s UN Climate Change Conference (COP28) is a pivotal opportunity to correct course and accelerate action to tackle the climate crisis.
COP28 is where the world will see the progress of the Paris agreement, the landmark climate treaty signed in 2015 and chart a course of action to reduce emissions and protect lives and livelihoods.
Simon Stiell, the Executive secretary of UN Climate Change said that a new report from UN Climate Change showed that national climate action plans remain insufficient to limit global temperature rise to 1.5 degrees Celsius.
“Today’s report shows that governments combined are taking baby steps to avert the climate crisis. This shows why governments must make bold strides forward at COP28 in Dubai to get on track,” Stiell said.
At COP28, governments will be called on to phase out fossil fuels, halt deforestation and scale up renewable energy.
