COP28 Namibian pavilion: powering progress with nature

In the inaugural session of COP28, Namibian House strategically delved into sustainable financing, unravelling financial mechanisms aligned with environmental and social justice goals. This imperative for a just energy transition was underscored, emphasizing how embracing sustainable energy not only mitigates risks but ensures fair access, fostering long-term economic and social well-being.

The second session, hosted by RMB Namibia & Capricorn Group, unfolded an exciting afternoon at the Namibian House. The sustainable financing panel unveiled a roadmap for sustainability and global ESG standards compliance, prioritizing sustainable financing and recommending adherence to ESG best practices for a successful energy transition.

Empowering women globally was the emphatic focus of the third session, “Alliances for Women’s Empowerment: Experiences from the Global South,” powered by South South North. This strategic panel stressed the vital role of alliances, recommending cross-sector collaboration, knowledge sharing, global-local integration, mentorship, financial inclusion, advocacy networks, technology for digital inclusion, cultural sensitivity, and robust monitoring for impactful, youth-engaging initiatives, aligning with COP28’s theme of inclusivity and sustainability.

In the fourth session, Namibia’s Green Hydrogen Revolution took center stage, strategically addressing challenges in investment attraction and retention. The discourse tackled hesitance from companies regionally and internationally, offering strategic insights to overcome  barriers. This crucial platform aimed at unravelling the potential of Namibia’s Green Hydrogen journey underscored strategies to
attract and retain investment, propelling Namibia towards a sustainable and investment-friendly green hydrogen landscape.

COP28 ANNOUNCEMENTS:

In a resounding global display, COP28 secured an extraordinary $57 billion commitment in its first four days, showcasing a decisive leap into a new era of climate action. This collective effort, driven by governments, businesses, investors, and philanthropies, highlights a shared determination to address urgent climate challenges.

The ground-breaking $57 billion mobilized in the initial four days of COP28 signals a paradigm shift in climate action. The presidency achieved historic milestones, adopting the agenda on day one and securing a breakthrough agreement on Loss and Damage. Dr. Sultan Al Jaber, COP28 President, emphasizes a commitment to science, aiming for a 43% emissions reduction by 2030. Noteworthy achievements include a $30 billion UAE catalytic fund, a $9 billion annual commitment from the World Bank, and global declarations on health and food systems. The inclusive approach fosters momentum and optimism for a climate-resilient future.

Trillion-Dollar Pledge:

During the Global Action to Foster Sustainable Finance panel, the UAE financial sector announced a monumental commitment of AED 1 trillion, aiming to expedite sustainable finance initiatives and propel climate action forward.

COP28 Gender Equality Day:

COP28’s Gender Equality Day marked a pivotal moment with the unveiling of the COP28 GenderResponsive Just Transitions & Climate Action Partnership. Endorsed by over 60 parties, this partnership focuses on data, finance, and equal opportunities, outlining commitments for the next three years, with a review slated for COP31.

The dialogue emphasized the disproportionate impact of climate change on women, with a commitment to supporting women’s economic empowerment and safeguarding livelihoods. The partnership aligns with the UNFCCC Gender Action Plan, targeting data quality, finance efficiency, and education for better transition engagement.

COP28 Finance Day:

COP28 Finance Day witnessed transformative strides in global climate finance, with key commitments from the UK, France, World Bank, IDB, EIB, EBRD, and AfDB. Seventy-three nations unite to amplify Climate-Resilient Debt Clauses (CRDCs) by 2025, enabling fiscal space for climate action. Pledges from Japan and France support AfDB’s innovative SDR facility. The event marks significant progress in
reforming the climate finance architecture, aligning with COP28 UAE Declaration’s vision for accessible and affordable climate finance.
Multilateral Development

At COP28, Multilateral Development Banks (MDBs) unveiled commitments exceeding $180 billion in climate finance. The World Bank pledged to elevate its climate finance target to 45% by 2025, unlocking an additional $9 billion annually. The IDB tripled its climate lending goal to $150 billion over the next decade. Jointly, MDBs introduced a unified approach for reporting climate results, launched a Long-Term Strategy facility, and established common principles for tracking nature-positive finance.

These commitments align with the COP28 UAE Declaration’s vision.

Negotiations:

Namibia delegation is consistently participating in discussions and negotiations at COP28, aligning with its priorities and National Determined Contributions (NDCs). As part of the African Group of Negotiators, Namibia is emphasizing that sustainable development is a shared responsibility that we are committed to addressing collectively.