Leaders from philanthropy, development, and business will meet at COP28 in the UAE for a first-of-its-kind forum to explore ways in which the private sector can help to achieve net-zero emissions, support climate adaptation, reverse nature loss, and restore biodiversity. The two-day event - taking place on the sidelines of the main climate negotiations - is hoping to attract as many as 500 executive level delegates from around the globe to discuss strategies for bringing the annual financing gap of over three trillion US dollars required to tackle the effects of climate change.
The Business & Philanthropy Climate Forum (BPCF) is being hosted by the COP28 Presidency as part of a push to accelerate climate action through cross-sectoral partnerships and collaboration. It will be chaired by COP28 Special Representative for Business and Philanthropy, Badr Jafar, an Emirati philanthropist, who also serves on the COP28 Advisory Committee.
“The private sector holds the greatest promise to accelerate the accomplishment of our climate and nature global goals, which is why COP28 will ensure business and philanthropy are embraced as critical partners,” Jafar explained.
A number of international agencies, development banks, and networks are partnering with COP28 to take part in the forum. These include: the International Finance Corporation (IFC); the Organisation for Economic Co-Operation and Development – Network of Foundations Working for Development (OECD-NetFWD); the World Economic Forum’s – Giving to Amplify Earth Action (GAEA); the Asian Development Bank; the Africa Finance Corporation; the Bill & Melinda Gates Foundation (BMGF); and XPRIZE.