Following day five of COP28, GlobalData Thematic Intelligence analysts offer their views:

Thomas Pothalingam, Analyst, Thematic Intelligence at GlobalData, offers his view:

“Transparency and accessibility are paramount for effective climate interventions and tackling the growing impacts of climate change on the most vulnerable communities. COP28’s Global Stocktake and Climate Accountability: Unlocking Finance and Action event emphasized civil society’s role in guiding governmental and private sector actions. Committing the private and civil sectors to joint efforts covering all aspects of the climate change conversation, from emissions reduction strategies to risk management and goal setting, will produce the most effective and meaningful results.

“Empowering companies to lead by example” was the message at the talk, led collaboratively by sustainability reporting companies CDP and the Carbon Tracker Initiative, alongside the anti-corruption organization Transparency International. The private sector can demonstrate its commitment to mitigating climate change by recognizing the opportunities inherent in the green transition and setting ambitious emissions reduction goals. Nevertheless, the accountability process will continue to be guided by civil society.”

Aisha U-K Umaru, Analyst, Thematic Intelligence at GlobalData, offers her view:

“The inextricable link between finance and sustainability was a key focus of COP28’s finance day. In addition to climate finance being a main topic (with $270 billion pledged by UAE banks), accountability in carbon commitments was also an important method of progress highlighted by John Kerry, US Special Presidential Envoy for Climate Change. Governments must take meaningful steps to ensure carbon reporting and follow through to show that profit does not supersede sustainability and finance can be a vital tool in enabling change.”

Amalia Maiden, Analyst, Thematic Intelligence at GlobalData, offers her view:

“Strong trade agreements and policies are essential in distributing low-carbon technology to all nations. The focus should be on putting people at the center of sustainable development and considering how global trade can empower developing countries in their decarbonization journey without hindering economic growth. A global, united effort will be needed to achieve the Paris Agreement targets. No country can achieve this alone.”

Emma Sturdee and Hugo Shapero, Associate Analysts, Thematic Intelligence at GlobalData, offer their view:

“Generative AI would significantly benefit the development of regenerative agriculture. It enables precision agriculture and plant breeding and also helps farmers tackle some of the negative effects of climate change, such as climate volatility. Connectivity access will be key to the digitalization of agriculture and must not be overlooked for the realization of the fourth agricultural revolution.”