Cop

• The statement also reiterated the COP28 Presidency and UNFCCC's shared vision to ensure that voices from all backgrounds are heard and acknowledged.
• ABU DHABI, UAE, Aug. 1, 2023 /PRNewswire/ -- The COP28 Presidency and the United Nations Framework Convention on Climate Change (UNFCCC) have officially signed the Host Country Agreement, strengthening their joint commitment to inclusivity and transparency at COP28 that fosters solidarity and transformative progress across the climate agenda.
• The COP28 Presidency believes inclusivity is a critical enabler to achieving transformative progress across the climate agenda.
• As mandated by the Paris Climate Agreement, COP28 UAE will deliver the first ever Global Stocktake – a comprehensive evaluation of progress against climate goals.

• The deficit of trust is colossal.
• Each year the scale and complexity of annual Conference of the Parties (COP), organised under the umbrella of the United Nations Framework Convention on Climate Change, increases.
• The fact that after 27 COPs the world is still not demonstrating tangible climate action is contributing to growing frustration.
• Whether or how we achieve this will require sensitive and deft political negotiation – both in the lead-up to, and at, the COP28.

Legitimacy

• When stakeholders question whether COPs are nothing more than a talk-shop, doubt their legitimacy, or denounce their transparency, we can rightfully learn from these criticisms and make the system more robust.
• But the way in which we express views must be respectful of governing processes and sensitive to the fragile web of relations the system depends.

The money

• Finance is likely to take centre stage again at the negotiations, or at least it should.
• There are expectations that, for the first time, the Green Fund’s yearly $100 billion target will be reached.
• It is also why a lot of attention will be devoted to the outcome of a number of key meetings:


Developing countries need to coordinate their positions for these
various high-level gatherings. This is what happened through the political momentum achieved by the G77 + China around loss and damage finance last year.

Options on the table

• African focus should also be on scaling the quantum of funding for the transition and for adaptation and resilience, and the role that state owned entities and the private sector can play.
• But many options have already been put on the table for COP28.
• These include include Just Transition Plans and associated finance packages, carbon pricing, and, more controversially, targets and fossil fuel phase outs.

• The COP28 Presidency and the Youth Climate Champion are committed to supporting and enabling greater access for youth especially from underrepresented communities through key initiatives such as the International Youth Climate Delegates Program."
• The COP28 International Youth Climate Delegate Program recognizes that youth have a pivotal role to play in the success of COP28 and climate progress," said COP28 Youth Climate Champion Al Mazrui.
• The COP28 Presidency have also selected the first International Youth Climate Delegate Program (International YCDP) cohort of 100 youth delegates, representing the world's least-developed countries, small island developing states, Indigenous Peoples, and minority groups.
• Six youth delegates from the International YCDP and three from the UAE Youth Climate Delegate Program participated in the SB58 as party observers.

• On April 20, 2023, KBRA assigned a AAA rating, with a Stable Outlook to the State of Wisconsin’s (the State’s) General Obligation (G.O.)
• Concurrently, KBRA affirmed the long-term AAA rating with a Stable Outlook on outstanding G.O.
• Extendible Municipal Commercial Paper (EMCP) Program; and the long-term AA+ rating with a Stable Outlook on outstanding Master Lease Certificates of Participation (COPs).
• Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com .