COP28 Episode One
Business and Philanthropy Forum: A need for collaborative action
The Sustainable Markets Initiative hosted a Business and Philanthropy Forum at COP28, emphasising the urgent need for collaborative action on climate change. Throughout Day 1, speakers highlight the necessity for integrated efforts across governments, businesses, and philanthropic entities to address environmental challenges effectively.
To open the event, HRH King Charles III underscores the urgency by noting that future generations live with the outcomes of today’s actions or inactions. TV presenter and SMI host Bear Grylls stresses that responsibility should not rest solely with governments or wealthy philanthropists, but should involve everyone working together to implement change.
The forum spotlights the significance of convening diverse perspectives. Dr Jennifer Holmgren points out the importance of bringing together those developing new technologies, finance experts, and communicators to solve climate issues. A key outcome anticipated from COP28, as mentioned by Tim Wainwright, is tangible progress leading to concrete actions—exemplified by the collaboration between companies like Pepsi and Coke on water resilience solutions.
Chief Perry Bellegarde emphasises the importance of including Indigenous voices in decision-making processes. He suggests that companies incorporating Indigenous perspectives are better positioned for sustainable operations. Speakers also advocate for maintaining momentum to meet climate targets, with particular focus on the 1.5-degree goal.
Engagement at the leadership level is underscored by Sustainable Food Trust CEO Patrick Holden, who links the climate crisis to broader social and nature emergencies, calling for collective action. Aadith Moorthy discusses initiatives such as carbon credits to support farmers, while the Right Honourable Patricia Scotland KC highlights the financial challenge of achieving sustainable development goals. She emphasises the role of business innovation and capacity in bridging the funding gap.
We are left with a sense of unity and urgency as the speakers appeal to all sectors to collaborate in implementing sustainable solutions to combat climate change.
