COP28 - Climate Hub for Businesses
From November 30 to December 12, world leaders, policymakers, activists, and corporations gathered in Dubai for the twenty-eighth annual United Nations Conference of Parties (COP28). The centerpiece of COP28 promised to be the Global Stocktake (GST), an assessment process designed to evaluate global progress towards achieving the climate goals established by the 2015 Paris Agreement that concludes at COP28.
Covington lawyers have participated in many prior COPs, both in their former positions as government officials and as current advisors and counsel to a range of corporate clients on ESG matters. We are proud to continue that active COP engagement, with a number of Covington’s ESG lawyers from our offices across Europe and the U.S. who attended COP28, joining our Dubai-based colleagues, where they spoke on a range of current climate matters. Our COP28 team organized and facilitated a series of tailored discussions amongst corporate, government, and civil society leaders focused on how to achieve near-term climate commitments aligned with COP28 goals. In particular, our ESG experts engaged with corporate officials on such current ESG developments and challenges as meeting new multi-jurisdictional mandatory reporting guidelines, successfully implementing corporate carbon management and climate commitments, tapping new sources of international finance to spur the energy transition, including the IRA, and mitigating the potential for greenwashing claims and climate litigation. The Covington team also provided regular reports from COP28 to keep clients informed of key developments, which can be found below.
Our multidisciplinary delegation included leaders of Covington’s ESG, Environment, Energy, Project Development and Finance, Corporate, and Public Policy practices, as well as our unique Climate Mitigation and Carbon Management (CM2) initiative. Our comprehensive and integrated global team stands ready to assist clients successfully implement ESG corporate policies aligned with COP28 goals.
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