• The alliance of Masdar, Tencent and Catalyst aims to bring together climate technology innovators, investors, policymakers, philanthropists and other stakeholders to accelerate innovation and deploy climate technology solutions at scale.
• The alliance aims to enhance cooperation between stakeholders, support the climate technology innovation system globally, and focus on the countries of the Global South
• 'Innovation for Climate Technology' will build on the success of Masdar City's 'Innovate' initiative to support climate tech startups and showcase their solutions and innovations
• The alliance will unveil the launch of a global digital platform duringCOP28 to enable the creation of a global online community of key climate technology players to enhance collaboration, provide access to knowledge and spur further innovations
• The Alliance strengthensCOP28 's efforts to build and scale the climate technology ecosystem and continue to highlight the activities of the Allies and accelerate their initiatives
The COP28 Presidency has announced the facilitation of the establishment of a climate alliance to strengthen the global climate technology ecosystem, called "Innovation for Climate Technology", which aims to support innovation and develop prospects and areas of cooperation in this field, while creating a scalable work environment and containing all actors within the value chain of innovation in climate action.
The alliance seeks to identify and highlight current and future initiatives to accelerate the growth of climate technology and create integrated ecosystems that support innovation and development in this field.
Commenting on the launch of the alliance, Adnan Amin, CEO of COP28, said: " The focus must be on the adoption of advanced climate technology on a large scale, as this will enable and benefit the communities most vulnerable to the effects of climate change, and to do this we need the cooperation of all stakeholders and the establishment of an appropriate system to achieve an orderly, responsible, fair and logical transition in the energy sector, which contributes to achieving climate neutrality."
"The launch of the Climate Technology Innovation Alliance, a global alliance of key climate technology actors from the public and private sectors, aligns with the COP28 Chair's call to develop solutions that support the pursuit of reducing emissions, enhancing climate change adaptation efforts, and global efforts to preserve the avoidability of global warming exceeding 1.5°C, and will promote, facilitate and apply technology for climate action, with a focus on the South. global".
The alliance was created with the primary support of Masdar City, a vibrant and growing cleantech community in Abu Dhabi, Tencent, a global leader in internet and technology, and Catalyst, a technology accelerator for startups based in Masdar City. The alliance also brings together a diverse group of climate technology stakeholders from around the world as partners in knowledge, programs, and others With the aim of innovating and promoting climate technology-based solutions.
Ahmed Baghoum, Chief Executive Officer of Masdar City, said: "I am delighted to announce that we have collaborated with Tencent and Catalyst to form the Innovation for Climate Technology Alliance, and Masdar City's vision has always been one of nurturing startups and SMEs in this field, and the 'Innovate' initiative has been a testament to our efforts to support pioneering climate technology solutions, while this alliance represents an important step to expand our collaboration with all actors to accelerate global climate action. I would like to express my deep gratitude for the efforts of the COP28 team and their contribution in facilitating this collaboration and providing the opportunity to be part of this impactful initiative."
Dr. Hao Xu, Vice President of Tencent and Head of the Tencent's Neutral Carbon Lab, said: "This alliance aligns with Tencent's goals to contribute to addressing climate change, as we seek to catalyze and connect technology actors, foster dialogue and collaboration among stakeholders, and support efforts to promote low-carbon and sustainable development, as part of our commitment to shaping a brighter and more sustainable future for all."
Alliance partners include the African Direct Investment Association (AVCA ), C3 , Climate Impact Capital , Cool Climate Collective , Crescent Enterprises and The Family Office. , Hub71, Shanghai Impact Center , LinkedIn, McKinsey Sustainability , Natural Ventures Alliance of Experts , Nedamco Africa, New Energy Nexus Foundation Non-profit, Plug & Play, Global Innovation Platform, Princeville Capital Investment Company , Riffle Ventures Investment Company,Schneider Electric International, Sheraa Entrepreneurship Center, Solar Impulse Foundation, Investment Alliance, Sustainable Impact Holding Company, and Venture Climate Alliance(VCA), and Venture Saudi Investment Market.
The alliance will unveil its firstCOP28 initiative, which aims to foster collaboration between climate technology innovators, investors, program and knowledge partners, and Innovation for Climate Technology will launch a global digital climate technology platform by Tencent, which will connect startups, venture capital, corporate, government entities, family business associations, research institutes, innovation institutions, universities, multilateral institutions, policymakers, and pioneers. The platform will contain a knowledge database of content on climate action, and provide tools to connect users with global climate technology programs.
The alliance will build on the success of Masdar City's 'Innovate' initiative in 2021 to support climate technology startups and showcase their solutions and innovations, and will increase the benefits offered by the 'Innovate' initiative, which allows alliance members to network and exchange experiences and insights on important events related to climate action, such as Abu Dhabi Sustainability Week.
The Alliance supportsCOP28's efforts to build and scale up the climate technology ecosystem and continue beyond the conference by highlighting the activities of the Allied entities and accelerating their initiatives by providing the right environment for launching projects. Those interested in learning more information can contact partnerships@innovateforclimatetech.org and innovation@cop28.com The website will be updated and the alliance's initiatives and activities will be regularly presented.
COP28 will take place in the UAE at Expo City Dubai, from 30 November to 12 December 2023, during which time will see final negotiations between the concerned parties, with the aim of reaching consensus and agreeing on a clear roadmap to accelerate progress across all topics of climate action, based on the COP8 Presidency Action Plan. It is based on four pillars: accelerating an orderly, responsible, equitable and logical transition in the energy sector, developing climate finance mechanisms, protecting people and nature, improving lives and livelihoods, and supporting the previous pillars by fully including everyone in the conference ecosystem.
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