January 18, 2023

Anjali Bansal and Swapna Gupta spent 3rd-7th December at COP28, UAE, engaging in a variety of panels, discussions, and mixers. COP28 was a unique opportunity for a “Global Stocktake” of progress since the 2015 Paris Agreement, making it a unique and insightful event in multiple ways. From engaging discussions on climate resilience to collaborative initiatives shaping India’s sustainable future, each day unfolded with a tapestry of ideas and commitments. 

For the first time at COP, there was a Startup Pavilion where global funds like Breakthrough Energy had booths to showcase some of their portfolio companies. The idea that “technologies of the past cannot solve for tomorrow” was a key theme of this booth, emphasising the need to make focussed bets on technologies that will shape the future. It also became abundantly clear that the private sector will need to engage with regulators and governments to unlock investment and find innovative instruments to ensure that capital is allocated across various stakeholders solving for climate. One example of this is the creation of ALTERRA, a $30 billion fund for global climate solutions, out of which $6.5 billion has been allocated to climate-dedicated funds for global investments.

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