COP28 delivered 10 meaningful pledges, including three on the energy transition and the first-ever pledge on food systems transformation. Commitments were concretized across mitigation, adaptation, and loss and damage, but the gap to finance the energy transition in developing countries remains large.

The dual challenge of energy supply and climate change proved the most contentious to address, and parties made a last-hour breakthrough to include fossil fuel transition in the final text for the first time. COP28 also saw the highest-ever attendance by global CEOs, underscoring the role of business in driving climate outcomes.

This report contains our key takeaways from COP28 and the implications for corporations around the world.

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Bain @ COP29

We’re attending the 29th annual UN Climate Change Conference of the Parties (COP29), from 11-22 November in Azerbaijan, where we’ll partner with visionary leaders from around the world to shape a sustainable future.