Spotlight on COP28

Tune into our COP Talks podcast series, where we explore the most pertinent topics related to COP and delve into the crucial role of ESG in addressing the pressing environmental challenges facing our planet.

Towards Net Zero:

COP28’s Call to Action for Corporates

In our COP talks series, we explore the most pertinent talking points related to COP and delve into the crucial role of ESG in addressing the pressing environmental challenges facing our planet.

In this episode of COP Talks insights Francis Patalong, Senior Counsel at Al Tamimi & Company, and Simon Pickup, Managing Director of Anthesis Middle East, discuss the growing momentum of ESG adoption globally.
They highlight how this heightened awareness of the climate and biodiversity emergencies has spurred governments and corporations alike to recognize the urgency of addressing these critical issues and adopt responsible and sustainable practices.

Myles Tatlock, Principal Consultant at Climate, Anthesis Group share his expertise on the interconnectedness between global financial institutions and their growing concern regarding the potential impacts of climate change on their portfolios. He delves into the challenges of understanding climate-related risks, emphasizing the need for institutions to assess and prepare for worst-case scenarios with profound financial implications.

🎙 Listen to the full conversation below or here

Decoding ESG Report & Sustainability:

An Expert’s Perspective

In this second episode of COP Talks, Francis Patalong, Senior Counsel at Al Tamimi & Company, dives deep into the realms of ESG and Sustainability with Gihan M Hyde.
A renowned figure, celebrated as LinkedIn's Top ESG Voice and the visionary founder of CommUnique, Gihan brings a wealth of expertise and passion to the table.

With the rapidly growing momentum of ESG, Gihan demystifies its essence providing a clear distinction between sustainability and ESG.
The recent rise in environmental concerns and the ever-increasing demand for sustainable products have urged majority to embrace the ESG movement.
While each country adapts ESG they also have unique regulations and reporting mechanisms to disclose ESG commitments and performance, Francis and Gihan explores why this is the case.

As the conversation unfolds, the spotlight is turned towards the critical question: How can both individuals and organizations embark on their own ESG journey?
The duo also talk about the potential outcomes of COP28, shedding light on the global impact of ESG in shaping a sustainable future for our planet.

🎙 Listen to the full conversation below or here

The Chancery Lane Project:

Hardwiring Net Zero

In the 3rd episode of COP Talks, our Senior Counsel, Francis Patalong, hosts Becky Annison, Director of Engagement at the Chancery Lane Project. They delve into Climate Contracting and The Chancery Lane Project, addressing its essence and growing significance.

Becky talks about how the corporate environmental targets, although often expressed as promises, lack the necessary legal enforcement. By including the targets as integral contract clauses they transform from mere aspirations into legally binding commitments, thereby gaining the force of law.

To address the urgency of the climate crisis, the Chancery Lane Project emerges as a crucial platform. It brings together legal professionals from diverse backgrounds to collaborate on formulating a range of contract clauses.

There are over 138 published clauses designed to address various aspects of environmental responsibility, thereby contributing to the collective efforts to mitigate the climate crisis.

Becky also highlights the importance of educating stakeholders about Climate Contracting. Familiarity with including such clauses in contracts propels progress towards addressing the climate emergency.

Looking forward to COP28, Becky envisions the normalization of climate contracting as a desired outcome. For deeper insights about the role of corporates in achieving net-zero goals and more, tune in here.

🎙 Listen to the full conversation below or here

Shaping tomorrow's energy:

UAE's net zero vision and decarbonisation strategy on the road to COP 28

In the fourth episode of COP Talks, ESG Consultant Hamza Al Haboubi and Sustainability and Climate Change VP Fazil Abdul Rahma embark on a comprehensive exploration of the United Arab Emirates' (UAE) remarkable vision for a sustainable future.

This insightful episode delves into the UAE's resolute commitment to achieving net-zero emissions and outlines its robust decarbonisation strategy on the road to COP28.

Hamza and Fazil provide a deep dive into the UAE's ambitious targets, innovative initiatives, and ground-breaking projects that are steering the nation toward a sustainable future.

This includes a closer look at the UAE's net zero 2050 strategic initiative and the global stock take, a pivotal assessment evaluating progress in line with the Paris Agreement's goals and the global goal on adaptation.

As the world approaches COP28, this episode underscores the growing sense of urgency surrounding achieving net-zero emissions and highlights the UAE's proactive role in driving this essential change.

🎙 Listen to the full conversation below or here

Banking on sustainability:

UAE's net zero drive and the vital role ahead at COP28

Our COP Talks series is a platform for insightful conversations that spotlight the key topics ahead of COP28 UAE.

This episode of COP Talks, Hamza Al-Haboubi, our ESG Consultant, engages in a conversation with special guest Vijay Bains, Chief Sustainability Officer from Emirates NBD. Together, they unravel the essential connection between finance and sustainability, with a focus on COP28.

COP28 stands as a beacon of hope, uniting global leaders and communities in the fight against climate change. This event serves as a catalyst, inspiring governments, NGOs, and citizens to collaborate for a greener future, and Hamza and Vijay shed light on Emirates NBD's proactive initiatives. From tailored financial solutions to impactful collaborations, Emirates NBD is committed to sustainable banking practices.

Through clear and comprehensive communication, rigorous employee training in green financing, and active partnerships with stakeholders, Emirates NBD emerges as an unwavering ally, dedicated to realizing sustainable financial goals.

Tune in to COP Talks and gain valuable insights into the simple yet powerful intersection of finance and sustainability.

🎙 Listen to the full conversation below or here

Resolving Environmental Disputes through Mediation

In this sixth episode of COP Talks, we embark on a journey into the world of resolving environmental conflicts through the power of mediation. In this insightful episode, we are joined by Senior Associate, Khushboo Shahdadpuri and Paul Sills, an esteemed Arbitrator and Mediator from Arbitra.

Environmental disputes stand apart in their own league. Unlike other discussions surrounding ESG topics, these conflicts possess unique qualities that distinguish them. From the pressing concerns of water shortages to the devastating impact of wildfires, the sheer scale of these issues commands our immediate attention.

As an increasing number of individuals and communities take action, we also examine the legal system's approach to handling these environmental issues as major corporations operating in industries like oil and gas find themselves confronted with challenges regarding their operational practices and the utilisation of fossil fuels. This prompts a significant question: Is mediation a viable option for addressing and resolving these complex and critical environmental disputes?

Join us as we explore this question and delve into the nuances of mediation as a potential solution in the ongoing battle to address environmental challenges.

🎙 Listen to the full conversation below or here

Regional Survey of Net-Zero Initiatives

In this episode of COP Talks, titled "Regional Survey of Net-Zero Initiatives," our Senior Counsel, Francis Patalong, is joined by Julian Roche, an Economist & Financial Trainer from Cavendish Maxwell, as they delve into the dynamic landscape of climate action. The focal point of this episode is the pursuit of net-zero emissions, and the various strategies nations are employing to achieve this ambitious goal.

The MENA region takes centre stage in this discussion, particularly with the United Arab Emirates (UAE) leading the way. With a resolute commitment, the UAE has set a target of achieving net-zero

emissions by the year 2050. This ambitious goal reflects a comprehensive strategy to not only mitigate the adverse impacts of climate change but also to spearhead a transition towards sustainable and eco-friendly practices.

Join the conversation by tuning into this podcast where Francis and Julian meticulously analyse the intricacies of net-zero initiatives. Gain insights into the strategies steering the global fight against climate change.

🎙 Listen to the full conversation below or here

Climate Change and The Antarctic Perspective

In the eighth episode of COP Talks, our Senior Counsel, Francis Patalong is joined by Dr Ella Gilbert, a distinguished Regional Climate Modeller from the British Antarctic Survey, as they delve deeply into a profound exploration of Climate Change and the Antarctic perspective.

During this podcast, Francis and Dr Ella discuss various pressing issues, including the key concern of rising sea levels and the overall warming of the planet by 1.2 degrees. Drawing on her expertise, Dr Ella Gilbert offers invaluable insights into the

distinctive challenges faced by the Antarctic ecosystem and the various complexities involved in addressing climate change in one of the Earth's most critical and vulnerable regions.

Tune in to hear how Francis and Dr Ella navigate through the intricate web of climate dynamics, offering an understanding of the issues at hand and the potential solutions that can protect the Antarctic environment.

🎙 Listen to the full conversation below or here

Sustainable Trade Africa Launches at COP28: A Glimpse into the Future of African Trade

On December 4, 2023, I attended COP28 UAE for the launch of a vital initiative titled Sustainable Trade Africa at COP28. Africa is a continent of growth and opportunity and it is a strategically significant jurisdiction for our firm. We have offices in Egypt and Morocco that support our clients, and through our network we service multiple African countries.

The African continent, with its untapped potential and a unique blend of different jurisdictions and legal frameworks, has become a focal point of interest and we have seen significant growth among our clients investing across the continent, particularly in the banking, retail, energy, construction and hospitality sectors.

However, amid its promise lies the stark reality of climate change disproportionately affecting the very cradle of mankind.

The Sustainable Trade Africa initiative emerged as a visionary endeavor, seeking to rally stakeholders from across the African continent and beyond towards embracing sustainable trade practices. Its mission is to propel economic growth while addressing the pivotal challenge of climate change, aligning with the forward-looking objectives outlined in the African Union’s Agenda 2063: The Africa We Want.

Key Highlights and Takeaways:

Comprehensive Economic Partnership Agreements (CEPA):
The event commenced with His Excellency Dr. Thani Bin Ahmed Al Zeyon, UAE’s Minister of State for Foreign Trade, emphasising Africa's potential role in reducing global CO2 emissions. His Excellency envisioned the establishment of Comprehensive Economic Partnership Agreements (CEPA) with African nations, fostering capacity building for sustainable trade. For the legal industry, this could signify a significant increase in cross-border transactions and investment flows, with environmental sustainability playing a pivotal role in shaping such agreements.

Renewable Energy Opportunities:
His Excellency Dr. Thani acknowledged Africa's vast potential for renewable energy sources, including wind, solar, and hydropower. With the UAE pledging 4.5 Billion USD towards Africa’s clean energy efforts, this presents a substantial opportunity for UAE-based Clean Energy and Clean-tech companies, as well as Green Investment and Climate Financing Institutions. Advisors in the energy and finance sectors should take note of this when counselling clients.

Addressing "Doubleshipping":
The pressing issue of "Doubleshipping" was highlighted by His Excellency Mr. Wamkele Mene, Secretary General of the Africa Continental Free Trade Area (AfCTA). Local manufacturing was proposed as a solution, with potential benefits including a reduction of up to 30 million tonnes of CO2 emissions and lower commodity prices. This signals Africa's shift towards Green Industrialisation, requiring considerations of Environmental Compliance and Supply Chain Sustainability for those venturing into manufacturing activities on the continent.

Strategic Sectors and Capacity Building:
Her Excellency Mrs. Nardos Bekele-Thomas, CEO Africa Union Development Agency-New Partnerships for Africa’s Development (AUDA-NEPAD), emphasized the importance of investment in strategic sectors and capacity building through infrastructure development. Strategic sectors include Climate Finance, Energy, Agriculture, Food Tech, Agribusiness, and Green Transport and Logistics. Keeping an eye on developments in these sectors is crucial for realising the firm’s vision for Africa and sustainability.

In conclusion, the Sustainable Trade Africa launch at COP28 marks a pivotal moment in the continent's journey towards sustainable trade practices. As the African continent positions itself as a key player in global trade and economic growth, staying abreast of developments in environmental sustainability, renewable energy, manufacturing, and strategic sectors will be essential for those with a stake in the region's future.

Learn more about our commitment to supporting our clients in Africa here and you can read our Africa Law Update here.

Gurvansh Singh
Intern,
Al Tamimi & Company