COP28 Update – 7 December 2023

Middle East, UK

COP28 has seen a host of pledges and agreements, and the CMS team has been reflecting on the announcements and sharing their experiences of COP28 on the CMS COP28 Hub. Here, we roundup the latest commentary from our team at COP28.  

CMS Commentary

Funding + reskilling + data + consumer engagement = energy transition success?

A roundup of the engaging and motivating discussion at the COP28 Energy Leaders Roundtable Dinner, discussing funding, the opportunities that reskilling brings, the role of data and the importance of consumer engagement in driving the energy transition.

Read more here: Funding + reskilling + data + consumer engagement | COP28 | CMS UAE

“Debt-for-nature” swaps: a huge potential boost for the debt capital markets?

Major multilateral development banks have united to launch a global task force focusing on "debt-for-nature" swaps that aim to reduce the debt burden of developing nations in exchange for the protection of ecosystems.

Read more here: Development Banks | COP 28 | CMS UK

Adaptation finance: more clarity for the financing and development of low carbon initiatives

The Global Climate Finance Centre (GCFC) was officially launched at COP28. The centre is dedicated to overcoming obstacles associated with financial frameworks that impede investment flows, and aims to ensure climate finance becomes "available, affordable, and accessible."

Read more here: Adaptation Finance | COP28 | CMS UAE

COP28 - Climate finance and the launch of Climate Investment Funds Capital Markets Mechanism

Climate finance took centre stage on the fourth day of the COP28 climate summit in Dubai. Building on the obligations of The Paris Agreement, banks, regulators and top officials at the COP28 climate summate committed to progressing the mobilization of climate finance from a variety of sources, including public, private and alternative sources of financing. 

Read more here: Climate finance and the launch of Climate Investment Funds | COP28 (

Views from COP28

  • Kostadin Sirleshtov, CEE Head of Energy & Climate Change, discusses the nuclear power agreements that have been made at COP28.
  • Sam Ridge, Associate at CMS Dubai, reflects on day 6 at COP28 which was focused on a just energy transition
  • Dr. André Lippert, Partner at CMS Germany, explores how the legal industry can provide a legal framework to bring about sustainable change.
  • Inshaal Ahmad, Associate at CMS Dubai, reflects on discussions and announcements at COP28 around urbanisation, electric vehicles, and sustainable infrastructure in the transportation sector.

Watch attendees views from COP28 videos here.