The COP28 Climate Change Conference organized by the UNITED NATIONS started yesterday in Dubai. This main global conference is attended by prominent representatives of the countries and organizations from around the world. The main focus of this year's conference is the progress of the countries towards achieving the goals of the 2015 Paris Agreement, which was also attended by the VZMD President, Mr. Kristjan Verbič. The green transition has significant financial implications, which is why the Financial Services User Group (FSUG) at the European Commission, a member of which is also Mr. Verbič, published a statement on key issues to be addressed by the COP28. The statement issued yesterday was discussed by the FSUG at the end of last week and after their meeting in Brussels, where they supported the efforts to limit the global warming, and highlighted that the negotiations should improve upon the global progress and encourage investments into green technologies.
Consistent evaluation of the progress thus far, as well as enabling international cooperation and alliances to tackle more difficult challenges can be instrumental in achieving the set goals, preventing 'greenwashing', and promoting actual financial commitments that will address the gaps in mitigating, adapting, and financing energy transition. Furthermore, the FSUG also urges the Commission to ensure that the burden of the green transition will not fall solely on the shoulders of the citizens and local communities; instead, it should be financed mostly from the high profits that have been made by the European energy and financial sector during this period.
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