COP28 Hub: STEPS to Net Zero
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18 October 2023
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Baker McKenzie has a long-standing history of participation and involvement in the UN Climate Change Conference of the Parties (COP), advising governments, companies and other entities on implementing the Paris Agreement and leading on the development of both international and domestic carbon markets.
The team will be on the ground in Dubai for COP28 and look forward to engaging in ground-breaking discussions with all key stakeholders to share insights and continue to offer cutting-edge advice to our clients. In the meantime, we have prepared a series of primers on what we expect to be some of the key themes for COP28.
COP28: The Global Stocktake - The first global stocktake under the Paris Agreement will take place at COP28 to assess the collective progress towards NDC targets and the long-term temperature goals.
COP28: Article 6 and Global Carbon Markets - The next steps in operationalising the Article 6 mechanisms will be negotiated at COP28, particularly with regard to the technical and administrative architecture to operationalise the Article 6.4 mechanism, which could provide the platform for a global carbon market.
COP28: Rise of Nature-based Solutions and Prospects for Biodiversity Markets - Nature-based solutions will be at the forefront of negotiations at COP28, given the growing uptake and reputation of nature-based solutions globally.