COP28 Presidency has announced The Innovation for Climate Technology Alliance, which aims to drive global climate technology (climatetech) ecosystems for all players in the innovation value chain, COP28 presidency said in a statement.
The alliance will bring investors, innovators, knowledge partners, capacity builders, policy makers and philanthropies together with family offices, corporations and public climate tech players to drive global climate tech innovation. The alliance, which will work to identify existing and potential climatetech initiatives, aims to strength climatetech innovation ecosystems globally to drive zero-carbon growth.
The coalition includes Chinese tech firm Tencent - which will launch a global digital climatetech platform, Abu Dhabi's sustainable Masdar City, and Masdar City's startup tech accelerator Catalyst. The alliance will build on Masdar City's Innovate program, which was introduced in 2021 with the goal of assisting startups in showcasing their work. Innovate services will be extended to give coalition members the chance to network and form connections at gatherings that are vital to the conversation about climate action, such as Abu Dhabi Sustainability Week.
Other climate tech stakeholders include: the African Private Equity and Venture Capital Association (AVCA), C3 (Companies Creating Change), Climate Impact Capital, Cool Climate Collective, Crescent Enterprises, The Emirates Family Office Association, Hub71, Impact Hub Shanghai, LinkedIn, McKinsey Sustainability, Natural Ventures, Nedamco Africa, New Energy Nexus, Plug and Play, Princeville Capital, Riffle Ventures, Schneider Electric, Sheraa, Solar Impulse Foundation, Sustainable Impact Capital & Holdings, Venture Climate Alliance (VCA) and VentureSouq.
The coalition will announce its first project at COP28 later this month.
More than 70,000 visitors are expected to participate in COP28, which will take place from November 30th to December 12th at Expo City Dubai later this month.