REUTERS/John Muchucha Acquire Licensing RightsSummaryCompanies Fossil fuel subsidies hampering green energy rolloutMore clarity needed on rules for carbon marketsCalls echo Africa Climate Summit on faster actionLONDON, Sept 6 (Reuters) - Ditch fossil fuel subsidies, agree the rules for carbon markets and provide more finance to emerging markets.
That was the clear message from business leaders at the Reuters IMPACT conference in London on Wednesday about what they say needs to happen at the forthcoming COP28 climate summit.
The meeting of world leaders in Dubai beginning late November is seen as a crucial test of countries' willingness to accelerate action to limit global warming, with efforts so far doing little to stem global carbon emissions.
Despite this, failure to remove fossil fuel subsidies would make it harder to expand renewable energy in some countries, Ingka's van der Poel said.
"My concern is that we have very little hopes for that ambition to be raised during COP28," she said.
Persons:
John Muchucha, Peter Van der Poel, Anél Bosman, Ingka's van der Poel, Helena Viñes, Preeti Srivastav, Andy Griffiths, Richa Naidu, William James, Helen Reid, Simon Jessop, Alexander Smith
Organizations:
REUTERS, Reuters IMPACT, Ingka Investments, Africa Climate Summit, Nedbank Corporate, Investment Banking, Sustainable Finance, Asahi Europe, Diageo, Thomson
Locations:
Nairobi, Kenya, London, Dubai, Africa