The president will speak at the so-called Global Climate Action Summit with which the COP opens and which brings together dozens of heads of State and Government, along with hundreds of ministers and other senior representatives of governments and international organizations.

Throughout the day, Sánchez plans to speak in this global session and participate in some of the specific forums to promote the Adaptation Agenda, highlight the importance of the Mitigation Agenda and support the reform of the financial architecture that allows mobilizing the funds necessary to make the transition a reality.

Spain’s leadership in these issues is recognized by the ambition in the objectives set for himself and by the constructive spirit with which they attend these international events, say official sources, who emphasize that the fight against climate change is one of the Government’s priorities.

Meetings with international leaders

In addition, the president plans to maintain meetings with international leaderslike the president of Brazil, Lula da Silva, current president of Mercosur; with companies in the sector, such as Cepsa and Maersk, and investment funds, such as the CEO of Mubadala, although the latter is pending confirmation due to logistics problems.

He will also participate as co-organizer in forums such as the one developed together with the European Commission on how to promote carbon markets, in which Sánchez and the president of the European Commission, Ursula von der Leyenwill present the mechanism adopted by the EU and its good results.

The Dubai meeting is marked by the agenda predetermined at the COP21 held in Paris in 2015, in which it was agreed to carry out a global stock take (GST) of the progress made in mitigation, adaptation and financing at the 2023 meeting.

This, which will be one of the most relevant results of the summit, is based on a technical and political process that takes into account the progress since 2015 and identifies the shortcomings to establish the agenda that allows maintaining the objective of not exceeding 1.5 degrees of temperature increase on a global scale.

The challenge will be adopt concrete recommendations to adapt national plans to combat climate change on a global scale.

The Financing Agenda will also be addressed, specifically the creation of the Loss and Damage Fund for vulnerable countries affected by floods, droughts and other climate catastrophes agreed at the last COP in Sharm el-Sheikh, in Egypt.

Spain is committed to identifying the financial instruments necessary to mobilize necessary climate financethe sources have pointed out, who also point out that an agreement on markers that allow progress in adaptation to be seen is necessary.

Sánchez also plans to influence the Mitigation Agenda, an area in which Spain has set very ambitious objectives.

After the leaders’ summit, COP28 will continue until December 12 with the holding of dozens of forums on specific issues in which activists, experts, scientists and social and industrial representatives participate who will seek solutions to the emergency of the global warming.