ITC at COP28 and the progress to date

COP28, hosted in Dubai, convened over 85,000 participants, including 150 world leaders, highlighting the urgency of addressing climate change. The conference emphasized the need for a just transition to renewable energy, aiming to cut global greenhouse gas emissions by 43% by 2030. Additionally, COP28 left significant strides in funding arrangements for addressing loss and damage, totaling $661 million. Discussions also centered on linking climate action with nature conservation, highlighting the importance of ecosystems in achieving climate goals. 

ITC stressed the need for inclusivity in the transition, particularly for vulnerable groups like women, youth, indigenous peoples, and marginalized communities. 

Collaboration and partnerships can drive transformative change

ITC highlighted initiatives such as the memorandums of understanding with the International Coffee Organization (ICO) and the Circular Economy Centre in Coffee. These came after almost two years of work to reach a productive collaboration that would mobilize resources and expertise towards sustainable solutions, in an industry network of more than 80 stakeholders.   

Youth engagement emerged as a focal point, with ITC facilitating initiatives to amplify the voices of young entrepreneurs in climate discussions. 

ITC believes trade and climate action together can yield a just and inclusive transition. Through partnerships, advocacy, and knowledge sharing, ITC champions sustainable trade practices to tackle climate change and economic development.  

ITC Highlights from COP28: 12 days of positioning & advocacy 

• The delegation included five representatives from small businesses and six from business support organisations. They expressed their views and shared their perspectives at high-level panels, and also learned from each other’s experiences. 

• ITC joined the World Trade Organization, UN Trade and Development, the International Chambers of Commerce to host the first-ever Trade House pavilion at COP. The venue hosted 47 events with 200 speakers.

• Nine events were organized by ITC, including five with top leaders. At 12 partners’ events, ITC participated as a speaker or a moderator.

• Four partnerships were formalized, including the Green Climate Fund, Schneider Electric and the UNDCC/G20 Global Land Initiative. Memorandums of understanding were signed for ongoing partnerships like the International Coffee Organization and the Centre for Circular Economy.

• Launch of the Green Performance Toolkit

• GreenToCompete Hubs advanced on their second phase roadmap, hosting a consultative workshop.

• ITC Submission to UNFCCC on Just Transition and Small Business, which elevates the awareness on the issue, to deliver ITC’s objective of bringing these views into the global conversation about climate action.