“To match them with the private sector has been an evolution,” he added, “but we understand each other better now.”Įconomists have predicted that the Federal Reserve’s rate-hiking campaign is now over, but expect the Fed to hold off on interest rate cuts until at least July 2024. “We meet here with clients we didn’t have before, such as the Red Cross and the World Bank,” he said. Its president, Eric Andersen, was at COP this week–a first for the company. While some see that as an opportunistic move by COP28 President Sultan Al Jaber, who also wears the hat of chairman of the UAE’s oil company ADNOC, others consider it simply to be a good thing that business is stepping up to the climate plate.Įven more significantly, the prominence of business at COP in some ways marks the end of the purely government-led multilateralism of the 20th century and heralds a new era in which public-private cooperation to face major global challenges has become the norm.Ĭonsider the case of Aon, the Chicago-based risk management firm. As Alan pointed out last Friday, the Conference of the Parties (COP) meeting in the UAE “ bustles with prominent business leaders” this year.
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