As Sweden’s official business delegation coordinator, Massoud Biouki, Trade Commissioner of Sweden to the UAE and Market Area Director – Middle East at Business Sweden, discusses the impact of showcasing innovative solutions and the diverse mix of companies contributing to COP28 engagements
What is the purpose of Business Sweden’s presence at COP28?
Business Sweden coordinates Sweden’s official business delegation and non-negotiation related agenda on site. Our ambition is to assist Swedish companies in leading the implementation of the Paris Agreement and Agenda 2030. By promoting Swedish solutions internationally, we aim to create export and investment opportunities as well as to accelerate the global green transition..
What were the outcomes of previous COPs, and why is it important to participate again?
Sweden’s business sector is a driving force in the green transition. Business Sweden’s primary task is to showcase innovative solutions that can bridge implementation gaps and accelerate the transition. Swedish companies come to the COP to pressure decision-makers to create effective actions and incentives for investments and the implementation of climate-smart solutions. Without companies, the transition will not succeed.
Why is it important that Swedish companies engage at COP28?
While Sweden may be a small country, it possesses innovative solutions that can have a significant global climate impact. Sweden not only exports world-leading climate-smart innovations, but also shares knowledge and experience regarding policy frameworks and financial instruments that we have tested and implemented in Sweden. This can inspire other countries to do more and follow our lead.
What issues will these companies advocate for during COP28?
Companies primarily want to see long-term, transparent decisions and incentives for transitioning. Many want to see emissions becoming more expensive and challenging to emit. The phasing out of fossil subsidies and the right incentives for allocating financing to green solutions are crucial. They also advocate for more standards and carbon pricing, among other things.
Which companies will be part of the Swedish COP28 engagements?
We have a good mix of conventional companies with products and solutions relevant to the green transition as well as newer companies born with green transition as part of their core.