Abdulla Bin Touq, Minister of Economy, speaks during a Road to Cop28 event held in Dubai this week. Pawan Singh / The National
Abdulla Bin Touq, Minister of Economy, speaks during a Road to Cop28 event held in Dubai this week. Pawan Singh / The National
Abdulla Bin Touq, Minister of Economy, speaks during a Road to Cop28 event held in Dubai this week. Pawan Singh / The National
Abdulla Bin Touq, Minister of Economy, speaks during a Road to Cop28 event held in Dubai this week. Pawan Singh / The National

Cop28: Six months to go before crucial Dubai summit tackles climate crisis


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The countdown to Cop28 is gathering pace with only six months to go until world leaders, ministers, officials and campaigners on the front lines of the fight against climate change descend on Dubai.

About 70,000 delegates are expected to attend the global gathering at Expo City Dubai, as the international community meets to outline action aimed at safeguarding the planet for future generations.

The UN has repeatedly warned time is running out to tackle the emergency.

With just months to go, here is what to expect from the key environment summit.

  • A man wears a face mask that reads "no climate justice without human rights" during a protest at the COP27 UN Climate Summit in Sharm El Sheikh, Egypt. AP
    A man wears a face mask that reads "no climate justice without human rights" during a protest at the COP27 UN Climate Summit in Sharm El Sheikh, Egypt. AP
  • A presentation at the American University in Cairo Pavilion. Reuters
    A presentation at the American University in Cairo Pavilion. Reuters
  • Egyptian artist Bahia Sheha stands inside her installation "Heaven & Hell in the Anthropocene." AFP
    Egyptian artist Bahia Sheha stands inside her installation "Heaven & Hell in the Anthropocene." AFP
  • Akihiro Nishimura, minister of the environment of Japan, reviews notes with others at the COP27. AP
    Akihiro Nishimura, minister of the environment of Japan, reviews notes with others at the COP27. AP
  • US Special Presidential Envoy for Climate John Kerry, right, and Xie Zhenhua, China's special envoy for climate greet each other at the COP27 UN Climate Summit in Sharm el-Sheikh, Egypt. AP
    US Special Presidential Envoy for Climate John Kerry, right, and Xie Zhenhua, China's special envoy for climate greet each other at the COP27 UN Climate Summit in Sharm el-Sheikh, Egypt. AP
  • Brazilian president-elect Luiz Inacio Lula da Silva poses for a group photograph with representatives of his country's indigenous people. AFP
    Brazilian president-elect Luiz Inacio Lula da Silva poses for a group photograph with representatives of his country's indigenous people. AFP
  • People attend the COP27 UN Climate Summit in Sharm El-Sheikh. EPA
    People attend the COP27 UN Climate Summit in Sharm El-Sheikh. EPA
  • Activists dancing during a discussion on leaflets at the Cop27 climate conference, taking place in Sharm El Sheikh, Egypt. AFP
    Activists dancing during a discussion on leaflets at the Cop27 climate conference, taking place in Sharm El Sheikh, Egypt. AFP
  • An activist wears a polar bear outfit as part of campaigning. AFP
    An activist wears a polar bear outfit as part of campaigning. AFP
  • From left, Rakia Amandou of Niger, Ba Aminata of Burkina Faso, Kenyan Rosemary Nenini, Fatima Mustafa Ahmed from Sudan and Djeneb Dicko from Burkina Faso at the Indigenous Peoples Pavilion. AP
    From left, Rakia Amandou of Niger, Ba Aminata of Burkina Faso, Kenyan Rosemary Nenini, Fatima Mustafa Ahmed from Sudan and Djeneb Dicko from Burkina Faso at the Indigenous Peoples Pavilion. AP
  • Abdulla Nasser Musallam Al Rahbi, Oman's Ambassador to Egypt and Permanent Representative to the Arab League, speaks at the COP27 climate conference in Egypt's Red Sea resort city of Sharm el-Sheikh. AFP
    Abdulla Nasser Musallam Al Rahbi, Oman's Ambassador to Egypt and Permanent Representative to the Arab League, speaks at the COP27 climate conference in Egypt's Red Sea resort city of Sharm el-Sheikh. AFP
  • Climate activists demonstrate in the designated protest zone. AP
    Climate activists demonstrate in the designated protest zone. AP
  • Sheikh Abdullah, Director General of Environment at the Public Authority of Kuwait, speaks at Cop27. AFP
    Sheikh Abdullah, Director General of Environment at the Public Authority of Kuwait, speaks at Cop27. AFP
  • Visitors at the Sharm El Sheikh International Convention Centre. AFP
    Visitors at the Sharm El Sheikh International Convention Centre. AFP
  • A display outside the convention centre. AFP
    A display outside the convention centre. AFP
  • A fountain in the green zone at the International Convention Centre at sunset. AFP
    A fountain in the green zone at the International Convention Centre at sunset. AFP
  • Mohamed bin Daina, right, Bahrain's Special Envoy for Climate Affairs and Chief Executive at the Supreme Council for Environment, at the conference. AFP
    Mohamed bin Daina, right, Bahrain's Special Envoy for Climate Affairs and Chief Executive at the Supreme Council for Environment, at the conference. AFP
  • Members of Extinction Rebellion stage a protest at the Glencairn tidal pool outside Cape Town, South Africa to mark Cop27's 'Water Day'. AP
    Members of Extinction Rebellion stage a protest at the Glencairn tidal pool outside Cape Town, South Africa to mark Cop27's 'Water Day'. AP
  • From left, Fahad Al Maskari of the Khalifa University, Frank Hartmann, Ghaleb Al Breiki of the UAE University, and Mouna Maroun of the University of Haifa, sign an agreement at Cop27. AFP
    From left, Fahad Al Maskari of the Khalifa University, Frank Hartmann, Ghaleb Al Breiki of the UAE University, and Mouna Maroun of the University of Haifa, sign an agreement at Cop27. AFP
  • John Kerry, US special presidential envoy for climate, at Cop27 in Sharm El Sheikh, Egypt. AP Photo
    John Kerry, US special presidential envoy for climate, at Cop27 in Sharm El Sheikh, Egypt. AP Photo
  • Australian climate activists offer bananas to climate summit participants. AFP
    Australian climate activists offer bananas to climate summit participants. AFP
  • Climate activist Sabrina Elba. AP Photo
    Climate activist Sabrina Elba. AP Photo
  • Egyptian security forces stand guard during the protest. AFP
    Egyptian security forces stand guard during the protest. AFP
  • US President Joe Biden. AFP
    US President Joe Biden. AFP
  • Mr Biden with Egyptian President Abdel Fattah El Sisi. AP
    Mr Biden with Egyptian President Abdel Fattah El Sisi. AP
  • A Cop27 sign in Sharm El Sheikh, Egypt, provides the backdrop for this woman's selfie. Reuters
    A Cop27 sign in Sharm El Sheikh, Egypt, provides the backdrop for this woman's selfie. Reuters
  • Egypt's President Abdel Fattah El Sisi speaks to US House Speaker Nancy Pelosi at the climate summit. AFP
    Egypt's President Abdel Fattah El Sisi speaks to US House Speaker Nancy Pelosi at the climate summit. AFP
  • A water wonderland greets this child at an acquarium in the Cop27 Green Zone. Reuters
    A water wonderland greets this child at an acquarium in the Cop27 Green Zone. Reuters
  • Mr El Sisi, second left, takes part in a cycling marathon on the sidelines of Cop27. EPA
    Mr El Sisi, second left, takes part in a cycling marathon on the sidelines of Cop27. EPA
  • Rafael Grossi, director of the International Atomic Energy Agency, speaks in Sharm El Sheikh about 'complicated' talks to set up a protection zone around Ukraine's Zaporizhzhia nuclear plant. AFP
    Rafael Grossi, director of the International Atomic Energy Agency, speaks in Sharm El Sheikh about 'complicated' talks to set up a protection zone around Ukraine's Zaporizhzhia nuclear plant. AFP
  • Frankie the dinosaur. Reuters
    Frankie the dinosaur. Reuters
  • US House Speaker Nancy Pelosi. Reuters
    US House Speaker Nancy Pelosi. Reuters
  • Sheikha Shamma bint Sultan, CEO of the Alliances for Global Sustainability; Mariam Al Mheiri, Minister of Climate Change and Environment and Minister of State for Food Security; and Hatem Dowidar, group CEO at e&. AFP
    Sheikha Shamma bint Sultan, CEO of the Alliances for Global Sustainability; Mariam Al Mheiri, Minister of Climate Change and Environment and Minister of State for Food Security; and Hatem Dowidar, group CEO at e&. AFP
  • Sameh Shoukry, Cop27 president, centre left, poses for photos in the youth pavilion. AP
    Sameh Shoukry, Cop27 president, centre left, poses for photos in the youth pavilion. AP
  • A visitor looks at the 'Zero Point' series of collage portraits by Turkish artist Deniz Sagdic, each of which is made from a particular kind of upcycled waste material. Getty
    A visitor looks at the 'Zero Point' series of collage portraits by Turkish artist Deniz Sagdic, each of which is made from a particular kind of upcycled waste material. Getty
  • Participants visit the Ukrainian pavillon. AFP
    Participants visit the Ukrainian pavillon. AFP
  • Mr Kerry speaks during a session on accelerating the clean energy transition in developing countries. AP
    Mr Kerry speaks during a session on accelerating the clean energy transition in developing countries. AP
  • Youth climate activists. Pictured, from the left, Eric Njuguna of Kenya, Nicole Becker of Argentina, Vanessa Nakate of Uganda, Sophia Kianni from Iran, and Mitzi Jonelle Tan of the Philippines. AP
    Youth climate activists. Pictured, from the left, Eric Njuguna of Kenya, Nicole Becker of Argentina, Vanessa Nakate of Uganda, Sophia Kianni from Iran, and Mitzi Jonelle Tan of the Philippines. AP
  • Muhammad Sulaiman Al Jasser, right, chairman of the Islamic Development Bank Group, poses for a photo with Mohamed Hadi Al Hussaini, the UAE's Minister of State for Financial Affairs. AFP
    Muhammad Sulaiman Al Jasser, right, chairman of the Islamic Development Bank Group, poses for a photo with Mohamed Hadi Al Hussaini, the UAE's Minister of State for Financial Affairs. AFP
  • Kristalina Georgieva, managing director of the International Monetary Fund. Bloomberg
    Kristalina Georgieva, managing director of the International Monetary Fund. Bloomberg
  • A police officer stands at the entrance of the Sharm El Sheikh International Convention Centre during Cop27. Reuters
    A police officer stands at the entrance of the Sharm El Sheikh International Convention Centre during Cop27. Reuters
  • United Nations Secretary General Antonio Guterres. AP Photo
    United Nations Secretary General Antonio Guterres. AP Photo
  • Former US vice president Al Gore speaks during a session at Cop27. AP Photo
    Former US vice president Al Gore speaks during a session at Cop27. AP Photo
  • Demonstrators shout slogans during a protest. AFP
    Demonstrators shout slogans during a protest. AFP

Building on Cop27 in Egypt

Cop27 took place at Sharm El Sheikh in 2022. Countries agreed to establish a loss and damage fund that, in theory, could be paid by developed countries to developing nations as compensation for damage caused by climate change. Who pays into it and other key questions were left for discussions at Cop28.

Majid Al Suwaidi, director general of Cop28, told attendees at the end of the talks there was a “steep hill” to climb before Cop28 with some delegates at Cop27 saying not enough was done on cutting harmful warming emissions and scaling up climate finance.

Others called for action in securing the $100 billion a year promised more than a decade ago by richer countries to help poorer nations tackle climate change.

The UAE’s global listening tour

As part of the UAE plans to host Cop28, Dr Sultan Al Jaber, President-designate of the summit, has embarked on a global listening tour to hear the views of everyone involved in the Cop process.

In March, Dr Al Jaber, who is also Minister of Industry and Advanced Technology, warned at the Copenhagen Climate Ministerial summit the world was “way off track” in its efforts to limit global warming.

Dr Al Jaber, who serves as UAE special envoy for climate change and chairman of Masdar, said Cop28 needed to advance the loss and damage fund and ramp up climate finance.

He also spoke at May's Petersberg Climate Dialogue in Germany emphasising the need to make progress on finance discussion.

Dr Al Jaber told the UK’s Guardian newspaper the scale of the problem needed everyone “working in solidarity”.

“We need partnerships, not polarisation, and we need to approach this with a clear-eyed rationale and executable plan of action,” he said.

Dr Sultan Al Jaber, President-designate of Cop28 and Minister of Industry and Advanced Technology, at the 'Road to Cop28' launch event at Expo City Dubai. Pawan Singh / The National
Dr Sultan Al Jaber, President-designate of Cop28 and Minister of Industry and Advanced Technology, at the 'Road to Cop28' launch event at Expo City Dubai. Pawan Singh / The National

Two Cop28 events point the way forward

The first Cop28 presidency event took place at Expo City Dubai in March where it was announced that the UAE is to sponsor 100 international youth delegates to attend the summit. It will prioritise delegates from the least developed countries, small island developing states, indigenous peoples and other minority groups.

A second event, organised by the UN Climate Change High-Level Champions and the Dubai Chambers in collaboration with the Cop28 Presidency, on Monday, aimed to galvanise non-state actors, such as companies and non-governmental organisations, into tackling climate change. It underlined the UAE’s drive to involve all segments of society ahead of the climate summit.

Support for UAE as hosts

The US and EU have reiterated their support for the UAE after some members of the US Congress and the European Parliament called for the influence of oil and gas lobbyists to be curbed at the talks.

“Dr Sultan Al Jaber is an experienced diplomat and business leader, including as chairman of renewable energy company Masdar,” a US government official told The National.

“The UAE is a crucial partner in advancing our joint efforts to combat the climate crisis, including through their Cop28 leadership.”

Frans Timmermans, the EU’s senior negotiator on climate change, said vilifying and ignoring private energy concerns would not help the green transition.

US climate envoy John Kerry has also backed Dr Al Jaber.

Crucial German summit marks halfway stage

The next key global climate meeting takes place in Germany from June 5 to 15.

The Bonn Climate Change Conference marks the crucial halfway point to Cop28 and will reflect on progress made since Cop27. Key areas for discussion will include loss of damage, mitigation, adaptation (dealing with the effects of climate change), scaling up climate finance and global stocktake.

Mandated under the 2015 Paris Agreement to take place every five years, the first stocktake began at Cop26 in Glasgow and will conclude at Cop28. Each stocktake is a two-year process and will assess how countries are doing in their pledges made to meet the 2015 deal.

The Paris Agreement aims to try to limit global temperature increases to 1.5ºC on pre-industrial levels and keep them below 2ºC.

The UN has said the world has much work to do to meet these goals but Dr Al Jaber has said the 1.5ºC goal remains a top priority for Cop28.

Cop28 takes place at Expo City Dubai. EPA
Cop28 takes place at Expo City Dubai. EPA

What to expect at Cop28 and can the public attend?

Cops are typically divided into a blue and green zone. The blue zone is managed by the United Nations Framework Convention on Climate Change and is open to only accredited party and observer delegates.

This is where the negotiations take place, along with discussions, speaking events and cultural events.

The green zone is managed by the Cop28 presidency and is typically open to the public. Youth groups, civil society, the private sector and indigenous groups hold events in the area to promote their message about climate change.

Cop28, which also takes place during the UAE's National Day celebrations, will also have a programme of thematic days to raise awareness about climate issues.

A provisional list for Cop28 includes, for the first time, a day focused on the climate crisis’ consequences on health and well-being. Other days are set to focus on food and water systems, youth, and cities,

The programme is expected to be confirmed in the coming weeks.

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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Updated: May 31, 2023, 2:43 PM