LACI CEO Statement on COP28 Agreement

LOS ANGELES, Dec. 15, 2023 /PRNewswire/ -- Following the unanimous approval of a declaration by COP28 diplomats that included calls for the phase out of fossil fuels and the tripling of renewable energy capacity, Matt Petersen, LACI's President and CEO, issued the following statement:

"While not adequate in meeting the magnitude of the climate crisis, it is historic that the 'phasing out' of fossil fuels—along with the funding of loss and damages, albeit modest, and commitments for the tripling of renewable energy capacity—was included in the final COP28 declaration unanimously approved in Dubai yesterday. In attending COP28 to share LACI's unique green economic development model to deploy equitable climate solutions at speed and scale, I was also pleased to be amongst hundreds of startup founders and fellow California leaders showing how the world's 4th largest economy is helping lead the way.

"Along with 2000 others, I signed the letter challenging COP28 President Sultan Al-Jaber and all delegates to ensure the final declaration committed to 'phasing out' fossil fuels along with commitments for climate finance and biodiversity. The unanimous agreement codifies for the first time in the history of the world's largest climate conference what we have known all along: that we must end our reliance on fossil fuels to ensure, as I often say, humanity doesn't just survive but also thrives on this planet."

ABOUT LACI:

Established in 2011 as an economic development initiative of the City of Los Angeles and LA Department of Water and Power (LADWP), LACI is creating an inclusive green economy by unlocking innovation through startup incubation, transforming markets through catalytic partnerships, pilots and policies, and enhancing communities through green job training. Solutions are focused on zero emissions transportation, clean energy, and sustainable cities. LACI's startup incubation programs provide curriculum, coaching, pilot funding, access to venture and debt funds, additional resources for underrepresented founders, paid interns, and other resources to scale emerging cleantech companies.

Cameron Edinburgh
213.647.1441
[email protected]

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SOURCE Los Angeles Cleantech Incubator