COP28 delivered 10 meaningful pledges, including three on the energy transition and the first-ever pledge on food systems transformation. Commitments were concretized across mitigation, adaptation, and loss and damage, but the gap to finance the energy transition in developing countries remains large.

The dual challenge of energy supply and climate change proved the most contentious to address, and parties made a last-hour breakthrough to include fossil fuel transition in the final text for the first time. COP28 also saw the highest-ever attendance by global CEOs, underscoring the role of business in driving climate outcomes.

This report contains our key takeaways from COP28 and the implications for corporations around the world.

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Bain at COP30

COP30 took place in Belém, Brazil over November 10–21, 2025. The need for bold, collective action has never been more urgent. At the global convening, we engaged with corporate leaders and global experts to exchange insights and push for real, scalable solutions—because shaping a sustainable future can’t wait. At this critical juncture, we remain committed to building on our momentum and strengthening collaboration across four key transition areas: energy transition, carbon mitigation and adaptation, food systems transformation, and climate finance and investing.