New York Climate Exchange CEO Applauds COP28 Agreement For Commitment To Transition Away From Fossil Fuel

December 13, 2023

Today, negotiators at COP28 in Dubai reached a historic agreement to start the global transition away from fossil fuels – the primary driver of the climate crisis.

The agreement, which comes amid the hottest year on record, is a necessary step to hasten the transition to renewable energy and greatly impact divestment from the fossil fuel sector. Dr. Stephen Hammer, CEO of the New York Climate Exchange— a first-of-its-kind organization working to implement innovative climate solutions in New York City and across the globe— released the following statement in response:

“For the average citizen, the impact of the decisions made at COP28 will not be felt today, tomorrow, next month, or even next year. But make no mistake, the global commitment made today will reverberate across the world, signaling to investors that renewable energy is the future and fossil fuels are an increasingly bad investment.

“To achieve the changes at the speed and scale required, discussions we had at COP28 made clear that progress is only possible with collaboration. As we look ahead to 2024, The New York Climate Exchange looks forward to convening a diverse coalition of academic, private, community, and public sector partners to help New York City and other communities around the world deliver on the commitments made at COP28. Our commitment to solving the climate crisis remains unwavering – and together, we will.”  

The New York Climate Exchange 

The New York Climate Exchange (“The Exchange”) is a first-of-its-kind collaborative model for accelerating climate change solutions in New York City and communities around the world. Powered by its strong partnerships and future home on Governors Island, The Exchange will use education, research, an innovation hub, job training, and public programs to prepare communities to respond to climate challenges. More information can be found at

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