Why COP28 matters to Mukesh Ambani’s ‘new energy’ ambitions

With a foot on either side of the climate debate, the billionaire is trying to set up Reliance Industries for its next leg of growth. A favorable outcome at the summit is exactly what he needs to convince investors.

As representatives from nearly 200 countries converge in the United Arab Emirates later this month to hold the crucial climate talks at the COP28 summit, India’s richest man will be keenly watching its outcome.

Mukesh Ambani’s plans to turn Reliance Industries into a green energy powerhouse could get a boost if climate negotiators manage to agree on certain aspects of the energy transition. It helps that Ambani himself has found a spot on the panel.

COP28 stands for the 28th Conference of the Parties of the United Nations Framework Convention on Climate Change. The annual summit is meant for governments …