As COP29 continues its second week in Baku, the UNFCCC TEC’s Technology Day on Transformative Industry explored technology and policy options for hard-to-abate industries - which must be addressed to reduce global emissions - as countries develop and implement their NDCs.
The UN’s Climate Summit entered its second week today, with pressure put on moving the needle on a new global finance deal. Last week, Heads of State and Government convened for the World Leaders Climate Action Summit, with thematic days covering finance, investment and trade; energy/ peace, relief and recovery; and science, technology and innovation / digitalisation.
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Highlights from two days of panel discussions, dialogues, keynotes, and interviews with climate leaders spanning business, policy, finance and the UN at the Sustainable Innovation Forum.
As the global average temperature reaches 1.54°C in 2024, COP29 continues for its second day in Baku after success in agreeing a centralised carbon market under the UN.
As COP29 officially starts today in Baku, IRENA’s latest report signals to the gap remaining between political announcements and actual country plans and policies, calling for ambitious NDC updates that reflect the global pledge to triple renewable power capacity and double energy efficiency by 2030.
UNEP’s Adaptation Gap Report 2024 finds that nations must dramatically increase climate adaptation efforts, starting with a commitment to act on finance, one week ahead of the World Leaders Climate Action Summit at COP29.
The expected policy shift as a result of Donald Trump’s win in yesterday’s election is a great cause for uncertainty for the global climate community. However, it is also a moment to reflect on the importance of actionable climate strategies, especially ahead of the UN’s climate negotiations due to take place next week in Baku.
This time next week, COP29 will be in full force. Ahead of these climate talks, the IEA’s latest Clean Energy Market Monitor shows continued growth in clean energy deployment, but wide variations among regions and technologies exist amid increased manufacturing capacity and declining costs.
A week today, COP29 will kick off in Baku, Azerbaijan, where the climate finance landscape is expected to shift with the establishment of the New Collective Quantified Goal (NCQG). The NCQG aims to replace the existing $100 billion annual climate finance target, set in 2009, with a more ambitious goal that considers current climate vulnerabilities and increased funding needs in developing countries. Projections suggest that developing economies will need around $1.1 trillion by 2025, rising to $1.8 trillion by 2030, with the private sector expected to play a more substantial role than before.
Global climate goals are unattainable without agrifood system solutions. The private sector can play a key role in financing and scaling solutions that lower environmental impact, build resilience, support adaptation and reduce GHG emissions, whilst ensuring food security.
Low-carbon hydrogen is essential for reducing emissions in hard to abate sectors such as heavy industry and transport. However, the sector’s required rapid expansion depends on stronger demand stimulation policies, clarity on government support, and overcoming cost and infrastructure challenges to meet ambitious global targets by 2030, as underscored by the IEA's Global Hydrogen Review and the Breakthrough Agenda Report 2024.
A new IEA report finds that the global market for key clean technologies is set to triple to more than $2tn over the coming decade as energy transitions advance. It highlights the deepening connections between energy, trade, manufacturing and climate. As COP29 approaches, we address the importance of engaging the private sector in tackling challenges presented by climate change.
During the UN’s Biodiversity Summit and ahead of COP29, three key reports published by UNEP, UNFCCC and WMO serve to induce action, as they draw light on the fact that existing NDCs are inadequate, and continuation of current policies will lead to a global temperature rise of up to 3.1°C, with greenhouse gas levels reaching a new record in 2023.
As COP16 continues this week in Colombia, with world leaders looking to take decisive action to protect biodiversity, high on the agenda is addressing pollution—including plastic waste—as a key driver of biodiversity loss and ecosystem degradation. These discussions will trickle into Baku’s COP29 ahead of the fifth session of the Intergovernmental Negotiating Committee on Plastic Pollution, due to take place at the end of November in Busan.
International trade can play a pivotal role in shaping global efforts toward decarbonisation and climate action. As the world approaches COP29, discussions are intensifying on aligning trade policies with climate goals, particularly through carbon pricing and the promotion of low-carbon technologies.