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.
As the UN Biodiversity COP16 continues for its fourth day, the 28th IRENA Council convenes in Abu Dhabi ahead of COP29 to assess global progress in the last year. Bioenergy sits at the interface of these conversations; however robust standards must be put in place to ensure clean energy does not come at the cost of biodiversity.
The biodiversity crisis is accelerating, yet global targets to reduce loss in global species have been historically neglected. COP16 will focus on the implementation of the Kunming-Montreal Global Biodiversity Framework as countries submit their required national biodiversity strategies and action plans.
With over 32,000 participants registered, discussions in Baku will address the critical role of urban areas and the built environment in climate change mitigation and adaptation. The COP29 Declaration on Multisectoral Actions Pathways (MAP) for Resilient and Healthy Cities calls on Parties and stakeholders to enhance multisectoral cooperation to tackle climate challenges faced by cities.
As a record number of people are set to attend the UN Biodiversity Summit in Colombia, the importance of transforming economic models conducive to protecting and restoring the world’s natural ecosystems and their inhabitants is becoming increasingly clear. Today, the UK Government has announced its first Special Representative for Nature as governments and climate leaders come together at COP16 to review progress on the Kunming-Montreal Global Biodiversity Framework adopted in 2022 and discuss updated action plans for meeting its targets.
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As governments look to ensure their next round of NDCs are conducive with a just transition, at COP29 the Baku Initiative on Human Development for Climate Resilience will be launched, establishing a strategic global collaboration on human development and climate change.
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COP29 Presidency to launch the Green Digital Action Declaration, raising commitment to leverage digital tools for climate action, incorporate climate resiliencies into infrastructure, and reducing the environmental impact of digitalisation.
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At COP29, global leaders and stakeholders will assess the progress made since COP28 in the expansion of clean energy. The World Energy Outlook 2024, published today by the IEA, shows clean energy is entering the energy system at an unprecedented rate, yet today’s policy settings still put the world on course for a rise of 2.4 °C in global average temperatures by 2100.
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Overcoming the NDC implementation gap will be critical for the next round of submissions, due in February 2025. COP29 is a key opportunity to raise ambition for these plans whilst addressing implementation and financing needs to ensure practicability.
Looking ahead to COP29, its focus cannot be understated. How do we invest in a liveable planet for all? The Climate Action Innovation Zone places mobilising sustainable finance through leveraging private sector investments as one of its key thematic priorities across its flagship forums, taking place 13-15 November. Across the three days, leaders from across the private and public spheres will come together to discuss the monumental task of ramping up climate finance. Speakers will include Sabine Mauderer, First Deputy Governor of the Deutsche Bundesbank; Andrew Steer, CEO of the Bezos Earth Fund; and Avinash Persaud, Special Advisor to the Inter-American Development Bank, as well as executives from the International Finance Corporation, World Bank Global Infrastructure Facility and the International Organisation of Securities Commissions.
One month from today, on November 11th, Baku will come alive as it hosts this year’s highly anticipated UN Climate Talks, drawing international stakeholders from across the globe.
Long Duration Electricity Storage investment support scheme will boost investor confidence and unlock billions in funding for vital projects.