John Connor’s Post

DCarbon features 𝗖𝗢𝗣𝟮𝟵 𝗗𝗮𝗶𝗹𝘆 𝗕𝗿𝗶𝗲𝗳𝘀 - 𝗗𝗮𝘆 8 𝗖𝗼𝗽 𝟮𝟵 𝗗𝗮𝗶𝗹𝘆 𝗕𝗿𝗶𝗲𝗳𝗶𝗻𝗴 -𝗕𝗹𝘂𝗲 𝗭𝗼𝗻𝗲: - G20 Delegations Now Have Their Marching Orders for COP29: Simon Stiell - COP29 Gets Boost from G20 as Leaders Back Scaling Up Climate Finance from ‘Billions to Trillions - Technology and Policy Innovations for Emission Cuts in Heavy Industries Unveiled at COP29 - Agrifood Solutions and Financing Transformation at COP29 - Together for Farmers: FAO and COP29 Presidency Launch the ‘Baku Harmoniya Climate Initiative for Farmers’ - Action on Water at COP29 - Azerbaijan and Russia Discuss Ecological Solutions for Caspian Sea at COP29 - ACE Presidency Event: Advancing Climate Transparency: Opportunities through Action for Climate Empowerment - BambooBoost: New Collaboration to Support Climate Action, Resilience, and Biodiversity Worldwide - Climate Education and Information Support Climate Transparency 𝗖𝗢𝗣𝟮𝟵 𝗗𝗮𝗶𝗹𝘆 𝗕𝗿𝗶𝗲𝗳𝗶𝗻𝗴 -Green 𝗭𝗼𝗻𝗲: - Reducing Methane from Organic Waste Declaration - Baku Harmoniya Climate Initiative for Farmers - Azerbaijan’s Methane Reduction Commitment - Slow Food, Low Impact: Advancing Sustainable Tourism with Local Agriproducts #DCarbon #DCarbonGlobal #COP29 #UNFCCC #UNClimateConference #netzero #ClimateAction #ClimateChange #Article6 #COP #sustainability #SustainableDevelopment #ClimateSolutions #CarbonMarket #SustainableFuture #GlobalClimateEfforts #COP28efforts #DC #DCarbonTeam

Which countries are leading the transition, and which are lagging behind? An analysis of 70 countries might surprise you and also offer some paths forward on national climate progress. Ahead of updated national climate commitments (NDCs) coming ahead of COP30, the collection of investors and researchers behind the Assessing Sovereign Climate-related Opportunities and Risks (ASCOR) project looked at 70 countries to understand the transition progress and challenges globally. 𝐇𝐞𝐫𝐞 𝐚𝐫𝐞 𝐭𝐡𝐞𝐢𝐫 𝐤𝐞𝐲 𝐭𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬: 𝐄𝐦𝐢𝐬𝐬𝐢𝐨𝐧𝐬 𝐏𝐚𝐭𝐡𝐰𝐚𝐲𝐬 • 40 of the 70 countries assessed have reduced their emissions over the past five years and almost all have established medium-term targets. • Not a single country has a historical emissions trend or 2030 target that aligns with its national 1.5oC benchmark. Only a few are aligned with their ‘1.5oC fair share’ (an allocation based on equity principles) in their emissions trends or 2030 targets. 𝐂𝐥𝐢𝐦𝐚𝐭𝐞 𝐏𝐨𝐥𝐢𝐜𝐢𝐞𝐬 • 40 out of the 70 countries have established a legal framework for national climate policy through a climate framework law. • Countries perform poorly on commitments to phase out fossil fuel subsidies and production, making finance flows inconsistent with a 1.5ºC future. 𝐂𝐥𝐢𝐦𝐚𝐭𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 • Most of the developed countries (81%) assessed fail to contribute or commit to their proportional share of the US$100 billion international climate finance goal. • Only one-third of the developing countries assessed have been transparent about the costs of their mitigation and adaptation measures. This may constrain public and private finance flows towards these objectives. We need more progress and more action in the months ahead! Check out more terrific analysis from the report here: https://lnkd.in/ePTSR9bu #climate #transition #decarbonization #netzero #emissions #nations #ndcs #cop30 #climateresearch #climatedata #investors #climatefinance

#COP29 came to a close in the early hours of Sunday, November 24, as a new #ClimateFinance goal was adopted: one that is three times higher than previously, but less than a third of what developing countries need every year to manage the climate crisis. Rich countries will "take the lead" in channeling US$300 billion per year to the Global South until 2035, from “a wide variety of sources” including public, private and multilateral finance. This falls short of the US$1.3 trillion climate finance experts estimate that vulnerable countries need to receive annually by 2035 to help them mitigate and adapt to #ClimateChange. As such, it has been described as "not enough" and a "bitter disappointment" by the likes of the World Resources Institute and Greenpeace. One glimmer of hope is the launch of the ‘Baku to Belém Roadmap to 1.3T’, which will see the COP29 and #COP30 presidencies work together over the next year to scale up climate finance flows to US$1.3 trillion by 2035. https://lnkd.in/e-j65Rr6 #NCQG #ChiefSustainabilityOfficer

🌍 As #COP29 begins this week, it's vital that world leaders agree measures that keep the goals of the #ParisAgreement in reach - from ambitious and investable NDCs, to a significant ramp up of climate finance. 🏦 As a global leader in green finance, the UK has an important role to play in driving consensus on new financial commitments. Agreeing the ambitious frameworks and targets to unlock private and public investment through the New Collective Quantified Goal will be fundamental to driving down emissions. ⚡ The UK can utilise the ambitious 2030 clean power target, and the role that #climate and environmental policy has played in driving growth and prosperity across the country, to lead by example in global talks. Climate and environmental action will ultimately increase prosperity. 🤝 By setting out proactive measures at the summit, presenting an ambitious and investable NDC, and leading by example in talks at the summit, the UK has an opportunity provide the leadership required to accelerate progress at a challenging time. Read the key priorities in Carbon Brief 👇 https://lnkd.in/ed_UQxxb

As #COP29 approaches its halfway point, the interplay of finance, policy frameworks and implementation strategies will determine its legacy, here is my take on state of affairs in Baku for The News today. In #Baku, as in various previous COPs, the world is yet again waiting for a powerful signal that words and commitments will finally transform into the financial and policy frameworks needed to secure a resilient planet. Global decision-makers gathered in Baku, and those following the COP in their home countries must remember that delaying tactics won’t hold back #ClimateChange; its impacts are fast approaching and will not spare anyone. If decisive action is not taken, the costs will only grow and the chance for a sustainable future will vanish. https://lnkd.in/dffs6b47

#NCQG clearly is the new buzzword to watch 💰 As we approach the end of #COP29 it is more important than ever to clarify the nature and justification of these financial flows: ❓ Are we discussing contributions or investments ❓ Is there an economic case governments of developed countries can make to increase climate finance flows The NCQG Policy Brief puts some quantitative analysis behind the discussion. Key highlights: 💲 The estimate for public finance required for mitigation is approximately $225.9 billion annually, totaling $2.8 trillion over the period from 2025 to 2035. 💲 The "outer quantum", i.e. private finance leveraged by public flows, is estimated at around $957.9 billion annually, amounting to $10.5 trillion over the same period. 💰 Globally, transitioning to renewable energy can yield a net economic benefit of $78 trillion by the end of the century, coming from avoided loss and damage and adaptation costs and reduced health costs linked to lower pollution. Now, this is an investment that passes even the strictest hurdle rates! #ClimateFinance #Mitigation #TransitionFinance

This month's U.N. climate summit - COP29 in Baku, Azerbaijan - has been dubbed the "climate finance COP" for its central goal: to agree on how much money should go each year to helping developing countries cope with climate-related costs. That discussion could be tough following Tuesday's re-election of former U.S. President Donald Trump, a climate denier whose campaign vowed to remove the top historic greenhouse gas emitter and leading oil and gas producer from the landmark 2015 Paris Agreement to fight climate change for a second time. Negotiations So Far Articles 2 and 9 of the Paris Agreement are central to climate finance discussions, underscoring the need to align financial flows with pathways that support low-carbon, climate-resilient development. Originating from the 2009 Copenhagen Accord, developed countries committed to providing $30 billion in "new and additional" financial resources for 2010-2012 and agreed to mobilise $100 billion annually by 2020. Building from a $100 billion floor, the NCQG was set for establishment ahead of 2025, reflecting the needs and priorities of developing countries. Despite the guiding principles of predictability, effectiveness, additionality, fairness and intergenerational equity, reaching a consensus on the NCQG remains challenging. After 11 technical expert dialogues and three ad hoc meetings, deep divisions persist on key issues. Some countries support a single, unified target, while others propose a layered approach with annual targets across various climate action areas. This debate, alongside differing preferences for five- or 10-year timelines and alignment with Nationally Determined Contributions (NDCs) and Biennial Transparency Reports (BTRs), adds layers of complexity. Ambition for the New Goal The NCQG must reflect the growing needs of developing nations and surpass the $100 billion benchmark, which represents more of a political compromise than actual financial needs. As financing requirements are projected in the trillions annually, the NCQG should address this scale, with specific targets for mitigation, adaptation, and loss and damage. This would also help redress the current imbalance, where mitigation receives the majority of funding, leaving adaptation and loss and damage underfunded.

Introduction to COP29 The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change (UNFCCC) convened in Baku, Azerbaijan, from November 11th to 22nd, 2024.This annual global gathering brought together delegates from nearly 200 countries to address the urgent issue of climate change and chart a course towards a sustainable future. Agenda for COP29 ● Climate Finance: A central theme of the conference was the need to significantly increase climate finance, particularly for developing countries. The goal was to secure a new collective quantified goal on climate finance (NCQG) to replace the previous $100 billion annual target. ● Carbon Markets: Following nearly a decade of negotiation, COP29 hoped to come to terms with Article 6 of the Paris Agreement (particularly 6.2 and 6.4) by reaching a common ground among nations to finalise and operationalise it. ● Mitigation: COP29 aimed to strengthen national climate action plans (NDCs) and accelerate the transition to clean energy sources, such as renewable energy and energy efficiency. ● Adaptation: The conference focused on enhancing adaptation efforts to protect vulnerable communities and ecosystems from the impacts of climate change. ● Technology Transfer and Capacity Building: Facilitating the transfer of climate technologies and building capacity in developing countries were essential to accelerate climate action. Key Takeaways from COP29: ● Article 6 Finalization: The operationalization of Article 6 is a major milestone, providing a robust framework for international cooperation on climate action. ● Increased Climate Finance: The new climate finance goal of $300 billion per year by 2035 is a significant step, but it is essential to listen to the practical demands of developing nations and ensure that these funds are delivered and used effectively. ● Accelerated Climate Action: COP29 emphasized the need for ambitious climate action, including the strengthening of national climate plans and the deployment of clean technologies. ● Adaptation and Resilience: The conference highlighted the importance of adaptation and resilience, particularly for vulnerable countries. ● Just Transition: The need for a just transition to a low-carbon economy was recognized, with a focus on ensuring that workers and communities are not left behind.

LETA Talks COP29 Azerbaijan:   Some important outcomes were achieved during the 29th Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UN Climate Change), which was held in Baku, Azerbaijan, and concluded in the early hours of Sunday, 24 November.   In an uncertain global environment, COP29 decisions have set a pathway for:   - 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐝 𝐂𝐥𝐢𝐦𝐚𝐭𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐞: Supporting developing nations in climate mitigation, adaptation, and resilience efforts.   - 𝗔𝗱𝘃𝗮𝗻𝗰𝗲𝗺𝗲𝗻𝘁𝘀 𝗼𝗻 𝗔𝗿𝘁𝗶𝗰𝗹𝗲 𝟲 𝗼𝗳 𝘁𝗵𝗲 𝗣𝗮𝗿𝗶𝘀 𝗔𝗴𝗿𝗲𝗲𝗺𝗲𝗻𝘁: After nearly a decade of negotiations, agreements were reached to enable international carbon credit trading, supported by UN-backed market and non-market initiatives. Learn more here: https://lnkd.in/dxJ9X4Dw   While negotiations were extended and challenging, the agreed package is a step forward.   For Australia, the opportunity now lies in collaborating with funding providers like LETA and making decisions to enable international carbon credit trading. This mechanism can offer a cost-effective way to amplify emissions reduction efforts.   At LETA, we are committed to decarbonisation through collaboration and working closely with governments, industries, and international partners to reduce emissions across the entire lifecycle of hard-to-abate sectors.

BLOG | #CorporateSustainability The recent OECD Forum on Green Finance and Investment 2024 highlighted how despite insufficient leadership expected through #COP29, more clarity would be required to help investors and corporations advance their climate journey. During COP29, building off of the Environment Chapter of the OECD Guidelines for Multinational Enterprises on Responsible Business Conduct, the #OECD released a #policypaper on “Responsible Business Conduct for Climate Action: Strengthening the contribution of business to climate goals.” The document serves as a compass for #businesses and #investors in navigating multiple, and sometimes conflicting, expectations on how to address the climate crisis. Here’s an overview 👇 #ClimateAction #SustainabilityReporting #ESG #SDGs