DCarbon Global’s Post

🌍 𝗖𝗢𝗣𝟮𝟵 𝗗𝗲𝗰𝗹𝗮𝗿𝗮𝘁𝗶𝗼𝗻𝘀 𝗮𝗻𝗱 𝗣𝗹𝗲𝗱𝗴𝗲𝘀 DCarbon Global proudly shares the #initiatives and #pledges made by the COP29 Azerbaijan Presidency during the G77 and China Coordination Meeting on November 14, 2024. 𝗖𝗢𝗣𝟮𝟵 𝗚𝗿𝗲𝗲𝗻 𝗘𝗻𝗲𝗿𝗴𝘆 𝗣𝗹𝗲𝗱𝗴𝗲: 𝗚𝗿𝗲𝗲𝗻 𝗘𝗻𝗲𝗿𝗴𝘆 𝗭𝗼𝗻𝗲𝘀 𝗮𝗻𝗱 𝗖𝗼𝗿𝗿𝗶𝗱𝗼𝗿𝘀 The COP29 Green Energy Pledge focuses on establishing #Green #Energy #Zones and #Corridors. This commitment includes setting ambitious #targets to: Promote #investment in #sustainable energy #solutions, stimulate economic growth through innovative #energy initiatives, develop, modernize, and expand #infrastructure to support green energy transitions, and #foster regional cooperation for a #unified approach to #sustainability. Together, these actions aim to accelerate progress toward a sustainable and energy-secure future. #DCarbon #DCarbonGlobal #COP29 #UNFCCC #UNClimateConference #NetZero #ClimateAction #ClimateChange #Article6 #COP #Sustainability #SustainableDevelopment #ClimateSolutions #CarbonMarket #SustainableFuture #GlobalClimateEfforts

Sessions Today at COP29: 15 November – Clean Energy and Resilient Recovery   Today at COP29, WGEO will focus on Clean Energy and Resilient Recovery. Events will include the announcement of the Carbon Neutral Cities Initiative, showcasing WGEO’s support for African cities in achieving carbon neutrality. Additional highlights include keynote addresses from WGEO’s Chairman and the Secretary General of UCLG-Africa, and discussions on carbon markets, green recovery strategies, and modernizing infrastructure for a renewable energy transition. A dedicated training on Article 6 will equip participants to meet their Paris Agreement commitments.   📅 November 15, 2024 📍 WGEO Pavilion No. C12, Blue Zone, COP29, Baku, Azerbaijan   Follow WGEO for live updates as we discuss strategies for a resilient, low-carbon future. World Green Economy Organization (WGEO) COP29 Azerbaijan   #WGEO #COP29 #COP29Azerbaijan #WorldGreenEconomyOrganization #ClimateAction #Baku #GreenEconomy #WGEOatCOP29

🌍 Last week's insights from DAY 5 Sustainable Energy Week: Building Momentum for COP29 and a Sustainable Energy Future 🌍 The final day of UNECE Sustainable Energy Week 2024 brought together high-level discussions focused on regional cooperation and preparing for COP29. The day’s session, moderated by Mr. Dmitry Mariyasin, Deputy Executive Secretary of UNECE, underscored the importance of partnerships and collective action to drive sustainable energy transitions. Key addresses included:  - Ms. Tatiana Molcean, Under-Secretary-General and Executive Secretary, UNECE, who highlighted the need for unified regional responses to global challenges.  - Mr. Galib Israfilov, Ambassador and Permanent Representative of Azerbaijan to the UN Office in Geneva, emphasized the strategic role of multilateral engagement in tackling energy and climate issues.  - Mr. Elmar Mammadov, COP29 Senior Negotiator, provided critical updates on preparations for COP29, including the need for enhanced cooperation. - Mr. Daniele Violetti, Senior Director, Programmes Coordination, UN Climate Change (UNFCCC), highlighted the objectives and various workstreams of the negotiations that will take place at COP29. The session fostered a constructive dialogue between country representatives and international organizations, all aligning on the need for decisive action in the lead-up to COP29. The week concluded with the adoption of the final report and recommendations from the Committee on Sustainable Energy. Mr. Dario Liguti, Director of UNECE’s Sustainable Energy Division, and Ms. Iva Brkic, Secretary of the Committee, outlined the pathway forward as we strengthen support for member States to achieve just, inclusive, and resilient energy systems. UNECE remains committed to supporting its member States in accelerating the energy transition, fostering cooperation, and ensuring the region plays a key role in the global climate agenda. As we look ahead to COP29, today’s discussions have laid the groundwork for impactful climate action that benefits all. #UNECE #SustainableEnergy #COP29 #EnergyTransition #ClimateAction #GlobalCooperatio

🌍 Key Highlights from COP29 Azerbaijan: The Finance COP in #Baku The 29th Conference of the Parties (COP29) has brought global leaders to Baku, Azerbaijan, to shape the future of climate action. Dubbed the "Finance COP," this year’s focus is on mobilizing funds, advancing carbon markets, and accelerating the energy transition. Here are the major takeaways: 💸 Climate Finance New Collective Quantified Goal (NCQG): Developing nations are calling for $1 trillion annually to combat climate impacts, while developed countries proposed $300 billion by 2035—a gap that remains unresolved. Renewable Energy Investments: Clean energy investments are projected to hit $2 trillion in 2024 (UNFCCC). 🌐 Carbon Markets Article 6 Progress: Near-finalized carbon trading rules aim to enhance transparency and integrity. National Carbon Strategies: Fiji unveiled a roadmap to develop emission-reduction projects. ⚡ Energy Transition Energy Storage Pledge: A global initiative targets a 6x increase in storage capacity by 2030. Methane Reductions: The EU’s new Methane Abatement Partnership aims to cut emissions. 🔧 Energy Efficiency Efficiency as a Service: A pilot model supports investments in energy-efficient technologies for SMEs, reducing carbon footprints while saving costs. 🚀 Emerging Technologies #Hydrogen, #CCS, and #digitalization were spotlighted as critical tools for clean energy innovation. 🤝 Energy Access and Equity Ensuring affordable, clean energy for all remains a priority, with initiatives focusing on renewable deployment in underserved regions. Baku is setting the stage for transformative action. What are your thoughts on these bold moves? Let’s discuss! 🌱✨

A huge thank you to Kahlil Edwin, Project Lead for COP29 Azerbaijan, for his insightful presentation during our todays EIC (Energy Industries Council) session on the road to COP29, taking place in just over 50 days time. Taking place in Baku, Azerbaijan, it’s clear that this COP will continue to shape the future of global energy and climate action. My Key Takeaways from Kahlils presentation: 🔹 Azerbaijan has a strong commitment to achieve net zero by 2050, whilst aiding industrial decabonisation. 🔹 International collaboration at COP29 is essential to achieving deep, sustained emission reductions. 🔹 COP29, the ‘Finance COP’ will focus on areas such as finance, energy, and innovation, which will have a profound impact on global energy supply chains. 🔹 The Green Zone will once again be a hub for businesses, governments, and innovators to share solutions for a zero-carbon future. If you'd like to receive a copy of today's presentation, feel free to send me a message. #COP29 #Sustainability #EnergyTransition #ClimateAction #GlobalCollaboration

H.E. Mohamed Hamel, Secretary General of the Gas Exporting Countries Forum (GECF), held a productive bilateral meeting with H.E. Mukhtar Babayev, COP29 President-Designate and Azerbaijan’s Minister of Ecology and Natural Resources. During the meeting, H.E. Hamel noted that Azerbaijan is the third GECF Member to host a COP consecutively and expressed the GECF's support for COP29's success. H.E. Babayev provided an update on the preparations for COP29, assuring that Azerbaijan is ready to provide all necessary conditions for a successful event. Both leaders emphasized the importance of an inclusive and transparent Climate Conference, anchored in the principles and provisions of the UN Framework Convention on Climate Change (UNFCCC) and the Paris Agreement. Their discussions covered several topics including mitigation and adaptation, the importance of climate financing, particularly the setting of a new quantified goal for climate finance, and the significance of technology transfer and capacity building. H.E. Babayev highlighted that access to technology is as crucial as access to finance for developing countries transitioning to cleaner energy systems. H.E. Hamel emphasized the essential role of natural gas in providing affordable, reliable, and sustainable energy, while facilitating orderly, equitable, and economically-viable energy transitions. He praised Azerbaijan’s smart energy policy, which integrates natural gas and renewables, as a model for other countries. He also informed that the GECF intends to have a pavilion at COP29. #COP29 #SustainableEnergy #NaturalGas #RenewableEnergy #Azerbaijan #GECF #EnergyTransition #ClimateAction #ParisAgreement #CleanEnergy #TechTransfer

As week 2 of #COP29 kicks off, the urgency for energy efficiency action is clear. At #COP28, countries pledged to double efficiency improvements to around 4% annually by 2030, but research indicates this rate was just 1.3% in 2023. Policymakers worldwide must act now to address the climate emergency. CLASP, Alliance for an Energy Efficient Economy (AEEE), International Institute of Refrigeration, and Sustainable Energy for All (SEforALL) hosted a session at #COP29 on tracking energy efficiency in the Global South. Experts Yosr Allouche, Ph.D, Marina Almeida, M.Sc., Uboho Ekpo, Graeme Maidment FInstR, Pramod Kumar Singh, and Bishal Thapa shared challenges and solutions shaping energy efficiency in the region. International Institute of Refrigeration’s Graeme stressed: When it comes to energy efficiency, we need to be lean, be clean, be green, and be seen. Meaning, we need to passively minimize the need for energy, use the best energy sources, reduce energy demand, and track monitor and promote progress. #ForPeopleForPlanet African Energy Commission of the African Union E+ Energy Transition Institute National Council on Climate Change Get more details on CLASP’s presence at COP29: https://lnkd.in/gj96ZPKz

Day 3 #ASECCC 2024 finished! In the last day of the conference, we gained insights into cross-border #GridIntegration and #EnergySecurity, as well as were inspired by sharings about smart #EnergyCommunities and the role of youth and women in #RenewableEnergy contribution. The high-level closing plenary "Roadmap to #COP29: Hold 1.5 °C Accountable" reminded us to prioritise the deployment of renewable energy solutions in #Asia and called on all stakeholders to take action to achieve our collective ambitions for a #SustainableFuture. "That's not just simply saying we think it's a good idea. There's a need for sustained political support. Governments need to be committed to this," said Matthew Wittenstein, Chief of Section, Energy Connectivity, UN ESCAP. Thank you all for participating in this 3-day virtual Asia Solar Energy for Climate Change Conference! Hope to see you again next time! #AsiaSolarEnergyforClimateChangeConference #JustEnergyTransition #SeeTheUnforeseen #AsiaConference #APAC #COP #ClimateChange #CarbonCareInnoLab #CCIL #SolarCareProgramme #JockeyClubCharitiesTrust United Nations ESCAP WWF Greater Mekong Global Forum on Energy Security Tetra Tech Hong Kong Baptist University UNDP in Asia and the Pacific Climate Finance Asia High-Level Climate Champions WWF-Hong Kong Long Duration Energy Storage Council (LDES Council) International Renewable Energy Agency (IRENA) Presidential Commission on Carbon Neutrality and Green Growth CITYNET AP

COP29 preview: What can we expect from this year? Last year’s COP boasted the largest number of attendees to date, with over 97,000 heads of state, government leaders, and industry figureheads making the journey to the UAE. But, does the number of attendees signify that change is on the way, or is it more room for verbal fodder? This year, as the world turns its attention to COP29 in Azerbaijan—another oil-rich nation—questions are surfacing about whether COP’s integrity and purpose are being upheld. So, what should we look out for? Here are the key topics and expected outcomes for #COP29 https://lnkd.in/grhsqzcn

#Climate #finance takes center stage at #COP29. The 29th Conference of the Parties to the United Nations Framework Convention on Climate Change, better known as COP29, is wrapping up in Baku, #Azerbaijan. The conference was attended by over 70,000 people, 60,000 of whom were guests from 169 countries. Among them were 80 world leaders, including heads of state and government. COP29 is expected to approve 14 initiatives, one of the most significant being the proposal to establish a Climate Finance Action Fund (CFAF) based in Baku. This facility aims to receive an initial contribution of $1 billion from fossil fuel-producing countries and companies. But, according to the 2022 report from the Independent High-Level Expert Group on Climate Finance, the most developing countries will need approximately $1 trillion annually by 2025 and $2.4 trillion annually by 2030 to meet their climate finance objectives [https://lnkd.in/e998YXku]. Despite significant negative trends in financing the green transition, investment in renewable energy continues to rise. Total global energy investment is expected to exceed $3 trillion this year for the first time, with approximately $2 trillion allocated to clean technologies, including renewables, electric vehicles, nuclear energy, grids, storage, low-emission fuels, energy efficiency, and heat pumps [https://lnkd.in/eCpCwzvU]. It is important to note that when the #Paris Agreement was reached in 2015, total investment in renewable energy for electricity generation was double that of fossil fuel power plants. This year, that figure is projected to increase tenfold, with solar power investments exceeding all other electricity generation technologies combined. Solar power investment is expected to reach $500 billion this year, driven by rapidly falling solar panel prices that encourage new investments [https://lnkd.in/eFcY9Mkp]. #China is set to invest at least $675 billion in clean energy this year, fueled by strong demand for solar power, lithium batteries, and electric vehicles [https://lnkd.in/eCCECyE7]. #Europe and the #US follow, with clean energy investments of $370 billion and $315 billion, respectively [https://lnkd.in/eRhMwykn]. These three economies account for over two-thirds of global clean energy investment, highlighting significant disparities in international capital flows into the new energy and the need to strengthen international cooperation. https://lnkd.in/ep4BYbp9