Fossil Fuel Non-Proliferation Treaty Initiative’s Post

From November 11–22, representatives from nearly 200 countries will come together to coordinate global climate action for the next year—an event referred to as COP29. TNC is working with policymakers to advance the critical role nature plays in combatting climate change. TNC’s three priorities at COP29 include phasing out fossil fuels, building climate-resilient societies and investing financial flows toward taking action against climate change. Check out TNC's guide to COP29 to learn what to expect from the event: https://nature.ly/3YWRjew #COP29

🌍 Will the next round of Nationally Determined Contributions (NDCs) drive faster progress toward net zero? NDCs are national climate action plans and targets, ushered in under the 2015 Paris Agreement. As countries prepare to gather for the next round of UN climate negotiations at COP29, we discuss whether the next round of NDCs can help to unlock more capital flows. Read the blog: https://lnkd.in/eSPMXh_5

These NDCs will set our trajectory to 2030, so we have to get them right. Investable NDCs is the right approach as we need private finance too. In 2012, 40% of the UK’s electricity was from coal and 4% RE. Now it’s 0% coal and 50% from clean, cheap renewable energy. The government didn’t build or pay for the RE, but set out policies and funding to attract private investment. When all hands get on deck, we can actually do this. We just need them on deck now.

🌍 COP29: A Global Carbon Trading Deal Paves the Way for Progress 🌱 At COP29 in Baku, nations achieved a landmark agreement to launch UN-governed carbon markets, showcasing a moment of unity and advancement in the global climate fight. This deal brings hope by addressing funding for climate adaptation and driving emissions reductions worldwide. While Donald Trump’s return to the White House raises questions about the U.S.’s climate commitments, the global movement toward green energy continues to gain momentum. Biden’s climate advisor emphasized that progress may face challenges, but it cannot be reversed. Check out the full article in comments ⬇

🌍 EU to support continued global climate action and push for ambitious finance and investment goals at COP29. Discover how the EU are setting new climate finance targets, advancing carbon-neutral investments, and working with international leaders to tackle critical climate goals. Dive into the full article to learn about the EU's strategies and ambitious commitments driving global climate progress. Stay ahead of incoming regulations—reach out to us at Eco Sourcing Hub! We’ll help you measure and manage your carbon emissions to guide your business toward net zero, ensuring you lead the way in sustainability. #sustainability #carbonreduction #netzero #ecosourcinghub https://lnkd.in/dEbtwCSW

FP Forum @ COP28 Against the backdrop of COP, where the stakes for collaborative action on climate comes to the fore, Foreign Policy hosted a morning of thoughtful discussions on decarbonization, carbon removal, and climate resilience efforts across sectors. Watch now.

#COP29 REDD+ Resource is out! In this edition we highlight our engagements at the COP, where we will spotlight forests as vital solutions for climate action and financial innovation. As with most international summits, the talks are likely to be tough and Baku will be the final COP before governments have to update their National Climate Action Plans in early 2025. One sticking point is Article 6 of the Paris Agreement on regulating the trading of carbon credits. Negotiations on carbon markets – a potential gamechanger for global collaboration and climate action - have been encouraging during the early parts of the conference although it is still early days. But with this year set to be the hottest on record, the urgent need for collective action to achieve net zero is clear.  Read more: https://lnkd.in/dyByn-FW #SaveForestsNow

As COP29 enters its second week, Simon Stiell, the Conference’s Executive Secretary, called on countries to “cut the theatrics” and focus on substantive negotiations to address the pressing climate crisis. Read more on: https://lnkd.in/gWZkTkBp #COP29Azerbaijan #COP29Baku #ClimateAction

💬 Despite the critical achievements of the COP process, it’s now time for a hard look at the future of climate summits, say Sandrine Dixson-Declève and Johan Rockström in a new piece for Reuters Events Sustainable Business. Alongside other global climate leaders, they call for a stronger and more efficiently designed COP that focuses on delivering all agreements at speed and scale to meet the most significant existential threat facing humanity. Read it now: https://ow.ly/75HF50U8V6c

At the COP29 conference, UN Secretary-General António Guterres delivered a compelling address highlighting the urgent need for intensified climate action. Some key takeaways for me include: 1) Immediate Emission Reductions of 9% annually to achieve a 43% reduction from 2019 levels by 2030. 2) Enhanced Climate Action Plans by next COP due to the widening gap between adaptation needs and available finance, which could reach up to $359 billion annually by 2030. 3) Reformed Climate Finance, addressing the financial challenges faced by developing countries, through a significant increase in concessional public finance, innovative funding sources by advancing the principle that polluters must pay and reforms in multilateral development banks to leverage more private finance. Through all this the aim should be to advance global goals to triple renewable capacity, double energy efficiency and half deforestation and reduce fossil fuel consumption by 30% by 2030. The clock is ticking! https://lnkd.in/ehckdAUj