James Bennett’s Post

Once again in 2024 - in the surfacing of environmental data, so important to help the world's economy towards nature-positive decisions: • Two-thirds of global market capitalization disclosed through CDP.  • Close to 25k companies reported this year - and almost two-thirds of disclosed extended beyond climate data into nature-related information, an increase of 21% year-on-year • Over half of the reporters used CDP’s new SME questionnaire Thank you to all disclosers who worked so hard this year. You wrote that data once - and it will be used many times for critical insights and decisions.

After almost a decade of debate, the rules for the Paris Agreement’s global carbon market were approved on the first day of #COP29. But can the UN-backed global system address the international concerns and criticisms of carbon emissions trading? 🌎 https://bit.ly/3Zal3DR According to the COP29 president Mukhtar Babayev, the decision is “game-changing” as it enables climate action and channels “resources to the developing world.” However, as the world unpacks the consequences of this moment, some are worried that it could signal a reduced pressure on emissions reduction. The question is now: how can the agreement be effective? Our own Hana Abdelatty, MPP breaks it down for you in her new article 👉 https://bit.ly/3Zal3DR

The first day of COP29 saw a landmark decision with nations endorsing Article 6.4 of the Paris Agreement, clearing the path for the launch of a U.N.-backed global carbon market. Set to fund greenhouse gas reduction projects starting next year, this move is slated to scale up climate finance, particularly for developing nations, with 5% of carbon credits dedicated to the Adaptation Fund. While the decision signals progress, concerns remain over ensuring the integrity and effectiveness of carbon removal technologies within the market. Moving forward, balancing ambition with rigour will be key to ensuring environmental effectiveness and quality. #COP29 #ClimateAction #CarbonMarkets #ClimateFinance

COP29 Azerbaijan COP29 President Mukhtar Babayev is calling for a fair and ambitious New Collective Quantified Goal (NCQG) on Climate Finance. He emphasises that although the numbers may seem daunting, the benefits of inaction far outweigh the costs. In fact, investments in climate finance are not a burden, but an opportunity for growth and sustainability. As we move forward, resolving outstanding issues on Article 6 is long overdue. We need all parties to show commitment and flexibility to make progress. He asked parties to move fast in revising National Plans - Nationally Determined Contributions (NDCs) informed by Global Stocktake #COP29 #ClimateFinance #NCQG #ClimateAction #COP29Azerbaijan #MrGreen #MEA

As we enter the second week of #COP29 in Baku, it's critical to reflect on the progress made during the past week. The negotiations have yielded some progress, particularly with the consensus on the standards for Article 6.4. This advancement will open the international #carbonmarkets to facilitate resource allocation and set a precedent for climate action initiatives. May we all recognize that the responsibility to protect our planet for future generations firmly lies in our hands. Each one of us has a role to play in this global effort. Let's harness the energy and determination we've seen at Baku #ClimateAction Week to push for actions rather than commitments. Together, we realize a sustainable future. 🌍

𝗥𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝗹𝗶𝘃𝗲 𝗳𝗿𝗼𝗺 COP29 Azerbaijan, 𝗜’𝗺 𝘁𝗵𝗿𝗶𝗹𝗹𝗲𝗱 𝘁𝗼 𝘀𝗵𝗮𝗿𝗲 𝗮 𝗺𝗮𝗷𝗼𝗿 𝗺𝗶𝗹𝗲𝘀𝘁𝗼𝗻𝗲 𝗳𝗼𝗿 CDP   This year’s 𝗱𝗶𝘀𝗰𝗹𝗼𝘀𝘂𝗿𝗲 𝗰𝘆𝗰𝗹𝗲 𝗵𝗮𝘀 𝗲𝘅𝗰𝗲𝗲𝗱𝗲𝗱 𝗲𝘅𝗽𝗲𝗰𝘁𝗮𝘁𝗶𝗼𝗻𝘀, bringing critical data and insights into climate, forests, water, and nature—all vital as we advocate here for 'whole-of-economy' Nationally Determined Contributions (NDCs).   With improved NDCs at the heart of discussions here in Baku, today's news is a welcome shot in the arm for ambitious, trackable plans that drive a new approach to climate action.    In 2024, over 24,800 companies disclosed through CDP, representing two-thirds of global market capitalization. Over 3,500 companies reported across climate, deforestation, and water security.    This progress isn’t just about more data—it’s about the right data to drive real action. Companies disclosing at the request of investors reduce emissions by 7-10% within two years, showing the power of disclosing through CDP.   Read more about the progress here: https://lnkd.in/e8vU-XpE   #COP29 #CDP #Sustainability #ClimateAction

🎉 Breaking news from COP29: The conference of the parties to the Paris Agreement (CMA) has officially approved the new standards on methodologies and removals for the Article 6.4 Mechanism, setting the stage for a global carbon market. After years of standstill, this means that we now can work towards an official international stage for countries and companies to trade carbon credits. 👏 This development is encouraging for carbon dioxide removal (CDR), giving the world one more tool to meet global climate targets. More on Article 6.4 in our up-to-date Policy Tracker entry. 👉 https://lnkd.in/eUA6g9FN #Article6 #ParisAgreement #COP29

COP29 opened with a significant breakthrough in implementing the Paris Agreement as parties agreed on the standards for the establishment of a global carbon market. Now, the pressing question is how effective this market will work in practice to meet global emissions goals while ensuring the most vulnerable countries are not left behind. 🌱Read more in my new article for the Atlantic Council's Climate Resilience Center linked here: https://bit.ly/3Zal3DR

🌱 As the 16th UN Biodiversity Conference (COP16) comes to a close, attention turns to focus on the COP29 Climate Change Conference taking place in Baku, Azerbaijan. What will be the key areas of focus for this year's conference? How are actions being taken forward from agreements and progress made at COP28? And what are the gaps that nations are keen to close in meeting agreed climate targets? Nath Curtis, Partner in our Banking and Finance team, shares his thoughts on the issues likely to be discussed at what is being dubbed as 'the finance COP', key areas of focus in opening up access to climate finance and where the private sector can play an important role? Read more in our article on COP29 and the key themes and developments businesses need to be aware of 👇 https://gowlg.co/3Ys9c3t #COP29 #ESG

Both the COP 29 annual meeting dedicated to climate action, and its biodiversity counterpart COP 16, take place in the coming weeks. In a year when politics and the impacts of climate change have sometimes conflicted, accelerating global coordination and finance is increasingly urgent. Expectations for both meetings are low, but the potential is huge. Key takeaways: - COP 29 and its biodiversity counterpart COP 16 come at a time when new global temperature records have reinforced the urgency of climate action. - COP 29 is being billed as the “finance” COP, but expectations of meaningful progress appear modest. - Clarification on financing the transition, climate pressures on health, and the role of technology will be key topics. - The conference will set the tone for the next wave of sovereigns’ climate action plans. By Matt Christensen, Global Head of Sustainable and Impact Investing at Allianz Global Investors #AchievingSustainability #Sustainability #COP29 #COP16