Ikigai Engineering

Merry Christmas and a Happy New Year to you all! Thank you to all our amazing colleagues and clients who have supported us through this memorable year, we are incredibly grateful for your loyalty and support! Here’s to growth, success, and making a difference in the coming year! Devaksha Maharaj

How can we effectively integrate intermittent renewables, upgrade aging infrastructure, and balance real-time supply and demand? "The Role of Technology, Policy, and Design in Grid Decarbonization" discusses the critical challenges facing our energy grid. Listen now: https://loom.ly/nrJlY9Y #Decarbonization #CleanEnergy #EnergyManagement Ryun Singh

During the first week of COP29, significant attention was given to global pledges aimed at advancing climate action. Key highlights include: 1. Tripling Renewable Energy Capacity: A reaffirmation of the target to triple global renewable energy capacity to over 11,000 GW by 2030, a commitment first emphasized at COP28. This target aims to transition energy systems away from fossil fuels, particularly in underserved regions. Emphasis was placed on scaling solar, wind, and hydropower capacity to achieve the Paris Agreement goals. 2. Doubling Energy Efficiency: A pledge to double energy efficiency by 2030 was discussed, focusing on reducing energy demand while cutting emissions. This effort ties directly to maintaining the critical 1.5°C global temperature threshold. 3. Energy Storage and Grids Initiative: COP29 launched the "Global Energy Storage and Grids Pledge" to enhance the infrastructure required for renewable energy distribution. This initiative will focus on expanding storage technologies, like advanced batteries, and improving transmission grids. 4. Hydrogen Declaration: A commitment to accelerate hydrogen infrastructure development was introduced, emphasizing its potential to decarbonize sectors like transportation and heavy industry. 5. Green Energy Corridors: Plans to create international corridors for renewable energy transmission were announced to better connect renewable-rich areas with high-demand regions. 6. Inclusivity and Equity: Developing nations' needs were central to the discussions, with initiatives targeting equitable access to clean energy through financial and technological support. The proposed Climate Finance Fund seeks to mobilise investments in clean energy projects in low-income countries. These global pledges are designed to enhance climate ambition and complement formal UNFCCC negotiations while accelerating the global energy transition. The first week set a tone of urgency and collaboration, as negotiators work towards concrete actions and commitments in the remaining sessions. The outcomes will be crucial for accelerating global efforts to mitigate and adapt to climate change. Devaksha Maharaj

Today at the High-level panel titled “Climate and Peace: Enabling Joint Action to Leave No One Behind”, the COP29 Presidency launched the Baku Call on Climate Action for Peace, Relief, and Recovery (BCCAP), a milestone initiative aimed at addressing the urgent nexus of climate change, conflict, and humanitarian needs. This initiative responds to the growing recognition that the adverse effects of #climatechange can act as catalysts for conflict and instability, especially in the most climate-vulnerable regions. #COP29 #COP29Azerbaijan

Final day for registration. Follow this link:- https://lnkd.in/dJkytK6t Devaksha Maharaj

At COP29 this year in Baku, Azerbaijan, the United Nations and COP29 want world leaders to reach a historic deal on climate finance. Join the ''COP29 Daily Show'', in partnership with Hi-Impact, every day of the summit, for all the explanation you need about what's on the table in Azerbaijan! #COP29 #COP29Azerbaijan

In the last few days at COP29, commitments related to climate change have garnered significant attention, with numerous nations ramping up their pledges to meet the Paris Agreement's 1.5°C goal. The conference has called for countries to revise their Nationally Determined Contributions (NDCs) by early 2025, focusing on enhanced emissions reductions by 2030 and new targets for 2035. These conversations have underscored the pressing need for quicker and more substantial emission reductions, especially in high-emission sectors such as energy and industry. The WEF reports that fossil fuel dependency has also been widely debated, with many representatives advocating for an accelerated transition away from coal, oil, and natural gas. Some parties are pressing for clearer, binding language to phase out fossil fuels entirely, which would mark a stronger stance than previous COPs. Additionally, there’s a strong emphasis on transitioning to renewable energy sources, with calls for a global increase in renewable capacity to help meet emission reduction targets. Discussions have also highlighted the importance of adaptation measures, particularly for countries already facing climate-induced challenges. This includes enhancing climate resilience in vulnerable areas, building sustainable infrastructure, and integrating climate-smart practices in agriculture and urban planning. Finance discussions continue with negotiations underway on climate finance responsibilities. Follow us for updates as COP29 heads into Day 4.

Devaksha Maharaj

Conference of the Parties, COP29, currently underway in Baku, Azerbaijan, is being termed the Finance COP due to its focus on establishing a new global climate finance goal that replaces the previous 100 billion USD annual target for developing nations. This updated target aims to address the financial needs of these countries extensively, with an estimated requirement of 500 billion USD to 1 trillion USD annually. Initial discussions continue around efforts to establish a transparent monitoring system for climate finance under the New Collective Quantified Goal (NCQG) framework. This is expected to be central in rebuilding trust among donor and recipient nations. Following COP28's establishment of a Loss and Damage Fund to aid countries facing unavoidable climate impacts, COP29 discussions focus on operationalising this fund, ensuring contributions, and developing frameworks for effective disbursement. There is also a focus on attracting private sector finance through mechanisms like green bonds and sustainable investments, as public funding alone is insufficient. This emphasis on finance reflects a growing recognition that climate change solutions depend not only on policy but on sustainable and equitable financing frameworks to support both immediate and long-term resilience and adaptation efforts Follow us for more updates on the daily proceedings.

We are pleased to be partners to the launch of the Southern African Leaders Network in Gauteng. #inspireinclusion #intentiontoimpact Devaksha Maharaj Unnati Training Academy NPO