COP29: Did The ‘Finance Cop’ Find Its Feet, And What Progress Was Made On Carbon Markets?

The annual leading international climate change conference, COP29, concluded in the early hours of 24 November. For companies and financial institutions, two key outcomes stand out: enhanced commitments to public and private climate finance, and significant progress on operationalising international carbon markets. In addition, several governments announced revised Nationally Determined Contributions, as well as multilateral pledges in relation to methane, deforestation, water and clean energy, amongst other sectors.

Our latest briefing here looks in more detail at:

• the $300 billion a year that’s been agreed as part of the ‘New Collective Quantified Goal’, where’s its likely to come from, and what else is needed; 
• the new carbon crediting mechanism that’s been created, and the additional clarity on country-to-country carbon rules that’s been achieved; and 
• a roundup of some of the key pledges that countries have made. 

See our earlier blog on COP29 here.