Spotlight on COP29: Key Climate Finance Priorities at Sustainable Finance Week Ireland 2024

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As COP29 unfolds in Baku, Azerbaijan, world leaders are gathering to address critical climate challenges and shape the future of climate finance. Sustainable Finance Week Ireland 2024 (SFWI 2024), running from November 25–29, will build on these discussions to explore how we can turn climate finance priorities into action. Here’s a look at some of the key issues on the table and how they’ll be examined during SFWI 2024.

1. Setting a New Global Target for Climate Finance

At what is being referred to as the “Climate Finance COP,” COP29 delegates from around the world are expected to establish a new global target for climate finance, known as the New Collective Quantified Goal (NCQG). This target will replace the current $100 billion goal, which is set to expire in 2025. As nations work toward a new funding goal, SFWI 2024 will explore what this means for Ireland, the UK, and the broader global community, focusing on how these ambitious targets can be implemented and supported by financial institutions.

2. Advancing the Loss and Damage Fund

One of the most pressing issues at COP29 is advancing the Loss and Damage Fund, which was established at COP28. This fund serves as a crucial international mechanism to address the unavoidable impacts of climate change, particularly for vulnerable nations. At SFWI 2024, we’ll discuss the role of finance in supporting adaptation and recovery efforts and how this fund could be a game-changer in addressing the realities of climate-related losses.

3. Aligning Climate Commitments with a 1.5°C Target

By February 2025, all countries are expected to submit updated climate targets, known as Nationally Determined Commitments (NDCs), which should align with the reductions needed to limit global temperature rise to 1.5°C. These commitments are essential for averting the most severe impacts of climate change. SFWI 2024 will provide a platform for discussing the strategies and actions required to meet these targets, focusing on how financial institutions and governments can collaborate to drive meaningful progress.

4. Implementing Article 6 and the Role of Carbon Markets

Negotiators at COP29 are working to finalise the guidelines for Article 6 of the Paris Agreement, which enables countries to collaborate on emission reduction targets. This provision also allows for the trading of carbon credits, enabling nations to support each other in meeting their climate goals. During SFWI 2024, experts will discuss the potential of carbon markets and international cooperation as tools for achieving climate objectives and mobilising capital for a sustainable future.

5. Enhancing Transparency with Biennial Reports

Transparency is a critical aspect of climate action. Countries are now expected to submit Biennial Transparency Reports under the Paris Agreement, outlining their climate actions and adaptation efforts. These reports are intended to provide a clearer picture of global progress. SFWI 2024 will delve into how transparency and accountability can be strengthened across the finance sector, highlighting the role of reporting in achieving climate goals.

Join Us at SFWI 2024

SFWI 2024 will provide a unique opportunity to engage with leaders, policymakers, and industry experts who are at the forefront of sustainable finance. With COP29 setting the stage, SFWI 2024 will be the place to discuss how we can turn climate finance priorities into actionable strategies that make a difference.

Be part of the conversation, connect with like-minded professionals, and contribute to shaping a sustainable future. Register now and secure your place at Sustainable Finance Week Ireland 2024.

Register Now
Sustainable Finance Week Ireland 2024 banner promoting the theme '5 Key Priorities for Advancing Climate Finance at COP29,' with flags from various countries in the background. Includes a 'Book Now' button linking to sustainablefinanceweek.org, and organiser, supporter, and sponsor logos. Graphic titled '1 Key Priorities for Advancing Climate Finance at COP29,' highlighting the New Collective Quantified Goal (NCQG). Text discusses the expected setting of a new global climate finance target to replace the $100 billion goal expiring in 2025. Organiser, supporter, and sponsor logos are displayed. Graphic titled '2 Key Priorities for Advancing Climate Finance at COP29,' focusing on the Loss and Damage Fund. Text describes advancing this fund, established at COP28, to address the impacts of climate change. Organiser, supporter, and sponsor logos are displayed. Graphic titled '3 Key Priorities for Advancing Climate Finance at COP29,' focusing on Nationally Determined Commitments (NDCs). Text explains that all countries must submit climate targets by February 2025 to limit temperature rise to 1.5°C. Organiser, supporter, and sponsor logos are displayed. Graphic titled '4 Key Priorities for Advancing Climate Finance at COP29,' featuring Article 6 of the Paris Agreement. Text discusses enabling countries to trade carbon credits and collaborate on emission reduction targets. Organiser, supporter, and sponsor logos are displayed. Graphic titled '5 Key Priorities for Advancing Climate Finance at COP29,' focusing on transparency. Text highlights the requirement for countries to submit their Biennial Transparency Reports under the Paris Agreement, showcasing climate change efforts, adaptation strategies, and emission reductions. Organiser, supporter, and sponsor logos are displayed. Sustainable Finance Week Ireland 2024 event banner with the theme 'Accelerating the Future of Finance: Innovating for a Sustainable Tomorrow' and a 'Book Now' button linking to sustainablefinanceweek.org. Logos for organisers, supporters, and sponsors are displayed at the bottom.
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