COP29: Innovation, not funding, holds the key to tackling climate change

Policymakers are missing a key point - there are few new and scaled-up technology solutions to mitigate climate change

Climate finance has been a key focus for world leaders at the COP29 Summit, which took place from November 11 to November 24 in Baku, Azerbaijan.

 

In his opening remarks, UN Secretary-General António Guterres said, “The world must pay up, or humanity will pay the price…climate finance is not charity, it’s an investment.”

 

A bold and ambitious statement. The end goal is to support developing countries to effectively cut down on greenhouse gas emissions and protect their people from drastic impacts of climate change.

 

By the end of the summit, a climate finance goal was set, with an annual target