The effects of climate change are increasingly being felt in all sectors of the economy, public budgets and other financing vehicles are starting to consider climate risk in their investment decisions, further expanding the definition of climate finance (Countries like the Maldives, for example, consider all finance to be climate finance since their entire economy and survival is so dependent on climate resilience).
As COP29 opened, the UN weather agency, WMO, released its State of the Climate 2024 Update and issued a Red Alert on the rapid progression of climate change within a single generation, driven by rising levels of greenhouse gases in the atmosphere. From January to September 2024, the global mean surface air temperature was 1.54 °C (±0.13°C) above the pre-industrial average, amplified by a warming El Niño, according to an analysis of six international datasets used by the WMO. Climate catastrophe is battering health, deepening inequalities, hindering sustainable development, and shaking the foundations of peace. The most vulnerable are the hardest hit,” stated UN Secretary-General António Guterres. At the conclusion of the COP29 in November 2024, the following emerged; 1. At what's being called the ‘climate finance COP’, representatives from all countries are expected to establish a new global climate finance target. This target, or new collective quantified goal (NCQG), is seen as one of the summit's main deliverables. 2. Parties are looking to take steps towards operationalizing the ‘loss and damage fund’ agreed at COP28 and seen as the key international fund that would address climate change’s unavoidable harms. 3. All countries are expected to submit new climate targets – nationally determined commitments (NDCs) – by February 2025, ensuring their commitments align with the level of emissions reductions necessary for limiting global temperature rise to 1.5 degrees C and preventing some of the worst effects of climate change. 4. Negotiators are looking to complete the guidelines necessary to fully operationalize Article 6 of the Paris Agreement, which permits nations to voluntarily cooperate on meeting emission reduction goals outlined in their NDCs. Among other things, Article 6 would allow them to exchange carbon credits produced by eliminating or cutting their greenhouse gas emissions, assisting other nations in achieving their climate targets. 5. By submitting their first biennial transparency reports, mandated by the Paris accord to demonstrate how individual nations are addressing climate change, including their efforts to strengthen adaptation plans or reduce greenhouse gas emissions, countries are expected to increase transparency surrounding their national climate actions. In all these endeavors professionals will be key in driving the needed change to actualize the motion to picking up the pace and delivering.Join us on the 2nd Professionals Summit on Climate Action conversation on:
The benefits from the summit include:
Who to attend:
With effect from 1 January 2024, foreign nationals, regardless of nationality, can enter Kenya without a visa for tourism or business travel for stays up to 90 days. Travelers must, however, obtain a new Electronic Travel Authorization (eTA). The Electronic Travel Authorization (eTA) can be obtained from the link https://www.etakenya.go.ke/en.
Nairobi is an attractive destination, excellent for business and safari. For more information or assistance write to hello@edmanyconsult.com or info@edmany-consult.com.