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DAR ES SALAAM, Tanzania, January 29, 2025/ — Thirty African Heads of State and government today committed to concrete reforms and actions to expand access to reliable, affordable, and sustainable electricity to power economic growth, improve quality of life, and drive job creation across the continent.
The leaders pledged their commitment in a declaration during the two-day Mission 300 Africa Energy Summit in the Tanzanian commercial capital, Dar es Salaam. Mission 300 partners pledged more than $50 billion in support of increasing energy access across Africa.
The Dar es Salaam Energy Declaration represents a key milestone in addressing the energy gap in Africa, where more than 600 million people currently live without electricity.
The commitments in the Declaration are a critical piece of the Mission 300 initiative, which unites governments, development banks, partners, philanthropies, and the private sector to connect 300 million Africans to electricity by 2030. The Declaration will now be submitted to the African Union Summit in February for adoption.
By addressing the fundamental challenge of energy access, Mission 300 serves as the cornerstone of the jobs agenda for Africa’s growing youth population and the foundation for future development.
Twelve countries—Chad, Côte d’Ivoire, Democratic Republic of Congo, Liberia, Madagascar, Malawi, Mauritania, Niger, Nigeria, Senegal, Tanzania, and Zambia—presented detailed National Energy Compacts that set targets to scale up electricity access, increase the use of renewable energy and attract additional private capital.
These country-specific plans are time-bound, rooted in data, endorsed at the highest level and focus on affordable power generation, expanding connections, and regional integration.
They aim to boost utility efficiency, attract private investment, and expand clean cooking solutions. Deploying satellite and electronic mapping technologies, these compacts identify the most cost-effective solutions to bring electricity to underserved areas.
“Tanzania is honored to have hosted such a monumental summit to discuss how, as leaders, we will be able to deliver on our promise to our citizens to provide power and clean cooking solutions that will transform lives and economies,” said H.E. Dr. Samia Suluhu Hassan, President of the United Republic of Tanzania.
Implementing the National Energy Compacts will require political will, long-term vision and the full support from Mission 300 partners. Governments are paving the way through comprehensive reforms, complemented by increased concessional financing and strategic partnerships with philanthropies and development banks to catalyze increased private sector investment.
Dr. Akinwumi A. Adesina, President of the African Development Bank Group, emphasized the need for decisive action to accelerate electrification across the continent. “Critical reforms will be needed to expand the share of renewables, improve utility performance utilities, ensure transparency in licensing and power purchase agreements, and establish predictable tariff regimes that reflect production costs.
Our collective effort is to support you, heads of state and government, in developing and implementing clear, country-led national energy compacts to deliver on your visions for electricity in your respective countries.”
“Access to electricity is a fundamental human right. Without it, countries and people cannot thrive,” said Ajay Banga, President of the World Bank Group. “Our mission to provide electricity to half of the 600 million people in Africa without access is a critical first step. To succeed, we must embrace a simple truth: no one can do it alone. Governments, businesses, philanthropies, and development banks each have a role—and only through collaboration can we achieve our goal.”
During the summit, partners announced a series of commitments:
The firm commitments made by governments and partners at the summit demonstrate the unique power of the Mission 300 partnership. By combining government reforms, increased financing, and leveraging public-private partnerships, African countries are positioned to turn plans into action, delivering tangible benefits to millions of people.
The Mission 300 Africa Energy Summit was hosted by the United Republic of Tanzania, the African Union, the African Development Bank Group (AfDB), and the World Bank Group (WBG), with support from the Rockefeller Foundation, ESMAP, Global Energy Alliance for People and Planet (GEAPP), Sustainable Energy for All (SEforALL) and the Sustainable Energy Fund for Africa.
Abu Dhabi, United Arab Emirates, 12 January 2025 – The 15th Session of the International Renewable Energy Agency (IRENA) Assembly convenes today, January 12, 2025, in Abu Dhabi, marking the first international energy meeting of the year. Under the theme ‘Accelerating the Renewable Energy Transition – The Way Forward,’ the two-day meetings will bring together ministers and high-level delegates from IRENA’s 170 Member States, academia, development banks, CEOs and youth to enhance wider, cross-sectoral collaboration on the energy transition.
Key discussions will focus on tripling renewable energy capacity by 2030, enhancing ambition in Nationally Determined Contributions (NDC 3.0), supporting transitions in emerging economies, and leveraging innovative financial flows in developing countries.
“The world is undergoing rapid transformation, driven by a shifting geopolitical landscape and technological breakthroughs such as artificial intelligence,” said IRENA Director-General Francesco La Camera. “Amid these changes, renewables must remain a top global priority as the most effective way to keep climate and sustainable development goals within reach. The 15th IRENA Assembly provides a critical platform to navigate the energy transition, explore emerging opportunities, and identify actionable priorities for 2025 and beyond.”
“No country, regardless of its size, can achieve this transition alone. The energy transition is a shared responsibility, requiring unity and collective action,” said H.E. Bojan Kumer, Slovenia’s Minister of the Environment, Climate and Energy. “Slovenia firmly believes in the potential for collaboration, as we all face common challenges in achieving a just, inclusive, and competitive energy future and enhancing climate ambition. As the 15th IRENA Assembly President, Slovenia is committed to fostering dialogue and partnerships that unlock the vast potential of renewables, ensuring they remain at the heart of decarbonization efforts worldwide.”
“For 15 years, the UAE has proudly hosted IRENA, providing a global platform for the critical dialogues and collaborations needed to drive the energy transition forward at pace and scale,” said H.E. Dr. Amna Al Dahak, Minister of Climate Change and Environment of the UAE. “As a nation at the forefront of driving this transition, we are committed to leading by example, by investing in renewable energy innovations, advancing smarter grid technologies, and championing solutions to address and overcome the unfolding climate crisis. The 15th IRENA General Assembly is an opportunity to demonstrate the power of international cooperation in shaping a sustainable and resilient future, with the UAE remaining a steadfast partner and catalyst for global energy security and sustainability.”
Given the urgent need for political momentum and international cooperation, several Ministerial and High-level were held yesterday, on Pre-Assembly Day, January 11, 2025, to facilitate interaction among decision-makers and inform the future work of the Agency.
The 15th IRENA Assembly also kick-starts the 2025 edition of Abu Dhabi Sustainability Week (ADSW), taking place from January 12–18 in Abu Dhabi, where heads of state, ministers, high-level delegates, and experts will meet to accelerate the world’s sustainability efforts.
SOURCE
IRENA
Story: Mohammed A. Abu
The people of the West African nation of Ghana during the country’s 2024 elections, demonstrated their collective commitment towards the use of their thump power in the change of political administrations bolstered by the long established transition order of peaceful transfer of political power from one administration to another.
Flashback
Following the restoration of democratic governance in Ghana by a former military ruler J.J. Rawlings in 1992 became a civilian ruler under the forth Republic Constitution and was in power for two terms from 1992-1996.
He was to lose power during the 2000 elections to former President J.A. Kufuor-led opposition, the New Patriotic Party(NPP). This marked a turning point in Ghana’s democratic governance-change of political power through the ballot box and transfer of political power from one political administration to another.
Coming against this democratic political background, Former President John Dramani Mahama and her running mate, Jane Naana Opoku-Agyemang following their party, the National Democratic Congress(NDC)’s victory in the 2024 elections, were yesterday sworn in as the country’s new President and her first ever female Vice President respectively.
The oath of allegiance and Presidential oaths were administered by Chief Justice Gertrude Torkornoo at the Black Star Square in the country’s capital city of Accra.
President Mahama in his inaugural address, promised to focus on economic recovery, governance reforms, and accountability, called for a national reset to rebuild faith in Ghana’s institutions and leadership, introduction of a 24-hour economy model to create jobs and stimulate industries and strengthening of regional and international partnerships.
He underscored the importance of tackling youth unemployment and gender equality celebrating Jane Naana Opoku-Agyemang’s historic role while also urging business leaders and entrepreneurs to join in building a business-friendly Ghana
“I feel greatly honoured that Ghanaians deemed me worthy to steer the affairs of this country at this critical stage,” Mahama said, expressing gratitude for the trust placed in him by the electorate.
President Mahama also recounted how far he and the outgoing President Nana Akoffu Addo have come together in their political careers that transcended into mutual respect for each other despite the fact that, they belong to two opposing political camps.
He also praised the election campaign of former Vice President Dr. Mahmudu Bawumia while also acknowledging his early conceding of defeat that helped defuse political tension that was building up in the country.
The Special Guest of Honour, President Tinubu of the Federal Republic of Nigeria wished President Mahama well in his national assignment the success of which he said was good for Nigeria, Ghana and Africa.
He also assured President Mahama of his unwavering support towards his commitment to strengthening of regional partnerships. Which he noted was good for Nigeria, Ghana and Africa as a whole.
External Patronage
Africa
The inauguration enjoyed patronage across the continent from the Western, Central, Eastern, Southern and Northern sub-regions. In attendance were over twenty-one sitting Presidents and former Presidents and Prime Ministers, representing their respective countries were at the ceremony.
Also in attendance were the President of Africa’s premier bank, the African Development Bank(AfDB) and President of the ECOWAS Bank for Investment and Development.
International
Also in attendance were the Mayor of Los Angeles, US, Prime Minister of Haiti, former German Vice President, and high profile representatives from China, Japan, Arab Gulf region, Russia, and Israel were in attendance. Also in attendance were also Envoys from the AU, EU and UN.
What to Expect?
President John Dramani Mahama has outlined focus areas of his new administration in the first 10 days.
In expectation are executive orders to address inflation, currency stabilization, and debt management, along with steps to review tax policies to ease the burden on businesses as economic stabilization measure, announcement of first wave of government appointments, including the Finance Minister, Attorney General, and other critical positions, focus on anti-corruption measures, empowering institutions to ensure transparency and recovery of public funds under an accountability drive, Presidential meeting with business leaders to reaffirm that Ghana is open for business and outline plans for a 24-hour economy,and the launching of job creation initiatives, with a focus on youth employment and entrepreneurship
Cover Photo: Credit,Ghana Broadcasting Corporation(GBC)
By: Mohammed A. Abu
Following the generally peaceful Presidential and Parliamentary elections held on December 7, in the West African nation of Ghana, the Chairperson of the country’s Electoral Commission(EC), Jean Mensa, on December.9, declared the country’s former President John Dramani Mahama as the winner of the country’s 2024 Presidential elections and President elect.
According to Jean Mensa, who is also the EC’s returning officer, Mr. John Mahama polled 6,328,397 representing 56.55% of the total ballot cast, while his main contestant, the vice president and presidential candidate of the governing New Patriotic Party (NPP), Dr Mahamudu Bawumia on his part, secured 4, 657, 304, representing 41.61%.
“As a commission, we have fulfilled our vowed aspiration to have transparency at the heart of our operations”, she said as she declared the results” adding, “voters choce as expressed in the polls are sacrosanct”.
President elect, Mr. John Dramani Mahama in his maiden post-election speech, vowed to “initiate important governance reforms and sometimes severe measures” over the next four years to reset the nation and bring it back on track as “the Black Star of Africa.”
“This mandate represents a call to action… This mandate marks a new beginning and sets the tone for a new direction for our beloved country. Ghana is not for one man or one family. It is for all of us, and we must not only be born and die here, but we must all live here with satisfaction,”
He also thanked Ghanaians both in Ghana and abroad for continuing to believe in Ghana’s democracy despite the challenges.
Prior to the official announcement of the Presidential election results by the EC Chairperson, Dr. Mahmud Bawumia, on December,7,had congratulated and conceded defeated to his main contestant, John Dramani Mahama now President elect of the National Democratic Congress(NDC).
Mahamudu Bawumia stated that his decision to concede ahead of the official announcement was aimed at reducing tension and upholding the country’s reputation as a beacon of democracy in Africa.
“I said during the signing of the peace pact that I was sure of two things: Ghana will win, and peace will reign,” Dr. Bawumia recounted.
“The people of Ghana have spoken. The people have voted for change at this time, and we respect that decision with all humility.”
“It is important that the world investor community continues to believe in the peaceful and democratic character of Ghana. These are our most important assets,” Dr. Bawumia intimated, while reiterating his commitment to the nation over personal political ambitions.
Dr. Bawumia expressed pride in his campaign and gratitude to the NPP for their support, while gracefully acknowledging the electoral outcome as part of the democratic process. “We put our best foot forward in the contest, explaining our policies and programs. However, it is sometimes the case that the voter would have other ideas,” he observed
He pledged the NPP’s support for a seamless transition to the new government and assured Ghanaians that the party would adopt a constructive approach as the opposition.
“We will not be a disruptive opposition, even though we will subject government actions and policies to strict scrutiny in the interest of our beloved nation,” Dr Bawumia stated.
RABAT, Morocco, December 6, 2024/ —
The Africa Investment Forum kicked off its 2024 Market Days in Rabat, Morocco, with leaders highlighting the continent’s bankability and readiness for investment.
In her welcoming remarks, Morocco’s Minister of Economy and Finance Nadia Fettah Alaoui told more than 1,000 delegates that this year’s Forum was a critical moment for creating a prosperous Africa: “The long-awaited rise of our continent rests on securing financing and we must act collectively to achieve this”.
She further emphasized: “I’m deeply convinced that the Africa Investment Forum 2024 will be a privileged opportunity to enrich our common reflection, explore innovative solutions to persistent challenges, while strengthening the strong partnerships to make our aspirations a reality.”
The president of the African Development Bank Group, Dr. Akinwumi Adesina, chairman of the Africa Investment Forum, said capital must be deployed to meet opportunities. “I am fully convinced that the accelerated development of Africa requires greater mobilization of private capital.”
Under the theme “Leveraging innovative partnerships to scale up (http://apo-opa.co/4iyOYOS),” this year’s Market Days event brings together over 500 business leaders and SMEs to discuss why Africa, with 39% of the world’s population under the age of 20 and a market of 2.5 billion consumers by 2050, is the place to invest today and in the future.
Adesina announced that $15 billion in deals have already been originated this year, with 41 boardrooms ready for follow-up discussions on diverse African investment opportunities spanning mining, water and sanitation, food and agriculture, renewable energy and transportation and seaports.
“The theme of this Africa Investment Forum is leveraging at scale. It’s about how to make things happen at scale for Africa,” Adesina said. “Africa doesn’t have time for Mickey Mouse investments, we need investment at scale. We must make room for capital to be deployed to meet opportunities in Africa. At the Africa Investment Forum, this is the driving principle that brought us together as founding members.”
The forum is an initiative of nine development finance institutions—the African Development Bank, Africa50, Afreximbank, the Development Bank of Southern Africa, the Islamic Development Bank, the European Investment Bank, Trade and Development Bank the Africa Finance Corporation, and the Arab Bank for Economic Development in Africa.
A prime example of the collaborative partnership by the Forum’s founding partners is the Lobito Corridor in Angola, a $10 billion infrastructure project featuring rail, road, bridges, telecommunications, energy, and agribusiness developments. Key project partners include the African Development Bank which committed about $500 million, Africa Finance Corporation, serving as overall Project Developer and the Development Bank of Southern Africa which leads the first project phase.
The corridor will create thousands of jobs and facilitate regional integration across Angola, Democratic Republic of Congo, and Zambia. The United States (http://apo-opa.co/4fRM5qx) and the European Commission are among global partners who signed a Memorandum of Understanding (http://apo-opa.co/3ZFi8Ex) in October 2023 to mobilise resources for the Lobito Corridor.
Highlighting Africa’s mineral potential, he noted that the continent possesses 90% of the world’s platinum, 95% of its chromium, and two-thirds of global cobalt.
“With 30% of the world’s lithium Africa is a key part of the Electric Vehicle market. This $7 trillion market will grow to $59 trillion by 2050. With strategic investment, Africa can become a great energy hub for the world,” he added.
Citing an Asset Managers’ survey, Adesina revealed that 85% of managers expect to increase private capital allocation to Africa, while 52% anticipate Africa’s private capital becoming more attractive in the next five years.
“Our focus is on a triple mandate, to advance high-impact projects to bankability, raise capital and accelerate the closure of deals. By focusing on investment facilitation for Africa, the Africa Investment Forum has become the premier investment platform for Africa,” Adesina said.
Since its inception in 2018, the Africa Investment Forum has generated $180 billion of investor interests and closed transactions worth $30 billion.
During a panel discussion, representatives of the founding partners shared practical cases of projects their respective institutions have engaged in through partnership with private entities and governments.
With three days of market days now underway in Rabat, Adesina’s rallying cry resonates:
“Africa is bankable – let the deals begin!”
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Media contact:
Peter Burdin
Communication and External Relations Department
media@afdb.org
By: Mohammed A. Abu
The second edition of African Continental Engineering, Architecture, Construction and Real Estate Summit(ACEACRES,2024) the flagship event of the Africa Continental Engineering & Construction Network Ltd (ACECN),the organizing company, recently ended successfully in Ghana’s capital city of Accra with a clarion call on the need to include sustainability practices especially in Ghana, Africa’s Sustainable Urban Built Environment.
Professor, Taddeo Rusoke, a Ugandan Governance and Nature Solution Expert said, the sustainability practices included, allowing space for Green Belts, Green Spaces, Green Natural Gardens, Flower Gardens, Backyard Gardens, and Tree Growing.
This he noted, will contribute to ambient environment that is naturally aerated by trees. Prof Busoke was one of the Key Speakers who made a presentation titled, “The Future of Forest Conservation in the Wake of Rising Global Housing Demand”
In his concluding remarks, Mr. Daniel Kontie the convenor and CEO of ACECN, in partnership with other industry stakeholders, stressed the need to rotate the Summit across the African continent.
Even though he was emphatic about holding the third edition in Ghana, he added that subsequent editions will either be hosted by Nigeria or Uganda in a rotating order.
Held under the theme, “INTEGRATING SUSTAINABLE BUILT ENVIRONMENT FOR SOCIO-ECONOMIC TRANSFORMATION THROUGH THE USE OF NEW GENERATION TECHNOLOGY AND GENERATIVE ARTIFICIAL INTELLIGENCE”., the event brought together all sector players across the African continent and beyond to discuss industry best practices, modern innovations and technologies that are shaping the future of built environments across the globe.
The event attracted a wide range of stakeholders in the built environment; the building contractors, construction firms, engineers, surveyors, planners, architects, project managers, land economists, real estate developers, builders, landscaping professionals, real estate professionals, building construction, professional Institutions, investors among others
The Summit recorded a little over three hundred (300) in-person participants from Nigeria, Uganda and the United States of America (USA), with majority from the host country Ghana.
Africa
Nigeria
Some of the high profile in-person participants from the African Continent were the keynote speaker Madam Engr. Margaret Aina Oguntala, FNSE, President, Nigerian Society of Engineers (NSE) Engr. Olu Ogunduyile FNSE Vice President, Council for the Regulation of Engineering in Nigeria (COREN), Engr Dr. Modasiru Bola J. (Principal Partner, Prolarank Nigeria Ltd and General Secretary, the Nigerian Institution of Highways and Transportation Engineer (NIHTE), Dr. Bldr. Abdulhakkeem Odegade, MD/CEO, Akmodel Group, Lagos, Nigeria,
Mr, Stephen Merritt, USA, Roadbond EN1 & Technical Consultant, Jemba Solutions etc.
Ghana
Among the local industry leaders present were Ing. Isaac Bedu, Registrar, Engineering Council, Ghana, Engr. Seth Ayim, Executive Director, Institute of Engineering and Technology Ghana (IET-GH), Engr. Ben Debrah, National President, Local Government Service Engineers (LoGSEA), Engr. Awal Sakib Mohammed, National President, Ghana Electrical Contractors Association (GECA), Dr. Ebenezer Mireku, President, Commercial Quarry Operators Association (COQOA), Mr. Samuel Nii N. Tackie, National Vice President, Certified Electrical and Wiring Professionals Association (CEWPAG), Engr. Jacob Ansong, National President, Ghana Institution of Real Estate Brokers (GhIREB), Dr. Gabriel Apotey, member, Ghana Institute of Safety and Environmental Professionals (GhISEP) etc.
East Africa
Uganda
Prof. Taddeo Rusoke, Climate Governance & Nature-Based Solutions Expert, Uganda, East Africa, Dr. John Rwakihembo, PhD (Accounting & Finance): Dean, Faculty of Business and Management Sciences, Mountain of the Moon University, Uganda, East Africa
North America
USA
Mr., Stephen Merritt, USA, Roadbond EN1 & Technical Consultant.
Issues Discussed
Among the key issues discussed at the event was the urgency of integrating the African Built Environment, about which Mr. Daniel Kontie the convener of ACEACRES, 2024 and the CEO of the organizing company, the Africa Continental Engineering & Construction Network spoke passionately about.
He added that, integration makes the cake no longer a national cake but a continental cake bigger than what anyone can bite hence making the opportunities bigger for all industry players.
The others were major factors affecting the industry growth, the impact of AI on the built environment, the adoption of sustainability and how industry issues affect the delivery of housing and infrastructure in Ghana and Africa at large.
Opportunity for Sponsors
Sponsors had the opportunity to engage in B2B, B2C networking opportunities, with some connected with manufacturers, distributors, wholesaler’s retailers as well as end consumers. Many had the opportunity to meet potential investors, enhanced their brand visibility, generated real time leads, gained industry insights, modern trends, identified new business opportunities, sealed partnership deals, shared product knowledge and utility information with potential customers, demonstrated their unique selling proposition to potential customers, built strong network with influential industry players, connected with top-rated projects /contractors/professionals in Ghana and across the African continent etc.
What Participants Stood to Gain
Participants on their part,had the opportunity to network with industry leaders, access to cutting edge insights and new trends, learnt from successful case studies, built personal capacity for resilience, exposed to new business opportunities, gained inspiration and motivation from industry thought leaders, built relationship with potential employers/employees and mentors, accessed innovative products, met with potential investors, shared their perspective during Q&A session, identified lucrative business niches in the industry et cetera.
Event Partners
The event Partners include, the Ghana Institution of Engineering and Technology (IET-GH), the Association of Building and Civil Engineering Contractors of Ghana (ABCECG), the Ghana Electrical Contractors Association (GECA), Ghana Institute of Construction (GIOC), Certified Electrical Wiring Professionals Association (CEWPAG), Ghana Association of Real Estate Brokers (GAREB), Local Government Service Engineers Association (LoGSEA), Commercial Quarry Operators Association (COQOA), Engineering Council, Ghana, (EC), the Real Estate Council, (REAC), the Ghana Institute of Safety and Environmental Professionals (GhISEP), the Nigerian Society of Engineers (NSE) with Nimark Consult, and Culnad Construction Ltd, as construction firms among several others.
Event Sponsors
The Principal Sponsors of the event include, Gerflor Ghana, Meprolim Ghana, as headline sponsors. The rest are Premier Steel, McDan Group, Jemba Solutions Ltd, Fort Doors Ghana, the Primus Group, Alusynco Hellas Services Ltd, Marbelino Marble Stones Décor, Mayfair Estate Ltd, Reroy Cables Ltd, J2 Affable properties, Sethi Realty, Sethi Steel, Nimark Consult, ABS Properties, United Commercial Trading, Culnad Construction, CIMAF, Magil Enterprise Ltd.
The organizer is the Africa Continental Engineering & Construction Network Ltd (ACECN), a Pan African built environment and real estate firm based in Ghana but with a wide range of projects and network of built environment professionals across the African continent and beyond.
ACECN’s Objective
“The objective, Mr. Kontie said, was to set the stage for the integration of the African built environment whilst creating the opportunity for more partnerships/collaborations and the promotion of sustainability for corporate growth and for the African continental prosperity at large”
Mission
The mission is to be the industry game-changer in the delivery of superior general built environment services in all disciplines while championing the course of contemporary innovations and sustainability geared towards the socio-economic transformation of the African continent.
Vision
Its vision is to be among Africa’s top five (5) built environment brands in the next 10 years from 2024 while creating a strong continental network and integration of Africa’s fragmented built environment through a high-power professional, intergovernmental and sustainability networking across the globe.
In a post event exclusive interview with the Eco-Enviro News Africa magazine., Daniel Kontie, said, the Summit brought together all stakeholders of the African built environment.
“It was indeed a time of introspection that examined the past, the present and projections into the future of the African built environment in this AI dispensation.
“The core mandate was to communicate to all stakeholders yet again, the urgent need to integrate the African Built Environment for Socio-Economic Transformation of the African Continent.
“It was by far Africa’s most impactful built environment and Real Estate Summit that brought together all sector players across the African continent and beyond to discuss industry best practices, modern innovations and technologies that are shaping the future of built environments across the globe” Mr. Kontie intimated.
Objective
“The objective, Mr. Kontie said, was to set the stage for the integration of the African built environment whilst creating the opportunity for more partnerships/collaborations and the promotion of sustainability for corporate growth and for the African continental prosperity at large”
The UN climate change conference ended on 24 November with a pledge from developed nations to contribute at least $300 billion annually to support adaptation.
After two weeks of intense negotiations, delegates at COP29, formally the 29th Conference of Parties to the UN Framework Convention on Climate Change (UNFCCC), agreed to provide this funding annually, with an overall climate financing target to reach “at least $1.3 trillion by 2035”.
This summit had been dubbed the ‘climate finance COP’, and representatives from all countries were seeking to establish a new, higher climate finance goal.
The target, or new collective quantified goal (NCQG), will replace the existing $100 billion goal that is due to expire in 2025.
Reacting to the outcome, UN Secretary-General António Guterres said that while an agreement at COP29 was absolutely essential to keep the 1.5-degree limit alive, “I had hoped for a more ambitious outcome – on both finance and mitigation – to meet the great challenge we face.”
But he continued, this agreement provides a base on which to build and added: It must be honoured in full and on time. Commitments must quickly become cash. All countries must come together to ensure the top-end of this new goal is met.”
Developing countries, which had sought over $1 trillion in assistance, said the pledge of financing was too little too late.
The WMO delegation at COP29, headed by Secretary-General Celeste Saulo, highlighted the urgency of drastic reductions in greenhouse gas emissions – and more financing to build resilience, and in particular to strengthen early warning systems.
According to WMO’s State of the Climate Update, the year 2024 is on track to be the hottest on record and temporarily hit 1.5°C. Greenhouse gas levels are at record observed levels. Sea level rise is accelerating, glacier retreat is unprecedented, and extreme weather events have caused major loss of life and livelihoods around the world.
“The time for action is now,” said Celeste Saulo. “If you want a safer planet, it’s our responsibility. It’s a common responsibility, a global responsibility,” she said.
The COP29 outcome is a gesture of support for the most vulnerable, said Celeste Saulo. But much more needs to be done.
Celeste Saulo, WMO Secretary-General, at COP29
Following on from COP29, WMO will prioritize accelerated action to strengthen global climate mitigation and adaptation, and reduce loss and damage. It will continue leveraging its State of the Climate reports to inform climate policy, finance, and action.
Key focus areas include scaling up the Early Warnings for All initiative to ensure comprehensive early warning coverage, and advancing Global Greenhouse Gas Watch to improve monitoring and mitigation.
Another priority is to close the gaps in Earth observations. These are necessary to inform both mitigation and adaptation, as was noted in the SBSTA Chair summary. WMO will take a similar approach to closing the gaps in Multi-Hazard Early Warning Systems.
At COP29, additional contributions were announced to the United Nations Systematic Observations Financing Facility (SOFF) that is now capitalized with more than US $100 million to support countries in closing their basic weather and climate data gaps.
A consolidated WMO strategy to support countries in updating Nationally Determined Contributions (NDCs) and National Adaptation Plans (NAPs) to reflect these elements will be developed. A critical element will be positioning National Meteorological and Hydrological Services (NMHSs) as the authoritative voice of hydro-meteorological early warnings and central actors in driving science-based solutions, ensuring their enhanced role in implementing climate policies and strategies worldwide.
Wide shot of the plenary hall at the UN climate conference, COP29, in Baku, Azerbaijan.
UNFCCC/Kiara Worth
Other steps forward at COP29 included:
Countries agreed on the rules for a UN-backed global carbon market. This market will facilitate the trading of carbon credits, incentivizing countries to reduce emissions and invest in climate-friendly projects.
They agreed to an extension of a programme centered on gender and climate change; and agreement on support for the least developed countries to carry out national adaptation plans.
UN Climate Change Executive Secretary Simon Stiell described the new finance goal agreed at COP29 as “an insurance policy for humanity.”
“This deal will keep the clean energy boom growing and protect billions of lives. It will help all countries to share in the huge benefits of bold climate action: more jobs, stronger growth, cheaper and cleaner energy for all. But like any insurance policy – it only works – if the premiums are paid in full, and on time.”
He acknowledged that no country got everything they wanted, and that the world leaves Baku with a mountain of work to do. “So, this is no time for victory laps. We need to set our sights and redouble our efforts on the road to Belém,” in the eastern Amazonian region of Brazil, which is set to host COP30 next year.
Further reading:
UNFCCC concluding press release
COP29 website
SOURCE
UN NEWS
In their last scheduled meeting to agree on treaty text to “end plastic pollution,” negotiators may base their discussions on a new non-paper by INC Chair Luis Vayas that builds on the common ground between countries.
In his opening remarks, INC Chair Luis Vayas Valdivieso (Ecuador) emphasized that adopting an agreement to end plastic pollution is possible at this meeting, and urged delegates to show “unwavering commitment, relentless effort, and bold political decisions.
Also in a video message, Cho Tae Yul, Minister of Foreign Affairs, Republic of Korea, stated that his country is fully prepared to work toward a treaty that is actionable, grounded in scientific evidence, and adaptable to national contexts.
Reminding delegates that this day marked 1000 days since the UN Environment Assembly (UNEA) adopted resolution 5/14 to end plastic pollution, Inger Andersen, Executive Director, UN Environment Programme, urged them to: work towards bringing the “gavel down” on an ambitious instrument providing the broad contours and strokes for further work; conclude negotiations quickly on provisions with respect to which there is considerable convergence; and use UNEA resolution 5/14 as a “guiding star” when addressing provisions on which significant work remains, concerning plastic products and chemicals, supply, and finance. Jyoti Mathur-Filipp, Executive Secretary, INC Secretariat, lauded the courage and determination shown by INC members over the past two years, and the strong community built together over this period.
Several delegations announced that the Chair’s Non-Paper, which had been circulated in advance of the meeting, should not be used as a basis for discussions in its current form, calling instead for a revised version, reflecting submissions by states and emphasizing that this “is a state-driven process, and the compilation text reflects the views of states.” They also underlined the need to include separate articles related to the objective, scope, and principles governing the new treaty, which are absent from the Non-Paper.
Many more states, however, supported the Non-Paper providing the basis for negotiations, noting that the text can be modified based on members’ additions through the negotiation process. Most states in this camp noted that the Non-Paper is not perfect, but expressed a willingness to use this “bridging text” as the basis for negotiating the new treaty in order to fulfil the Committee’s mandate to conclude treaty negotiations by the end of 2024, as stipulated in UNEA resolution 5/14.
