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COP28 is regarded as the UNFCCC COP that produced a text decision of reducing the use of all fossil fuels while promoting differentiated pathways to net zero and fossil fuel phase down of Parties. It is also acknowledged for mobilizing funds for the establishment of the Loss and Damage Funding Facility. In this article, Mpho Katjiuongua our Climate Finance Researcher reflects on the just concluded UNFCCC COP28 with a detailed overview of what its outcomes means for Namibia. https://lnkd.in/dy4_KFm4 Read the full article on our website www.triplecapital.com.na

It's already been a month since COP28 concluded with a global agreement signaling the 'beginning of the end' of the fossil fuel era. Global finance initiatives in the energy transition also took centre stage, especially when it came to helping developing countries deal with the effects of climate change. A newly created global inventory of negotiations can now be used by countries to develop stronger climate action plans in the next few years, including tripling renewable energy capacity and doubling energy efficiency improvements by 2030. We should also see a focus on setting a 'new collective quantified goal on climate finance’ in 2024 onwards. Find out more details here: https://lnkd.in/eQaH-Jwc #COP28 #GlobalEnergyTransition #Decarbonization #GlobalStocktakeAgreement #ClimateAction #EnergyEfficiency #FossilFuels

Global Efforts for Clean Energy: COP28 Takes Steps to Fight Climate Crisis and Support Developing Countries #Article6 #carbonmarketmechanism #climatecrisisurgency #climatefinance. #coalphaseout #cop28 #developingcountriestransitiontocleanenergy #economicgrowthvsclimateaction #financialsupportfordevelopingcountries #GlobalCoalitionforTransformationalEnergy #greenhousegasemissions #GretaThunberg #ParisAgreement #renewableenergysources #UnitedNationsClimateChangeConference

The incoming president of the COP29 UN climate summit in Azerbaijan told AFP on Friday that his country would keep increasing fossil fuel production “in parallel” with investments in cleaner alternatives. Mukhtar Babayev defended his country’s hosting of the world’s most important climate summit despite its surging natural gas exports, even as UN chief Antonio Guterres renewed calls this week for countries to “phase out” fossil fuels. #Cop29 #fossilfuel #un #fuel #fossil #climatechange #climatesummit

🤝 Pleased to see advancing cooperation to #CutMethane from recent U.S.-China dialogues, including via credible data from the UN Environment Programme's IMEO. 🛰 UNEP’s Methane Alert and Response System, managed by IMEO, harnesses data from a dozen satellites to alert governments and companies of major emission events. 🌎 This example of data-to-action can play a powerful role advancing progress as the world seeks to reduce emissions of methane, which drive about a third of current global warming. 📉 Looking forward to #COP29 in Baku, swift reductions of methane informed and verified by credible data will be crucial for keeping the targets of the Paris Agreement within reach. 📊 UNEP’s IMEO exists to provide open, reliable, and actionable data to the individuals with the agency to reduce methane emissions. It is a core implementer of the Global Methane Pledge and its aim to curb emissions 30% by 2030. The full U.S.-China readout ➡ https://lnkd.in/eXZ4-vMb Learn more about UNEP’s IMEO ➡ unep.org/imeo

As the climate crisis escalates, the Pacific Islands—among the least responsible yet hardest hit—are demanding real action from global leaders. The upcoming COP29 presents an opportunity for Azerbaijan to lead by example. Words alone won’t protect vulnerable communities; we need a full commitment to phasing out fossil fuels and robust climate finance to support a global energy transition. It’s time for Azerbaijan to step up and ensure COP29 delivers meaningful outcomes for our planet. #COP29 #ClimateLeadership #Sustainability https://lnkd.in/d3KqJixR

It’s exciting to see the two largest emitters of methane be steadfastly committed to reducing emissions. We look forward to the second methane summit, hosted by China and the U.S. at COP29. The momentum we are seeing on reducing methane emissions is critical, since it’s the fastest way to lower warming, buying us time to avoid the worst impacts.  #methane #DOS #US #China #climate #COP29 https://lnkd.in/eXZ4-vMb

In the wake of COP 28 and $85 billion in climate financing pledges, 2024 marks a crucial turning point. Now, the public and private sectors must unite to propel us closer to our climate goals. With a focus on scaling up private investments in developing nations, we can make significant strides toward a sustainable future. Source: https://lnkd.in/e4DUD9Ey  #ClimateAction #COP28 #Sustainability #Climate #Climategoals

As COP28 kicks off, Canada is planning to further mitigate and regulate methane emissions in this country - which, if done right, will have a significant impact on Canada's role in climate change in the coming decades. Here's a brief overview of methane for the uninitiated: - Primary Component of Natural Gas: Methane is the chief component of natural gas. - Potent Greenhouse Gas: When released directly into the atmosphere without combustion, methane has a warming effect 28 times greater than that of CO2. - Shorter Atmospheric Lifespan: Methane doesn't last in the atmosphere for quite as long as CO2. - Economic and Environmental Sense: Mitigating methane release aligns both with environmental conservation and economic benefits. If it doesn't leak upstream, it can be monetized downstream. - Advancements in Sensing Technology: While measuring methane leakage has historically been imprecise, advancements in sensing technology are enhancing our ability to monitor and address these emissions. - Immediate Impact on Climate Change: Mitigating methane leakage is one of the most impactful measures in the near term to decelerate climate change. Canada's commitment reflects a broader awareness of the critical role methane reduction plays in our collective pursuit of a sustainable future. #COP28 #Methanereduction

COP28 UAE Outcomes Discussion: - Moderator and Participants: Sara Schonhardt from E&E News led a discussion with Lama Elhatow from Johns Hopkins University and Nathan Hultman from the University of Maryland. - Key Takeaways: - Expansion of Vision: There's a notable shift towards adopting an integrative approach to national strategies, moving beyond mere emissions reduction to encompass just transitions, resilience, adaptation, and international collaboration. - Energy Transition: The urgency of making rapid progress in energy transition was emphasized, highlighting the crucial role of renewables deployment and energy efficiency measures in effectively addressing climate change. - #GlobalStocktake: COP28 discussions underscored the concerning realization that global climate goals are not on track. This emphasized the need for escalated efforts to meet these targets. While some progress has been made, much more work lies ahead. - Transitioning Away from Fossil Fuels: There was significant discourse around the necessity of transitioning away from fossil fuels. Goals were set to triple renewables and double energy efficiency improvements, signaling a concerted effort towards decarbonization. - Reevaluation of Progress: Participating countries engaged in a thorough assessment of the progress made since the Paris Agreement. They collectively agreed on the need to address the existing gaps and challenges in order to meet the agreed-upon climate targets. Private Sector's Role: - Climate Finance: Private sector involvement in #climatefinance is indispensable for funding sustainable projects and initiatives aimed at reducing greenhouse gas emissions and adapting to climate change impacts. Private investments complement public funding and drive innovation in clean technologies. - Transition to Renewable Energy: Businesses and industries within the private sector play a pivotal role in transitioning to renewable energy sources such as solar, wind, and other clean technologies. Their investments in renewable energy projects accelerate the shift away from fossil fuels, thereby contributing to the decarbonization of the economy. - Just Transition: As the transition to renewable energy progresses, the private sector bears a responsibility to ensure a just transition for workers in sectors like oil and gas. This includes providing training for green jobs, offering vocational programs, and supporting impacted communities to ensure a fair and inclusive shift towards a sustainable energy future. - Accountability and Engagement: There's an increasing emphasis on holding private sector entities, particularly oil and gas companies, accountable for their contributions to climate change. Engaging with the private sector in climate solutions and encouraging sustainable practices can drive positive environmental outcomes. Sunita Rajakumar Gary Theseira Johan Raslan https://lnkd.in/gqDJFrSu