Cop29

Hong Kong official calls Trump climate pullback ‘disappointing’

The financial secretary says that the city is on track to meet its goal to reduce carbon emissions by 50% before 2035 from a 2005 baseline

Developing nations will need an estimated US$1.3 trillion a year by 2035 in financial assistance to transition to renewable energy  and climate-proof their economies.

World Bank and IMF climate snub ‘worrying’, says COP29 presidency

Donors have consistently failed to deliver on past finance pledges, and have committed well below what experts agree developing nations need to cope with the climate crisis

There were a host of monumental achievements last year – from the closure of the UK’s last coal-powered electricity plant and the continued rapid growth of renewables to deforestation in the Brazilian Amazon (above) falling to a nine-year low in the 12 months to July 2024.

Here’s why I’m optimistic about climate financing

Carbon markets may have a slightly better year in 2025, as an agreement on a UN-backed carbon market has been finally reached at COP29

COP29 saw 150 countries pledge to collectively deploy 1,500 gigawatts of energy storage by 2030, six times the level of 2022.
THE BOTTOM LINE

A break in the clouds: What COP29 got right and why it matters

We are on the cusp of unlocking the necessary climate financing needed to create a meaningful impact

The use of sustainability-linked compensation fell sharply among Singapore’s top companies in 2024, KPMG has found.
ESG INSIGHTS

Issue 128: Trend reversal on ESG-linked pay; COP29’s shortfall leads us back to private capital

This week in ESG: Singapore’s top companies curb disclosure on ESG pay; fallout from climate summit’s underwhelming climate fund

Close to 200 countries were hammering out a climate finance agreement with battle lines drawn between developing countries often suffering the brunt of climate change, and developed countries obligated to provide funds due to their historical contribution to global warming.

Asean governments face risk of fiscal strain from climate change without policies to attract private capital

This further burdens public finances and diverts funds from other priorities such as healthcare and education

At COP29, developed nations agreed on US$300 billion as a climate finance goal to help developing nations. But, it is estimated that South-east Asia alone needs US$210 billion annually to meet its transition needs.

COP29 shows South-east Asia’s energy transition needs private finance; effective policies will catalyse that

The right ecosystem can support accelerated investment in solutions that can curb global warming, while not limiting economic growth

Newly minted Indonesian President Prabowo Subianto made a big splash at the recent G20 summit, where he announced that the country will bring forward its net-zero target by a decade.

Indonesia’s renewable capacity targets not enough to meet new net-zero aim: report

It says these plans, in addition to nuclear energy installations, will only meet 35% of projected electricity demand by 2040

SOCAR VIce-President Afgan Isayev speaks during the summit on methane and non-CO2 greenhouse gases at the United Nations COP29 climate change conference in Baku, Azerbaijan. Nov 12, 2024.

Top UN court to open unprecedented climate hearings

THE world’s top court will next week start unprecedented hearings aimed at finding a “legal blueprint” for how countries should protect the environment from damaging greenhouse gases -- and what the c...

Vehicles transferring coal in China. Over the past decade and even just last year, fossil fuel energy has increased twice as much as green energy.

Expensive climate policy is dead – and it could be an immense opportunity

Innovating the price of green energy below fossil fuels is the only way to get everyone to switch