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

THE recently concluded 2024 UN Climate Change Conference (COP29) in Azerbaijan deserves recognition for many positive developments that should deliver global benefits and set the stage for more robust agreements in the coming years.

It was notable in that it demonstrated the convergence of three major trends: the availability of finance across countries and projects; regulatory imperatives driven by key markets; and technological innovations in renewable energy, storage technologies and carbon capture.

This has set the stage to fast-track the climate agenda in developed and developing markets alike and has important implications for Singapore’s role in helping solve the climate challenge.