Despite the U.S. withdrawal from the Clean Energy Transition Partnership (CETP), a global coalition of countries continues to reduce international fossil fuel financing, with public funding dropping by two-thirds since 2019 based on latest data.
With the clock ticking in Baku, negotiators must secure an agreement that delivers at least $1 trillion yearly in public finance to support Global South countries in implementing climate solutions and a fair fossil fuel phaseout.
As climate finance negotiators push for a breakthrough in Baku during COP29's tenth day, the urgency for action has never been clearer—with 2024 on track to be the hottest year on record.
At a COP29 press conference, the United Kingdom, Colombia, and New Zealand announced they are joining the Dutch-led Coalition on Phasing Out Fossil Fuel Incentives (COFFIS) launched at COP28. While Civil Society Organizations applaud the growing membership, they urge all members...
As COP29 enters its fifth day in Baku, the stark choice facing negotiators is clear: either deliver real solutions through public grants of at least $1 trillion annually in public funds, or fall back on inadequate private sector mechanisms that...
"Today’s Action Plan sends an important signal that countries must go further, and agree on an ambitious wider NCQG here in Baku.”
Follow along for the most important events, press conferences, and developments on Day 2 of COP29, where negotiations begin amid geopolitical shifts and critical decisions on climate finance, fossil fuel phaseout, and U.S. climate policy.
“The UK wants to call itself a climate leader but today Keir Starmer failed to match strong words with a strong plan of action."
“Barely one year after the unprecedented COP28 decision to transition away from fossil fuels, the G20 seems to be suffering from collective amnesia. Producing a communiqué on the energy transition in 2024 that fails to even mention fossil fuels is...
While it is positive to see calls for parties to match the urgency of the climate crisis and act together to deliver NDCs that keep 1.5°C in reach, the Troika feigns to ignore a simple reality: it will not be...
