COP29 presents a ‘vital opportunity’ to enhance collective ambitions, elevate more voices, and enable a new era of climate action, UAE Climate has said.
UAE Climate, which helped to instigate the UAE Consensus that was agreed at COP28, noted that while last year’s event set about delivering a ‘new era in climate action’, ensuring this momentum is carried forward through to the forthcoming event in Baku, Azerbaijan, as well as COP30 in Brazil next year, will be essential.
Some 198 countries came together to commit to the UAE Consensus at COP28, pledging to keep 1.5°c within reach.
‘An exciting milestone’
“COP29 is an exciting milestone to continue accelerating action together and co-creating climate resilience, bridging global priorities and capabilities and ensuring that our multilateral partnerships translate into impactful, equitable outcomes,” commented Abdulla Al Balalaa, Assistant Minister for Energy and Sustainable Affairs at the UAE Ministry of Foreign Affairs.
Among the significant announcements at COP28 was the establishment of a Loss and Damage Fund to support climate-vulnerable nations. The fund was supported by pledges from 19 countries, totalling around $800 million, including $100 million from the UAE.
For its part, the UAE said that it plans to invest more than $163 billion in clean and renewable energy over the coming years to achieve net-zero emissions by 2050, pledging to triple the production capacity of renewable energy by 2030. It has also launched ALTÉRRA, a $30 billion private investment vehicle aimed at driving climate finance in developing economies
Climate-smart agriculture
Elsewhere, the UAE and the US have launched initiatives such as the Agriculture Innovation Mission for Climate (AIM4C), investing over $16 billion in climate-smart agriculture to boost food security. This partnership has already secured support from more than 600 state and non-state actors, reflecting the global momentum behind these efforts.
“As the international community turns to COP29, taking stock of the progress we have achieved against these targets – and the gaps that still need to be addressed – will be essential for the discussions this year,” Al Balalaa added.
“The UAE Consensus must continue to act as our guiding North Star, serving as an overarching framework to deliver on our collective ambition for transformative climate action, and building a more just and equitable future for all.” Read more here.
