The World Benchmarking Alliance at COP29
This year Azerbaijan will be hosting the annual UN Climate Change Conference, COP29, from 11 – 22 November in Baku, where world leaders, civil society and various stakeholders will come together to coordinate global action on climate and assess where urgent actions are needed to drive progress. This years meetings will prioritise elements such as 1.5-aligned Nationally Determined Contributions (NDCs) from all stakeholders and a New Collective Quantified Goal (NCQG) on Climate Finance.
The climate transition we need starts with the UN and member states clearly articulating the responsibility of the private sector. The World Benchmarking Alliance (WBA) will join forces with Allies and other stakeholders to oversee businesses transition pathways and progress. At COP29, WBA will highlight the results of newly launched benchmarks from the highest emitting sectors and host crosscutting multistakeholder conversations on just transition and the need for credible robust corporate transition plans.
Events
WBA along with our Allies and partners will host a variety of side events at COP29. We will also have WBA experts as featured speakers at various events in the Blue Zone. We invite you to engage with us on our COP29 agenda to drive corporate accountability on achieving global climate transformation goals. Please continue to check this page for updates as more event details are added to the agenda.
Friday, 15 November 2024
From G20 to COP30: Advancing credible, robust and just transition plans and 1.5 C aligned NDCs
11:15 – 12:15 AZT, Blue Zone, Brazil Pavilion
This side event will aim to showcase how Brazil can lead by example in its G20 and COP30 presidencies while di-siloing policy, finance and corporate climate action. It will dive deeper into the importance of credible, robust and just transition plans including how they can accelerate clean energy finance in emerging economies. The Just Transition Finance Lab/LSE and the World Benchmarking Alliance submitted an input paper to the G20 Sustainable Finance Working Group which highlighted ways to redirect private finance to unlock credible, robust and just transition plans.
Friday, 15 November 2024
Delivering on volume and impact of climate finance and investment to support 1.5C aligned next gen NDC
16:45 – 18:15 AZT, Blue Zone, Room: Side event 2
Achieving the goals set by the Paris Agreement, particularly limiting global warming to 1.5°C, requires significant scaling up of climate finance. Many countries, particularly in the Global South, face barriers in aligning their Nationally Determined Contributions (NDCs) with climate finance mechanisms. This side event aims to explore both the volume and impact of climate finance and how it can be delivered to enable meaningful progress toward 1.5°C-aligned NDCs.
For any questions please contact Joachim Roth our Climate Policy lead at j.roth@worldbenchmarkingalliance.org or Maria Azul Schvartzman our Engagement – Manager Decarbonisation and Just Transition at m.schvartzman@worldbenchmarkingalliance.org
Press Conferences
Thursday, 14 November 2024
World Benchmarking Alliance: financing and regulating a just transition away from oil and gas
10:00 – 10:30 AZT, Blue Zone, Room: Press 2
As COP29 convenes in Baku, Azerbaijan, global leaders gather against a backdrop of pressing challenges to the landmark COP28 agreement to phase out fossil fuels. Despite last year’s pledges, a surge in new oil and gas licenses worldwide highlights the urgency for decisive action. This press conference, hosted by WBA, will discuss the critical need for National Oil Companies (NOCs) and their host countries to move from pledges to concrete plans. The conference will feature actionable strategies and financial frameworks drawn from the latest research by the World Benchmarking Alliance (WBA), World Wildlife Fund (WWF), and Leave it in the Ground Initiative (LINGO), supporting a just transition away from fossil fuels.
The International Energy Agency (IEA) recently confirmed in its World Energy Outlook that global fossil fuel demand will peak by 2030. However, NOCs, which control half of oil and gas production, 40% of sector investments, and two-thirds of global hydrocarbon reserves, lack sufficient transition plans. This press conference will explore effective measures to hold NOCs accountable in alignment with global climate commitments.
Featured speakers:
- Joachim Roth, World Benchmarking Alliance (WBA)
- Kjell Kuehne, Leave it in the Ground Initiative (LINGO)
- Helena Spiritus, World Wildlife Fund (WWF)
Monday, 18 November 2024
World Benchmarking Alliance: just transition indicators for Next-Gen NDCs
10:00 – 10:30 AZT, Blue Zone, Room: Press 2
As the concept of a “just transition” gains traction on the global stage, its practical implementation faces significant challenges. This press conference will address the growing need for clear metrics to track just transition efforts, particularly as countries integrate this priority into Nationally Determined Contributions (NDCs) and Long-term Low Emission Strategies. This event aims to provide critical insights into effective tracking of just transition goals, stressing the importance of aligning government policies with corporate actions.
The rise of just transition in policy discussions has emphasised the need for a fair shift to a low-carbon economy. However, without concrete metrics and frameworks, pledges risk becoming hollow commitments, leading to confusion about how to turn goals into actionable steps. This press conference will feature experts who will outline frameworks and indicators necessary for real accountability and the cross-border dimensions of just transition planning.
Featured speakers:
- Joachim Roth, World Benchmarking Alliance (WBA)
- Jodi-Ann, London School of Economics (LSE)
- Jonas Kuehl, International Institute for Sustainable Development (IISD)
For any media or press inquiries please contact press@worldbenchmarkingalliance.org or contact Dara Karakolis our Climate Communications Manager d.karakolis@worldbenchmarkingalliance.org