COP29: Time to Deliver

The We Mean Business Coalition calls on G20 and COP29 leaders to establish a new collective quantified goal (NCQG) for climate finance and ensure 2035 nationally determined contributions (NDCs) are 'investible' through sector-specific targets and clear regulations. The coalition emphasizes that targeted public finance is essential to de-risk projects and unlock private investment, particularly in low- and middle-income countries, while noting that 260 businesses representing over $1.6 trillion are urging a fossil fuel phase-out.

• The coalition defines 'investible' nationally determined contributions (NDCs) as those containing sector-specific targets—including the phase-out of unabated fossil fuels, increased energy efficiency, and the reversal of deforestation—supported by concrete policies and regulations that drive investment.
• A robust new collective quantified goal (NCQG) on climate finance is required to provide cash for emissions reductions and resilience building, which is critical for building trust and providing confidence to lower-income countries to implement their NDCs.
• Public finance is viewed as a mechanism to catalyze and scale private sector investment in low- and middle-income countries by improving enabling environments and de-risking projects during the transition from fossil fuels to clean energy.
• Climate-driven weather events, such as extreme heat, severe flooding, and hurricanes, are increasing costs for consumers and businesses by impacting global supply chains, specifically affecting harvests, production, and logistics.
• There is significant pressure for climate action, with 260 businesses representing more than $1.6 trillion calling for a fossil fuel phase-out, and 72% of people globally supporting a rapid transition to clean energy.

APA

We Mean Business Coalition (2024). COP29: Time to Deliver. https://www.wemeanbusinesscoalition.org/what-we-do/cop-and-other-events/cop29-we-mean-business-coalition-pavilion/cop29-policy/

Chicago

We Mean Business Coalition. COP29: Time to Deliver. 2024. https://www.wemeanbusinesscoalition.org/what-we-do/cop-and-other-events/cop29-we-mean-business-coalition-pavilion/cop29-policy/.

Wikipedia

{{cite press release |author=We Mean Business Coalition |title=COP29: Time to Deliver |date=4 November 2024 |url=https://www.wemeanbusinesscoalition.org/what-we-do/cop-and-other-events/cop29-we-mean-business-coalition-pavilion/cop29-policy/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{wemeanbusinesscoalition2024cop29, author = {{We Mean Business Coalition}}, title = {{COP29: Time to Deliver}}, publisher = {We Mean Business Coalition}, year = {2024}, month = nov, url = {https://www.wemeanbusinesscoalition.org/what-we-do/cop-and-other-events/cop29-we-mean-business-coalition-pavilion/cop29-policy/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }