Finance
Urgent Call for Climate Plan Updates and New Finance Goals at COP29
Attention sustainability teams: Last week, country negotiators received their first formal correspondence for the UN Climate Summit, COP29, happening from November 11-22, 2024, in Baku, Azerbaijan. The letter urges governments to submit revised climate plans to meet the 1.5C target of the Paris Agreement by February. Additionally, setting a new annual climate finance goal for 2025, the New Collective Quantified Goal (NCQG), is a top priority. With the US election in early November, potential changes to US Paris Agreement commitments are anticipated. RCC will monitor international agreements and their impact on domestic policies.