WGEO Program at COP29

Joint Panel Discussion by WGEO & UGIH

Background

Climate disclosure standards are becoming increasingly pivotal in financial and environmental reporting as stakeholders demand greater transparency in the assessment and disclosure of climate-related risks. 28 Recognizing this trend, new global standard and reporting regimes including the International Financial Reporting Standards (IFRS) 29 standards set by the International Sustainability Standards Board (ISSB) 30 and the European Sustainability Reporting Standard (ESRS) 31 developed by the EFRAG32 for use by companies subject to the Corporate Sustainability Reporting Directive – are emerging that incorporate comprehensive climate risk assessments and disclosure practices. These new efforts, in addition to the Global Reporting Initiative (GRI), aim to enhance transparency, accountability, and informed decision-making within financial markets and broader corporate strategies.

The ISSB is providing critical leadership to support the adoption of globally consistent sustainability reporting that marks a significant stride towards harmonizing climate risk disclosure globally with more than a dozen jurisdictions in the process of adopting the IFRS standard for their use in corporate reporting. Concurrently, impactful financial entities like JP Morgan are steering substantial resources towards climate action, setting voluntary guidelines that enhance the alignment of climate disclosures with the United Nations Sustainable Development Goals (SDGs).

In Focus

This panel discussion will delve into the increasingly critical role that climate disclosure plays in the global economy’s shift towards sustainability. The session will explore how robust reporting standards – including the ESRS and IFRS and reporting other reporting frameworks not only facilitate detailed climate risk assessments but also promote transparent communication of these risks to stakeholders.

Additionally, the panel will critically explore the convergence of these and other standards in fostering sustainable financing. 33 This discussion will particularly focus on how these standards not only demand transparency in climate-related disclosures but also how they guide financial strategies to align with sustainable development goals. The integration of JP Morgan’s guidelines for impact disclosure exemplifies how financial institutions can utilize these standards to direct significant capital towards environmentally sustainable projects, thereby ensuring that climate disclosures are intricately linked with the financial mechanisms that drive global sustainability efforts.

Questions for Panel Discussion

1. How would you characterize the global landscape for climate and sustainability reporting given the emergence of mandatory reporting globally?

• Last year, the ISSB launched the first of Sustainability Disclosure Standards. Give us a brief overview to the standard. What are the key learnings almost 18 months after the launch of the inaugural ISSB Standards?
• How do you think companies are doing to adapt to mandatory reporting regimes? What are companies doing to manage the necessary change and build capacity?

2. There has been a major effort to ensure greater alignment of reporting standards. Have we been successful?

• What are the key differences and synergies between IFRS and ESRS standards in addressing climate-related disclosures? How should companies navigate the complexities of reporting to both?
• In May 2024 the IFRS Foundation and the GRI announced a further collaboration agreement. What is the latest?
• How are companies including yours experiencing reporting in multiple jurisdictions? Thoughts on what Ms. Mardi McBrien shared?

3. How does JP Morgan’s impact investment framework promote robust climate disclosures and alignment with SDGs?

• What are the key features of JP Morgan’s guidelines for impact disclosure?
• What impact has JP Morgan’s approach had on enhancing transparency and accountability in climate finance?

4. Closing round – What is keeping you up at night and what do we need to do about it

Joint Panel Discussion by WGEO & UGIH

Background

Digital technologies offer unprecedented opportunities to address the climate crisis. From renewable energy management to carbon emissions tracking, emerging tools and technologies can play a crucial role in driving climate mitigation efforts. Recent advancements in areas such as artificial intelligence, big data analytics, and the Internet of Things (IoT) are transforming the way we approach climate challenges.

The Intergovernmental Panel on Climate Change (IPCC) has highlighted the potential of digital technologies to support climate action. By leveraging these tools, governments, businesses, and individuals can enhance their understanding of climate risks, improve decision-making, and accelerate the transition to a low-carbon economy.

In Focus

Emerging digital tools and technologies can be applied to a wide range of climate mitigation activities, including:

• Renewable energy optimization: Using AI and IoT to optimize the performance of renewable energy systems and reduce costs.
• Carbon emissions tracking: Leveraging big data analytics to accurately measure and track carbon emissions.
• Climate modeling and forecasting: Improving climate models and forecasting capabilities to inform decision-making.
• Sustainable supply chain management: Using blockchain technology to ensure transparency and sustainability in supply chains.

However, the adoption of these technologies also presents challenges, such as data privacy concerns, cybersecurity risks, and the need for skilled workforce development.

Questions for Panel Discussion

1. What emerging digital tools and technologies hold the most promise for climate mitigation efforts?

• How can AI and machine learning be used to optimize renewable energy systems and reduce emissions?
• What are the potential applications of blockchain technology for climate-related initiatives?
• How can IoT devices be used to collect and analyze data for climate action?

2. How can these tools be integrated into existing systems to maximize their impact?

• What are the challenges and opportunities in integrating digital technologies into existing infrastructure and processes?
• How can governments and businesses collaborate to promote the adoption of these tools?
• What are the potential benefits of interoperability between different digital platforms and systems?

3. What are the challenges in adopting new technologies for climate purposes, and how can they be overcome?

• How can data privacy and cybersecurity risks be addressed?
• What skills and expertise are needed to effectively use these technologies?
• How can the costs of implementing new technologies be reduced?

Joint Panel Discussion by WGEO & UGIH

Background

As the impacts of climate change become increasingly severe, it is imperative to invest in innovative adaptation technologies to build resilience and protect vulnerable communities. These technologies offer promising solutions to address challenges such as extreme weather events, rising sea levels, and water scarcity.

Recent reports by the Intergovernmental Panel on Climate Change (IPCC) highlight the urgent need for climate adaptation measures. By investing in innovative technologies, governments, businesses, and communities can enhance their resilience and reduce vulnerability to climate-related risks.

In Focus

Emerging adaptation technologies offer a wide range of potential solutions, including:

• Climate-smart agriculture: Developing crop varieties that are more resilient to drought, heat, and pests.
• Water management technologies: Implementing efficient water use practices, desalination, and wastewater treatment systems.
• Coastal protection: Building seawalls, mangrove forests, and other infrastructure to protect coastal communities from rising sea levels.
• Early warning systems: Developing advanced systems to predict and respond to extreme weather events.

However, scaling up these technologies requires overcoming significant challenges, such as financing, policy barriers, and technological limitations.

Questions for Panel Discussion

1. What innovative adaptation technologies are showing the most promise in scaling climate impact?

• How can these technologies be applied to address specific climate challenges, such as extreme weather events, water scarcity, and food insecurity?
• What are the potential benefits and limitations of these technologies?
• How can these technologies be integrated into existing adaptation strategies?

2. How can these technologies be deployed effectively across different geographical and economic contexts?

• What factors should be considered when selecting and implementing adaptation technologies in different regions?
• How can these technologies be adapted to meet the specific needs of vulnerable communities?
• What are the challenges and opportunities for scaling up adaptation technologies in developing countries?

3. What are the barriers to scaling up green innovations, and how can they be addressed?

• How can financial barriers to the adoption of adaptation technologies be overcome?
• What policy and regulatory frameworks are needed to support the deployment of these technologies?
• How can partnerships between governments, businesses, and civil society organizations be fostered to accelerate the scale-up of adaptation innovations?

Panel Discussion by UGIH, WGEO Innovation Partner

Background

Innovation has been used by humanity to cope with changes and discover new opportunities. Its primary application nowadays aims at fostering competitive advantage and sustaining growth. It has also been used to comply with actual and future economic, social, and environmental regulations. Applied to address climate change and foster sustainable development, it is expected to deliver transformative climate and SDG resource efficient solutions with the capacity to deliver flourishing lives to a world with 10 billion people by 2050, while being aligned with the climate goals and the SDGs. However, there are challenges hindering the mobilization of the full potential of innovation, to serve climate and sustainable development.

The transition to a green economy is seen solely as a decarbonization agenda. This narrows the climate and sustainability innovation space to only incremental improvements in the form of gradual reduction of the carbon footprint of products and services at the sectoral level. This also does not address the needs of developing countries that are low emitters. Indeed, for them, the challenge is less how to decarbonize their economy but more how to develop, but to develop in a way that is aligned with the climate and sustainability goals. While in developed countries the aim of innovation will be to reduce GHG emissions, in developing countries, innovation will aim to enable development while avoiding emissions. Against this background, the UN Global Innovation Hub was launched at COP 26 to contribute to making the use of innovation to support climate and sustainability actions more effective.

More specifically, the UGIH is set as a key collaboration tool that aims to make best use of transformative innovation in supporting the UNFCCC process, including the Global Stocktake (GST), the Mitigation Work Programme (MWP), the joint Work Programme of the Technology Mechanisms and the successful implementation of Article 6 of the Paris Agreement. The Hub expands the global innovation space by facilitating solutions that support climate-related Sustainable Development Goals (SDGs) and that address the satisfaction of core human needs via alternative value chains aligned with those SDGs.

One key working space of the UGIH is the Systemic Innovation Workshops. The Systemic Innovation Workshops are part of a wider Systemic Innovation Framework that aims to accelerate the identification, development, and effective deployment of innovative technologies, policies, financial instruments, and business models, as well as cooperative approaches and products from culture and creative industries. This framework supports transformative climate and sustainability innovations to address the needs of the many people and the planet. To date, the UGIH has successfully held ten successful SIWs. The key output of the SIW is Innovation Projects that are identified and formulated during the SIW. So far, 24 Innovation projects have been ideated and are being developed in different regions.

In Focus

In line with the objectives of the UGIH, this session will showcase successful innovation projects. The session will introduce the innovation projects and highlight what, why, how, and who of the projects. The panelists will present their innovation project and also deliberate and share ideas, experiences, and plans from the ideation to the implementation phases.

Overall, the session is aimed to:

• To introduce UGIH Innovation Projects
• To share experiences and lessons learned in implementing the innovation projects
• To inspire the audience to participate and contribute to future SIWs.

Panel Discussion by UNDP, WGEO Development Partner

Background

Digital transformation is increasingly recognized by countries as essential for meeting their climate commitments in Nationally Determined Contributions (NDCs) and achieving the broader goals of the Paris Agreement. With support from financial partners, INGOs, and technical partners, digital tools are proving vital in scaling and accelerating climate action across three key areas:

a) Foundational Policy and Strategy for Digital-Driven Green Transitions
Countries are implementing national digital strategies and conducting readiness assessments to establish a foundation for climate-focused digital transformation. Digital Roadmaps are being developed to identify targeted interventions that drive green transitions in key sectors like sustainable energy, low-emission transport, and biodiversity conservation.

b) Strengthening Core Digital Infrastructure for Climate Action
Robust digital infrastructure is crucial for NDC transparency, planning, monitoring, and climate finance access. To meet the Enhanced Transparency Framework under the Paris Agreement, countries are building digital systems to improve NDC tracking and reporting across sectors. Digital carbon registries are also being set up to support carbon markets under Article 6, enabling national carbon credit management and interoperability with global systems, often through customizable, open-source solutions.

c) Utilizing Advanced Digital Technologies for Nature and Biodiversity Solutions
Advanced technologies, including artificial intelligence, are enhancing the monitoring and valuation of nature-based solutions (NBS), essential for biodiversity conservation and bioeconomic growth. Digital traceability systems are also being developed to increase transparency and trust in sustainable supply chains, empowering communities and strengthening biodiversity finance.

Achieving impactful digital transformation in climate action requires investments not only in technology but also in governance, skills, and collaborative ways of working. Sharing knowledge and providing mutual support between countries and organizations will be key to accelerating adoption, from foundational policy development to core infrastructure and advanced technology applications.

In Focus

This panel discussion convenes representatives from three countries, each at a unique stage in their digital transformation journey for NDCs. Panelists will share experiences on leveraging digital tools for climate action, including NDC tracking, digital registries, and MRV (Measurement, Reporting, and Verification) systems. Topics will include key challenges across stages of digital transformation: (1) assessing needs, (2) getting started, (3) post-launch adoption and maintenance, and (4) integrating advanced technologies such as AI. The session will highlight lessons learned, the role of technical support, and address current gaps and future needs.

Questions for Panel Discussion

1. Assessing Readiness: How have countries assessed their needs and determined the type and level of support required to begin their digital readiness journey to a more inclusive, climate resilient and sustainable greener economy?

2. Overcoming Initial Barriers: What common obstacles have countries encountered at the start of implementing digital tools for NDC? How were these overcome?

3. Post-Implementation: For countries that have launched digital tools, how do countries ensure that digital tools are actively used and integrated, rather than remaining underutilized?

4. Integrating Advanced Tools like AI: How can advanced tools like AI be leveraged to enhance digital climate solutions, and what practical steps are needed for their integration?

5. Identifying Gaps and Technical Assistance Needs: Where do countries see the greatest need for further technical support, and what specific gaps remain priorities? How can international partners like UNDP better tailor their support to meet these needs effectively?

Panel Discussion by UNDP, WGEO Development Partner

Background

Climate change is a “risk multiplier” that has manifold implications for peace, stability and security. In many highly vulnerable, fragile and conflict-affected settings (FCAS), climate change interacts with other social, political, economic and demographic factors which can exacerbate drivers of conflict and fragility, undermining peace and stability. These compounded effects can lead to heightened resource competition, forced displacement and eroding social cohesion, in addition to exacerbating existing vulnerabilities and basic needs.

The intersection of Climate, Peace, and Security (CPS) and the Youth, Peace, and Security (YPS) agenda is becoming progressively more important. Young people are often at the forefront of addressing climate-related security risks and building resilience to the impacts of climate change. They serve as both peacebuilders and climate activists, they demonstrate resilience and innovation, and their active participation in climate action and peacebuilding, though often limited in formal settings, underscores their potential as essential stakeholders. They do this while facing significant challenges, including protection risks, tokenistic participation in decision-making processes, negative stereotypes, and shrinking civic space.

The YPS agenda was established with the adoption of the United Nations Security Council (UNSC) Resolution 2250 in 2015, emphasizing young people’s role in peace and security. This commitment was strengthened with the adoption of resolutions 2419 and 2535 as well as through biennial YPS reports of the Secretary-General since 2022. Building on this solid foundation, the 2024 YPS Report of the Secretary-General acknowledged the intersection of insecurity with climate change and the need for integrated approaches to address these interlinked challenges.

Recent developments, including the COP27 Presidency initiative “Climate Responses for Sustaining Peace” (CRSP), as well as the COP28 Thematic day on Health, Relief, Recovery & Peace and subsequent declaration, have spotlighted CPS. Furthermore, the establishment of COP27 Presidency’s first-ever Children and Youth Pavilion, the COP28 Presidency’s institutionalization of the Youth Climate Champion role, The International Youth Climate Delegates Programme, the launch of the Global Framework on Youth, Climate, Peace and Security at COP28 demonstrate a commitment to integrating young people’s perspectives within CPS dialogues.

Furthermore, the Youth Iteration of the Climate, Peace, and Security Experts Academy in October 2024 co-hosted together with the COP27 Presidency and Cairo International Center for Conflict Resolution, Peacekeeping and Peacebuilding (CCCPA) as the secretariat of the COP27 Presidency Initiative CRSP, the Intergovernmental Authority on Development (IGAD), the League of Arab States (LAS), the United Arab Emirates (UAE), in their capacity as the COP28 Presidency, the COP29 Presidency and the UN Climate Security Mechanism (CSM), brought together young professionals and next generation international public sector leaders, equipping them with the knowledge, skills, and networks necessary to influence and shape climate, peace and security, as well as YPS discussions moving forward.

This COP29 side-event aims to showcase experiences and solutions of young leaders actively navigating climate, peace and security challenges. It will feature representatives who have contributed directly to the recently launched UNDP policy paper “Bridging Generations: Pathways to a Youth-Inclusive Climate, Peace, and Security Agenda” unpacking youth meaningful inclusion, engagement and empowerment in UNDP’s existing Climate, Peace and Security initiatives and the FBA, UNDP, SIPRI Guidance note “Beyond vulnerability: A guidance note on youth, climate, peace, and security” highlighting youth- led efforts to address climate-related security risks and providing practical guidance for advancing a unified agenda on youth, climate, peace, and security, emphasizing the importance of recognizing and supporting youth’s transformative role.

This side event will also feature insights from young members of the Climate Policy and Finance for Sustaining Peace Capacity Building Network, established by the alumni, partners and stakeholders of the Climate, Peace and Security Experts Academy, representatives from Kofi Annan Foundation’s Extremely Together, while awardees from the Youth4Climate initiative, supported by the Government of Italy and UNDP, will share their experiences and success stories working at the intersection of climate change and peacebuilding.

Drawing on their experiences, panelists will share concrete examples of integrated climate and peace action, illustrating emerging best practices and strategies, and framing youth meaningful inclusion, engagement and empowerment to address climate, peace and security challenges. Through these discussions, the event will highlight young people as key actors and changemakers in the climate, peace and security space, reinforcing that young people are already contributing to solutions on the ground and need amplified support and representation to drive transformative change globally.

Panel Discussion by UCLG Africa, WGEO Development Partner

Background

Following the decision of the Committee of African Heads of State on Climate Change (CAHOSCC), the need to accelerate access to climate financing for African countries has been reaffirmed. The Forum on Accelerated Access to Climate Financing, held in Nairobi in August 2024, highlighted the crucial role of AfDAN (Network of National Designated Authorities for Climate Financing) as a catalyst to facilitate this access. CAHOSCC recognized AfDAN as a key tool to support African countries in mobilizing resources tailored to the continent’s needs for resilience and sustainable development.

In this context, COP29 takes on particular importance, especially in defining the new collective quantified goal (NCQG), which aims to reshape the commitment of developed countries to mobilize funds for developing nations. With NCQG discussions expected to conclude by the end of 2024, COP29 is also vital for strengthening the Nationally Determined Contributions (NDCs) of countries. These NDCs must be updated and submitted by 2025 to reflect ambitious targets for energy transition and the shift to renewable energy.

AfDAN plays a key role in this process by coordinating African countries’ efforts to align their NDCs with global climate goals and by facilitating access to the necessary funding to achieve them. This also involves enhancing international collaborations and ensuring that climate financing supports a just and equitable transition, with a focus on the specific needs of African countries.

COP29, by focusing on climate transition financing plans, will highlight the importance of linking national strategies—whether NDCs or long-term strategies (LTS)—to a clear roadmap for climate investments. These plans will help estimate short- and medium-term funding needs and define policies to unlock these investments. AfDAN will contribute to this effort by identifying financing options, closing investment gaps, and integrating macroeconomic considerations tailored to African realities.

Thus, COP29 represents a major opportunity to ensure that AfDAN’s efforts and the NCQG objectives are integrated into a collective strategy. This approach aims to enhance the climate resilience of African countries, facilitate access to the necessary financing, and promote sustainable development in line with global commitments and CAHOSCC’s objectives.

This side event aims to shed light on CAHOSCC’s Decision 31, which places AfDAN at the heart of Africa’s financial mobilization strategy. We will explore the implementation modalities of this decision in a strategic context shaped by the new financial framework of the NCQG, which presents both challenges and opportunities to strengthen resource mobilization. Furthermore, we will discuss progress in this area as well as AfDAN’s potential role in this dynamic context.

Questions for Panel Discussion

• How can AfDAN strengthen coordination among African countries to ensure that their NDCs are aligned with NCQG global objectives and reflect greater ambition?
• What strategies can be implemented to ensure that climate financing mobilized through the NCQG supports a just and equitable energy transition for African countries, while addressing their specific needs?
• What major obstacles do African countries face in accessing climate financing, and how can AfDAN facilitate the process of securing these funds ahead of COP29?
• How can the active participation of the African private sector in mobilizing climate financing be encouraged, and what specific mechanisms can be put in place to integrate this sector into national and regional financing plans?
• What mechanisms should be developed or strengthened to ensure that African countries’ short- and medium-term financing plans are aligned with their NDCs and effectively support climate resilience projects?
• How can AfDAN’s role be optimized to help African countries define national policies that incorporate NCQG objectives while considering local economic and social realities?

WGEO Official

Background

The World Green Economy Organization (WGEO) underscores the pivotal role of robust partnerships in driving forward the objectives of the global green economy transition and accelerating the achievement of Sustainable Development Goals (SDGs). Partnerships serve as a cornerstone of the development agenda, sparking innovation and mobilizing resources across the public and private sectors.

The WGEO Members and Partners Award Ceremony is dedicated to recognizing the remarkable contributions of its members and partners who exemplify commitment and leadership towards a sustainable future. It aims to highlight the dedication of various stakeholders from diverse sectors such as technology, finance, retail, and more, who have significantly advanced the organization’s mission.

By hosting this ceremony, WGEO continues to champion the spirit of cooperation and collective action, essential for the long-term success of the green economy worldwide.

In Focus

The ceremony will feature the presentation of awards to honor WGEO partner organizations for their exceptional contributions. These recognitions aim to inspire continued excellence and innovation in the domain of green economy.

Scheduled to take place at the WGEO Pavilion within the COP29 Blue Zone, this ceremony is a formal acknowledgment of the outstanding efforts and achievements of WGEO’s collaborative network.

As this special occasion unfolds, it will serve not just as a platform for celebration but also as an impetus for renewing commitments and catalyzing further actions among WGEO’s network. It will underscore the essential nature of collaborative efforts in achieving broader environmental goals and enhancing the collective impact on global sustainability initiatives.