Save the date – Thusdays of Innovation

TUESDAYS OF INNOVATION (SPECIAL COP 29)
The Role of Technology and Innovation in Shaping COP29 Decisions
Tuesday, December 10, 2024

2:00 PM (Paris Time)

The 29th Conference of the Parties (COP 29), held in Baku, Azerbaijan, from November 11 to 22, 2024, placed significant emphasis on technological advancements and innovation as key drivers of climate action. A notable outcome was the agreement to establish a global carbon credit market, aimed at mobilizing significant investments in projects to combat climate change. This system is expected to significantly increase the value of the global carbon market, with potential estimates reaching $250 billion annually by 2030.

Additionally, the conference highlighted advancements in renewable energy storage, smart grid technologies, and innovations necessary to meet commitments such as tripling renewable energy investments and doubling energy efficiency by 2030. Delegates emphasized the integration of digital technologies, such as blockchain, to enhance transparency and traceability in carbon markets. Progress in satellite-based monitoring systems was recognized for their capacity to track deforestation and emissions in real time, thereby strengthening accountability measures.

Discussions also focused on the role of technology in promoting climate resilience, particularly through early warning systems for natural disasters and innovative water management solutions in regions affected by climate stress. The outcomes of COP 29 reaffirmed the critical importance of global collaboration to foster innovation, scale transformative solutions, and ensure equitable access to the technologies needed to achieve a sustainable and climate-resilient future.

Moderator: Adel Ben Youssef