Weekly News Highlights
This week, nearly 200 global delegates convened in Baku for COP29, focusing on a pivotal theme: environmental finance. Dubbed the ‘finance COP’, the summit emphasises financial commitments from wealthier nations to aid vulnerable countries in their green transitions and environmental resilience. High-profile leaders showcased their commitment, with the UAE pledging $6.5 billion to boost renewable energy investments. In a first for COP, the environmental impacts of artificial intelligence will take the spotlight on ‘Digitalisation Day', where experts will debate sustainable pathways for AI growth.
On a related note, Saudi Arabia announced a late 2026 launch target for its national carbon market, aiming to drive emissions reduction through innovative approaches. Additionally, Carbon Direct’s latest State of the Voluntary Carbon Market?report underscores a critical need to expand carbon dioxide removal efforts, especially nature-based solutions, which remain underrepresented in the market.
For an in-depth look, we invite you to explore the full update.
Delegates from nearly 200 countries are gathering in Baku for COP29, an 11-day environmental summit. This year’s talks, often called the ‘finance COP’, centre on setting ambitious climate finance targets. Wealthy countries are expected to commit larger funds to support vulnerable nations in their green transition and resilience against environmental impacts.
The COP29 summit commenced in Baku, Azerbaijan, with an intense first day marked by high-profile speeches and resolved tensions over the summit's agenda. UAE’s COP28 President Sultan Al-Jaber highlighted record growth in renewable energy investments and the UAE’s commitment of $6.5 billion through its Alterra green fund.
The 29th UN Climate Change Conference is set to address the growing environmental impact of AI for the first time. Kicking off in Baku, the event includes a dedicated ‘Digitalisation Day’, where industry leaders, policymakers, and environmental advocates will discuss AI's environmental footprint.?
Saudi Arabia is progressing toward the launch of its carbon market, with a targeted start date of late 2026 or 2027. This announcement came at the eighth Future Investment Initiative (FII) summit, where government officials and business leaders outlined key steps in the kingdom’s roadmap to reduce carbon emissions.
Carbon Direct’s 2024 State of the Voluntary Carbon Market report highlights an urgent need to expand carbon dioxide removal, especially in nature-based solutions, to achieve global environmental goals. While CDR technologies are gaining attention, they currently make up only 4% of the market.
If you're keen to dive deeper into the carbon market and explore topics related to environmental sustainability, this is your go-to source for insightful information.
Read the full articles on Green Earth News here.
Stay updated on the latest news about global environmental initiatives and the carbon market with Green Earth News. Collective and informed action is our most powerful tool for ensuring a sustainable future.