Ceres at COP29

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The largest investors and companies are increasingly setting climate goals and adopting transition action plans, detailing how they will align their strategies with a low-carbon future. But businesses can’t tackle the climate challenge alone. World governments must deliver their promise to increase investments in renewables and energy efficiency and move away from fossil fuels.  

At COP29, the private sector will deliver the most comprehensive call for government action. The 2024 Global Investor Statement to Governments on the Climate Crisis, which publicly opened in September, has already garnered 534 financial institutions and their representatives with US$29 trillion in assets under management. The statement with the full list of signatories will be presented to world leaders at COP29. Learn how you can be part of this call for government action.

Investors are encouraging a whole-of-government approach to achieve a climate-resilient, net zero emissions economy by 2050 or sooner. To reach this goal, the statement calls for governments to enact essential policies across five groupings:

• enacting economy-wide public policies;

• implementing sectoral strategies, especially in high-emitting sectors;

• addressing nature, water and biodiversity-related challenges contributing to and stemming from the climate crisis;

• mandating climate-related disclosures across the financial system; and

• facilitating private investment into climate mitigation, resilience, and adaptation activities in emerging markets and developing economies.

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Leaders at COP29 will also call for the full implementation of the historic U.S. Inflation Reduction Act and Infrastructure Investment and Jobs Act that have already ushered in a new era of clean energy and economic opportunity. Businesses have taken advantage of the federal laws’ incentives and tax credits to launch hundreds of new projects that have created hundreds of thousands of jobs nationwide, but much more is to be gained. Policymakers from both sides of the aisle continue to praise the laws, including 18 Republican House members who expressed their support this past summer for the federal clean energy tax credits—a sign of further affirmation of the laws’ effectiveness in building bipartisan support.

The urgency for action from both the private and public sectors is imperative. COP29 is a moment to raise global ambition and move forward together.

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For more information about COP29, visit unfccc.int/cop29 or cop29.az/en

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