With global temperatures currently hitting record highs and extreme weather events affecting people around the globe, the United Nations Climate Change Conference, popularly referred to as COP29, on Tuesday, November 12, 2024, brought together government and business leaders as well as the civil society to proffer concrete solutions to global climate challenges.A key focus of this year's COP29 was on finance as "trillions of dollars are required for countries to drastically reduce greenhouse gas emissions and protect lives and livelihoods from the worsening impacts of climate change", the United Nations COP 29 outlined on its website.During the conference, UN Climate Change Executive Secretary, Simon Stiell emphasized the need for the leaders to find lasting solutions to the global climate crisis."As climate disasters hit supply chains and food production harder each week, climate change is global inflation insurance", he said."Let's get a good result", he called for the COP29 member countries to cooperate to curb global warming.Highlighting the importance of global investment to limit global warming, Simon Stiell said; "Many of you have been reporting on the climate implications of political events in the last weeks.
I'd just say this, our process is strong.
It's robust and it will endure, after all global cooperation is the only way humanity survives global warming.
It is only through that engagement, only through that cooperation that we going to get through this crisis."He also noted that the IEA "predicts two trillion dollars will be invested in clean energy and infrastructure this year alone" but stressed "it's only a fraction of the global economy".Also speaking at the event, COP29 Lead Negotiator, Yalchin Rafiyev avowed that "COP29 is a defining moment for multilateral climate action. We have already made progress during the year but there is much to be delivered during COP29 and we have complex issues to address...We have many significant priorities that the world is counting on us to deliver and we could not afford delay.