*[Enwl-eng] Here is the latest news from the High-Level Champions!
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Fri Nov 15 16:21:31 MSK 2024
Email from UNFCCC
UN Climate Change – Global Climate Action
15 November 2024
High-Level Champions'
Top of the COP
Newsletter
Building Resilience Today: Investing in People, Nature, and Clean Energy for a Sustainable Future.
FRIDAY, 15 NOVEMBER
Driving the day
On Energy and Resilience Day, with the launch of the Sharm el Sheikh Adaptation Agenda 2024 report and new partners joining Race to Resilience, there are clear signals of positive action on adaptation and resilience. Similar progress is reflected on energy day from non-State actors contributing to the tripling renewable energy capacity and doubling energy efficiency targets of the UAE Consensus.
Launched at COP 28 and including 45 utilities and power sector suppliers under the guidance of the International Renewable Energy Agency (IRENA) and the UN Climate Change High-Level Champions, the Utilities for Net Zero Alliance (UNEZA) announced increased membership and annual investments on grids and renewable power generation capacity, supporting the COP 29 grids and storage pledge.
The Latin America Energy Organization (OLADE) announced a Regional Target for Energy Efficiency set by member countries to deliver the doubling outcome of the Global Stocktake and a regional agreement on No More Coal-Fired Power Plants in the region. In addition, the Hydro4NetZero-LAC initiative will be launched to develop and modernise sustainable hydropower infrastructure increasing the energy systems’ flexibility and resilience.
The African Energy Commission (AFREC) launches a continental level Energy Efficiency Programme, Strategy and Action Plan, establishing a roadmap for the industry, electricity supply (generation and grids), appliances (including clean cooking), buildings, transportation, and agriculture sectors.
This builds on earlier announcements at COP 29 including:
● The listing of the CIF Capital Markets Mechanism (CCMM), on the London Stock Exchange. As a provider of concessional catalytic finance CCMM has the potential to mobilize up to USD 75 billion in additional climate capital over the next decade to support clean energy transitions in emerging and developing economies. This will further crowd in private sector investments through innovative finance solutions for bankable packages.
● Mediterranean Countries kickstarted a new phase of their initiative to develop 1 TW of renewable capacity by 2030 - through the TeraMed initiative, led by MEDCEN steered by the Pooled International Fund for Energy, ECCO, along with key institutional partners, such as IRENA, the Global Renewables Alliance, Union for the Mediterranean, and the League of Arab States, in addition to supporters from civil society and business organisations.
● Building on the Global Methane Pledge (GMP) and leveraging the High-Level Champions’ convening power, the Global Methane Hub will support ‘Bending the Methane Curve in MENA’ that will be implemented by the Regional Center for Renewable Energy and Energy Efficiency (RCREEE). The program seeks to reduce methane emissions from the energy sector and will focus on developing robust regulatory frameworks, enhancing capacity for real-time emissions tracking, and implementing methane reduction technologies.
And supporting the transformation of the energy sector, members in the Race to Zero are taking action. Winery members collectively produce 34 million kWh of onsite renewable energy and cities including Seattle, San Francisco, Los Angeles, and New York City have divested over US$84 billion from fossil fuels, redirecting funds toward renewable energy and green job-creating climate solutions.
Non-State actors rally for resilient communities
In 2024, seven new partners joined the Race to Resilience campaign, including its first Indigenous-led initiative, the Tenure Facility. This partner aims to enhance resilience for 15 million people by securing land and forest rights across 60 million hectares. The campaign also expanded to four new regions via RegionsAdapt—Assam in India, Louga in Senegal, Pernambuco in Brazil, and Andalusia in Spain—reaching over 450 million people. These advancements are featured in the 2024 Race to Resilience Dashboard, published today. The campaign demonstrates the vital role of non-state actors in keeping adaptation and resilience at the forefront of the Global Climate Action Agenda.
Private Adaptation Finance is enabling local adaptation solutions investments
Following the six recommendations to leverage private finance for adaptation, successful catalytic capital and strategies unleash the potential to accelerate adaptation action with finance innovation, including:
● GAWA Capital and the Green Climate Fund will sign an agreement to provide an extra EUR 25 million in public finance for a EUR 300 million fund targeting smallholder farmers and small business owners in developing countries. Another EUR 5 million will be directed for technical assistance to support local businesses and generate positive environmental impact.
● The Lightsmith group launches SCALE (Systemic Capital for Adaptation Localization and Expansion) -- a virtual green bank for adaptation which serves as a one-stop shop for adaptation and climate resilience investment instruments. The private equity firm previously secured USD 100m in catalytic capital from USAID.
● Invesco is launching an adaptation finance and investments strategy focused on Emerging Markets and Developing Economies and most vulnerable regions to climate change.
● In the MENA region, the private sector is investing in regenerative agriculture and empowering smallholder farmers. SEKEM and Egypt Financial Supervisory Authority (FRA) agreed on the need to address challenges in the Voluntary Carbon Market (VCM) to allow smallholder farmers to trade validated carbon credits on the international Voluntary Carbon Market (VCM).
● The second year of MENAT Regenerative Agriculture Venture Programme was launched by Goumbook to empower and up-skill researchers, students and innovators who are addressing fundamental agricultural challenges.
● Race to Resilience partner, The International Coalition for Sustainable Infrastructure (ICSI) launched its latest Climate Resilient Infrastructure Report: A Focus on Technology, highlighting over 50 case studies, tools and initiatives that harness technology to build the resilience of over 119 million people globally through infrastructure.
2030 Climate Solutions: Scaling actions to build resilience of systems
Businesses, communities, cities and regions and financiers are intensifying their commitment to adaptation and resilience. The Sharm el Sheikh Adaptation Agenda 2024 Implementation Report highlights expanded efforts to scale impactful solutions.
Key examples of progress in 2024 include:
● Food and Agricultural Finance: Through the Forum for Insurance Transition to Net Zero (FTI), 19 insurers and reinsurers have committed to reducing risk in agricultural investments.
● Health: Launch of the Guiding Principles on Financing Climate and Health Solutions, which led to a number of financial commitments including USD 300 million from the Global Fund and USD 100 million from The Rockefeller Foundation
● Human Settlements: Initiatives like Climate Resilient Housing are enhancing the safety of 1.17 million people, including 588,013 women. In parallel, early warning systems such as EWS4All, CREWS, and DARAJA are making significant impacts, with DARAJA alone reaching one million people.
● Oceans: The Ocean Resilience and Climate Alliance (ORCA) philanthropic initiative secured USD 300 million to support ocean-climate solutions. In addition, USD 225 million in direct investments has been mobilized for the Coral Reef Breakthrough by the Global Fund for Coral Reefs (GFCR) In addition, GFCR launched its Call for Capitalisation, with donors and investors already starting to answer the call! With nearly USD30 million already committed toward the USD 150 million UN Ocean Conference target.
● Infrastructure: In 2023, USD 310 billion in investments were made toward resilient infrastructure, with significant advances in grid transmission and distribution projects to enhance climate resilience.
● Private sector investment in adaptation: Private Sector engagement in adaptation is been strongly enhanced through the launch of key frameworks and partnerships like Climate Resilience Pathways Report, Resilience4Ports and Business Action for Adaptation and Resilience.
● The Resilience Innovation through Scaling Entrepreneurship (RISE) Challenge was launched by the Global Resilience Partnership (GRP) as a Challenge to foster innovative urban resilient ideas that are meeting resilience needs in informality contexts and scale them to sustainable business ideas.
These collective efforts illustrate the power of strategic partnerships in accelerating adaptation and resilience across critical systems, safeguarding communities, and setting a strong course for climate resilience by 2030.
Making an Impact
In the face of the climate crisis, solutions are emerging faster than ever, tackling every aspect of the challenge. The High-Level Champions’ new series, Impact Makers, shines a spotlight on those leading this change from the ground up.
Discover today’s Impact Makers, helping accelerate the race to a cleaner and more resilient world.
BASIMA ABDULRAHMAN – Pioneering renewable energy solutions in Iraq
SHEELA PATEL – Building resilient, low-carbon housing solutions for informal settlements
KHALED MOHAMED NOBY – Balancing renewable energy expansion with biodiversity conservation in Egypt
RAGY RAMADAN – Delivering clean energy and safe water to underserved communities
Youth Voices
Ferdison Valmond, Race to Resilience Youth Fellow, explains how inclusive climate action can create a more resilient and fairer world, highlighting the campaign’s commitment to empowering underrepresented groups to ensure they play an active role in shaping climate resilience efforts.
Call for inputs: COP29 climate action announcements
The UNFCCC secretariat is tracking climate action announcements made at COP 29, including the launch of:
● climate initiatives;
● pledges and declarations;
● publications and reports;
● any other climate action announcements.
This information will be used to inform the Global Climate Action Portal (GCAP), formally known as Non-State Actor Zone for Climate Action (NAZCA), in particular, on its COP 29 event page. Please find the online form to submit your inputs here or via the QR code below.
About the High-Level Champions: The UN Climate Change High-Level Champions drive ambitious climate action by connecting the work of national governments with the many voluntary and collaborative actions and initiatives from non-Party stakeholders such as cities, regions, businesses, investors and civil society. This includes delivering the five-year plan of the Marrakech Partnership for Global Climate Action, in collaboration with the UNFCCC secretariat and other partners, using the tools and frameworks included in the 2030 Climate Solutions. H.E. Razan Al Mubarak and Ms. Nigar Arpadarai serve as the current High-Level Champions of the COP 28 Presidency and the COP 29 Presidency, respectively.
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From: Global Climate Action
Sent: Friday, November 15, 2024 12:06 PM
Subject: Vladimir, here is the latest news from the High-Level Champions!
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