Thursday, November 14, 2024 The UN Global Compact, in collaboration with the UN Environment Programme (UNEP) and UN Climate Change (UNFCCC), convened the 12th Annual High-Level Meeting of the Caring for Climate initiative today at COP29 in Baku. This pivotal event gathered influential leaders from business, finance, government, civil society, and the United Nations to drive forward climate finance commitments and advance the global climate agenda. Focusing on the theme of COP29 as the “Finance COP,” the event emphasized the urgent need to mobilize and align both public and private financial resources to achieve ambitious climate goals.
Discussions centered on accelerating investments aligned with Nationally Determined Contributions (NDCs) under the Paris Agreement and transforming these pledges into actionable investment roadmaps to support climate adaptation, mitigation, and resilience. Sanda Ojiambo , CEO and Executive Director of the UN Global Compact, highlighted the private sector’s pivotal role in the climate finance landscape. Ojiambo stated, “Mobilizing both public and private finance is essential to achieving our climate goals.
By bringing together business leaders, governments, and civil society, we are transforming national climate commitments into practical investments that will drive sustainable development and safeguard our future.” The discussions during the session revolved around several pressing priorities: 1. Turning NDCs into Concrete Investment .
