November 25, 2024 /3BL/ - Ceres President and CEO Mindy Lubber issued the following statement after COP29, as global negotiators at the climate summit in Baku, Azerbaijan, finalized an agreement to help keep the world on track to reduce pollution dangerously overheating the planet.

“Today’s agreement shows once again that finance and markets will play a central role in achieving the world’s shared goal of preventing the worst impacts of climate change. While we would have liked to see more global ambition for funding to help developing nations adapt to and mitigate the effects of a changing climate, we are pleased to see an expanded contributor base and clear standards for carbon markets worldwide. Ceres is confident that governmental efforts to direct funding toward these efforts will unlock exponentially greater private capital across the world.

“It is clear coming out of Baku that public and private sectors worldwide will continue to seek solutions to address the climate crisis. At the start of COP29, more than 650 investors with $33 trillion in assets signed the 2024 Global Investor Statement, calling for a whole-of-government approach to implement economy-wide policies in line with the Paris Agreement goal to prevent worsening and costly climate disasters. We also applaud the governments that issued new Nationally Determined Contributions as they aim to reduce pollution that is dangerously overheating the planet and to adopt innovative technologies that will drive their economies forward.

“As the U.S. prepares for a transition of power and an expected change in approach to climate policy, it must not lose sight of this continued global momentum in both the public and private sectors. America is amid a nationwide surge in clean energy investment, led by the private sector but facilitated by state and federal policies, that has it well-positioned to meet the growing demand around the world for solutions. Backsliding on U.S. policy would have negative impacts on its economic growth and global competitiveness as the world pushes forward to build and deploy clean technologies that will prevent the worst impacts of climate change.”

About Ceres

Ceres is a nonprofit advocacy organization working to accelerate the transition to a cleaner, more just, and sustainable world. United under a shared vision, our powerful networks of investors and companies are proving sustainability is the bottom line—changing markets and sectors from the inside out. For more information, visit ceres.org.