The important role of financial institutions in climate action

Mandera Secondary School students plant trees on October 9, 2024. [ Ibrahim Adan Ali, Standard]

As the UN Climate Change Conference (COP 29) in Baku, Azerbaijan, gets underway today, the spotlight is on the pivotal role financial institutions will play in addressing the escalating climate crisis. Delegates will be seeking global collaboration on tackling the climate crisis with urgency and ambition, as a follow up to the commitments made in the previous years.

This year's 10-day conference is poised to build on the momentum established at COP 28, where countries and stakeholders came together to reaffirm their commitment to climate action amidst the urgent need for robust financial mechanisms.