Simon Stiell, Executive Secretary of UN Climate Change, emphasized the critical need for equitable distribution of climate finance at COP29, pointing out that while investments in clean energy and infrastructure are projected to reach $2 trillion this year, they remain concentrated in a few major markets.
He argued that climate action is not just environmental but economic, framing it as “global inflation insurance” amid increasing climate-driven disruptions to supply chains and food production.
Stiell urged nations to reach a strong outcome on finance to address current crises and stimulate sustainable economic growth, jobs, and health benefits.
Adding to these remarks, COP29 Climate Change High-Level Champion Nigar Arpadarai highlighted the importance of inclusive engagement with non-state actors. She introduced an inaugural business, investment, and philanthropy platform, slated for November 14 within the Blue Zone, aimed at mobilizing private-sector and philanthropic contributions toward climate goals.
Arpadarai further announced initiatives supporting small and medium enterprises (SMEs) in their green transitions, underscoring COP29’s commitment to turning climate challenges into opportunities.
