• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

COP29 Host Reveals Climate Funding and Energy Storage Goals

11 months ago
in Business, Energy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
92
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

COP29 Host Reveals Climate Funding and Energy Storage Goals

On Tuesday, Azerbaijan, which will host the COP29 climate summit, unveiled a dozen initiatives it hopes to achieve at the November meeting, including funds to help developed countries lower emissions and fight climate change and a significant boost to energy storage globally.

The Azerbaijani COP29 Presidency sent a letter to all parties, outlining the ‘Action Agenda’ for the upcoming climate summit.

One of the outcomes the Presidency looks to achieve is to broker a deal on a Climate Finance Action Fund (CFAF). This fund would be made of voluntary contributions from fossil fuel-producing countries and companies and will be aimed at catalyzing the public and private sectors across mitigation, adaptation, and research and development.

“The Fund will also have special facilities for highly concessional and grant-based funding to rapidly address the consequences of natural disasters in the developing countries in need,” the presidency said.

On energy storage, COP29 will aim to have parties pledge a target to boost global energy storage capacity six times above 2022 levels, reaching 1,500 gigawatts (GW) by 2030. To enhance energy grids, endorsers are also expected to commit to considerably scaling up investments in grids as part of global efforts to add or refurbish more than 80 million kilometers (49.7 million miles) by 2040.

The previous climate summit, COP28 in Dubai, which ran one day into extra time amid heated debates on the future of fossil fuel use and production, ended with a compromise text referencing for the first time a call to all parties to transition away from fossil fuels.

RelatedPosts

Dollar Slides as Trump Fires Fed Governor Lisa Cook

IISD and IMANI to Host Roundtable Shaping Ghana’s New Independent Fiscal Authority

Premier League: Ngumoha’s Late Goal Seals Liverpool’s Thrilling Win Over Newcastle

But the final agreement was watered down compared to any references to phasing out or phasing down of fossil fuels, as objections from many oil exporting countries – led by Saudi Arabia – held back talks in the final days and sent the conference into overtime.

Ahead of the summit this year, several major oil-producing countries, including Saudi Arabia and Russia, are pushing back against talks on an agreement to mitigate the use of fossil fuels, negotiators from Western countries told the Financial Times last week.

Source: oilprice
Via: norvanreports
Tags: Climate FundingCOP29COP29 Host Reveals Climate Funding and Energy Storage GoalsEnergy Storage Goals

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

US Open: Venus Williams and Keys Bow Out as Alcaraz Launches Campaign

GSE Opens Week Higher as CPC Posts First Gain of 2025

Asante Gold Announces Completion of $500m Financing Package to Boost Bibiani and Chirano Growth Plans

Gov’t Pledges to Intensify Reforms in Gold Sector Ahead of Crucial Anti-Money Laundering Assessment

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers

How Artificial Intelligence Is Both Driving and Derailing Decarbonization

Trending

Business

Dollar Slides as Trump Fires Fed Governor Lisa Cook

August 26, 2025

Dollar Slides as Trump Fires Fed Governor Lisa Cook President Trump has fired Federal Reserve Governor Lisa...

IISD and IMANI to Host Roundtable Shaping Ghana’s New Independent Fiscal Authority

August 26, 2025

Premier League: Ngumoha’s Late Goal Seals Liverpool’s Thrilling Win Over Newcastle

August 26, 2025

US Open: Venus Williams and Keys Bow Out as Alcaraz Launches Campaign

August 26, 2025

GSE Opens Week Higher as CPC Posts First Gain of 2025

August 26, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.