Ocean & Climate Platform A healthy ocean, a protected climate

The curtain fell on COP29 on Sunday 24 November after two weeks of intense and challenging negotiations. Hosted by Azerbaijan, COP29 was marked by strong divides and tensions between developed and developing countries. Tasked to adopt a New Collective Quantified Goal on climate finance to support developing countries in their climate efforts, delegates agreed on mobilising at least USD 300 billion annually from developed countries, and at least USD 1.3 trillion annually from all financial actors, by 2035. While this agreement marks a positive step forward, it is still far from sufficient to meet the needs of developing countries which are facing the ever-growing impacts of climate change. Moreover, questions remain on how the ocean, our best ally in the fight against climate change, will benefit from this increase in climate finance. Focused on political issues, there were limited opportunities to advance the ocean-climate nexus in the negotiations and secure ocean language in text decisions. Yet, the ocean community remained active to ensure it stayed visible. For more information on this please click here