Momentum building on climate finance and climate action
GRI Climate Change and Energy Standards examined at New York Climate Week
Photo credit: GRI
At Climate Week 2024 in New York, climate finance and corporate transparency were major topics. Harold Pauwels, GRI’s Director of Standards, led discussions on GRI’s upcoming Climate Change and Energy Standards. Reflecting on progress since COP28, In this Medium article he highlights what's to come:
COP28 in Dubai saw major climate pledges, including $57 billion in commitments and the launch of the Loss and Damage Fund. However, adaptation funding fell short. As we look to COP29 in Baku, finance alone isn’t enough. Nations must commit to transparent, ambitious climate plans.
During Climate Week, GRI emphasized how private sector accountability can bridge the gap. Two new standards under development on climate change and energy will prioritize reporting that addresses emissions reduction, renewable energy, and a just transition approach.
Increased corporate transparency and stronger accountability are essential parts of this complex equation. But it’s not just about the environment – it’s about inclusivity. COP29 must bring diverse stakeholders to the table, ensuring that all voices are heard and driving equitable solutions that leave no one behind.
Harold Pauwels, Director of Standards at GRI