In solidarity for a green world
The upcoming COP29 in Baku, Azerbaijan, will once again draw together world leaders, policymakers, industry innovators, and environmental activists to exchange ideas and formulate strategies to tackle climate change. KPMG will be at the center of the action, monitoring developments and generating regular insights and status updates.
As we approach this year’s event, please keep an eye on this KPMG COP29 resource center for resources that can help businesses better understand their nature- and climate-related risks and learn about cutting-edge sustainable practices and technologies that can increase environmental efficiency.
Every business has a part to play in reversing the catastrophic impacts of climate change, and we want to help with this critical endeavor in any way we can.
KPMG program at COP29
Accelerating the energy transition
Accelerating the energy transition is the most critical step in helping to decarbonize the global economy, and as energy demand continues to rise, the transition to clean energy solutions remains a challenge due to cost, policy and technology maturity issues. Events and thought leadership associated with this theme are outlined below:
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New solutions to achieve the 2030 target of tripling global renewable energy capacity: the role of finance, technology, innovation, and AI (Flagship event) Following our COP28 report on the key challenges of scaling renewables, this session will explore several solution areas that will help in meeting this critical climate ambition by 2030. Location: Azerbaijan Pavilion, Blue Zone & Turkish, Pavilion, Blue Zone CCUS — Building the foundation to a net-zero future Exploring the future of Carbon Capture, Utilization and Storage (CCUS) and its crucial role in achieving net-zero. Location: REA/KPMG Pavilion, Blue Zone Coal to Renewables Transition Initiative: Supporting the World Economic Forum As financial advisor to this WEF project, this session will include a project overview and provide an outline for the financing structures that have been developed to help achieve this global objective. Location: REA/KPMG Pavilion, Blue Zone Energy Transition Mechanism (ETM) Fund: Enabling the managed phase out of coal power projects Featuring panelists from the Asia Development Bank and KPMG, gain insights into the design of an ETM Fund on coal power plant phase out being launched at COP29. Location: REA/KPMG Pavilion, Blue Zone Green Transformation: Diverging Paths, Common Goals Bringing together leaders from Asia, the US, and Europe, this panel discussion will look at various energy transition strategies and the role that climate finance has to play. Location: REA/KPMG Pavilion, Blue Zone |
Great expectations: Navigating the future of energy transition investments Exploring the dynamic landscape of investments in the energy transition sector. ACED Through AI Looking at AI’s potential to accelerate clean energy deployment. Coal to Renewables Transition Initiatives Overview of new financing structures to phase out Coal Fired Power Plants. Global ambition to triple renewable energy capacity: where are we 12 months later Report tracking progress in renewable energy scaling in a number of key emerging market jurisdictions. |
Climate finance for emerging markets
The acceleration and global impact of climate change necessitates a large-scale response, with an urgent need to fill the growing financing gap for transitioning to a low-carbon economy, enhancing climate resilience, and protecting nature, particularly in emerging markets. Events and thought leadership associated with this theme are outlined below:
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Beyond finance as usual: transitioning to a sustainable future (Flagship event) Explore transition finance opportunities for private capital mobilization for emerging markets, including innovative financing mechanisms, partnership efforts between public, philanthropy and private sectors, as well as the key barriers to this transition. Location: Green Zone Pulled finance: Pulling innovations into emerging markets at scale How can pull finance be leveraged to accelerate climate technology in emerging markets? Hear from a panel who will discuss how pull finance can act as an enabler for ‘pulling’ new climate solutions to market. Location: Canadian Pavilion, Blue Zone UNDP & KPMG joint dinner on climate finance KPMG and UNDP bring together leaders from both the public and private sector to discuss key global challenges on climate finance. This is an invite only event. |
UNIDO Project on Clean Energy Technologies The Accelerate-to-Demonstrate (A2D) Facility, a collaboration between the UK Government’s Department for Energy Security & Net Zero and UNIDO, aims to accelerate the commercialization of clean energy technologies in developing countries. |
Corporate decarbonization
To deliver net zero by 2050, it’s clear that the corporate world should move from setting climate targets and ambitions to implementing a strategy that can help this transition. It is more important than ever to highlight the value opportunity that can arise by implementing a transition plan that creates a more sustainable future for all. Events and thought leadership associated with this theme are outlined below:
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Climate Transition Plans: Challenges and Solutions Join a panel of experts as they look at climate transition plans, including the challenges and opportunities behind developing fit-for-purpose climate transition plans. Location: Turkish Pavilion, Blue Zone Greenwashing: Are Your Green Claims Robust Enough to Withstand Scrutiny and Avoid Greenwashing Accusations? With sustainability and transparency at the forefront of the business landscape, the issue of greenwashing has emerged. During this session, panelists will provide their view on the trends and risks associated with greenwashing and appropriate protective responses. Location: Turkish Pavilion, Blue Zone Unlocking the Scope 3 Opportunity — Insights from Asia Pacific Join this panel discussion to gain insights on the Scope 3 emissions landscape in the Asia Pacific region, with real-life examples of how companies are responding to one of the defining climate challenges of our time. Location: REA/KPMG Pavilion, Blue Zone Decarbonization Marketplace KPMG, Sustainable Energy Association of Singapore (SEAS) and Enterprise Singapore (ESG) will showcase decarbonization platform for matching projects with technology and financing. Location: Singapore Pavilion, Blue Zone KPMG ESG Reporting Tool Launch At COP29, KPMG will launch the KPMG ESG Reporting Tool, which enables companies to track and report their emissions and ESG performance in line with relevant guidelines. Location: REA/KPMG Pavilion, Blue Zon |
The state of climate transition in Germany’s industrial sector today A holistic view on where the sector stands regarding climate risks and opportunities. The Challenge of Greenwashing: An International Overview Understanding the reputational and legal risks of greenwashing for corporates and governments. Chasing Net Zero: Are ICT Sector Plans on Track? A summary of Net Zero trends, risks, and opportunities for ICT companies in EMA. From Talk to Action: Paving the way for a circular economy in the consumer goods and retail industry Developed through extensive research and analysis, this report dives into six key areas of circularity readiness, offering a comparison of progress and identifying opportunities for improvement.
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The Climate:Food Nexus
The global food system is a significant contributor to climate change, accounting for approximately one-third of global greenhouse gas emissions. A transition to sustainable food systems is imperative for mitigating climate change, ensuring food security, and promoting human health. Events associated to this theme are outlined below:
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Green Plate for all: Decarbonizing our food systems Aligning the SDG and Paris Agreement goals, this session will demonstrate the interconnections between climate change, food security, and human well-being, as well as the actions necessary for a more sustainable future. Location: REA/KPMG Pavilion, Blue Zone |
Adaptation and Resilience
Adapting and achieving resilience in today’s climate landscape will require coordinated action at local, national, and international levels, along with substantial investment in infrastructure. Events and thought leadership associated to this theme are outlined below:
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Innovative technology for resilient infrastructure Accompanying the launch of a report in collaboration with ICSI, explore how digitalization and AI are driving infrastructure resilience and sustainability to support climate adaptation. Location: Resilience Hub Pavilion, Blue Zone Economic approaches for assessing climate change adaptation options under uncertainty In collaboration with UNDRR, this panel will explore how capitals accounting and economic valuation can guide adaptation investments, showcasing industry best practices and how this can drive resilient climate responses. Location: REA/KPMG Pavilion, Blue Zone Roundtable on the economics of adaptation (with a focus on capital based measurement) This roundtable will focus on integrating capitals accounting and valuation into adaptation project business case analysis, capital deployment, and investment: building on a dialogue between the same topic to be run at COP16. Location: REA/KPMG Pavilion, Blue Zone |
Innovative technology for resilient infrastructure In collaboration with ICSI, this report explores the role of digitalization and AI in enhancing the inclusivity, resilience and sustainability of infrastructure. Guide for adaptation and resilience finance In collaboration with Standard Chartered Bank and UNDRR, KPMG has produced a financing roadmap, designed to galvanize funding ahead of COP29. |
Other KPMG initiatives at COP29
In addition to the above themes, KPMG will also be focused on the below initiatives that can help in navigating the global climate challenge and how to achieve a just energy transition.
At KPMG, we believe much greater attention needs to be paid to the impact the climate crisis will have on global healthcare. According to the World Health Organization, the climate crisis is the single biggest threat to health, resulting in 300,000 deaths annually, and it will affect the most vulnerable in our society. Our perspective is that the impact on health will be at least as great as the financial and physical impacts of climate change. We see two key issues:
1. Health systems must adapt to climate change and become resilient, and;
2. Health systems must reduce their own emissions and contribute to global efforts.
The City Leaders’ Forum at the 2023 Asia Pacific Cities Summit & Mayors’ Forum, Shaping Cities for our Future, provided a powerful opportunity for attendees to share strategies and insights into the delivery of lasting value to citizens. Based on the outcomes of the City Leader’s Forum, KPMG developed a key framework to help city leaders unlock new and innovative forms of value for their citizens. The sustainability edition of the report brings in waste management and circular economy aspects to the framework. KPMG will host a panel of experts who will discuss this report at COP29.
Under the CSDDD, corporates operating in the EU will need to prepare an environmental and human rights due diligence across their entire value chain from 2027 onwards.
In addition, in scope companies will need to prepare and implement a climate transition plan. Please connect with the KPMG team on the ground at COP29 to discuss the full implications of CSDDD.
During Summer 2024, KPMG’s Leaders 2050 network conducted a global survey to understand the perspectives of young professionals on climate, sustainability and social impact, their perception of business’ role and risks, and the impacts on their careers. Check out the digital experience to dive into the data, hear client stories and find more information on the Leaders 2050 network and mission.
