COP29 resource center

Innovation to net zero

An emerging global ecosystem of climate innovators is developing a wide range of exciting new green technologies. Their challenge is to secure funding, find industrial partners to test and pilot new products, and commercialize at scale.

KPMG firms are working with clients large and small to help them fulfil their potential and unleash climate, sustainable energy, carbon reduction and removal solutions. Calling on our deep knowledge of the public and private sectors, KPMG professionals can assist with matters like regulation, risk and value assessment, finance and investment, data management, and complex stakeholder processes.

Cities have a crucial role to play in the net zero transition, which is why KPMG developed the Net Zero Urban Program in collaboration with United Cities, to accelerate decarbonization in urban environments. 

Energy transition

Scaling up the development, provision and adoption of renewables requires a huge, collaborative effort from governments, businesses, regulators, investors and consumers. This involves significant investment in grid infrastructure, and faster planning and permitting to provide the land needed to generate the power. Energy storage capacity should be expanded at pace, along with incentives to accelerate innovation of all relevant renewable technologies.

Many of the raw materials needed to drive the green revolution are in short supply, while extraction – along with construction of renewable facilities – carries risks to nature and biodiversity. The renewables industry itself may be vulnerable to climate change, so any solutions must attempt to build resilience to ensure a ready future supply of clean energy for all nations, rich and poor.

Climate and nature nexus

As biodiversity become a growing priority, businesses are learning more about how their operations affect the natural world – and what they can do to mitigate any negative impacts. Driven by the Taskforce on Nature-related Financial Disclosures (TNFD), regulators are increasingly asking organizations to incorporate both climate- and nature-related risks into their reporting.

Understanding the requirements of both the TNFD and the TCFD (Taskforce on Climate-related Financial Disclosures) is essential, in order to satisfy regulators, investors, customers and other stakeholders. Boards are under significant pressure to address environmental issues, and need to grasp the implications of climate and nature risks and opportunities. We recommend an integrated approach, to embed sustainability and evolve to a circular, climate- and nature-friendly business model.