COP29 is over – but how will the key decisions impact your business? 

Following two weeks of intense negotiations, COP 29 – the United Nations’ 29th annual global climate conference – formally closed on 24 November. 

With the year 2024 on track to be the warmest year on record according to the World Meteorological Organization, the global dialogue in Azerbaijan was held against a striking background of impacts of climate change. 

Inspired’s ESG experts have kept a close eye on the conference – dubbed the ‘Finance COP’ – throughout, sharing their insights on how the decisions made will impact businesses on our COP29 Hub. 

On 28 November, Dr Michelle de Jongh, Managing Director, and Kristina Beadle, ESG Director of Inspired ESG, sat down to discuss these impacts in more detail in our “How will COP29 impact your business?”– webinar.  

When examining the conference’s aftermath, one of the potential consequences our experts raised is the increasing amount of reporting requirements for businesses regarding their near- and long-term targets.  

The audience poll from the day demonstrated that this target-setting is already well in motion. Most respondents stated their business had already set a net-zero target, as well as near-term targets across their Scope 1, 2 and 3 emissions. 

The ESG space is witnessing significant investment both at a national and business level. Investors are moving their attention from initial promotion towards outcomes and companies demonstrating their actions towards them. 

Despite this increasing momentum, an overwhelming 91% of the attendees to take part in our poll on the day viewed ESG as a benefit – rather than a burden.

When discussing the practical steps businesses can take, our experts discussed the role the “3Bs”, Baseline, Budget and Buy-in across the company, play in realistic target-setting. 

Unsure about your own next steps? Inspired’s experts can support your business in navigating the ever-changing ESG space, including measuring Scope 1,2 and 3 carbon footprints, developing your net-zero strategy and producing climate-related financial disclosures.