COP29 in Baku served as a critical milestone in the global effort to tackle climate change, bringing together policymakers, innovators, and industry leaders to accelerate progress toward the Paris Agreement goals. As a company dedicated to enabling credible climate action, Coral was honored to actively participate in key discussions, share insights, and showcase innovative solutions that empower businesses to achieve sustainability objectives.

Insights from the 2024 NDC Report

The 2024 NDC (Nationally Determined Contributions) Report presented encouraging yet incremental progress. Global emissions projections for 2030 have been revised slightly downward to 51.6 Gt CO₂e, compared to 52.4 Gt CO₂e in 2023. While the gains are modest, they highlight the growing momentum and the critical role of collaboration in advancing climate solutions.

Key takeaways from the report included:

• Scaling Clean Energy Investment: Unlocking opportunities to boost investments in developing economies to accelerate their transitions.
• Addressing Non-CO₂ Emissions: Tackling methane and other non-CO₂ emissions as essential components of comprehensive climate strategies.
• Strengthening National Adaptation Plans (NAPs): Ensuring all countries have robust adaptation frameworks by 2025 to build climate resilience.

Coral at COP29: Event Highlights

Coral’s active participation at COP29 extended beyond showcasing our platform. We were privileged to contribute to and learn from several impactful events and discussions, reinforcing our commitment to driving meaningful climate action. Here are some of the key moments from our time at COP29.

Wednesday, 13th November:

• Ocean Climate Fund Launch
  At this Blue Zone event, discussions focused on funding mechanisms for ocean conservation projects, an area of growing relevance for blue carbon initiatives that Coral supports.
• Semafor x Google Nights on Net-Zero
  Held at Goals House in Baku, this evening brought together influential voices to discuss net-zero strategies, aligning well with Coral’s emphasis on actionable climate solutions.

Thursday, 14th November:

• Hedera Guardian Event: Regenerative Finance Forum
  Coral joined industry leaders to explore how blockchain technology supports transparent and credible climate action. Key sessions included discussions on:some text
  • Value Chain Accounting and the Corporate Sustainability Reporting Directive (CSRD).
  • Quantitative ESG Reporting Outcomes with insights from GIST Impact and Carbon Accountable.
• Women Leading Energy Transition Panel in US House at Blue Zone

Coral’s Chief Strategy & Partnership Officer, Eftal Efeçınar, joined a panel moderated by Michelle Li (Women and Climate), alongside Habiba Ali (Sosai Renewable Energies) and Marlistya Citraningrum (IESR). Eftal shared her journey, emphasizing the importance of gender inclusivity in the energy transition and climate action.

Friday, 15th November:

• Panel: Enablers and Pain Points of Carbon Markets
  Eftal represented Coral in a discussion with industry leaders from J.P. Morgan Onyx, Evercity ClimeFi, and the Government of Mongolia. The panel focused on:some text
  • The role of regulation in ensuring market integrity.
  • Technology’s potential to scale transparency in carbon markets.
  • Challenges in aligning global frameworks and investor expectations.

Saturday, 16th November:

• COP29 Global Green Innovation Challenge
  Coral was honored to be a finalist in this prestigious competition organized by SABAH.HUB in collaboration with the UN COP29 Organizing Committee, SOCAR, and ABB. Our team showcased Coral’s capabilities in scaling climate action, highlighting our innovative Environmental Management Systems (EMS).

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Coral’s Contributions to Climate Action

Throughout COP29, Coral demonstrated its ability to transform climate ambition into measurable action. Our platform empowers businesses to:

• Automate 95% of reporting tasks, freeing resources for impactful initiatives.
• Enhance understanding of sustainability metrics to inform strategic decisions.
• Embed future-proof digital tools into operations to achieve lasting improvements.

By integrating these capabilities into business practices, Coral enables organizations to align with the objectives set forth at COP29 and beyond.

Looking Ahead

COP29 reinforced the urgency of building momentum for climate solutions, from clean energy investments to gender inclusivity and innovative technologies. As we prepare for COP30, Coral remains dedicated to driving progress through data-driven strategies and collaborative action.

Together, we can turn incremental steps into transformative strides toward a sustainable future. 🌱