What lessons can the Middle East and North Africa (MENA) and regional businesses draw from COP29’s outcomes to accelerate its sustainability journey?

Hosted in Baku, Azerbaijan, COP29 marked a turning point with commitments to scale climate finance, operationalise carbon markets, and enhance adaptation frameworks. These global developments have significant implications for MENA, particularly as the region strives to balance economic growth with ambitious sustainability goals.

Key outcomes include a pledge to triple climate finance to developing nations, reaching $300 billion annually by 2035, and advancements in Article 6 carbon market mechanisms, opening opportunities for carbon trading and crediting in developing countries. Additionally, the Baku Adaptation Roadmap emphasised the importance of transformational strategies to bolster climate resilience.

For SMEs that form the backbone of MENA’s economy, these milestones present opportunities to access new markets, funding, and technologies that can align their operations with global sustainability goals. However, challenges remain, from navigating complex regulatory landscapes to building capacity for adaptation and decarbonisation.

In episode 21 of Future Energy Insights, Moderator Jeffrey Beyer, Founder and Managing Director of Zest Associates, is joined by Eftal Efeçınar, Chief Strategy and Partnership Officer at Coral and David Auriau, Chief Executive Officer at Positive Zero. Together, they delve into how the MENA region can build upon COP29 outcomes to create a sustainable and resilient future.

Powered by World Future Energy Summit, the Future Energy Insights show seeks to address the biggest challenges shaping the future of energy today, both in the Middle East and around the world. Find us on social media at @WFES