15 November 2024
Global Ministers Gather at COP29 Calling for an Urgent Scale-up of Carbon Management Technologies
The Carbon Management Challenge Holds Ministerial Meeting on the Global Stage
Baku, Azerbaijan, 15 November 2024 – Global Ministers and government representatives from around the world gathered at COP 29 for a Ministerial roundtable to call for international collaboration and an immediate scale-up of carbon management technologies to keep climate targets within reach. The meeting, organised by the Carbon Management Challenge (CMC) on November 15th, saw the participation of over 20 countries.
Launched in 2023, the CMC is a joint call to action to accelerate the adoption of carbon management technologies to address CO2 emissions. The CMC is the first high-level and visible global carbon management initiative aligned with the Paris Agreement.
To cap global warming to 1.5°C and avoid the catastrophic impacts of climate change, CMC participants – which now includes 22 countries, plus the European Commission – seek to collectively manage 1 gigatonne of CO2 per year by 2030 through carbon management technologies. The Ministerial roundtable, chaired by Dr. Arunabha Ghosh, CEO of India’s Council on Energy, Environment and Water, highlighted priority actions to advance key projects forward, such as tackling capacity and finance barriers, and encouraging collaboration and knowledge sharing. Participants at the roundtable identified three country-led workstreams within the CMC that will help drive collective action forward, which includes developing country finance, deployment, and strategic communications and engagement.
During the high-level meeting, the United Kingdom’s Minister for Climate, Kerry McCarthy, voiced her country’s commitment towards climate finance for developing countries stating, “The UK is committed to supporting the Global South and Developing Countries in deploying carbon management technologies and overcoming financial barriers to address the climate crisis.” The Minister also announced the UK’s effort to lead on the CMC’s strategic communications and engagement workstream. “I would like to take this opportunity to announce that the UK will step-up to co-lead this workstream with the Kingdom of Saudi Arabia,” noted Minister McCarthy.
Canada’s Ambassador for Climate Change, Catherine Stewart, echoed the value of collaboration as it relates to scaling up carbon management initiatives. “CMC participants who are investing significantly in their domestic carbon management sectors have a key role to play in improving technology costs and performance,” noted Stewart. “In addition to our work at home, we are taking collective action to tackle challenges together, such as developing effective policies, spurring private sector investment, improving technology and driving sector scale up”, continued Ambassador Stewart.
Speaking on the importance of the private sector and continued support by the United States’, the Deputy Special Envoy for Climate, Rick Duke, noted that “carbon management is government enabled but private sector led, durable across administrations.”
To reach net-zero, the scale-up of carbon management technologies is crucial alongside the wide range of proven climate solutions that are needed to support the global journey to net-zero – including nature-based solutions, the elimination of net deforestation, and the deployment of renewables and other forms of clean energy production. With participation to the CMC open to all countries, the CMC Secretariat seeks to encourage more countries to join the call to action.
Contact(s):
Media contact: secretariat@carbonmanagementchallenge.org
About the CMC: The Carbon Management Challenge (CMC) seeks to drive carbon management projects and infrastructure development to keep 1.5 °C within reach. Launched in 2023, the CMC is comprised of 23 participants worldwide with an ongoing effort to expand the number of country participants. Read here for more.
