Friday 22 November, Baku, Azerbaijan: As COP29 wraps up in Azerbaijan, the Standards Pavilion, led by IEC, ISO, and ULSE alongside eight other standards organizations, hailed significant progress during the conference, in recognizing the crucial role of globally agreed standards in turning climate commitments into measurable actions.The Standards Pavilion, convening for the first time at COP29, acknowledges the following key milestones from COP29. The Pavilion Partners see a role for international standards to support their implementation, and are ready to partner with other organizations on these initiatives:
Establishment of International Carbon Market Standards: Delegates ratified a framework under Article 6 of the Paris Agreement, enabling global trading of UN-backed carbon credits to unlock critical climate finance.
Increased Climate Finance Commitments: Multilateral development banks, including the World Bank and European Investment Bank, pledged to raise their climate-related lending to $120 billion annually for developing nations. The Asian Development Bank also plans to allocate an additional $7.2 billion for climate projects, with support from the US and Japan.
Operationalization of the Loss and Damage Fund: Building on the fund established at COP27, COP29 has made strides in operationalizing financial assistance mechanisms for nations
disproportionately affected by climate change.
Landmark report on Net Zero Policy Matters': Assesses policy progress against the UN High level expert group recommendations across the G20 that steer the action of companies and financial institutions on net zero; and takes stock of net zero policy adoption, with a focus on corporate and financial policies.
Adoption of Enhanced Nationally Determined Contributions (NDCs): Countries including Brazil and the UK updated NDCs with ambitious new targets to limit warming to 1.5 C.
Launch of Baku Initiative for Climate Finance, Investment and Trade (BICFIT Dialogue): A new dialogue to mobilize investments for climate resilience in vulnerable regions.
Introduction of the COP29 Declaration on Green Digital Action: A commitment to leveraging digital innovations for climate mitigation and resilience.
Commitments to Phasing Out Fossil Fuels: Progress made on timelines for phasing out coal and advancing green hydrogen markets to meet Paris Agreement targets.
Focus on Adaptation Finance: Emphasis on scaling finance and encouraging all nations to adopt National Adaptation Plans (NAPs) by 2025.
Engagement of the Private Sector in Climate Finance: Partnerships fostered to leverage private capital for scalable climate adaptation and mitigation projects.
Advancements in Transparency and Reporting: Biennial Transparency Reports (BTRs) were submitted by several countries to boost accountability and drive climate action.
COP29-IEA High-Level Energy Transition Dialogues: Driving consensus on implementing COP28 energy goals and mobilizing greater investment in energy transitions, especially in developing economies.
COP29 Hydrogen Declaration: COP29 Presidency's Hydrogen Declaration of commitments to scaling up the clean energy. The Declaration sets out eight points to reach its overarching goal including demand stimulation, the development of global standards and advancing global trade.
The Pavilion partners also welcomed the G20 Rio de Janeiro Leaders' Declaration which called for urgent scaling of climate finance and investment.
Looking ahead to COP30, the Partners of the Standards Pavilion reaffirm their dedication to supporting global climate action by fostering collaboration and promoting the use of trusted, internationally recognized standards. The International Standards community welcomes the opportunity to work with the Presidency of COP30 and contribute actively to next year's climate conference. Together, these efforts aim to enhance the sustainability of products, systems, and environments, building a more resilient and sustainable future.
For more information on the Standards Pavilion and COP29 highlights, visit www.standardspavilion.org.
For more information or interviews, please contact:
ISO
IEC
UL Standards & Engagement
Vanessa Von der M hll
Head of Communications & Engagement
ISO
+41 79 842 97 34
press@iso.org / vondermuhll@iso.org
James Wood
Director of Communications
IEC
+41 22 919 03 13
media@iec.ch / jwo@iec.ch
Catie Talenti
Manager, Media Relations & Strategic Positioning
ULSE
+1 607 742 8766
Catie.Talenti@ul.org
About the Organizations
About IEC The IEC (International Electrotechnical Commission) is a global, not-for-profit membership organization that brings together close to 170 countries and coordinates the work of 30 000 experts globally. IEC International Standards and conformity assessment work underpins international trade in electrical and electronic goods. It facilitates electricity access and verifies the safety, performance and interoperability of electric and electronic devices and systems, including for example, consumer devices such as mobile phones or refrigerators, office and medical equipment, information technology, electricity generation, and much more.
Conformity assessment refers to any activity that determines whether a product, system, service and sometimes people fulfil the requirements and characteristics described in a standard or specification. Such requirements can include performance, safety, efficiency, effectiveness, reliability, durability or environmental impacts such as pollution or noise. Verification is generally done through testing and/or inspection.
Learn more: www.iec.ch
About ISO ISO (International Organization for Standardization) is an independent, non-governmental international organization with a membership of 170 national standards bodies. Through its global network, it facilitates the development o
