New York Climate Week 2024
Climate solutions for a green transition
Events United States Climate action Foros
New York City hosted the 16th edition of Climate Week (22–29 September) under the theme, It's Time. As in previous editions, the event served as a platform for connection and dissemination, focusing on the fulfilment of climate goals and the need to increase the commitments made by companies, governments and organisations.
Take-aways from Climate Week NYC 2024
Climate Week NYC 2024 closed with a series of conclusions focusing on the importance of accelerating progress on climate action and with a clear call to turn promises into tangible action. These were some of the ideas drawn from this global event:
Climate urgency
While there has been greater alignment between governments, private enterprise and civil society, the global response remains insufficient and must be significantly accelerated. The effective implementation of climate commitments was identified as the most urgent challenge.
Climate finance
The need to mobilise large-scale climate finance was emphasised. Investment in clean energy technology must increase to $450B by 2030 to meet net-zero targets by 2050. However, the limits of relying solely on private capital for these investments were discussed. Mixed public–private financing models were proposed to give special support to vulnerable economies.
Technology as an opportunity
The event also discussed the potential of emerging tech such as green hydrogen, advanced storage and applied AI to achieve a sustainable energy and economic model. The need that digitalisation not exacerbate inequalities was also highlighted.
Carbon markets
The importance of strengthening the financing and development of voluntary carbon markets (VCMs) was addressed. The goal is for these markets to be complemented by real emissions reductions and for their transparency and integrity to be strengthened.
Cross-cutting social justice
Some of the key themes from Climate Week NYC 2024 were the protection of ecosystems, halting deforestation and promoting agroecology as key elements in preserving sustainable development. Emphasis was also placed on the fact that sustainable transformation must be inclusive and benefit vulnerable, indigenous and rural communities.
Commitments made during Climate Week NYC 2024
Open letter from C40 mayors
Mayors from cities such as Barcelona, Boston and Paris sent a letter to national governments demanding an end to fossil fuel subsidies and for those funds to be earmarked for renewable energy.
Partnerships for urban health in the face of heat waves
C40 and the Rockefeller Foundation announced a new fund for pilot programmes to protect urban populations from heat stress, reinforcing the integration of climate and public health actions.
Notable projects in natural solutions
A wide variety of climate platforms and groups launched specific initiatives. One example is the project focused on financing reforestation in ecosystems such as the Cerrado and the Amazon, with global commitments that could mobilise up to $500M and catalyse an additional $2.5B in commercial capital by 2030.
Iberdrola cares for the environment: a benchmark in electricity grids and clean energy
At Iberdrola, we have invested €120 billion in renewable energies, electricity grids and storage over the last two decades. This pioneering commitment to clean energy has placed us in a leading position in terms of climate action, with CO2 emissions that are already six times lower than those of its European competitors.
But the Group's climate commitment does not end there: at Iberdrola, we have committed to investing a further €150 billion by 2030 to continue spearheading the energy model change facing the global economy. Our goal is to achieve carbon neutrality in Europe by 2030, 20 years ahead of the deadline set by the Old Continent, and to be a carbon-neutral company globally by 2040.
By supporting initiatives such as New York Climate Week, Iberdrola reaffirms its commitment to caring for the environment, promoting the deployment of clean energy and essential electricity grids, and driving the electrification of energy uses to promote a shift towards decarbonisation. This goal will only be possible by joining forces with all stakeholders across all regions and sectors to multiply the effectiveness of individual commitments and find new solutions.