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Masdar and partners to develop 1GW wind farm with battery storage in Kazakhstan

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Masdar has signed an investment agreement with W Solar, Qazaq Green Power, and the Kazakhstan Investment Development Fund to develop a 1 GW wind farm in Kazakhstan’s Jambyl region, marking Masdar’s first project in the country. The project includes a 600 MWh battery storage system to enhance grid stability. Construction of the wind facility is set to begin in Q1 2026, supporting Kazakhstan’s energy transition goals to reach 15% renewable capacity by 2030 and 50%…

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Six nations join pledge to triple nuclear power by 2050 at COP29

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During the World Climate Action Summit at COP29, six countries—El Salvador, Kazakhstan, Kenya, Kosovo, Nigeria, and Türkiye—endorsed the global commitment to triple nuclear energy capacity by 2050, bringing the total to 31 signatory nations.  Initiated by France with 20 countries at COP28, the pledge underscores nuclear energy’s critical role in limiting global warming to 1.5°C per the Paris Agreement. World Nuclear Association (WNA) Director-General Sama Bilbao y León celebrated the new signatories, emphasizing nuclear energy’s…

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MDBs pledge $120 billion for low-income nations at COP29

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At COP29 in Baku, Azerbaijan, leading multilateral development banks (MDBs) announced plans to collectively mobilize $120 billion annually in climate financing for low- and middle-income countries by 2030, with $42 billion dedicated to adaptation.  The private sector is expected to contribute an additional $65 billion each year. High-income countries are set to receive $50 billion annually in climate finance, including $7 billion for adaptation.  The MDBs exceeded their 2025 climate finance projections by a 25%…

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ACCA report warns of inadequate climate preparedness among businesses

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The ACCA’s latest report, Weathering the Storm: Building Resilience Against Climate Disruptions, reveals that most businesses and organizations are ill-prepared for climate-related disasters, with outdated continuity plans that fail to account for the rising frequency of such events.  The report shows only 20% of surveyed organizations have identified climate risks across their operations, and just 17% regularly rehearse responses to major disruptions, while 25% lack any resilience-building mechanisms. ACCA Head of Sustainability, Emmeline Skelton, emphasizes…

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COP29: IEEFA pushes banks to reorient lending for renewables, $400 billion annual funding shortfall

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The Institute for Energy Economics and Financial Analysis (IEEFA) has urged global action at the 29th Conference of Parties (COP29), emphasizing a $400 billion annual investment gap to meet renewable energy targets by 2030. Labelling COP29 as the “climate finance COP,” IEEFA’s new briefing highlights the need for policies incentivizing banks to redirect lending toward renewables. IEEFA’s report notes a significant rise in global renewable energy investments, increasing by 73%-78% from $329-424 billion in 2019…

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EKI Energy registers Azerbaijan’s first voluntary carbon market solar project

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EKI Energy Services Limited (EKI) has registered Azerbaijan’s first voluntary carbon market project powered by solar energy, marking a significant step toward sustainable energy in the Caucasus and Central Asia. This project, launched ahead of COP29, aims to reduce greenhouse gas emissions by harnessing renewable energy. Located across the Baku and Absheron districts, the solar project has an installed capacity of 230 MW (AC). By supplying clean energy to Azerbaijan’s national grid without fossil fuel…

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Trump as US president will deepen climate crisis: Policy experts

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Donald Trump’s potential return to the US presidency has prompted apprehension regarding America’s climate policy trajectory. During his first term, the United States withdrew from the Paris Climate Agreement, casting doubts on its commitment to global climate efforts.  Trump has also been critical of climate finance mechanisms, such as the Green Climate Fund, labelling them as unfavourable wealth redistribution schemes while endorsing expanded fossil fuel production. Following his re-election, Trump has promised to increase domestic…

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World leaders gather in Baku for pre-COP29 meeting

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Ahead of the 29th Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, global leaders gathered in Baku, Azerbaijan, for the pre-COP meeting from 10–11 October.  The session, titled Enhance Ambition and Enable Action, aimed to progress key negotiations before the main summit in November. The event is focused on limiting global warming to 1.5°C, as per the 2015 Paris Agreement. A key priority at the pre-COP meeting was setting a…