Climate action

KfW at COP29 in Baku

The 29th Conference of the Parties (COP) of the United Nations Framework Convention on Climate Change (UNFCCC) – COP29 World Climate Conference for short – will take place this year from 11 to 22 November 2024 in Baku, the capital of Azerbaijan.

Representatives of governments, international organisations, academics, NGOs and other stakeholders will discuss and agree upon measures to combat climate change. The aim of COP29 is to make progress in implementing the Paris Agreement, which was adopted at COP21 in Paris in 2015. A further aim of COP29 is to agree on additional measures for reducing greenhouse gas emissions and adapting to the effects of climate change.

KfW plays an important role in financing projects for sustainable development and climate action. Through the further development and redesign of promotional products, processes and partnerships, KfW is breaking new ground – and helping to shape future trends. For example, KfW offers domestic promotional programmes for climate-friendly residential buildings, climate protection measures in companies and venture capital activities. Via its business sector KfW Development Bank and its subsidiaries DEG and KfW IPEX-Bank, it is supporting climate and environmental action around the world. In Germany, it promotes sustainable housing construction and supports SMEs as well as innovation and technology companies in areas such as the circular economy and electromobility. Abroad, it strengthens partner countries as well as the German and European export industry, in particular in the areas of renewable energies, energy efficiency, biodiversity, environmentally friendly mobility and climate change adaptation.

This is just one of the reasons why KfW as a bank committed to responsibility is participating in this year’s Climate COP with a delegation from the Executive Board, its international business sectors, and various other business units. In Baku, the delegates will take part in negotiations, panel discussions, specialist sessions, presentations and other events. In doing so, they will play a key role in strengthening global efforts to combat climate change.

News

"At the World Climate Summit, PIK and KfW launch a financing concept for carbon removals", KfW press release of 11 November 2024

KfW Research: 29th UN Global Climate Summit (COP29)

How KfW works to promote green hydrogen all over the world

Wasserstofftanks mit eine Photovoltaikanlage im Vordergrund

KfW promotes the use of green hydrogen worldwide, focussing on technologies known as ‘Power to X’, which use electricity generated from wind or solar power.