COP 29: Be Bold on Buildings

With a central focus on climate finance, the COP29 conference in Azerbaijan faced many challenges, but it remains a crucial platform to accelerate progress and, in a time of geopolitical turbulence, forming a deal is an important outcome. 

Climate finance deal

The headline announcement from the conference was the New Collective Quantified Goal on Climate Finance (NCQG), which outlined an agreement to triple finance to developing countries to US$300 billion annually by 2035. Countries also agreed to secure efforts to work together to scale up finance, from public and private sources, to US$1.3 trillion per year by 2035.

While this deal remains insufficient to meet the needs of developing countries, it marks a step forward in recognising the scale of what’s needed, and creates a foundation on which to build. Now, the broader finance ecosystem must mobilise to deliver at the speed and scale required.

Sharm el-Sheikh programme

A notable development for the built environment community is that the United Nations Framework Convention on Climate Change (UNFCCC) negotiations have, for the first time, recognised the importance of our sector in the official text. This can be found in the Sharm el-Sheikh mitigation ambition and implementation work programme, which “notes” key findings for the built environment, including reducing operational emissions, designing building envelopes for energy efficiency and reducing embodied emissions. The findings also include electrification and switching to low-emission technologies, and acknowledge the importance of international collaboration including finance, knowledge transfer and capacity building. 

The programme recognises the need to tailor solutions to national and local circumstances, stating that there is no “one size fits all” approach – an ethos that is very much reflected in the work of WorldGBC and the network of national Green Building Councils (GBCs), as demonstrated in our presentation to the global dialogues on cities, delivered by WorldGBC Sustainable Finance Lead Julie Emmrich earlier last year. 

Ministerial commitment

At COP29, WorldGBC and our global network called on governments to #BeBoldOnBuildings in their updated national climate action plans (Nationally Determined Contributions, or NDCs), which are due
in February this year under the Paris Agreement. At the high-level ministerial round-table, which WorldGBC attended, ministers from several countries demonstrated their commitment to deliver ambitious, sector-specific NDCs that are backed by policy and investment plans. 

To support the evaluation and strengthening of national-level policy, WorldGBC unveiled its NDC Scorecard for Sustainable Buildings project in the Buildings and Cooling Pavilion in the Blue Zone. It is crucial that those responsible for the implementation of climate plans are involved in the development of this tool and, following the session, many country representatives and international organisations were enthusiastic to be involved in its development alongside the GBC network. The negotiations also reaffirmed the UAE Consensus that the next round of NDCs should have economy-wide emission reduction targets covering all greenhouse gases, sectors and categories, and align with limiting warming to 1.5°C. 

Notable progress

The Intergovernmental Council on Buildings and Climate (ICBC) was officially formalised during a high-level round-table, with ministers and high-level representatives from Azerbaijan, Brazil, Estonia, France, Germany, Italy, Kenya, Lithuania, Tanzania, Uganda, the United Arab Emirates and the United Kingdom. 

The ICBC will facilitate the implementation and review progress of the Declaration de Chaillot (the ministerial agreement between 70 countries that aims to operationalise the Paris Agreement’s goals for the building and construction sector ) by enabling international cooperation and enhancing policy action towards the goals of the Paris Accord. The ICBC’s initial leadership has France as chair, and Kenya and Brazil as vice-chairs, coordinated by the Global Alliance for Buildings and Construction.

The Breakthrough Agenda launched the “Baku” Priority International Actions across a range of sectors, including buildings, to accelerate progress on climate change. Governments from 61 supporting countries, representing 80% of global emissions, agreed on the actions to help coordinate worldwide efforts to make clean technologies and sustainable practices more accessible. 

WorldGBC is co-leading on Priority Action B1 of the Buildings Breakthrough. To drive this forward, we will be engaging with the global network of GBCs, key international organisations and countries to facilitate cross-border collaboration and consensus on the definitions and principles for near zero emission and resilient buildings, ahead of COP30.

The Multisectoral Actions Pathway (MAP) Declaration for Resilient and Healthy Cities was also launched. The Declaration seeks to enhance multisectoral cooperation to address climate challenges in cities, create coherence in urban climate efforts and catalyse urban climate finance. 

A better future

As the conference has demonstrated, the scale and complexity of the challenges that need to be addressed are too big for any one organisation or country to tackle on their own. Collaboration – cross-border and cross-sector – is essential to drive the pace and level of change required. 

WorldGBC was delighted to announce its participation in two new collaborations. We have begun a new era of our partnership with the Global Alliance for Buildings and Construction with the signing of an MoU. This partnership will see both our organisations leveraging the unique strength of our respective networks to deliver on shared priorities, including advocacy, policy development and capacity-building.
WorldGBC also became the latest organisation to join Mission 2025 – a wide coalition calling on leaders to agree on a high ambition NCQG in COP29 and publish sector-specific NDCs that are 1.5°C-aligned. This also included a coordinated call to the leaders at the G20 Summit to “move money” and “publish the plans”. 

The road to Belém

WorldGBC went to COP29 with a clear call to governments and industry to be bold on buildings. We cannot achieve 1.5°C without accelerating action on the built environment. While the overall pace remains too slow, COP29 has unlocked critical progress from governments and we’ve seen that real economy leaders are ready to seize the economic opportunity of the transition and take action. 

Developments specifically targeting the built environment, such as the ICBC and the mitigation ambition and implementation work programme, have the potential to create a renewed focus on implementing buildings policy. WorldGBC’s network stands ready to work with governments and industry to ensure this is both ambitious and equitable.

Preparations now begin for the next summit in Brazil 2025, so we can build on the progress we’ve so far achieved, and keep driving momentum behind key actions:

• Develop and deliver NDCs that are 1.5°C-aligned, sector-specific and backed up by clear plans and investment policies. 
• Activate and accelerate the outcomes of COP29 to catalyse finance at the speed and scale required to meet the needs of developing economies.
• Accelerate the just transition away from fossil fuels – tripling global renewable energy capacity and doubling the annual rate of energy efficiency improvements by 2030, and accelerating the phase-out of fossil fuels as outlined in the UAE Consensus.

WorldGBC invites you to work with us to be bold on buildings. Together we can drive local action and create the global momentum needed for all people and our planet to thrive.
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