COP29 | Bakú (Azerbaiyán) | 11 to 22 November, 2024.
Environmental Markets Fairness Foundation (EMFF) had the honour of participating in COP29 as official guests designated by UN Climate Change. This recognition allowed us to actively engage one of the most important events in the global climate agenda, leading and contributing to the key initiatives that marked our commitment to sustainability and environmental justice.
Faith and sustainability: a bridge to change
One of the most meaningful moments at COP29 was our collaboration with the UN Climate Change Global Innovation Hub for the event “Faith and Sustainability: A spiritual Approach towards Environmental Responsibility” held on November 15th in the Blue Zone, Buta Special Events Room. This session explored the role of spirituality as a driver of environmental and social resilience.
The event was the result of months of preparation with Emilce Cuda, Secretary of the Pontifical Commission for Latin America (Holy See); Massamba Thioye, Project Executive of the Global Innovation Hub, and Patricio Lombardi, EMFF Executive Director. Discussions focused on how spirituality can be an engine to inspire environmental and social resilience practices and promote interfaith dialogue as a tool to address the climate crisis.
With 2025 marking the 10th anniversary of Laudato Si’, Pope Francis’ environmental encyclical, we believe that faith and spirituality become catalysts for a shared commitment to sustainability and global well-being.
Importance of valuing life in all its forms and caring for our Common Home, the Earth, fosters a shared commitment to a better future.
Latin America’s strategic role in environmental markets
On November 16th, EMFF hosted the side event “The Key Role of Environmental Markets in Latin America” at the IETA Business Hub. This space, dedicated to major CO2 emitters seeking Nature-based Solutions (NbS) to offset their emissions, was supported by Edenor SA.
This session highlighted Latin America’s unique potential in addressing global environmental challenges, given that the region holds:
- Over 50% of the world’s biodiversity.
- The highest concentration of critical minerals and tropical forests.
- A leading position as a global food producer.
These factors make Latin America a pivotal player in environmental markets. Latin America has the capacity to enhance environmental integrity and social justice practices and promote an inclusive transition by prioritising the voices of local communities.
The panel showcased EMFF’s pioneering experience in securing non-reimbursable funding for conserving the Atlantic Forest in Misiones, Argentina. This model inspired further discussions about the Gran Chaco Americano, the world’s most significant dry subtropical forest biome, which also contains the Guaraní Aquifer, the largest underground water reserve globally.
Through a video presentation, Liliana Paniagua highlighted Gran Chaco’s vast expanse—over one million square kilometres shared by Bolivia, Argentina, Paraguay, and Brazil—and its potential to integrate productive systems with conservation sectors. She emphasised that this biome is an example of how to link productive systems with the conservation sector pointing out that “You cannot conserve without producing, nor produce without conserving,” and called for collective action to preserve and enhance the value of this vital region. Redes Chaco, the organisation she represents, appealed to work together to preserve and enhance the value of this territory, promoting environmentally conscious negotiations.
Key speakers and insights
The panel included distinguished participants who shared valuable perspectives:
Emilce Cuda, Secretary of the Pontifical Commission for Latin America (Holy See), highlighted the principles of Laudato Si’, advocating for bridges between productive sectors and nature’s guardians, with an emphasis on an integral ecology that supports the most vulnerable.
Silvana Coria (Edenor, Argentina) highlighted the crucial role of the private sector in the energy transition.
Rocío Sanz Cortes (LEAF Coalition) stressed the importance of maintaining transparency and adhering to environmental and social safeguards in all climate projects.
Javier Manzanares Allen, (ALLEN MANZA) delved into opportunities for international financing and the role of public-private partnerships in driving transformative change.
Liliana Paniagua (Redes Chaco) highlighted the importance of the Gran Chaco Americano as the largest subtropical dry forest biome on the planet, as well as being home to the Guaraní Aquifer, one of the largest freshwater reserves in the world. With an integrative approach, he emphasised that sustainable production and conservation must go hand in hand.
Our vision and commitment
These events reflected EMFF’s unwavering dedication to promoting fair and sustainable solutions while respecting local communities’ needs. At COP29, we reaffirmed our mission to act as catalysts for positive change, fostering collaboration across sectors and promoting greater environmental responsibility.
At EMFF we are working hard to build bridges between key actors in the Global South. We are convinced that these partnerships will allow us to move towards a strong and respectful cooperation, based on mutual recognition and shared commitment to sustainability.
From Baku, we take with us lessons learned, collaborations and a renewed motivation to continue working for conservation and sustainable development, understanding that Latin America has a strategic role in building a more equitable and resilient future, and possesses the necessary resources to successfully address the ecological and social crisis.
Follow us on our social networks for more content