This year’s hottest climate bash isn’t COP

illuminem summarizes for you the essential news of the day. Read the full piece on Wall Street Journal or enjoy below:

🗞️ Driving the news: Climate Week NYC is expected to outshine this year’s COP29 in Baku, Azerbaijan, with over 100,000 attendees and 900 events, while COP29 attendance may shrink by half compared to 2023
• Executives are favoring New York due to logistical challenges and networking opportunities, leading many to skip the U.N. event

🔭 The context: COP has historically been the top global climate event, but its remote location this year and ongoing concerns about Azerbaijan’s fossil-fuel dependency and human rights record have dampened enthusiasm
• Meanwhile, Climate Week NYC is drawing record interest from senior leaders and companies

🌍 Why it matters for the planet: New York’s event fosters discussions on critical climate issues like carbon markets and financing, but concerns grow that skipping COP29 could slow global negotiations on methane emissions and financing for climate action

⏭️ What's next: COP29's reduced participation may affect the outcomes of critical negotiations on climate financing and methane reduction, but Climate Week NYC is likely to shape much of the corporate agenda in the immediate future

💬 One quote: “You come to renew your reserve of optimism, recharge your batteries, dodge despair and fight on for another year,” said Durwood Zaelke, president of the Institute for Governance and Sustainable Development

📈 One stat: Attendance at Climate Week NYC surged by 200%, with 1,350 applications to speak, up from 650 in 2023

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