For the remainder of my time in Baku, I mainly explored the country pavilions, networked with attendees, and listened to various panels to gain insights and build connections.

On November 16, I attended a session at the World Bank’s pavilion on Measuring Climate Risks for Smarter Adaptation and Mitigation Solutions, hosted by the IMF. The experts emphasized the critical role of data and highlighted ongoing efforts to make data more accessible. To better measure climate risks, they identified three key strategies:

  1. Capacity Building: Enhancing skills and resources for data analysis and interpretation.
  2. Improving Data Quantity and Quality: This includes initiatives like building the Climate Change Indicators Dashboards.
  3. Using Advanced Statistics and Methodologies: For example, the Data Gaps Initiative.

The IMF also stressed the importance of collaboration with international organizations and insights from diverse experts. However, they acknowledged significant challenges, such as limited access to data, understanding country-specific needs, and barriers like inadequate technology in regions such as Mozambique. To address these, the IMF and partner institutions are conducting research at the country level and generating tailored reports.

Later, I attended Singapore’s session titled Trust & Transparency in a World on Fire. On February 28, 2024, Singapore announced plans to implement mandatory climate-related disclosure (CRD) requirements for listed and large non-listed companies in alignment with the International Sustainability Standards Board (ISSB) standards, starting as early as 2025. This initiative aims to guide companies in setting clear sustainability goals by providing useful tools, emphasizing the importance of mobilizing capital, and establishing climate transition plans. To build capacity, experts discussed plans to assess company priorities, offer training materials, and foster collaboration among institutions to explore technological solutions for various challenges.

In the afternoon, I serendipitously stopped by the Chinese pavilion, where the speaker was discussing the Carbon Generalized System of Preferences (CGSP)—a topic closely aligned with my research interests. CGSP is a framework that uses monetary and non-monetary incentives to encourage sustainable behaviors. The professor highlighted their collaboration with the Quzhou Branch of the People’s Bank of China to establish “bank carbon accounts” for individuals. Their organization is working on implementing standards to quantify and measure carbon emissions while involving diverse stakeholders, including banks and NGOs, to enhance the project’s sustainability. After the talk, I had the opportunity to network with the professor, gaining valuable insights into CGSP.

The week at COP flew by, and I regret not having more time to explore the conference and Baku. I hope to attend another COP in the future. When I left, many critical topics—such as the New Collective Quantified Goal (NCQG) and the loss and damage fund—were still under negotiation. I hope future COPs will focus on more genuine, practical high-level negotiations rather than reiterating old discussions and diverting from urgent agendas.

While my first COP has ended, the pursuit of climate action continues.