COP29 insights
Two weeks of negotiations, seminars, and collaboration at COP29 in Baku have concluded, marking significant steps toward a sustainable future. Ragn-Sells participated actively, sharing insights on circular solutions, hosting engaging sessions, and meeting key stakeholders to push forward the transition to a circular economy.
27 Nov 2024A key outcome of COP29 was the agreement on the New Collective Quantified Goal on climate finance (NCQG). Developed countries committed to providing at least $300 billion annually until 2035 to help developing nations combat climate change and adapt to its impacts. This public funding aims to unlock private investments, potentially reaching $1.3 trillion.
While this agreement signals progress, concerns were raised about whether the funding will be sufficient to address the scale of the climate crisis.
Circular solutions for nutrients and resources
One of the key messages Ragn-Sells emphasised at COP29 was the critical need to recover and reuse nutrients such as phosphorus and nitrogen – essential components for global food production. Innovative processes are required to turn waste into resources that can sustain life on the planet without depleting finite raw materials.
Jan Svärd, CEO at the innovation company EasyMining, shared:
"Recycling nutrients like phosphorus and nitrogen is crucial for the global food system. We are developing technologies to recover these essential elements from waste streams, enabling them to be reused over and over again in a sustainable cycle."
This commitment to innovation aligns with the broader goals of Article 6 of the Paris Agreement, which establishes mechanisms to support resource efficiency and climate mitigation through market cooperation.
Panel discussion from the session Ragn-Sells held with Alfa-Laval at COP29 in Baku.
Ragn-Sells at COP29
Ragn-Sells contributed to the conference by highlighting the role of circular solutions in tackling global challenges. The company organised three sessions, now available online, focusing on turning waste into resources through innovative technology and processes.
Pär Larshans, Chief Sustainability Director at Ragn-Sells, reflected on the role of business in driving the transition:
"Leaving COP29, I am more convinced than ever of the strength of business in solving the challenges humanity faces. With innovation and collaboration, we can ensure that resources are used again and again, creating a truly circular economy."
Pär also represented the International Chamber of Commerce in a ministerial high-level roundtable on just transition, underscoring the critical need for businesses to be part of climate discussions.
"Business has the ability to innovate and the interest to take part in the transition – but only if we are invited," he noted.
Looking ahead, the outcomes of COP29 set the stage for COP30 in Brazil, where discussions are expected to focus on countries’ nationally determined contributions (NDCs) and the implementation of Article 6.
Explore our COP29 sessions
"The world needs a circular transformation, in order to succeed we need to adopt new processes in society and use innovative technology – these solutions already exist" from November 12, 2024.
Watch the recording
"From Wastewater Treatment Plants to Resource Recovery plants – raising the ambition for NDCs 3.0" from November 18, 2024.
Watch the recording
"Closing the phosphorus cycle, will reduce eutrophication and methane emissions" from November 19, 2024.
Watch the recording
Ragn-Sells also participated in Confederation of Swedish Enterprise's (Svenskt Näringsliv) session "Integrating Circular Economy Strategies into COP29's Climate Agenda" and the Inauguration of the Swedish Pavilion.
