02 Jul GTMS update on COP29 climate finance agreement
Sustainability update
COP29 outcome triples climate finance for developing nations
The global community agreed a new finance goal that supports people and economies facing climate risk and accelerates the transition to clean energy. GTMS aligns this direction with our responsible mining program in Oman.
USD 300 billion per year by 2035
New goal for support to developing countries
USD 1.3 trillion per year by 2035
Combined public and private climate investment pathway
Article 6
Agreement on carbon markets to speed cost effective action
Transparency
Progress on reporting with the first wave of biennial transparency reports
What this means for GTMS
- Clearer access to climate aligned finance that supports responsible copper production and environmental stewardship in Oman
- Growing demand for low carbon materials as clean energy projects expand across the region
- Stronger expectations on transparency and climate related reporting across supply chains
Highlights from Baku
- New Collective Quantified Goal sets a higher target for support to developing countries and encourages scaled private investment
- Advances on carbon markets support country to country trading and a UN crediting mechanism that includes safeguards for communities and nature
- Adaptation work introduces support for national adaptation plans with a focus on least developed and climate vulnerable countries
- Parties extended the gender and climate program and elevated the leadership of Indigenous Peoples and local communities
GTMS commitment
Green Tech Mining and Services pursues safe and efficient copper production with a focus on environmental care, water quality, and community benefit. Our approach is to improve resource recovery while reducing impact and supporting the green transition in Oman.
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