BAKU, Azerbaijan – From November 11 – 22, Ocean Conservancy will attend COP29 to advocate  for transformative, high-quality climate finance to drive ambitious ocean-based climate solutions, including offshore wind. Ocean Conservancy experts will be on the ground and available for interviews throughout COP29, where they will highlight the urgent need for concessional, below-market-rate financing to ensure that developing nations can access and deploy clean ocean energy at scale.

COP29 is being called the “finance COP,” because this year’s conference is expected to focus heavily on financing reforms and  set a new collective quantified goal (NCQG) for climate finance to replace the previous $100 billion annual target, which was set in 2009.

“The world has changed dramatically in the last fifteen years, and it’s time for the global community’s investment in tackling climate change to reflect the dire reality that our planet and our ocean is facing,” said Anna-Marie Laura, Ocean Conservancy’s Senior Director of Climate Policy. “Setting a high ambition finance goal is crucial if we’re to avoid the worst impacts of climate change, and it is especially important for ensuring an equitable transition to clean energy. ”

Earlier this year, Ocean Conservancy and the Ocean Risk and Resilience Alliance released a first-of-its-kind analysis outlining how different actors, from governments to industry, can advance affordable financing for offshore wind in developing countries. Providing below-market-rate financing options, such as loans or grants (also known as “concessional” financing) for developing nations to build out offshore wind energy is critical. The report highlights that, on average, only 4% of global renewable energy finance was delivered as grants or low-cost loans between 2021 and 2022, a stark indicator of the systemic challenges facing developing countries in accessing climate finance. These structural barriers not only limit accessibility but also restrict the impact of climate finance where it’s needed most.

Ocean Conservancy is the leading NGO voice on offshore renewable energy at COP. As the UNFCCC Marrakech Partnership Ocean and Coastal Zones sector co-lead for ocean renewable energy, Ocean Conservancy advances the ocean renewable ocean breakthrough, which calls for installing at least 380 GW of offshore wind by 2030. The organization is advocating for high-quality finance that prioritizes concessionality, access, and measurable impact. Key goals include net-positive biodiversity outcomes, concessional funding commitments for developing economies, and streamlined access to climate finance.

Ocean Conservancy will also release a Guidance Tool detailing actionable pathways for governments to incorporate offshore wind into their Nationally Determined Contributions (NDCs). NDCs outline how each country will meet global temperature reduction goals and detail their emission reduction plans, including the finance required to meet these commitments. 

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PAST RELEVANT PRESS RELEASES

• NEWS: Ocean Conservancy Releases First Of Its Kind Analysis On Affordable Financing For Offshore Wind In Developing Countries
• STATEMENT: Ahead of COP29, Ocean Conservancy Reacts to 2024 UN Emissions Gap Report
• NEWS: Ocean Breakthroughs Provide Five Pathways to Accelerate Ocean-Based Climate Action
• NEWS: Ocean Conservancy Named Marine Renewables Lead for UNFCCC Marrakech Partnership

SCHEDULE OF EVENTS

Note: all times are local.

ABOUT THE EXPERTS

Anna-Marie Laura

Anna-Marie is the Senior Director of Climate Policy at Ocean Conservancy. In this role, she manages the organization’s domestic and international ocean climate priorities, from advancing responsible offshore wind to working to have the ocean included in Nationally Determined Contributions. Prior to joining Ocean Conservancy, Anna-Marie was the Director of Policy and Strategic Partnerships at Rare, an international conservation and development non-profit and an Ocean and Coastal Policy Advisor for U.S. Senator Sheldon Whitehouse, where she worked closely with many stakeholders to advance U.S. domestic ocean policy priorities. She was a Knauss Sea Grant Fellow in 2010, has a Coastal Environmental Management degree from Duke University and received a BSc in Marine Science from the University of South Carolina. Anna-Marie is based in Washington, D.C.

Shamini Selvaratnam 

Shamini Selvaratnam is Ocean Conservancy’s Associate Director of International Climate and Clean Energy. She is an expert at building organizational capital in multi-stakeholder environments. Her work at Ocean Conservancy focuses on advancing ocean-based clean energy and climate solutions by connecting with high-level officials, stakeholders and private sector partners to collaborate on solutions to accelerate the clean energy and low-carbon transition. She is an experienced strategist with a global outlook and expertise in energy and climate policy, multilateral engagement, strategic partnerships and international development. 

Shamini has significant experience working with governments, multilateral institutions, United Nations agencies, NGOs, and the private sector. Prior to her time at Ocean Conservancy, Shamini worked at the World Bank, and UNDP. Shamini holds a Masters of Science in climate change and Development from SOAS, University of London and a Bachelor’s degree in sociology and communications from York University. In her spare time, she curates projects at the intersection of art, food and civic engagement. She is based in Washington, DC.

ABOUT OCEAN CONSERVANCY Ocean Conservancy is working to protect the ocean from today’s greatest global challenges. Together with our partners, we create evidence-based solutions for a healthy ocean and the wildlife and communities that depend on it. For more information, visit oceanconservancy.org, or follow us on Facebook, X (formerly Twitter) or Instagram.