Book a discovery call

COP29 Outcomes: Key Implications for ESG Practices 

By /

The 29th UN Climate Conference (COP29) in Baku, Azerbaijan, brought over 65,000 global stakeholders together to drive the global climate agenda forward. From setting climate finance targets to advancing ESG frameworks, several outcomes stand out for businesses seeking to enhance their sustainability strategies.

1. Advancements in Carbon Markets: Article 6: COP29 achieved major progress in operationalizing Article 6 of the Paris Agreement, which governs global carbon markets. Key developments include a clear structure for international carbon credit transactions and enhanced safeguards to protect Indigenous rights and environmental integrity. Businesses can leverage these mechanisms to engage in credible carbon trading, a critical tool for meeting net-zero commitments.

“This cross-border cooperation is expected to reduce the cost of implementing countries’ national climate plans (NDCs) by up to $250 billion per year” said the COP29 presidency. As the supervisory body develops its 2025 action plan, companies should prepare to integrate these frameworks into their decarbonization strategies.

2. New ISO ESG Implementation Principles: The launch of ISO ESG Implementation Principles at COP29 offers a global framework for embedding ESG practices within organizations. These principles aim to standardize ESG reporting by providing a universal language for measuring and communicating sustainability efforts.

By fostering consistency and comparability across industries, the implementation practices enable organizations to mitigate risks proactively while aligning with evolving stakeholder expectations. For companies navigating complex reporting frameworks, these principles represent a significant step toward transparency and accountability.

3. CDP-GRI Collaboration: CDP (Carbon Disclosure Project) and GRI (Global Reporting Initiative) are two leading organizations in the ESG reporting space. CDP focuses on environmental disclosure, particularly related to climate change, water security, and forests, while GRI provides comprehensive standards for sustainability reporting across environmental, social, and governance dimensions.

Their recent Memorandum of Understanding signals a major step toward streamlined reporting. By integrating CDP’s disclosure system with GRI Standards, this collaboration aims to reduce complexity for businesses navigating multiple reporting frameworks. The alignment will improve the quality and comparability of corporate environmental disclosures, making it easier for organizations to meet growing investor and stakeholder demands for credible, actionable sustainability data.

Looking Ahead

COP29 also saw the introduction of ambitious climate finance targets and updates to nationally determined contributions (NDCs). However, limited progress on fossil fuel transitions highlights the need for public-private collaboration. As businesses prepare for COP30 in Brazil, aligning strategies with emerging ESG standards, carbon markets, and collaborative disclosure systems will drive impact and stay competitive in a rapidly evolving sustainability landscape.

References:

UN Climate Change Conference Baku – November 2024 | UNFCCC

COP29 Agrees International Carbon Market Standards | UNFCCC

ISO – International guidance launched to support organizations in navigating ESG challenges

GRI – CDP and GRI deepen collaboration to streamline environmental disclosure

Leave a Comment

Your email address will not be published. Required fields are marked *

The YellowYellow ESG Advisory HQ is located on the traditional, unceded territory of many nations including the Anishnabeg, the Chippewa, the Haudenosaunee, and the Wendat peoples and is now home to many diverse First Nations, Inuit, and Métis peoples. Toronto is also covered by Treaty 13 with the Mississaugas of the Credit.

Copyright © 2024 YELLOWYELLOW - All Rights Reserved.

Help Links

Contact

Scroll to Top

Jeff Garcia-Seminario

AssociateSenior Associate, Social Impact
Jeff brings global experience in leading corporate social responsibility (CSR) and community engagement projects in the extractive sector.   Jeff excels in stakeholder mapping, community engagement, and conflict resolution.   Applying his private and public sector experiences, Jeff can bridge cultural and historical divides between extractive industries and their communities.  His areas of focus include food security, sustainable procurement, and good governance. Most recently, Jeff contributed to the development of an ESG strategy for a multi-national company.  
Jeff’s native language is Spanish. He enjoys morning runs in the neighboring parks. 

Kaitlyn D'Lima

Associate

Kaitlyn D’Lima holds both a Bachelor of Business Administration and a Master of Science and Sustainability Management degree from the University of Toronto.   She is also trained in greenhouse gas (GHG) accounting.

She brings extensive experience in sustainability and business transformational projects. She is known for her ability to execute projects of any size with both urgency and accuracy.   Kaitlyn has a natural talent for improving stakeholder engagement. She’s a real trailblazer when it comes to benchmarking and research.

Kaitlyn is a runner who participates in outdoor adventure races.

Arun Balu Pazhayannur

Advisor

Arun B Pazhayannur holds a degree in mechanical engineering and is a Chartered Accountant. He also has an MBA from the Ivey Business School at the University of Western Ontario. Along with his academic achievements, he has a thorough knowledge of Environmental, Social and Governance (ESG) principles, which he incorporates into his consulting work. 

Arun is well-known for his leadership abilities as well as his strong skills in data analysis, financial modeling, and operations management. He has been recognized for his ability to identify practical solutions and deliver value to clients ranging from banks to payment companies to software providers. Arun is also a past President of Toastmasters Club. 

In his free time, Arun enjoys scuba diving.In his spare time, Arun likes to scuba dive. 

Gregory Donovan

Senior Advisor

Gregory  Donovan is a Chartered Accountant. He is a Fundamentals of Sustainable Accounting (FSA) Credential Holder.  He obtained an Honours in Business Adminstrations (HBA) from the Ivey Business School (Western University) and a Master or Laws (LLM) from the London School of Economics. Gregory is the CEO of Avondale Private Capital, a sustainable finance firm focused on energy transition finance and carbon markets.  He has presented on these topics at conferences in Canada, the US and UK.  

Greg participates in the occasional triathlon and loves to go skiing and sailing with his two young children.

Margaux Loptson

Associate & US Operations Lead

Margaux Loptson holds a Bachelor of Arts (Psychology) and a Bachelor of Arts (Criminology) from Pennsylvania State University. In addition, she holds several research certifications, including Ethical Conduct for Research Involving Humans. 

She has been an essential player in AI-powered teaching and learning projects as a User Experience (UX) lead.  Margaux is known for applying her design thinking, problem-solving and analytical skills to make a positive impact. She is a native French speaker. 

Margaux is a fitness enthusiast who can be found hiking around Central Park in NYC.

Ritika Jain

Associate / Responsible Supply Chain Lead

Ritika Jain holds a Masters in Environmental Sciences, Policy and Management from Lund University (Sweden)  and a Bachelor of Technology from Indraprastha University (India). As a lifelong learner, she is pursuing a Graduate Diploma in Corporate Social Responsibility and Sustainability at the University of Toronto.

Ritika is a recycling and responsible supply chain specialist.  Through her work, she collaborates with organizations to implement circular economy focused policies to ensure compliance with regulations.  

Her proficiency in data analytics and with the Global Reporting Initiative (GRI) enable her to manage complex sustainability data. Ritika also volunteers with the UN Sustainable Development Solutions Network, engaging with youth to drive positive change.  

Ritika is a native Hindi speaker.  She is a certified hiking leader who enjoys travelling.

Jonathan Spence

Associate & Western Canada Operations Lead

Jonathan Spence holds an Honours Bachelor of Integrated Sciences (Earth and Environmental Sciences) from McMaster University and has his certification in Geographic Information Sciences from the ESRI Canada Center of Excellence at McMaster University. Jonathan worked as a research analyst in the environment and sustainability group for a TSX listed company.  

He is pursuing his Ph.D. in Earth and Atmospheric Sciences at the University of Alberta, where he is researching the development of carbon capture techniques and their applications to the mining industry.  Jonathan is focused on helping companies to minimize their carbon footprint while supporting their economic growth.   

Jonathan is an avid water polo player and coach. He plays for the local National Championship League team. 

Gurnoor Gandhi

VP Business Development & Strategic Partnerships

Gurnoor Gandhi holds an MBA from Ivey Business School (Western University) and a postgraduate diploma in Maritime Energy Management (Sweden). Gurnoor brings experience with sustainability frameworks including TCFD, GRI, and CDP and is pursuing FSA credential (SASB). 

Gurnoor has global leadership experience in the shipping industry managing assets worth millions of dollars on the high seas and has led diverse teams worked in Monaco, Singapore, and India. Most recently, he led organizational development and client partnerships at CARD, a non-profit focused on rural development and renewable energy.

Gurnoor brings a blend of technical and leadership skills. He applied his knowledge of greenhouse gas accounting and carbon capture to support clients with niche energy transition projects. He is known for putting his problem-solving, stakeholder management, and project management skills to work to help firms expedite their ESG Journey. 

Gurnoor is a certified BMW adventure motorcyclist who finds off-road rides rejuvenating for body and spirit.  He enjoys hiking with his family.

Lisa-Annabel Ellis

Founder & CEO

Lisa Annabel Ellis holds an Honours Bachelor of Science (Environmental Science) from the University of Toronto and an MBA from the Ivey Business School (Western University). She is a certified Project Manager Professional (PMP) with a Six Sigma Green Belt. Lisa is a Fundamentals of Sustainable Accounting (FSA) Level II Candidate. Applying her deep expertise in business and operational strategies, she has led award-winning transformational initiatives.

Drawing on her well-rounded science and finance expertise, she launched YellowYellow to help clients advance their sustainability practices. As an advocate of transparency and good governance, she partners with clients to understand their risks and opportunities to generate superior long-term value. Stakeholders across the value chain recognize the impact of this effort. She has been called upon to be a keynote speaker and lecturer.

Lisa is an advanced scuba diver who enjoys most water-related sports.