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As global leaders convened in Baku, Azerbaijan, for COP29 in November 2024, the urgency of tackling the climate crisis was clear. Heatwaves, air pollution, and strained health systems underscored the need for adaptation and resilience. The summit spotlighted the intersection of climate and health, with climate financing at the forefront. Yet, a pressing question emerged: How can we close financing gaps to build systems that safeguard both people and the planet?
Climate Financing Goal
Dubbed the “Finance COP,” COP29 introduced significant financial commitments, including a new goal of at least USD 300 billion annually by 2035, replacing the USD 100 billion target for 2020-2025[1]. This figure combines public funds and private investments catalysed by public financing. However, developing nations have called for over USD 1 trillion annually to address climate challenges effectively. While progress, the shortfall highlights the urgent need for greater action to help vulnerable countries protect their populations from escalating climate impacts.
Climate x Health at COP29
While COP29 delivered limited explicit outcomes for health, the issue remained a key focus. According to the Intergovernmental Panel on Climate Change (IPCC), 3.3 billion people face increased health risks from climate vulnerabilities, with low- and middle-income countries disproportionately affected. Climate change threatens nutrition security, worsens diseases like malaria and dengue, and contributes to mental health challenges.
In response, COP29 launched the Baku Initiative on Human Development for Climate Resilience during the inaugural Human Development Day on November 18. The initiative emphasises investments in education, skills, health, and well-being—particularly for children and youth—while promoting environmental literacy. A central feature is the Baku COP Presidencies Continuity Coalition for Climate and Health, established with the World Health Organization (WHO) to integrate health into climate action through funding, collaboration, and accountability. Future COP presidencies will be invited to join the coalition to prioritise health in climate agendas.
However, the coalition’s approach lacks engagement with grassroots organisations, local governments, and civil society—key players for community-driven solutions. It also lacks clear frameworks for integrating sectors like agriculture, water, and urban planning. Addressing these gaps requires multi-sectoral strategies that link global commitments with local actions, elevate community voices, and foster collaboration to deliver meaningful outcomes for vulnerable populations.
Lighthouse Initiative
The urgency for resilient healthcare systems to withstand climate shocks has never been greater. While COP29 advanced discussions on the climate-health nexus and highlighted financing gaps, the escalating crisis affects everyone.
In response, the AVPN is spearheading the Climate x Health: Lighthouse for Asia initiative, which seeks to create synergy among health, social security, climate adaptation, and economic prosperity. This initiative encourages collaboration among social investors to accelerate impactful solutions. Central to this effort is the Climate & Health Opportunity Primer: An Investment Opportunity for Social Investors, which mobilises financial and non-financial resources, providing funders with a shared framework and actionable insights to drive transformative change.
Our commitment goes beyond strategy—it’s rooted in action. Together with Bayer Foundation as our anchor funder and other dedicated partners, we launched the Lighthouse Fund, a USD 5 million pooled fund to incubate, validate, and co-invest in innovations and scalable solutions. By combining capacity-building with catalytic funding, the fund focuses on areas such as climate-health intelligence systems, vector control, climate-resilient infrastructure, and health system supply chains for mitigating air pollution.
Call to Action
COP29 served as a platform for exchanging best practices, setting priorities, and fostering partnerships among governments, international organisations, financial institutions, and philanthropies. However, these commitments must lead to concrete action. Addressing today’s challenges demands decisive collaboration to drive transformative solutions. By combining resources, expertise, and determination, we can scale adaptation efforts to protect lives, strengthen health systems, and build resilience across Asia. Together, we can ensure health remains central to climate action, paving the way for a sustainable and equitable future.
[1] World Resources Institute. “COP29 Outcomes: Unpacking the NCQG and More.” World Resources Institute, 2024. https://www.wri.org/insights/cop29-outcomes-next-steps.
