This annual report, prepared under the guidance of the co-chairs of the Sharm el‑Sheikh mitigation ambition and implementation work programme, comprises a compilation of the reports on the two global dialogues and investment-focused events held in 2024, which are the third and fourth under the work programme and focused on the topic of cities: buildings and urban systems. The report reflects in a comprehensive and balanced manner the discussions held and presents key findings and identified opportunities and barriers relevant to the topic.