COP29

Force for Good participated in a number of key events including:

UNFCCC, Opening Session 11 November 2024
High-level session on Accelerating Transformative Climate and Sustainability Innovations | COP 29, Baku, Azerbaijan

UN Climate Change Global Innovation Hub Pavilion in the Blue Zone, COP29

Moderator: Kirsten Dunlop, CEO, Climate KIC

Speakers:
  • Ms. Noura Hamladji, Deputy Executive Secretary, United Nations Framework Convention on Climate Change (UNFCCC)

  • Mr. Andrew Steer, President & CEO, Bezos Earth Fund

  • Prof. Dr. Bernhard Lorentz, Managing Partner, Deloitte

  • Ms. Vivienne Yeda, Director General, East African Development Bank

  • Professor Dr. Johan Rockström, Director of the Potsdam Institute for Climate Impact Research

  • Mr. Ketan Patel, Chair of the Force for Good; CEO and Founder, Greater Pacific Capital

UNFCCC, Session 13 November 2024
Sustainability Performance and Metrics | COP 29, Baku, Azerbaijan

UN Climate Change Global Innovation Hub Pavilion in the Blue Zone, COP29

Moderator: Phoebe Koundouri, Professor, Athens University of Economics and Business; Chair, SDSN Global Climate Hub; AE4RIA.

Speakers:
  • Sergio Fernandez de Cordova, Executive Chairman, PVBLIC Foundation

  • Arvea Marieni, Technical Director, Regenerative Society Foundation and Strategy and Innovation Advisor and Manager specializing in EU-China environmental cooperation

  • Markus Müller, Managing Director, Chief Investment Officer of ESG & Global Head of Chief Investment Office, Deutsche Bank

  • Ketan Patel, Co-founder and CEO, Greater Pacific Capital

  • Chantal Line Carpentier, Head, Trade, Environment, Climate Change and Sustainable Development

COP 29, Baku, Azerbaijan
High Level Thumbnail Summary of Developments
Headlines
  • Triple finance to developing countries, from the previous goal of USD 100 billion annually, to US$300 billion annually by 2035.
  • The International Energy Agency expects global clean energy investment to exceed US$2 trillion for the first time in 2024.
  • COP29 also reached agreement on carbon markets – which several previous COPs had not been able to achieve.
  • Important agreements were also reached on transparent climate reporting and adaptation as summarized below.
A brief summary of other key achievements at COP29 follows below.
Article 6 of the Paris Agreement

A notable achievement during the past two weeks was the progress made on carbon markets.


Transparency

Transparent climate reporting made big strides forward in Baku, building a stronger evidence base to strengthen climate policies over time, and helping to identify financing needs and opportunities.


Adaptation

COP29 was an important moment for adaptation, with the delivery of several key outcomes. The COP decision on matters relating to the least developed countries (LDCs) contains a provision for the establishment of a support programme for the implementation of National Adaptation Plans (NAPs) for the LDCs.


Gender and climate change

Countries agreed a decision on gender and climate change, extending the enhanced Lima Work Programme on Gender and Climate Change for another 10 years, reaffirming the importance of gender equality and advancing gender mainstreaming throughout the convention.


Civil society participation, children and youth

World leaders at COP29 were joined by civil society, subnationals, business, Indigenous Peoples, youth, philanthropy, and international organizations. More than 55,000 people attended COP29 to share ideas, solutions, and build partnerships and coalitions.


Source: UNFCCC (summarised)


Interesting Observations on COP
A massive deal, but bitter divisions remain

There were complaints it simply was not enough and that it was a mixture of grants and loans. And countries were deeply annoyed by the way the wealthy waited until the last minute to reveal their hand. “It's a paltry sum," India's delegate Chandni Raina told other delegates, after the deal had been gavelled through. "This document is little more than an optical illusion. This, in our opinion, will not address the enormity of the challenge we all face."


COP itself is on the ropes

The country’s president, Ilham Aliyev, did not help matters by describing oil and gas as a "gift from God". His blunt attacks accusing "Western fake news media", charities and politicians of "spreading disinformation"…

Half-way through the meeting, several senior climate leaders wrote a public letter saying COP was not fit for purpose and calling for reform.


The quiet ascent of China

With the role of the US in future climate talks in doubt because of Trump, attention shifted to who might become the real climate leader in the expected absence of the US over the next four years. The natural successor is China. “China is becoming more transparent about its financial support to global south countries,” said Li Shuo, from the Asia Society Policy Institute. “This should propel the country to play a larger role in the future."


'Trump-proofing' the climate

Although he was not there, Trump’s presence was felt across COP. One common element among the negotiators in Baku was the need to ensure that a second Trump administration would not upend years of careful climate negotiations … Prof Michael Jacobs, visiting senior fellow at the think tank ODI Global. "But this agreement was about trying to limit the damage as much as possible.”


Campaigners become more vocal

One very noticeable trend at COP29 was the sometimes more aggressive stance taken by many environmental NGOs and campaigners. Many developing countries rely on these NGOs for support in dealing with complex events like COP.

Source: BBC (summarised)