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11/25/2024 | News release | Archived content

COP29: What Was Achieved After Days of Fraught Negotiations

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COP29: What Was Achieved After Days of Fraught Negotiations

November 25, 2024

A Summit Shaped by High Stakes and High Tensions

COP29 in Baku, Azerbaijan, unfolded as a complex web of high-stakes diplomacy as nations grappled with the increasingly urgent challenges of climate change. Against a backdrop of heightened expectations and stark global divides, the negotiations extended well beyond the scheduled deadline, ending 35 hours late in the early hours of Sunday morning. The outcomes, though significant in some areas, left many disappointed and questioning the efficacy of the process.

The Climate Finance Divide

At the heart of the summit was the effort to finalize a new global climate finance goal, replacing the long-standing $100 billion per year target established in 2009. After days of intense and often acrimonious discussions, negotiators decided to channel at least $300 billion annually into developing countries by 2035. This agreement marks progress, but it fell far short of the $1.3 trillion annually demanded by many Global South nations, who argue that their climate adaptation and mitigation needs far exceed what is currently pledged.

"This is a step forward, but it is woefully insufficient," remarked one negotiator from the Least Developed Countries (LDC) bloc, expressing frustration at the widening gap between the scale of the crisis and the commitments of wealthier nations.

The decision to include funding from a "wide variety of sources," including private investment, also drew criticism, with developing nations arguing that this approach dilutes the responsibility of historical emitters.

Article 6 Finally Crosses the Finish Line

Another key focus was the push to operationalize all elements of the Paris Agreement. COP29 succeeded in finalizing Article 6, the framework for international carbon markets. This milestone came nearly a decade after the Paris Agreement was signed, unlocking new potential for global cooperation on emissions reductions. Yet, critics warned that weak regulatory safeguards could allow for greenwashing, undermining the system's credibility. Despite the accomplishment, many negotiators acknowledged that this was merely a technical step, with much work needed to ensure its effectiveness.

A Missed Opportunity on Fossil Fuels

One of the most contentious issues was the follow-up to COP28's landmark pledge to phase out fossil fuels. The issue proved too divisive in Baku, with major oil and gas producers, including Saudi Arabia and Russia, resisting more explicit commitments. Negotiators struggled to incorporate the pledge into this year's text, and in the end, the decision was deferred to COP30 in Brazil.

"It's a bitter pill to swallow," said one delegate. "We thought we had momentum coming out of Dubai, but it feels like we're stuck in neutral."

The Negotiation Process: Exhaustion and Controversy

The negotiations themselves were fraught, characterized by late-night sessions, heated debates, and moments of open frustration. Developing nations staged a temporary walkout over feelings of exclusion, while accusations of malpractice against the Azerbaijani presidency further marred proceedings. Negotiators from India and Nigeria described the process as rushed and lacking transparency, with one Indian delegate calling the adoption of the finance text a "joke." Many argued that the presidency's decision to forge ahead with key decisions despite vocal objections set a troubling precedent.

A Divisive Presidency Under Scrutiny

Throughout the summit, the role of Azerbaijan's presidency came under intense scrutiny. Hosting the event in a country where two-thirds of government revenue comes from fossil fuels raised questions about conflicts of interest. Allegations of backroom deals to facilitate oil and gas agreements only deepened the sense of mistrust. Some described the presidency's handling of negotiations as "chaotic," with last-minute agenda changes and tight timelines adding to the pressure.

Small Steps Amid Big Challenges

Despite the setbacks and controversies, COP29 delivered notable achievements beyond the finance and carbon market agreements. It advanced discussions on adaptation, loss and damage, and the just transition work program, albeit without breakthroughs. The summit also provided a platform for new international partnerships and pledges, though the impact remains to be seen.

Looking Ahead to COP30

As the dust settles on COP29, attention now turns to COP30 in Brazil, where unresolved issues, particularly on fossil fuels, will dominate the agenda. The outcomes in Baku, while incomplete, underscore the urgency of addressing the structural barriers to greater ambition.

"It's frustrating, yes, but it's also a reminder that we're trying to solve one of the most complex problems humanity has ever faced," said a veteran observer. "Progress will always feel too slow, but each step counts."

COP29 leaves a mixed legacy-a conference marked by incremental progress, significant shortcomings, and the enduring challenge of uniting a fractured world to confront a common threat. Whether it ultimately succeeded or failed will depend on how its outcomes shape the road ahead.

POSTED BY: Christopher Nial