COP29: All You Need to Know About the 2024 UN Climate Conference

Every year, top world leaders and the biggest stakeholders in the world of environmental stewardship gather for the world’s largest climate conference in the form of the Conference of Parties or COP. This time too, from November 11-22, representatives from almost 200 countries will gather to collaborate on shaping global climate action for the immediate solutions, as well as several decades in the future.

Over the years, the COP has been instrumental in advancing global climate action by bringing countries together to agree on key frameworks. The Kyoto Protocol a product generating out of COP in 1997, was the first binding agreement to reduce emissions. The Paris Agreement at COP 2015 was a landmark deal where nearly 200 nations pledged to limit global warming to well below 2°C. COP conferences have also driven commitments on climate finance, adaptation strategies, and carbon markets. They provide a crucial platform for addressing climate change collectively, setting the agenda for reducing emissions, and promoting sustainable development across the globe.

As nations once again unite in Baku, Azerbaijan; in the backdrop of two stretched and perilous wars; let us have a look at all you need to know about the global climate conference.

COP

The Conference of the Parties (COP) is the supreme decision-making body of the United Nations Framework Convention on Climate Change (UNFCCC), established in 1992. COP serves as an annual platform where representatives from nearly 200 countries convene to negotiate and coordinate global actions against climate change.

These decisions are largely focused on policies related to climate action and cooperation among countries on how to deal with one of the biggest problems faced by humanity in a long time.

Objectives of COP

COP meetings are instrumental in steering global climate action, establishing ambitious targets, and cultivating international collaboration. COP aims to establish binding agreements and commitments that drive countries to reduce their greenhouse gas emissions. These agreements, such as the Paris Agreement, set long-term climate targets and ensure that nations are held accountable for their contributions to limiting global warming.

In tandem with setting goals, the COP also decides to monitor the progress of each member country. Through regular reporting and review mechanisms, the effectiveness of national climate actions is ideally evaluated; it is called Global Stocktake. This process allows countries to assess whether they are on track to meet their commitments and encourages the submission of updated, more ambitious targets.

COP puts in efforts to mobilize climate finance, particularly for developing countries. These funds are essential for supporting adaptation and mitigation projects, helping nations build resilience to climate impacts and transition to greener economies. At COP28, developed countries committed $100 billion towards climate finance. The new goal will start from a baseline of $100 billion per year and will take into account the needs of developing countries.?India, on the other hand, is looking to push this sum to $1 trillion at this COP.

COP also encourages collaboration across borders, industries, and sectors. By fostering partnerships between governments, NGOs, and the private sector, COP provides a platform for collective efforts to address climate challenges. This collaborative approach augments innovation and creates alliances that drive meaningful progress on global climate goals.

Structure and Processes

The COP meetings serve as a decision-making platform where representatives from member countries, non-governmental organizations (NGOs), and observers gather to address climate issues. These meetings operate on a consensus basis, ensuring that every country has an opportunity to voice its opinions and contribute to the decision-making process.

In addition to formal negotiations, the COP agenda includes various workshops, exhibitions, and side events. These activities provide stakeholders with the opportunity to exchange best practices and showcase innovative solutions to climate challenges. Such informal settings foster collaboration and knowledge sharing, enriching the overall discussions at the conference. Each COP may also prioritize specific themes, such as climate finance, adaptation strategies, technology transfer, or capacity building.

The conference encourages in-depth discussions that address the unique needs and challenges faced by different nations. This thematic emphasis ensures that the outcomes of COP meetings are not only relevant but also actionable, promoting effective strategies for combating climate change.

COP29 Baku

After the recent conflict between Azerbaijan and Armenia in 2020 and a history of human rights violations in the country, many human rights outfits have been skeptical and vocal in their contempt of hosting the UN Climate Conference in Baku. Despite all that, there have been a lot of anticipation and expectations around this edition of COP.

At COP29, discussions will focus on climate finance, with developing nations pushing for a $1 trillion annual goal post-2025. Operationalizing the Loss and Damage Fund to support vulnerable countries will be a priority. Energy transition efforts will aim to accelerate the shift from fossil fuels to renewables, while ensuring equitable transitions. Nature-based solutions, biodiversity protection, and adaptation strategies will also take center stage. Key issues include finalizing rules for global carbon markets under Article 6 of the Paris Agreement and assessing collective progress through the Global Stocktake. The private sector’s role and innovation in climate solutions will be emphasized.