COP29 Dispatch - November 11, 2024
Environmental and Energy Study Institute (EESI)
Ideas. Insights. Sustainable Solutions.
Welcome! Today is the first day of COP29.
Delegates from around the world streamed into Baku Olympic Stadium, and the temporary buildings constructed around it, for the first day of the United Nations climate summit. As participants got acquainted with the space—from the vast pavilion hall to the shortest line for a coffee—the official negotiations got off to a slow start with a day-long process to approve the agendas for COP29.
During a?press conference, U.S. Senior Advisor to the President for International Climate Policy John Podesta recognized Veterans Day: “Today is a day across much of the world that we remember those who were willing to pay the ultimate price to build a more peaceful world. In the United States, it is Veterans Day, a day to honor all those who answered our country’s highest call to service, to whom we owe not just our eternal gratitude, but truly our freedom. We owe it to them and to all people who care about the future of this planet to make the most of these next two weeks and to make sure we have a successful outcome.”
If you are in Baku, catch up with EESI President Daniel Bresette and Policy Director Anna McGinn! To connect, email Anna at?[email protected].
Come visit us at Exhibit Booth 23 in Area B of the Blue Zone.?
Missed Friday’s edition? Check it out?here. We are also compiling key COP29?announcements?throughout the conference—check back for updates.?
Confused by COP terminology and acronyms? Check out?EESI's glossary of terms?and other helpful guides in the?COP29 Resources section! Looking for more information? Reach out to Anna at [email protected].
Key Takeaways for Congress
Negotiations
Opening ceremony:?The?opening ceremony?of the 29th session of the Conference of the Parties to the?UNFCCC, the 19th meeting of the Parties to the Kyoto Protocol, and the sixth meeting of the Parties to the Paris Agreement began with a formal transfer of leadership from COP28 President Sultan Al Jaber of the UAE to COP29 President Mukhtar Babayev, minister of ecology and natural resources of Azerbaijan. The new president followed up with a speech highlighting his top priority: to agree on a?new collective quantified goal on climate finance (NCQG). UN Climate Change Executive Secretary Simon Stiell?closed out the session?by framing the NCQG as an economic necessity, and imploring high-income countries to “dispense with the idea that climate finance is charity. An ambitious new climate finance goal is entirely in the self-interest of every single nation, including the largest and wealthiest.”
Opening plenary:?As of the writing of this newsletter, the parties?were still in the process?of approving this year’s?negotiating agendas—a slower start to the conference than usual. All side events and press conferences continued as scheduled today, but the climate negotiations themselves will not begin until the agendas have been adopted.
The finance question:?According to?Germanwatch's new?report on climate finance, specific sticking points for COP29 negotiations will likely include high-income countries’ tightening climate finance budgets, the distinction between “high-income” and “developing” countries, whether loss and damage finance should be prioritized over adaptation funding, and what types of funding will count as climate finance. The report also discusses what to expect for negotiations on adaptation, nationally determined contributions?(NDCs),?loss and damage, mitigation, and the?Just Transition Work Programme?(JTWP).
U.S. Updates
Podesta on the election:?At a?press conference, U.S. Senior Advisor to the President for International Climate Policy John Podesta addressed the “bitterly disappointing” U.S. election outcome. He highlighted the Biden-Harris Administration’s climate accomplishments and reaffirmed the United States’ commitment to climate ambition at COP29, and at a subnational level, in the wake of last week’s election.
Climate education:?At a?press conference?led by Vanderbilt University, graduate and PhD students participating in the National Science Foundation-funded Climate Leaders Academy discussed how the program has driven a multidisciplinary approach to climate education in U.S. higher education.
Around the World
The looming 1.5:?In a World Meteorological Organization (WMO)?press conference, the group presented key findings from their?State of the Climate 2024?report released today. The report stated that 2024 will be the hottest year on record, that 2015 to 2024 is slated to be the warmest decade on record, and that from January to September 2024, the global average near-surface temperature was 1.54°C (2.77°F) above pre-industrial levels—a level exceeding the?Paris Agreement?goal of limiting warming to 1.5°C?(2.7°F).
Adaptation update:?The Least Developed Country Expert Group (LEG) provided?findings and updates?on support for and progress towards national adaptation plan (NAP) implementation around the world. As of September 23, 2024, 58 developing countries have submitted NAPs, but several barriers to implementation remain, and the LEG found “little evidence” to show that existing adaptation projects have actually reduced human and ecological vulnerability to climate impacts.
Show me the numbers:?At the LEG?side event?(login required for link), the Green Climate Fund (GCF) detailed its COP28 commitment of designating 50% of funding for adaptation, half of which will support adaptation in?least developed countries. Among other initiatives, GCF’s adaptation financing has provided $7 million to each funding recipient country for country-led climate adaptation, including capacity building for NAP development and implementation. The GCF plans to scale up adaptation finance through avenues such as blended finance models, climate insurance, and encouraging countries to support “bankable” projects that attract both public and private investment.
Green Climate Fund on global financial systems:?Country and private-sector leaders gathered at a?side event?hosted by GCF that focused on reforming international financial architecture for the 21st century. Speakers highlighted the importance of empowering developing countries to meet their climate goals and discussed GCF’s role in international finance reform.
Building ocean solutions:?At a Global Ocean Forum and Plymouth Marine Laboratory?event, ocean leaders discussed strategies to support ocean sustainability. Speakers emphasized the importance of evidence gathering, cross-sector collaboration, quick information sharing, and building local understanding.?
Just resilience:?A diverse?panel?of stakeholders, hosted by the Republic of Trinidad and Tobago, Climate Strategies, and Stockholm Environment Institute, highlighted the importance of equity in climate adaptation—or “just resilience” in climate adaptation work. Speaker Mbulaheni Mbodi, of the South Africa Presidential Climate Commission, outlined?procedural justice, distributive justice, and restorative justice as keys to a just transition, emphasizing the inclusion of all stakeholders and the balanced distribution of adaptation risks, impacts, and opportunities.
Great expectations for the climate talks:?A?side event?at the World Wildlife Fund’s (WWF’s) pavilion discussed aspirational outcomes of COP29 that would set the stage for COP30 in Brazil. Panelists highlighted multilateralism as an essential component of each of the potential outcomes, including the NCQG, new pledges for adaptation and loss and damage finance, and progress towards new NDCs that reflect a fossil fuel phaseout. This event also promoted WWF’s October 2024 report,?Financing our Future; Unleashing Climate Action.