COP29 Dispatch - November 15th, 2024
Center for Climate and Energy Solutions (C2ES)
C2ES is an independent, nonpartisan, nonprofit organization working to forge practical solutions to climate change.
Welcome to C2ES's COP29 Dispatch Series. To sign up for these updates or speak to a C2ES expert, please email Nora Zacharski at [email protected].
HIGHLIGHTS FROM NEGOTIATIONS IN THE PAST 24 HOURS
1. A new iteration of the?New Collective Quantified Goal?text was given to Parties—though not publicly released—that reportedly removed duplicative language, yet still stretches to some 25 pages. The co-chairs requested that?Parties provide submissions early November 16 before reconvening at 10:00 AZT to hand a new text to the COP29 Presidency.?
2.?In discussions on?how to improve the global stocktake?(GST) under the Paris Agreement, Parties are still divided over whether the future IPCC report should be published before or after the next GST and will reconvene November 16 to consider revised negotiating text.?
3.?There were still sharp divisions over whether the?latest text?for the?mitigation work programme?(MWP) could serve as the basis of a draft decision text for consideration and adoption by the end of the conference, as of November 15. The divide remains over the scope of future work and linkages to the GST. Some Parties indicated that progress depends on further progress in the climate finance rooms. Discussions ran late into the evening. ?
4.?There is a new text for?matters relating to the global goal on adaptation(GGA). Parties are struggling to reach consensus on several key issues, including:??
Parties also discussed whether common but differentiated responsibilities in light of national circumstances should be included in the work programme related to the GGA Framework.?Negotiations for the GGA are ongoing.??
5.?Negotiating text relating to?the Board of the Fund for responding to Loss and Damage?(FRLD) was released. Parties must reach an agreement on the reporting structure for the FRLD Board to both the Convention and the Paris Agreement. This is crucial to ensure that funding can be allocated to vulnerable nations starting in 2025. ?
6.?Negotiations on Article 6.2 of the Paris Agreement, which sets the rules for the accounting and transfer of carbon credits or ‘internationally transferred mitigation outcomes (ITMOs), continue. A new text seeks to?provide further guidance?on conditions for potential changes to and/or revocation of authorizations of Internationally Transferred Mitigation Outcomes (ITMOs), as well as on the connection between national registries and the international registry. Divergence among Parties persists, and technical negotiations will continue into the evening.
7.?Divergence remains on the?way forward for the enhanced Lima Work Programme’s Gender Action Plan (GAP). Some divergence also remains on language relating to finance, diversity, and human rights. The co-facilitators will prepare a new text November 16 by 9:00 AZT that streamlines views where possible, after which Parties will resume negotiations.??
8.?November 16 is the date set for the technical negotiations to end at COP29, ahead of Ministers arriving in the second week to resolve open issues. Several aspects of the New Collective Quantified Goal on Climate finance will certainly?have to be resolved at the political level if COP29 is to succeed.
HIGHLIGHTS FROM OUTSIDE THE NEGOTIATION IN THE LAST 24 HOURS
9. C2ES, CGEE, and IDDRI hosted an official UNFCCC side event that explored the relationship between the??GST, enhanced international cooperation, and nationally determined contributions (NDCs)
10. The Global Solidarity Levies Taskforce released a?new report?detailing policy options for levies on shipping, aviation, fossil fuels, financial transactions, and carbon pricing to address gaps in climate and development finance. The taskforce says it is also conducting research into levies for cryptocurrency and plastics production, coordinating a minimum effective taxation standard for ultra-wealthy individuals.??
11. The International Renewable Energy Agency (IRENA)?announced a partnership?to accelerate green industrial development and energy decarbonization in Central Asia.??
12. The?Utilities for Net Zero Alliance, initially launched at COP28, confirmed an?increased commitment?to enhancing renewable energy generation, doubling its membership base and increasing investments on grids and renewable power capacity.?
13. To support achieving the goal of doubling the rate of global energy efficiency improvements by 2030 from COP28’s global stocktake outcome:?
14. The United Kingdom?announced a funding package?to support the energy transition in developing countries, along with a?set of Integrity Principles?for the Voluntary Carbon Market.??
15. The Marrakech Partnership launched the?Sharm el-Sheikh Adaptation Agenda Annual Implementation Report, summarizing progress made on the Sharm el-Sheikh outcome targets throughout 2024.?
16. The COP29 Presidency held the?Baku Call on Climate Action for Peace, Relief, and Recovery, an initiative to address the links between climate change, conflict, and humanitarian needs. It established the Baku Climate and Peace Action Hub to coordinate global efforts for vulnerable, conflict-affected regions.??
ANTICIPATED ANNOUNCEMENTS AND UPCOMING EVENTS
Contact Us
C2ES President Nat Keohane and Vice President for International Strategies Kaveh Guilanpour are available for media comment and interviews. To arrange an interview contact: Nora Zacharski, [email protected],+1-612-246-9868