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All You Need to Know About COP29

COP29 in Baku will focus on climate finance, emissions reduction, and global cooperation to limit temperature rise, amid increasing extreme weather and financial system reform discussions.

Fred Avornyo
Nov 11, 2024

The 29th UN Climate Change Conference (COP29) begins today Monday November 11 in Baku, Azerbaijan, against a backdrop of record-breaking weather events such as floods in Spain, storms in Florida, wildfires in South America and heat in Ghana. These extreme occurrences highlight the urgent need for global action on climate change, particularly in financing clean alternatives to fossil fuels, which are driving the crisis.

A recent UN climate report warns that global average temperatures are nearing a dangerous 1.5°C rise above pre-industrial levels, potentially leading to a catastrophic 2.6-3.1°C increase by the end of the century. This could result in more frequent and severe weather disasters unless greenhouse gas emissions are sharply reduced. As such, urgent collective action is required, especially from the G20 countries, to curb emissions and limit global warming.

What is the UN Climate Change Conference (COP)?

COPs (Conferences of the Parties) are annual gatherings under the UN Framework Convention on Climate Change (UNFCCC), where nearly every country comes together to address the global climate crisis. These meetings are critical for agreeing on strategies to reduce emissions, limit temperature increases, help vulnerable communities adapt, and work toward net-zero emissions by 2050.

COPs are inclusive events that involve not only world leaders but also a wide range of participants, from business leaders and scientists to Indigenous peoples and youth. This diverse participation aims to foster collective climate action and share best practices.

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What Will Be the Focus of COP29?

A key focus of COP29 will be securing a new climate finance goal to ensure all countries, especially developing ones, have the resources to implement stronger climate actions. This includes slashing emissions, adapting to climate change, and managing the loss and damage caused by its impacts.

Delegates will also revisit discussions from the UN Summit of the Future on reforming the global financial system, which UN Secretary-General António Guterres has criticized as outdated and inadequate. Many poorer nations face crippling debt, hindering their ability to invest in essential services like healthcare and climate action.

What Happens Over the Two Weeks?

COP29 will feature numerous negotiations, speeches, press conferences, and events. The conference site will be divided into a “Green Zone,” open to the public, and a “Blue Zone,” where official negotiations occur.

Reaching an agreement typically involves intense, last-minute discussions, but the decisions made at COPs, though sometimes limited, are significant in shaping international climate policies.

Why Are COPs Important?

COPs bring together the world’s nations to make collective decisions on climate change. In 2015, COP21 led to the historic Paris Agreement, where countries pledged to limit global temperature rises to well below 2°C and aim for 1.5°C. This agreement initiated a cycle of increasingly ambitious climate actions every five years, with the next updates due in 2025.

Each COP builds on the previous year’s progress, pushing for stronger commitments and new agreements based on the latest climate science.

What Comes Next?

Beyond COP29, there are encouraging signs that the transition to clean energy is accelerating, creating jobs, and boosting economies. Renewable energy, especially from wind and solar, is becoming more affordable than fossil fuels in many regions.

Delegates will continue refining their national climate plans, focusing on phasing out fossil fuels and maintaining the goal of limiting global temperature rise to 1.5°C. Those investing in clean energy today are expected to reap significant benefits in the future.

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