The 2024 United Nations Climate Change Conference (COP29) commenced in Baku, Azerbaijan, on Monday, bringing together a broad array of delegates from nearly 200 countries. Business leaders, climate scientists, Indigenous Peoples, journalists, and other stakeholders are attending the conference, which will run until November 22.
The primary aim of COP29 is to unite countries in developing a collective strategy to address global warming. The summit is also expected to focus on enhancing climate finance to assist developing nations in mitigating the impacts of climate change.
What is COP?
The Conference of the Parties (COP) is an annual meeting of members of the UN Framework Convention on Climate Change (UNFCCC), an international agreement signed in 1992. The UNFCCC has provided the foundation for climate negotiations, committing its members to work together to stabilize greenhouse gas concentrations to a level that prevents dangerous human-induced interference with the climate system. Presently, there are 198 parties to the UNFCCC, which includes 197 countries and the European Union, making it nearly universal in its membership.
Since 1995, except for 2020 due to the COVID-19 pandemic, the parties have gathered each year to discuss international climate policies. A key responsibility of COP is to review the national communications and emission inventories submitted by member states. As outlined by the UNFCCC, “Based on this information, the COP assesses the effects of the measures taken by Parties and the progress made in achieving the ultimate objective of the Convention.”
Key Milestones of COP
COP has seen several significant milestones over the years. A major breakthrough occurred at COP3 in Kyoto in 1997, where the Kyoto Protocol was adopted. This international treaty set emission reduction targets for rich and industrialized nations, with the goal of reducing greenhouse gases by 4.2% by 2012, based on 1990 levels, as reported by the London School of Economics and Political Science (LSE).
However, the protocol faced significant challenges. Many wealthy nations, including the United States, which signed the protocol but never ratified it, expressed dissatisfaction with its provisions. At COP15 in Copenhagen in 2009, efforts to establish a successor treaty fell short.
A more successful attempt came at COP21 in Paris in 2015, where the landmark Paris Agreement was forged. This legally binding international treaty aims to limit global temperature rise to well below 2 degrees Celsius, ideally keeping it under 1.5 degrees Celsius. As part of the agreement, parties committed to submitting their climate action plans, known as nationally determined contributions (NDCs), by 2020.
Another significant development came at COP26 in Glasgow in 2021, with the adoption of the Glasgow Pact. This agreement included a commitment to “phase down” coal use (though the language was watered down from “phase out” during negotiations) and to phase out “inefficient fossil fuel subsidies.” This was the first time a UN climate agreement specifically addressed coal.
At COP28 in Dubai last year, the establishment of a Loss and Damage fund was a key highlight. This fund is designed to provide financial assistance to nations impacted by climate-related disasters.
Criticism of COP’s Effectiveness
Despite these milestones, COP has faced substantial criticism for its lack of progress in significantly reducing emissions and achieving climate goals. One of the most significant concerns is that COP has failed to implement sufficient emission cuts to meet the targets of limiting global temperature rise to 1.5 or 2 degrees Celsius. Studies have shown that the world must reduce emissions by at least 43% by 2030 compared to 2019 levels to keep the 1.5-degree target within reach. However, by 2023, emissions were still rising and had not yet peaked. Even in the most optimistic scenarios, global emissions are projected to be only 2% below 2019 levels by 2030, far from the required 43% reduction.
COP has also been criticized for its failure to fulfill promises regarding climate finance for developing nations. In 2009, wealthier countries, which are disproportionately responsible for the climate crisis, committed to raising $100 billion annually to help developing nations mitigate greenhouse gas emissions and adapt to climate change. However, they have not met this commitment, prompting frustration from poorer nations.
Expectations for COP29
At COP29, the issue of climate finance remains a central topic. Delegates are negotiating the New Collective Quantified Goal (NCQG), which outlines the amount of money developed countries must raise annually from 2025 onward to finance climate action in developing nations. This amount must exceed the $100 billion previously promised.
However, discussions surrounding the NCQG have been marked by deep divisions. As reported by Carbon Brief, parties are at odds over several aspects of the fund, including “the amount of money that needs to be raised, who should contribute, what types of finance should feed into it, what it should fund, and what period of time it should cover.” As such, it remains uncertain how member states will finalize the NCQG.
Looking Forward
As COP29 continues, the global community will be watching closely to see whether meaningful progress can be made on these critical issues. The ability of wealthy nations to fulfill their climate finance promises and take more decisive action on emission reductions will play a pivotal role in determining whether the world can meet its climate goals in the years to come. With the stakes higher than ever, the outcome of COP29 will be crucial for shaping the future of global climate policy.
In conclusion, while COP has played a central role in advancing international climate dialogue, the persistent challenges, including insufficient emission reductions and unmet finance commitments, point to the need for more robust and immediate actions. As the summit unfolds, all eyes will be on the discussions and decisions that emerge from Baku.
