The annual UN Climate Change Conference, Conference of the Parties (COP), is held annually, with the presidency rotating among five designated UN regions.
Azerbaijan has been selected as the presiding country for the 29th Conference of the Parties (COP29), and Baku will serve as the host city from November 11th to 22nd.
Azerbaijan has chosen Baku Stadium as the venue for COP29, which is known for its experience in hosting international events.
The COP29 Presidency has developed a strategy centered on two interconnected pillars targeting increasing ambition and promoting practical outcomes to ensure a transparent, impartial, and inclusive process.
Why COP29 is Important
At COP29, countries will work together to set a New Collective Quantified Goal (NCQG), a new climate finance target, to be more ambitious, transparent, and authentic.
This goal is intended to better support developing nations in addressing their needs for reducing emissions, adapting to climate change, handling loss, and damage, and keeping global temperatures below 1.5°C.
COP29 is also crucial as it’s the last meeting before the February 2025 deadline for countries to update their climate action plans, known as nationally determined contributions (NDCs).
These updated plans are expected to build on the outcomes of the global stocktake (a process that assesses the world’s progress toward meeting the goals of the Paris Agreement on climate change) from COP28, including the significant decision to shift away from fossil fuels.
This will set the stage for stronger national commitments to fight against climate change.
Key Agendas and Themes
The COP29 Presidency Azerbaijan has introduced global initiatives as part of its Action Agenda.
These initiatives are designed to navigate climate action, involve stakeholders beyond governments, and support COP29’s goals to increase ambition and promote effective action.
In developing these initiatives, the Presidency has worked closely with the United Nations Global Task Force and consulted with both, countries and other stakeholders. This inclusive approach will continue to help create an all-rounder action plan.
The Baku Global Climate Transparency Platform (BTP) will help developing countries prepare and submit their Biennial Transparency Reports.
It will also encourage collaboration and knowledge sharing among all countries on transparent goals. Additionally, it aims to direct resources and support to areas that need them most for building capacity.
Azerbaijan has an economic solar energy potential of 23 GW with a favorable climate of 2,400 to 3,200 hours of sunshine each year, the country has significant prospects for becoming a major solar energy producer.
Apart from solar this country is actively working to bring its vision of a dynamic wind, hydro, and green hydrogen, sector to life.
Significant Goals for 2030 and 2050
Azerbaijan is focused on developing its renewable energy to help in cutting greenhouse gas emissions by 40% by 2050.
The country aims to expand its renewable energy capacity to 30% by 2030 and make its energy system more diverse, positioning itself as a green energy leader.
The presidency country plans to set an example by updating its national targets in its next climate commitment, aligned with the 1.5°C goal.
India at COP29
As a major player in the Global South, India is set to play an important role at COP29, especially in discussions around climate finance.
India has consistently approved a clear commitment from developed countries to support climate funding for developing nations. It is advocating for $1 trillion per year, but developed countries are hesitant to meet this demand alone, which leads to a call for more countries to contribute.
India’s position is based on the principle of “common but differentiated responsibilities,” which means developed nations should take on more responsibility in financing climate support for developing countries.
Indian representatives have also emphasized that COP29’s success should be judged by whether developed countries meet their financial promises.
The country is also expected to recommend including the loss and damage fund, established at COP28, in the new climate finance goal.
As a key voice for developing countries, India’s involvement will be crucial to ensuring that COP29 outcomes address the needs of the Global South.
Vibhuti Garg Director, South Asia at the Institute for Energy Economics and Financial Analysis (IEEFA), Shantanu Srivastava CFA, and Purva Jain are joining the conference to discuss the policy, energy transition, and climate action in South Asia.
A key theme at this conference will be methane diplomacy, emphasizing efforts to reduce methane emissions, which account for about 30% of global warming since the pre-industrial period.
India, as the world’s third-largest methane emitter, has a major interest in global methane reduction efforts. However, it remains careful about implementing strict, economy-wide methane targets due to the prominent role of agriculture in its emissions.
Conclusion:
India, as a major source of methane emissions, faces both challenges and opportunities. By engaging in global partnerships like the U.S.-China collaboration and actively seeking international support at COP29, India can encourage its methane reduction efforts.
With proven solutions, improving data accuracy, and strengthening local capacities are significant steps in achieving this goal and contributing to global climate.
For more information visit: https://cop29.az/en/home
