COP is back this time hosted in Azerbaijan, marking a critical juncture in our global climate journey. Building upon the conversations and commitments made in Dubai at COP28, the world's eyes now turn to Baku, where nations gather to confront the increasingly urgent and interconnected challenges posed by climate change. Last year, amidst the opulence of one of the world's most prominent oil-producing regions, questions lingered over the efficacy of the solutions discussed. Now, in Azerbaijan, it offers a unique landscape shaped by both natural beauty and significant energy resources, with an expected 50,000 attendees.
As global leaders, activists, scientists, and innovators convene once again, the stakes have never been higher. COP29 seeks to push beyond pledges and towards meaningful action, with a focus on accelerating decarbonisation, promoting resilient infrastructures, and fostering sustainable development. This year, as calls for transparency and actionable steps grow louder, Baku stands as a focal point for collaborative progress on the pressing environmental issues facing our world.
Opening Day Key Events of the World Leaders' Summit (Monday, 11th November 2024)
COP 29 begins today in Baku, where echoes of Azerbaijan's oil-rich history mix with ambitious plans for future gas expansion, COP29 faces scepticism: can the nation lead on climate solutions while remaining tethered to fossil fuels? Projections from the European Copernicus Climate Change Service indicate a "virtually certain" record-breaking 2024, expected to reach at least 1.55°C above pre-industrial levels. This would mark the first full calendar year to breach the 1.5°C threshold set in the 2015 Paris Agreement. With recent years already plagued by extreme heatwaves and storms, this projection signals that our climate crisis is intensifying faster than ever. These include a severe heatwave in West Africa during March and April, as well as intense rainfall that struck central Europe in September.
Mukhtar Babayev officially takes over as the elected COP29 president. He is a former oil executive with a 26-year tenure at Azerbaijan's state-owned oil and gas company, SOCAR, whilst climate activist Greta Thunberg has announced she will not attend COP29, criticising the event as a form of "greenwashing". A report out today from the UN's World Meteorological Organization states that oceans are warming at an accelerated rate, glacier melt is increasing, sea level rise is speeding up, and sea ice is shrinking.
What has happened since the last COP, COP28? There has been a significant surge in renewable electricity, particularly from wind and solar power. The International Energy Agency (IEA) now forecasts that solar electricity generation will quadruple by 2030 compared to 2023 levels. While the current trajectory indicates that we may not meet the target of tripling all renewable energy by 2030, the growth will be substantial, reaching 2.7 times the current levels, according to the IEA. The US has increased its production of oil compared to last year. Energy consumption continues to grow, partly due to data centres and artificial intelligence, with over half of that energy generation coming from fossil fuels.
France, Germany, China, India and the United States will not be sending their presidents and prime ministers.
Day 2 of COP29 (Tuesday, 12th November 2024)
Today marks the start of the World Leaders' Climate Action Summit, where 133 world leaders will each address the conference for a few minutes. Normally, we expect bold claims, promises, and pledges; however, in an unusual move, negotiations have already begun in Azerbaijan, with countries discussing how wealthier nations can invest in developing nations. This is the main focus of this year's COP29.
Keir Starmer has stated he will not increase financial contributions beyond the £11.6 billion already pledged until 2025 at the earliest, asserting that the private sector now has to play its part. The £11.6bn of promised climate finance will be spent between April 2021 and March 2026. He also said he wants to "win" the global race to address climate change.
Nine years ago at COP21, nearly 200 parties adopted the legally binding international treaty on climate change known as the Paris Agreement.
Stepping away from COP29 a moment, news has broken that Shell has successfully appealed a Dutch court's prior ruling requiring it to cut carbon emissions by 45%, with the Hague Court of Appeal finding that the company did not have a legally enforceable "social standard of care" to achieve this target. This decision overturns a 2021 case supported by Friends of the Earth and Dutch citizens, which had called on Shell to align its emissions with the Paris climate goals. The ruling coincides with international climate discussions now taking place in Azerbaijan.
The Biden administration has finalised a "methane fee" for large oil and gas producers, beginning at $900 per metric tonne of methane emissions in 2024, with increases scheduled through 2026. This fee will apply only to facilities emitting more than 25,000 tonnes of carbon dioxide equivalent per year. Methane, a potent greenhouse gas with a relatively short atmospheric lifespan, is targeted by scientists as an effective focus for short-term climate action. However, this is likely to be slashed by US president-elect Donald Trump.
UK Labour leader Keir Starmer highlights major environmental steps: lifting the onshore wind ban, committing to no new North Sea oil and gas licences, and closing the UK's last coal plant, making it the first G7 country to fully phase out coal power. Additionally, Starmer announced funding for carbon capture projects in Teesside and Merseyside, aiming to use skills from the oil and gas sectors to achieve net-zero emissions and keep the UK competitive in clean energy innovation. Addressing all world leaders, the UK is to reduce the country's emissions by 81% by 2035 against 1990 levels.
Meanwhile, Ethiopia has pledged it will direct 1% of its national budget to green initiatives and Brazil will reduce emissions up to 67% by 2035, compared to 2005 levels.
US and China have come together on how they plan to tackle super polluters together, such as methane.
Day 3 of COP29 (Wednesday, 13th November 2024)
World Leaders continue to address those attending COP29 today, including Italy and Pakistan. Prime Minister of Albania in his speak questioned the point of the summit 'if biggest polluters continue as usual'. Hearing from Greece now and the prime minister says his country has doubled its renewable energy output since 2014 but struggled with multiple floods and wildfires.
The World Bank (amongst others) announces a 60% increase in a joint goal of increasing climate funding to poor and middle-income countries to $120 billion by 2030.
The focus is back on Brazil where they've delivered their nationally determined contribution (NDC), compared to 2005, aiming for fossil fuel emissions cuts of 59% to 67% by 2035.
Sticking with South America, Argentina withdraws from COP29, only 3 days into the event. A shock rings out as they felt that the country was getting left out and therefore weakening its future and its capacity to adapt to change. This comes after they participated in the Gender Program at the Climate Change Convention.
El Salvador, Kazakhstan, Kenya, Kosovo, Nigeria, and Turkey join the pledge to triple global nuclear capacity by 2050, bringing the total to 31 members.
Day 4 of COP29 (Thursday, 14th November 2024)
Day four of COP29 was all about money, and a lot of it! World leaders and investors announced the COP29 Business, Investment, and Philanthropy Climate Platform (BIPCP) to help accelerate private capital into climate markets. The Asian Development Bank has announced a $3.5 billion funding initiative to address the pressing issue of melting glaciers, aiming to counteract their devastating environmental and socio-economic impacts. In a related move, Azerbaijan's banking sector has committed to allocating $1.2 billion towards green projects by 2030, reflecting the nation's growing focus on sustainable development.
Meanwhile, Sweden has pledged $730 million to the UN Green Climate Fund, bolstering international efforts to combat climate change and support vulnerable communities. Further advancing global collaboration, the COP29 Presidency has introduced the Baku Initiative for Climate Finance, Investment, and Trade (BICFIT) Dialogue. This initiative unites key organisations, including UNCTAD, UNDP, the WTO, the International Trade Centre (ITC), multilateral development banks, climate finance institutions, and previous and future COP Presidencies, to drive coordinated action in climate finance and sustainable trade.
Day 5 of COP29 (Friday, 15th November 2024)
Day five of COP29 opened with a stark critique from key experts, who declared that UN climate talks are "no longer fit for purpose" raising urgent concerns that the current frameworks are inadequate to address the rapidly worsening climate crisis. According to these experts, the talks have become bogged down by procedural barriers, lacking the ambition and flexibility needed to create impactful solutions. They are calling for a reimagined global climate governance model, one that is more agile and action-oriented to effectively tackle the increasingly complex challenges posed by climate change.
Compounding these concerns, a new report revealed that over 1,773 lobbyists from the coal, oil, and gas industries have been granted access to the climate summit. This significant presence of fossil fuel representatives at a conference aimed at advancing global emissions reduction and transition efforts has raised alarm. Many critics argue that allowing such lobbying threatens to dilute the summit's focus on urgent climate action, potentially undermining commitments to reduce fossil fuel dependence and slowing momentum for a sustainable transition.
There have also been rumours around Argentina, and the president is considering pulling out of the Paris Agreement, which could also involve the USA.
The Green Party in the UK is poised to endorse a reform of the COP process, seeking to remove fossil fuel companies and their network of lobbyists.
We end the first five days of COP29 with 1,200 methane leaks reported by those responsible in the last 18 months, but just 15 have responded and fixed the leaks. As with every COP, the number of private jets used to attend was significant: 65 landed in Baku during the week prior, with 45 arriving on Sunday 10th and Monday 11th alone!
Day 6 of COP29 (Saturday, 16th November 2024)
We've reached the halfway point, and there is still a long way to go to secure climate finance deals. Whilst today we'll see many climate marches and protests around the world, Day 6 of COP29 is about science, technology, and digitalisation. More events and discussions between countries continue, but there's a lack of breaking COP29 news today.
Day 7 of COP29 (Sunday, 17th November 2024)
Today marks a rest day at COP29 with week two of COP29 starting on Monday 18th.
Day 8 of COP29 (Monday, 18th November 2024)
Monday, 18th November, marks the second week of COP29, and so far, things have been bleak, with many saying there has been limited progress, especially in the developing country groups. The UN Secretary-General António Guterres, on day 7 of COP29, called on all G20 leaders, who are currently in Rio de Janeiro, to show leadership in cutting emissions. Climate change is a frequent topic at G20 summits, and the countries in the G20 are expected to provide trillions in public finance to help tackle climate change. With both coinciding, this is rare opportunity that opens to possibility to create side deals.
Some good news coming out of the slow COP29, the UK and US have just signed a new agreement for nuclear collaboration in which it wants to collectively combine research funds to speed up the development of new technologies.
Day 9 of COP29 (Tuesday, 19th November 2024)
As with the last couples of days, day 9 of COP29 is off to a slow start with many saying on the record that negotiations are not moving fast enough. There is some early good news coming from G20 summit. The countries that make up G20 have stated they will transition away from fossil fuels, but didn't let on how this would happen, however by reaffirming their commitment to climate goals, that is welcome news here at COP29. Within the G20 Rio de Janeiro Leaders' Declaration it says that they need to "substantially scaling up climate finance from billions to trillions from all sources".
Meanwhile, the British government says that the UK mistakenly included Australia on list of countries joining US-UK civil nuclear deal, which has now been removed.
Great news on fossil fuel subsidies! A Dutch-led coalition of governments has now welcomed the United Kingdom, New Zealand, and Colombia to the international Coalition on Phasing Out Fossil Fuel Incentives Including Subsidies (COFFIS), bringing total membership to 16 countries: Austria, the federal government of Antigua and Barbuda, Belgium, Canada, Colombia, Costa Rica, Denmark, Finland, France, Ireland, Luxembourg, the Netherlands, New Zealand, Spain, Switzerland, and the United Kingdom. They have announced that they will attend next year's COP30 with a plan for phasing out inefficient fossil fuel subsidies.
The UK, in particular, parts with billions in subsidies each year, which, when phased out, will unlock extra funds for climate finance support.
Day 10 of COP29 (Wednesday, 20th November 2024)
Day 10 at COP29 kicked off with some positive news: Argentina, who earlier stated they were pushed out of key negotiations, will in fact stay in the Paris Agreement. Meanwhile, as in all COP events, activists have been out in force today at the conference in Baku, trying to put pressure on negotiators to agree on climate finance deals.
Whilst nothing big is expected today (20th), tonight we'll hopeuflly see highly anticipated draft texts, if not in the early hours of tommorow (21st).
Day 11 of COP29 (Thursday, 21st November 2024)
Day 11 of COP29 kicks off with a wave of draft texts that were released early today. The text should answer the question: how much should rich countries (such as G20 members) pay to help developing countries combat climate change? Upon reviewing the draft texts, it appears they lack key figures, leaving negotiators with a significant task over the following day(s) to reach an agreement.
COP29 has released the following draft texts on 21st November:
- Matters relating to the Adaptation Fund
- Report of the Adaptation Fund Board
- Matters relating to the forum on the impact of the implementation of response measures serving the Convention, the Kyoto
- Report of the Green Climate Fund to the Conference of the Parties and guidance to the Green Climate Fund
- United Arab Emirates just transition work programme. Presidency text derived from text by co-facilitators of CMA 6 agenda item 5
- Matters relating to the global goal on adaptation. Proposal by the President
- Gender and climate change
- New collective quantified goal on climate finance. Streamlined compilation of proposals serving as transition to Presidency draft decision text, including options emanating from the Ministerial consultations
- Sharm el-Sheikh mitigation ambition and implementation work programme. Presidency text derived from text by the co-facilitators
- Further guidance on the mechanism established by Article 6, paragraph 4, of the Paris Agreement
- Implementing the global stocktake outcomes
We've now heard that there will be no cover text at COP29. This is in contrast to COP28 and COP27, where such a document was included. The cover text typically serves as a catch-all document for the conference. Germany have come out and said they are deeply disappointed with the text, asking for a clearer message on the next Nationally Determined Contributions (NDC).
Coal-rich Indonesia announced plans to phase out all fossil fuel power plants by 2040.
Day 12 of COP29 (Friday, 22nd November 2024)
The final day starts on 22nd November 2024, before we move on to next year's COP in Brazil. Negotiations now enter the phase of trying to find common ground, with the main topic being that of real monetary figures in the draft text. However, as with many other COPs, they tend to run over on the last day while nearly 200 nations bridge gaps and address sticking points in proposals.
The UK pledges £239 million to help tackle deforestation in countries such as Colombia and Indonesia, stating that forests play a critical role in the fight against climate change.
UAE reportedly stepped in when Saudi Arabi attempt to block the transition commitment made by the UAE last year.
The lastest version of the draft text now reads as; a call for a finance target $1.3tn by 2035.
After hours of negotiations it saw richer countries agree to raise $300 billion a year by 2035 for poorer nations, far short of the $1.3 trillion target.
Take a retrospective journey through the significant milestones of both COP28, COP27 and COP26, revisiting the crucial events and impactful decisions that defined the discourse on climate change at the global stage.