The annual Conference of the Parties (COP) recently held its 29th meeting in Baku, Azerbaijan, from November 11 to 24, 2024. This year, representatives from over 200 countries convened to address pressing climate challenges, ranging from climate finance to fossil fuel divestment and the intersection of climate justice and human rights.
Background of COP
The Conference of the Parties serves as the decision-making body for the United Nations Framework Convention on Climate Change (UNFCCC), a treaty established at the 1992 Earth Summit in Rio de Janeiro. Since the first COP in 1995 in Berlin, the summit has played a pivotal role in shaping global climate policy. A landmark moment occurred at COP3 with the Kyoto Protocol, a legally binding agreement for developed nations to reduce emissions. However, the protocol faced criticism for excluding many developing countries.
Central Focus
Azerbaijan, the host nation, began laying the groundwork for COP29 by launching the Climate Finance Action Fund plans in July 2024, aiming to secure an annual $1 billion investment in renewable energy from fossil fuel producers. During pre-COP discussions in October, priorities such as finance, fossil fuel divestment and support for vulnerable communities were outlined.
At COP29, finance was a fundamental topic–as it has been in the past. Delegates agreed on an ambitious commitment: wealthier nations pledged to contribute $300 billion annually to support developing countries in addressing and preventing climate impacts. This ten-year initiative, starting in 2025, builds on the existing $100 billion target and aims to bridge funding gaps for climate adaptation and mitigation.
Fossil Fuels Divestment
The global shift away from fossil fuels was another key topic. Discussions centered on balancing economic interests and environmental imperatives. While many nations advocated for clear transition timelines, major fossil fuel producers like China, India and Saudi Arabia resisted binding deadlines. The result was an unclear plan forward in how to shift away from fossil fuels to renewable energy.
Human Rights: a Crucial Conversation
Azerbaijan’s role as host sparked controversy due to its human rights record, including restrictions on freedom of expression and political dissent. Activists, including Greta Thunberg, boycotted the conference and highlighted the intersection of human rights and climate justice. These concerns served as a stark reminder of the need for accountability and inclusivity in addressing climate challenges.
A Path Forward
The final week of COP29 was dedicated to strengthening negotiations, particularly on the climate finance target and renewable energy transitions. While the agreements signal progress, questions remain about their implementation and effectiveness. As global emissions continue to rise, the role of COP in driving meaningful change is increasingly scrutinized. Moreover, with delegates traveling globally to attend these summits, critics question whether the carbon footprint of such conferences undermines their purpose.
COP29 concluded with cautious optimism, but its success will ultimately depend on the concrete actions nations take to meet their commitments in the years ahead.
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