Secretariat of the Pacific Regional Environment Programme (SPREP)’s Post

COP29 must reflect a collective ambition In light of the recent letter from HE Mukhtar Babayev, President-designate of COP29, Minister of Ecology and Natural Resources of the Republic of Azerbaijan to the Parties and Observer States, the Africa Climate Action Initiative (ACAI) reiterates its strong commitment to advancing climate finance and the new Collective Quantified Goal on Climate Finance (NCQG). ACAI highlights the imperative of engaging stakeholders, including civil society, youth, non-governmental organizations, indigenous peoples and other relevant groups, in the final stages of implementation of the Article 6 of the Paris Agreement and financial mechanisms such as the pricing of agri-food GHG emissions proposed by the TAPP Coalition and its partners to deal with losses and damages. africa-climate-english-version24-1720255072.pdf (tappcoalition.eu) The inclusion of diverse stakeholders is paramount to fostering a holistic and inclusive approach to climate action. ACAI calls on the COP29 President-designate to facilitate broad participation, ensuring that the voices of those most affected by climate change are heard and included in decision-making processes. This participatory approach is essential to strengthen the effectiveness and legitimacy of climate finance mechanisms and ensure that financial flows reach those who need them most. Additionally, ACAI highlights the need to strengthen ambitions for nationally determined contributions (NDCs) and mitigation efforts. The current trajectory of global emissions requires urgent and robust action. Inclusive participation in the formulation and implementation of NDCs can drive innovation, foster accountability and catalyze the transformative changes needed to achieve the goals of the Paris Agreement. By involving a broad range of stakeholders, the implementation of Article 6 and the deployment of the Loss and Damage Fund can be more effectively aligned with the principles of equity and justice. ACAI remains optimistic that with enhanced cooperation and inclusive dialogue, the global community can achieve a just and sustainable transition to a low-carbon future. ACAI is committed to working collaboratively with all parties to ensure that the outcomes of COP29 reflect the collective ambition and resilience of those on the front lines of the climate crisis. #COP29 #CCNUCC #UNEP #TAPP #BAD #CEEAC #BAKU #AZERBAIDJAN #BANQUE MONDIALE #NIGAR #FMI

The #COP29 presidency has announced what it aims to achieve at the next #ClimateChange conference in Baku, Azerbaijan. Its flagship goal is to create a Climate Finance Action Fund (CFAF) made up of voluntary contributions from countries and companies producing #FossilFuels to finance climate mitigation, adaptation, research and development – and fund rapid responses to natural disasters in climate-vulnerable countries. Azerbaijan's agenda for the conference has been met with scepticism from the likes of Andreas Sieber of 350.org and Paul Polman, former CEO of Unilever, now a climate and peace activist. https://lnkd.in/e2Er6ruU #ChiefSustainabilityOfficer #ClimatePolicy #EnergyTransition

COP29 is set to begin in exactly eleven days from today. The stage is set for developing vs developed countries debate on climate finance. The developing countries argue that the the developed countries have reneged on their much talked about US$100 billion contribution while the developed countries are adamant that this target has been met. This stalemate brings us to what i think should take the center stage in Baku, a New Collective Quantified Goal on Climate Finance (NCQG) . The lack of a standardised financial reporting framework has made it technically impossible to quantify and report the contributions from the developed countries. The NCQG would foster global partnerships and enhance trust and cooperation among nations, which is crucial for successfully implementing the Paris Agreement. World Economic Forum describes the NCQG as a key element of the Paris Agreement, designed to set a new financial target to support developing countries in their climate actions post-2025. It seeks to fill persistent gaps in climate finance, building on the US$100 billion target set at #COP15 and aiming to provide a more realistic and ambitious financial framework. For more on this refer to the attached brief from UN Climate Change The developed countries are concerned with the slow pace of expenditure of the climate finance by developing countries. South Africa is among the developing countries that are reported to be spending very slow the just transition funds pertaining to energy just transition as it battles with the rollout of a billion dollar transmission lines to connect the renewable energy projects to the grid Presidential Climate Commission. Dr Dion George MP is on record emphasising the need to spend the just transition funding expeditiously while acknowledging the fact that SA is transitioning slowly to low carbon energy systems. Nevertheless, South Africa is set to lobby for trillion-dollar climate finance deal to support developing countries to implement their climate action programmes. #Baku #COP29 #Climatefinance #SDG13 #justtransition #adaptation #WEF #mitigation

Elnur Soltanov, COP29 Azerbaijan's president and Azerbaijan's Ministry of Energy, delivered a speech during the #VIS2024 session "The Road to COP29: Island Priorities for Baku" ahead of the New York Climate Week, catching the attention of one of Devex's journalists. In his video, Sultanov highlighted the two pillars of action for COP29: (1) enhancing ambition and (2) enabling change. 📌 Enhancing ambition involves aligning critical tools, reporting, planning, and commitments with global goals while enabling action requires progress on climate finance. For this, global leaders will discuss a New Climate Finance Goal (NCQG) to replace the existing goal of $100 billion/year, and finalise Article 6 to support the development of high-integrity carbon markets. With promises of increased visibility on all Climate Finance and Justice matters, everyone is eager to see how this edition of the Conference of the Parties unfolds. Our team will be present at COP29 Azerbaijan in Baku this November to represent island voices, and you can already register to get access to exclusive information about our activities on-site. Register: https://lnkd.in/diCVk_6J Read Stéphanie Fillion's article about Elnur Soltanov's speech for Devex: https://lnkd.in/dxJQ4cj2 #COP29 #UnitedNations #ClimateChange #ClimateFinance #Baku #Azerbaijan #SIDS #Islands

The announcement of the Loss and Damage Fund (LDF) at the 2022 UN Climate Change Conference (COP27) in Egypt was a significant diplomatic victory for Pakistan, as was its formalisation at COP28 last year in the United Arab Emirates. In the last two years, Loss and Damage (L&D) — referring to irreversible costs of climate change beyond ecosystems’ adaptive capacities — has emerged as a central focus of L&D finance, even if it has yet to become operational. Regrettably, the allocated funds remain woefully inadequate, amounting to approximately $700 million against an estimated need of $290-580 billion by 2030. To fully leverage the potential of L&D, countries like Pakistan have to understand the two foundational mechanisms that preceded the LDF: the Warsaw International Mechanism (WIM) and the Santiago Network. Together, these three mechanisms form the core architecture for enabling developing countries to respond to Loss and Damage.

I am back from my second visit to Baku, Azerbaijan, where I had the chance to attend the High-Level Ministerial Dialogue on #NCQG (aka, the new finance goal) and the Pre-COP29 negotiations. A few reflections: 🛑 A new finance goal is the most important outcome that must be agreed at COP29. But only a few weeks away, some key issues remain unresolved, underscoring the lack of consensus on most key NCQG elements including quality, quantum, structure, sources and timeframes. 🚫 There was an attempt to frame convergence around a multilayered approach to this goal by developed countries, trying to deviate from what a core public provision quantum should look like, to instead mix mobilisation of private finance, and refocus the debate on investments and wider finance flows, which are dealt with Sharm el-Sheikh Dialogue on Article 2.1(c) of the Paris Agreement. It is essential not to blur the lines between Article 9 and Article 2.1c to maintain accountability and create unfair new responsibilities for developing countries. 💰 As I said in my final intervention on behalf of the Environmental Constituencies of the UNFCCC and in the interview below, the only layers that the NCQG needs are public finance provision and overall mobilisation. Any ambitious quantum without public finance targets and provided at scale in the form of grants is completely meaningless. 👊 Developing countries must remain united and have the courage to insist on what is necessary, to reject the efforts of the developed countries to undermine CBDR, and NCQG that does not commit sufficient money for 1.5C mitigation, adaptation, and for resourcing the Loss and Damage Fund at scale. 📣 Civil Society from all corners of the globe are making a call for an ambitious NCQG very clear. Ready our letter here: https://lnkd.in/dtQbX5VM Climate Action Network International #NCQG #climatefinance #UNFCCC #LossAndDamage #UNFCCC #COP29

🌍💡 At the 10th Special Session of the African Ministerial Conference on the Environment (AMCEN), African leaders have made a bold call for $1.3 trillion in annual climate finance to protect the continent from the escalating dangers of climate change. As we look ahead to COP29 in Baku this November, the African Group of Negotiators (AGN) is set to champion this vision, with a clear focus on securing grants and concessional finance, not debt-laden solutions. African countries are already facing crippling climate impacts and economic burdens, despite contributing the least to global emissions. The call for a New Collective Quantified Goal (NCQG) on climate finance, replacing the unmet $100 billion pledge, is urgent. This is a decisive moment for rich nations to step up and fulfil their obligations. 🔑 Key asks include: - $1.3 trillion in climate finance, prioritising adaptation and loss and damage support. - A shift from loans to grants, alleviating Africa's growing debt crisis. - Operationalising the Loss and Damage Fund and Global Goal on Adaptation to safeguard lives, livelihoods, and ecosystems. Africa's fight for climate justice is gaining momentum, and COP29 could be a pivotal moment to ensure the continent’s just transition. 🌱 Read the full article from Environews Nigeria here: https://lnkd.in/d5tJ8Xam #ClimateFinance #SustainableDevelopment #AMCEN #COP29 #GreenTransition #ClimateAction #AfricaClimateCrisis

Yesterday, the Organization for Economic Co-operation and Development (OECD) released new figures showing that developed countries provided and mobilized USD 115.9 billion in #ClimateFinance for developing countries in 2022. This is a 30% increase, or USD 26.3 billion, from 2021. This increase in climate finance is a significant step forward in supporting developing nations' efforts to protect our planet. It's important to remember that at the 15th Conference of Parties (COP15) in Copenhagen in 2009, developed countries committed to a collective goal of mobilizing USD 100 billion per year by 2020 for climate action in developing countries in the context of meaningful mitigation actions and transparency on implementation. The goal was formalized at COP16 in Cancun, and at COP21 in Paris, it was reiterated and extended to 2025. Developed countries must keep up the momentum and leverage it further with additional policy efforts to boost private climate finance while also increasing our ambition for the new post-2025 goal. Let's keep pushing for more ambitious climate actions and commitments! Read more: https://lnkd.in/g2sG7MkP

The article discusses how oil-rich nations are hindering progress on a landmark UN climate agreement aimed at phasing out fossil fuels. Negotiators from five Western countries are pressuring Azerbaijan, the host of the COP29 summit, to focus on discussions about phasing out fossil fuels. This comes in response to pushback from countries like KSA, Russia & Bolivia, which have historically blocked global efforts to phase out fossil fuels. At COP28 in Dubai last year, 200 countries agreed to transition from fossil fuels by 2050 and triple renewable energy capacity by 2030. However, the efforts to solidify these goals at COP29 are being frustrated. Azerbaijan, heavily dependent on oil and gas (which makes up about 90% of its export revenues and 60% of its budget), is reluctant to lead efforts to transition away from fossil fuels. The key challenge: the reliance of many countries on fossil fuel revenues makes it difficult for them to push forward with aggressive climate action. One major concern at COP29 will be climate finance. African governments have already demanded over £1tn a year for climate finance, as nations clash over how much financial support should be given, who should pay, and how the funds should be distributed.

CMAI with its delegation is gearing up for participation in COP 29 in Baku, Azerbaijan, scheduled from November 11 to 22. Our objective is to highlight exemplary practices and advocate for industry-driven solutions that make substantial contributions to a sustainable future. #COP29 is critically timed amidst the escalating climate crises affecting communities worldwide. Termed the 'finance COP', it focuses on finalizing the New Collective Quantified Goal on Climate Finance this year. A significant agenda is to address the unmet 2009 commitment by developed countries to provide $100 billion annually to support climate actions in developing nations. In 2024, the conference aims to establish a higher annual financial target and decide on the nature of these funds—whether as grants or loans—signifying a pivotal moment in global climate governance and solidarity efforts. Are you interested in becoming the CMAI Member to be part of delegation at COP 29? To register, please access the registration form by clicking on the following link https://lnkd.in/dMVfKsxK Together, let’s drive climate action and create a sustainable future! 🌱💼 #CMAI #ClimateAction #Sustainability #Decarbonization #Azerbaijan #ParisAgreement #CarbonMarkets #ClimateFinance #GreenTechnology #EmissionReduction #UNFCCC #COP29 #GlobalCooperation #CarbonMarkets #Article6 #ParisAgreement #VCM #VCMI #ICVCM #CCTS #ETS #Offset #SustainableDevelopment #PMO #MOP #MOEFCC #BEE #MOCI #MOPNG #CPCB