COP29 - significant discussions and updates

Question 1

Financing and Support for Vulnerable Nations

Answer 1

The long-debated New Collective Quantified Goal (NCQG) for climate finance remains unresolved, with disagreements over the amount, terms, and allocation of funds. Many developing nations, particularly those vulnerable to climate impacts, have expressed frustration over the lack of substantial financial support. The Loss and Damage Fund, initiated at COP28, is being reviewed for its implementation progress, although funds are yet to be distributed​

Question 2

Carbon Markets and Article 6

Answer 2

Negotiations on the rules governing international carbon markets under Article 6 are continuing. These markets aim to enable countries to meet emission targets more cost-effectively by trading carbon credits. The outcome of these talks is critical to unlocking large-scale emissions reductions through market mechanisms

Question 3

Energy Transition and Fossil Fuel Reduction

Answer 3

Commitments to triple renewable energy capacity and double energy efficiency by 2030 were reaffirmed, but progress has been slow. Concerns over the influence of fossil fuel lobbyists and a lack of robust anti-corruption measures have been raised, potentially undermining trust in the transition efforts

Question 4

Food, Agriculture and Water Day

Answer 4

For the first time, COP29 dedicated a day to address the links between food systems, agriculture and climate change. Initiatives like the Declaration on Reducing Methane from Organic Waste and the Harmoniya Initiative were introduced to drive transformation in these sectors

Question 4

New Climate Commitments

Answer 4

The host nations (UAE, Azerbaijan and Brazil) under the COP Troika have pledged to submit updated climate action plans (NDCs) aligned with the 1.5°C Paris Agreement goal. These plans are expected to provide a roadmap for achieving emissions reductions needed to meet global targets