Recently, the annual global climate conference, COP29, concluded in Baku, Azerbaijan.
Background of COP 29
- Fossil Fuel Emissions: The UN reports that burning coal, oil, and gas accounts for more than 75 percent of global greenhouse gas emissions and roughly 90 percent of all carbon dioxide emissions.
- Rising Temperatures: The World Meteorological Organization’s (WMO) projects 2024 to be the warmest year on record, with global temperatures 1.3°C above pre-industrial levels and the past decade being the hottest in history, demanding urgent action.
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About COP and UNFCCC
- COP (Conference of the Parties): The primary governing body of the UN Framework Convention on Climate Change (UNFCCC).
- UNFCCC: An international treaty created in 1992 during the Earth Summit in Rio de Janeiro to guide global climate negotiations, aiming to stabilise greenhouse gas concentrations at safe levels to avoid severe human-induced climate disruptions.
- Membership: The UNFCCC includes 198 parties, comprising 197 countries and the European Union, reflecting near-universal global commitment to climate action.
- Significant milestones mark the history of UNFCCC COP conferences:
- Kyoto Protocol (1997): A landmark agreement at COP3 that set legally binding emission reduction targets for developed countries.
- Copenhagen Accord (2009): At the COP15, Copenhagen Accord, developed nations pledged to provide $100 billion annually in climate finance by 2020 to help developing countries combat climate change.
- Paris Agreement (2015): At COP21, Nations agreed to limit global temperature rise to below 2°C, aiming to cap it at 1.5°C.
- Glasgow Climate Pact (2021): At COP26, nations focused on coal phase-out and enhanced climate finance commitments.
- Loss and Damage Fund (2023): COP28 launched a fund to support countries affected by climate disasters.
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- Political Uncertainty: Potential U.S. policy shifts under Donald Trump, who previously withdrew from the Paris Agreement, could undermine global climate commitments and diplomacy.
- Unmet Climate Finance: The $100 billion annual pledge from 2009 remains unfulfilled, complicated by conflicts in West Asia and Ukraine, and funding debates.
- Establishing an ambitious New Collective Quantified Goal (NCQG) is critical to address this gap and provide clarity on future commitments.
About COP29
- COP 29 stands for 29th meeting of the Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC)
- These conferences serve as the principal forum for countries to discuss and make decisions on combating climate change.
- Venue: Baku, Azerbaijan.
New Collective Quantified Goal (NCQG)
- The NCQG refers to money that will be given to developing countries by developed countries to provide climate finance.
- The NCQG is expected to be an update on the $100 billion per year that developed countries had promised developing ones in 2009 which would be mobilised from 2020-2025.
- The 2015 Paris COP had committed to an NCQG by 2025.
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- Theme: “Investing in a livable planet for all.”
- Focus of COP29:
- Dubbed the “Finance COP,” it aims to establish a new collective quantified goal (NCQG) to mobilise financial resources for climate action, especially for developing nations.
- Find ways to accelerate the energy transition from fossil fuels to renewable energy.
- Global adaptation strategies to combat climate vulnerability and curb global warming below 1.5°C (2.7°F) pre-industrial levels.
- The culmination of the first Global Stocktake, initiated at COP26, is central to COP29.
- Operationalizing the Loss and Damage Fund to address the needs of the most affected countries.
- Article 6 of the Paris Agreement: Article 6 of the Paris Agreement created principles for carbon markets and ways countries could cooperate to reach climate targets.
- While rules were agreed to at COP26, still there is a need to establish the necessary guidance to operationalise it.
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Key Outcomes of COP29
- Global carbon market: An agreement has been reached on international carbon market standards under Article 6 of the Paris Agreement.
- It offers two pathways for countries and companies to trade carbon offsets, supporting the achievement of emission reduction targets set in their climate action plans, or nationally determined contributions
- This framework can help direct resources to developing countries and potentially save up to $250 billion annually per year by enabling cooperation across borders.
- Implementing Loss and Damage Support: COP29 has made progress in putting the Loss and Damage Fund into action, providing financial help to countries vulnerable to climate impacts.
- Global Energy Storage and Grid Pledge: The pledge commits signatories to commit to a collective goal of deploying 1,500 GW of energy storage globally by 2030.
- COP Hydrogen Declaration Launched: The pledge signatories commit to scale up renewable, zero-emission and low-carbon hydrogen production, and to accelerate the decarbonisation of existing hydrogen production from unabated fossil fuels.
- Launch of the Hydro4NetZero-LAC initiative The initiative aims to develop and modernise sustainable hydropower infrastructure.
- Baku Harmoniya Climate Initiative: launched in collaboration with FAO, aims to unite various efforts to address climate change in agriculture through adaptation and mitigation
- Global Energy Efficiency Alliance, COP 29: The Global Energy Efficiency Alliance was launched by the UAE at COP29 in Azerbaijan, following the momentum built by the ‘UAE Consensus’ during COP28.
- This initiative highlights the UAE’s commitment to reducing carbon emissions and conserving natural resources by promoting global collaboration.
- Publication of Climate Change Performance Index 2025: The Climate Change Performance Index (CCPI) uses a standardised framework to compare the climate performance of 63 countries and the EU (which account for over 90% of global greenhouse gas emissions),
- under four categories: GHG Emissions, Renewable Energy, Energy Use and Climate Policy.
- Baku Declaration on Climate Transparency: The declaration calls for global commitment to the full operationalisation of the Enhanced Transparency Framework (ETF).
- Strengthening Nationally Determined Contributions (NDCs): Countries are encouraged to enhance their Nationally Determined Contributions (NDCs) with a 2025 deadline to update commitments.
India’s Evolving Role in Global Climate Governance
- Early Caution (1970s): India approached global climate action cautiously, emphasising poverty alleviation alongside environmental protection.
- At the 1972 Stockholm Conference, India highlighted the need to balance environmental concerns with economic needs.
- Perception of Environmental Action as a Growth Constraint: Initially, environmental protection was seen as requiring reduced economic activities and industrialization, which could hinder economic growth and human development.
- Adoption of Sustainable Development: The concept of sustainable development provided a framework for balancing economic growth with environmental conservation.
- This shift helped bring developing countries, including India, into global climate action discussions.
- Advocacy for Climate Justice: India has consistently championed Common But Differentiated Responsibilities (CBDR) and called for finance, technology, and capacity-building support for developing countries.
- Greater Engagement (2000s): India became an active participant in climate talks, hosting COP8 in 2002 at New Delhi and launching the National Action Plan on Climate Change (NAPCC) in 2008 to strengthen domestic climate efforts.
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India’s Intervention at the Plenary Session of the UNFCCC-CoP29
| The Mitigation Work Programme (MWP) is a process established by the United Nations Framework Convention on Climate Change (UNFCCC) to help countries scale up their mitigation ambition and implementation in order to achieve the 1.5°C goal of the Paris Agreement |
- Mitigation Work Programme (MWP): India expresses dissatisfaction on unwillingness by Developed countries to engage in the Climate Finance and Mitigation Work Programme at CoP29 in Baku, Azerbaijan.
- India’s position on the Mandate of the MWP is that it should serve as a forum for open dialogue and exchange of ideas.
- It should thus be non-punitive and non-prescriptive.
- Opposition to EU’s Carbon Border Tax: At COP29 in Baku, India and China opposed the European Union’s proposed carbon border tax, which seeks to impose levies on imported goods like steel, cement, and aluminium to ensure fair competition for EU products while reducing emissions.They argue that the tax violates UN climate principles and unfairly burdens their economies.
- Finance vs. Mitigation in Climate Action: India firmly asserted that any attempts to deflect the focus from Finance to repeated emphasis on mitigation cannot be accepted.
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| The International Labour Organization (ILO) defines Just Transition as : “Greening the economy in a way that is as fair and inclusive as possible to everyone concerned, creating decent work opportunities and leaving no one behind.” |
- New Collective Quantified Goal (NCQG): India highlighted that as grant-based concessional Climate Finance is the most critical enabler to formulate and implement the new Nationally Determined Contributions (NDCs), action will get severely impacted in the absence of adequate means of implementation.
- Global Stocktake (GST): India does not agree to a follow up of the GST outcomes. As per Paris agreement, GST is supposed to only inform parties to undertake climate action.
- India on Just Transition: India strongly declined to accept any renegotiation of the shared understanding prevalent on ‘Just Transitions’ in the decision from Dubai.Just transition is often seen as a domestic issue, with national governments responsible for ensuring fairness.
- However, India emphasises that a true just transition starts globally, with developed countries leading in mitigation and providing support to developing nations.”
Importance of COP for India:
- The COP discussions are crucial for India to advance its climate goals, gain access to climate finance, and address the challenges of transitioning to a cleaner energy future.
- India’s Climate Commitments and NDCs
- First NDC Submission: India submitted its first Nationally Determined Contribution (NDC) to the UNFCCC on October 2, 2015.
- Updated NDC (2022): In August 2022, India updated its NDC, outlining climate goals for 2030.
- Achievements in Climate Targets
- Reduction in Emissions Intensity: India has already reduced the emissions intensity of its GDP by 33-35% from 2005 levels.
- Non-Fossil Fuel Energy Capacity: India has achieved about 40% of its electric power installed capacity from non-fossil fuel-based energy sources.
- India has committed to achieving net-zero emissions by 2070 under the Paris Agreement.
- India’s Role in Climate Finance
- Carbon Credit Market: India has also been a beneficiary of climate finance.It holds approximately 31% of the global carbon credits market.
- CDM Projects: India has the second-largest number of registered projects under the Clean Development Mechanism (CDM) of the Kyoto Protocol.
- The CDM of the Kyoto Protocol are important means for facilitating and expediting India’s steady energy transition away from fossil fuels to renewable sources of energy production.
- Renewable energy projects contribute approximately 50 percent of CDM initiatives in India.
- LiFE initiative: India promotes the LiFE initiative, which encourages global sustainable consumption patterns and environmentally friendly practices.
- Need for Investment and Technological Upgrade
- Dependence on Fossil Fuels: With 78% of its energy needs met through fossil fuels, primarily coal, India faces significant hurdles in transitioning to renewable energy.
- Loss and Damage Fund: Under the Loss and Damage Fund touted to be operationalised at the ongoing COP, India stands to receive significant potential financial support for it has been facing several extreme events in the past years in the form of floods, cyclones, etc. that has affected local communities, especially indigenous people.
- India has the second highest population of indigenous people after Africa.
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Challenges After the COP29
- Deadlock on a New Climate Finance Goal (NCQG) : The developed countries offered no more than $250 billion by 2035 as the New Collective Quantified Goal for Climate Finance (NCQG) despite acknowledging that at least $700 billion would be needed until 2030 to help developing countries.
- This was deemed unacceptable by several developing countries. This might impact the Nationally Determined Contributions (NDCs) update by nations.
- Loss and Damage Fund Management: The operationalization of the Loss and Damage Fund still remains a complex issue.
- Ensuring equitable distribution of funds to countries most vulnerable to climate impacts, and managing these funds effectively, will require clear governance structures, monitoring systems, and coordination among international bodies.
- Implementation of Agreements: While COP29 may set ambitious targets, the real challenge lies in translating agreements into action.
- Many previous commitments, such as climate finance pledges and emission reduction targets, have faced delays or been unmet.
- Political Will and Global Cooperation: Climate policies often face resistance due to national interests, economic constraints, or political opposition.
- Monitoring and Accountability: Ensuring transparency and accountability in the implementation of climate actions will be difficult.
- There is a need for robust mechanisms to track progress on emissions reductions, climate finance, and adaptation projects to avoid greenwashing or delays in fulfilling commitments.
- Mitigation and Adaptation Commitments: While nations have pledged net-zero targets, disparities in implementation and ambition persist, especially between developed and developing economies.
- Geopolitical Conflicts: Example: The war in Ukraine has similarly shifted Europe’s focus towards energy security, diverting attention and resources away from long-term climate objectives.
- Ensuring Just Transition: As the world shifts to a low-carbon economy, ensuring a just transition for workers and communities dependent on high-carbon industries will be a significant challenge.
Way Forward
- Strengthening Global Cooperation: To overcome geopolitical tensions, countries must prioritise collaborative action on climate change.
- Enhanced diplomatic efforts are needed to facilitate agreements on emissions reductions, renewable energy, and finance mobilisation
- Enhanced Technology Transfer: At COP29, there must be greater emphasis on the transfer of clean energy technologies to developing countries.
- Initiatives, such as the International Solar Alliance, should be scaled up to ensure global energy transitions
- Operationalizing the Loss and Damage Fund: To operationalize the Loss and Damage Fund, funding criteria, clear allocation mechanisms, developing the criteria for funding to be mobilised and disbursed around loss and damage must be established.
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Conclusion
- COP29 made significant progress in setting standards for international carbon markets, advancing the Loss and Damage Fund, and pledging increased climate finance.
- However, challenges remain in implementing these agreements, ensuring adequate funding, and maintaining global cooperation to meet long-term climate goals.
November 23, 2024
