5 November, 2021
The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change (UNFCCC) will be held in Baku, Azerbaijan, from the 11th to the 22nd of November 2024.
COP29 represents a key milestone on the path from COP28 in Dubai in 2023, where the historic agreement on transitioning away from fossil fuels before the end of this decade was reached, to COP30 in Belém, Brazil, where countries’ new national emission reduction targets and plans to 2035, the so-called NDCs (Nationally Determined Contributions) will be judged.
COP29 will be a crucial moment to follow up on the achievements reached by the international community last year in Dubai, particularly on the implementation of a just transition to fossil fuel phase out with a tripling of the installation of renewables and doubling of energy efficiency by 2030.
Climate finance will be a central theme in the technical negotiations this year. The 198 Parties will discuss the new climate finance goal to help developing countries tackle climate change, known as New Collective Quantified Goal, or NCQG. 2024 represents the deadline to agree on the new target, which will apply from 2025, replacing the previous goal of USD$100 billion a year. Parties negotiating at COP29 will have to deliver a new climate finance target that recognises the need for investment (the famous trillions). The new target will also have to identify which countries will contribute to it, particularly the specific contribution of the most developed countries. The negotiations offer an opportunity for Parties to target the wider financial architecture reforms and actions needed to mobilise finance for development, through multilateral development banks and private finance.
From a geopolitical point of view, COP29 will take place in a highly fragmented context, characterized by the beginning of the new European Commission’s term, led by Ursula von der Leyen, the uncertainty around the U.S. elections, the G20 Summit that will be held in Rio de Janeiro in the middle of COP29, and the various conflicts that plague both the global North and South. The Conference of the Parties may thus become one of the last international contexts in which multilateralism not only survives but also shows that effective cooperation is still possible through dialogue, listening and compromise.
READ THE CONTENTS ABOUT COP29
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G20 Leaders Face the Climate Test
14 October, 2021
Supporting African green and resilient recovery: an agenda for G20 Italian and European leadership
28 July, 2021
REUTERS – Strained G20 climate talks could yet deliver progress on coal
28 July, 2021
PROJECT SYNDICATE
GLOSSARY
Everything you need to know to understand climate negotiations and diplomacy
Oil and gas: production and consumption
The Paris Agreement
Mitigation and adaptation
Global stocktake
Greenhouse gas emissions
Italy Pavilion (Blue zone)
11:30-13:00 (GMT+4)
Shaping a new electrification action plan for Europe
Event organised by ECCO – the Italian climate change think tank
IRENA Pavilion (Blue zone)
16:30-17:45 (GMT+4)
Mediterranean Momentum: Accelerating Towards 1TW Renewable Energy by 2030
Event organised by IRENA and the Global Renewables Alliance
BUONGIORNO COP
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ECCO’S DELEGATION AT COP29
DALL’ITALIA
ECCO AT PAST CLIMATE CONFERENCES
In Baku, ECCO will take part in its fourth COP. Find out more about our work at past climate conferences