COP29 FIRST WEEK SUMMARY

COP29 FIRST WEEK SUMMARY

DAY1

NEGOTIATIONS BEGIN AMIDST DELAYS AND ANTICIPATION

Criticism of UAE NDC: While it demonstrated some progress, accusations of "greenwashing" arose due to its reliance on fossil fuel exports and offsetting.

Good News:

  • Article 6 : After years of gridlock, the draft text for Article 6.4 was adopted, enabling countries to move forward on detailed negotiations on carbon markets.
  • Global Engagement: Despite disagreements, over 80 national leaders gathered, showcasing commitment to climate action.

Bad News:

Agenda Delays: Formal negotiations were stalled until late evening due to disagreements on the UAE Global Stocktake’s placement under the finance agenda, reflecting ongoing North-South tensions.

Leaders Missing: Absence of key G7 leaders (e.g., Biden, Macron, Xi) sent a weak signal of commitment from developed countries.

DAY2

WORLD LEADERS CLIMATE ACTION SUMMIT (WLCAS)

Headline-Grabbing Moment

Peace & Climate: Geopolitical issues (e.g., Palestine) featured prominently in speeches, with calls to end conflicts as a precondition for collective climate action.

Good News

  • Finance Innovation: The Coalition for Solidarity Levies gained five new members and proposed raising $350 billion annually through levies on shipping, aviation, and fossil fuel extraction.
  • UK Leadership: Announced an ambitious NDC to reduce emissions by 81% by 2035 from 1990 levels.

Bad News:

  • NCQG Gridlock: Negotiations on the New Collective Quantified Goal stalled due to entrenched positions, slowing progress on essential finance mechanisms.
  • Civil Society Concerns: Activists raised alarms over repression at climate summits and urged future presidencies to prioritize inclusivity.

DAY3

TURNING COMMITMENTS INTO ACTION

Headline-Grabbing Moment

Azerbaijan’s Provocation: President Aliyev accused “Western fake media” of spreading false information, sparking diplomatic tensions and the withdrawal of France’s Environment Minister

Good News:

  • Brazil's NDC Progress: Brazil officially communicated its enhanced NDC to the UNFCCC, signaling momentum from the incoming COP30 Presidency.
  • High Ambition Coalition Revival: A new statement from 25 countries committed to a strong COP29 outcome, reinforcing multilateralism.

Bad News:

  • Finance Slowdown: Adaptation Fund contributions fell significantly short of the $300M target, jeopardizing support for vulnerable countries.
  • Draft Length Issues: Co-chairs’ 34-page draft on NCQG negotiations frustrated parties, leading to criticism over inefficiency.

DAY4

FINANCE DAY WITHOUT THE FUNDS

Headline-Grabbing Moment

Carbon Management Concerns: Controversy around the Ministerial on Carbon Management highlighted disagreements over its role in climate solutions.

Good News:

  • Transparency Talks Progress: Informal sessions tackled transparency in finance, focusing on enhancing access and addressing systemic barriers.
  • New Reports on Climate Finance: IHLEG’s flagship report and progress on Global Solidarity Levies were published, offering innovative solutions.

Bad News:

Underwhelming Finance Day: Only $61 million in pledges for the Adaptation Fund left it $239 million short, underscoring gaps in finance ambition.

Adaptation Gridlock: Discussions on National Adaptation Plans collapsed under Rule 16, deferring decisions to future sessions.