“At best the avoidance of a diplomatic disaster”

In the past two weeks, around 40,000 people from all over the world took part in the UN climate summit COP29 in Baku, Azerbaijan. Key topics were the strengthening of global climate action, particularly with regard to the goals set out in the Paris Agreement, a new collective financing target to support developing countries in overcoming the climate crisis, and trusted and transparent global carbon markets to help countries collaborate to reach their climate goals. Here is the assessment by Ottmar Edenhofer, Director of the Berlin-based climate research institute MCC (Mercator Research Institute on Global Commons and Climate Change) and the Potsdam Institute for Climate Impact Research:.

“The climate summit in Baku was not a success, but at best the avoidance of a diplomatic disaster. It is now abundantly clear that we need additional negotiation formats for the global fight against the climate crisis. Not all of the almost 200 signatory states to the UN Framework Convention on Climate Change necessarily have to sit around the same table for progress to be made. It is now important to link climate financing for the Global South, which was the main topic of discussion in Baku, to emissions reduction in two ways. First, donor states in the wealthy North should mobilise the funds by pricing oil, coal and gas. Second, the money should ideally only flow if the recipient country demonstrably reduces their greenhouse gas emissions. Perhaps such a system can be established at future climate summits, but it is more likely to happen through smaller groups, in so-called climate clubs.”

Further information
Official communication on the conclusion of COP29:
https://unfccc.int/news/cop29-un-climate-conference-agrees-to-triple-finance-to-developing-countries-protecting-lives-and