MAIN OUTCOMES OF THE

BAKU CLIMATE CHANGE NANA ANTWI-BOASIAKO

AMOAH, PHD
CONFERENCE (COP29)
THE 29TH SESSION OF THE CONFERENCE OF PARTIES
(COP29) TO UNITED NATIONS FRAMEWORK CONVENTION
ON CLIMATE CHANGE (UNFCCCC)

The 2024 United Nations Climate Change Conference or

Conference of the Parties of the UNFCCC, more commonly
known as COP29, was the 29th United Nations Climate
Change conference, held in Baku, Azerbaijan, from 11 to 22
November 2024.
 WHY DO PARTIES, INDIVIDUALS AND ORGANISATIONS
ATTEND COP SESSIONS
Side events and
High level Bilateral meetings exhibitions to
engagements and engagements showcase climate
actions and
solutions

Negotiations
- Follow thematic issues Protestors
- Follow agenda
item(s)
PRE-COP29 EXPECTATIONS: FROM JUNE 2024 BONN SESSION TO BAKU

Expectations to read go High expectations to reach Global Goal on Adaptation

deal on the new collective a decision on Article 6.2 & ( indicator work and fate of
quantifiable goal on 6.4 (Markets) the GGA beyond COP30)
climate finance (NCQG)

Keeping 1.5 degrees alive The full activation of the

through ambitious updated Loss and Damage Fund
nationally determined Transitioning away from originally established
contributions (NDCs). fossil fuel during the COP27 in Sharm
Existing data from UNEP on El Sheikh
NDCs = 2.9 degrees
 CONTEXT
❑ With a backdrop of new data predicting 2024 to be the hottest year on record,
increased extreme weather set to cost billions in damages, and a complex
geopolitical context, COP29 was expected to highlight the urgent need for climate
action
❑ The global climate agenda action centre was Baku, Azerbaijan, with
over 65,000 world leaders, decision-makers, private sector organizations
and civil society members

❑ COP29 was mainly focusing on finance to cause-correct the climate

financing gap especially for adaptation in developing countries.

❑ The goal was to solidify global cooperation and secure tangible

advancements in addressing climate change’s most pressing challenges.
 SPECIFIC AIMS/OBJECTIVES
Key negotiations aimed to:
Make significant strides in
Set a new global climate
adaptation and loss and
finance target
damage efforts
Strengthen or enhance
Advance progress on the
nationally determined
COP28 energy pledges
contributions

Conclude the long negotiations on Art.6

What did COP29 Achieve?
1. A new global climate finance target
❑ Negotiators faced the critical task of setting a new global climate finance
target for 2025 and beyond, building on the previous $100 billion per year
commitment.
❑ Delegates worked to address the quantity, quality and sources of climate
finance. Vulnerable countries pushed for concrete assurances regarding loss
and damage mechanisms to ensure the necessary financial support is
delivered.
❑ Key priorities included establishing fair expectations for contributors,
ensuring financial support translated into tangible impact and mobilizing
substantial private-sector investment.
 What did COP29 Achieve?
❑ Parties agreed on a “New Collective Quantified Goal for climate finance”
to support developing countries in two parts:
• $1.3 trillion per year to be “enabled” by all actors.
• $300 billion annually from developed countries to support climate
action in developing countries
❑ Both targets can be met through public and private sources but while they
represent significantly more than past goals, they still fall short of the
financial needs of vulnerable nations.
Moreover, the goal does not build on commitments to reduce fossil fuels
 What did COP29 Achieve?

2. Article 6: Establishing a global architecture for carbon markets

❑ For international trade of mitigation outcomes (Article 6.2), COP29 clarified how
countries will authorize carbon credit transactions and manage tracking registries.
❑ Additionally, it established mechanisms to ensure environmental integrity through
upfront technical reviews in a transparent process.
❑ Under the centralized carbon crediting mechanism (Article 6.4), the Paris Agreement
Crediting Mechanism now includes mandatory safeguards to protect the environment
and human rights.
❑ These safeguards ensure projects cannot proceed without the informed consent of
Indigenous Peoples.
❑ The supervisory body, responsible for overseeing the mechanism, has a comprehensive
action plan for 2025.
 What did COP29 Achieve?
❑ The progress in Article 6 negotiations, achieved at COP29, will be crucial for
creating functional carbon markets, which are essential for meeting the Paris
Agreement´s reduction targets and mobilizing much-needed finance.
3. Ambitious and investable nationally determined contributions
❑ State delegates faced mounting pressure to raise their ambition and establish
expectations for the next cycle of national climate plans.
❑ With the deadline for submitting updated nationally determined contributions (NDCs) in
2025, parties were encouraged to update their climate commitments to be more
ambitious, investable and equitable as part of the five-year update cycle.
This phase requires higher emissions reduction targets and key outcomes from past
COPs, such as commitments to phase out fossil fuels and triple renewable energy
capacity by 2030.
 What did COP29 Achieve?
4. Adaptation and Resilience
❑ Adaptation and Resilience (A&R) was a key part of negotiations during COP29,
however the agreed NCQG does not explicitly outline Adaptation financing
requirements, despite urgent needs.
❑ There was progress made on greater levels of financing for the Loss and
Damage Fund, a focus on strengthening Early Warning Systems,
❑ Work on clear indicators for tracking Adaptation progress as part of the Global
Goal on Adaptation (GGA) progressed well
 Other outcomes from COP 29
Reviewed the implementation of ACE, which operationalizes Article 6 of the Convention and Article 12 of the Paris Agreement.
Action for Climate No decision from ACE negotiations
Empowerment (ACE) the overarching agreements at COP29 emphasize the importance of inclusive climate action.
The COP29 Presidency's "Action Agenda" emphasized initiatives to accelerate climate action, implicitly supporting ACE principles.

Discussions focused on restructuring climate finance to support smallholder farmers and their organizations in adapting to climate change.
Reports indicated that only 14% of global public climate finance for agriculture reached small-scale farmers, highlighting the need for more
Agriculture effective support mechanisms.
Initiatives such as Brazil’s National Programme for Productive Forests and the Baku Harmoniya Climate Initiative for Farmers were
introduced, though they lacked substantial new funding commitments.

Discussions focused on equitable transition pathways related to the climate crisis, including socio-economic factors and workforce issues.
Just Transition The outcomes aimed to balance environmental objectives with social equity, ensuring that workers and communities dependent on high-
carbon industries are supported during the transition.

Mitigation Work Negotiations focused on actionable solutions, particularly in urban systems and building sectors.
Programme (MWP) Parties decided on the framework for future dialogues and encouraged voluntary initiatives, considering different national circumstances.

Discussions focused on the importance of gender-responsive finance and the need for gender equity in climate initiatives.
Gender
No specific decisions or outcomes was agreed.
 What did COP29 Failed to Achieve?/
The Missed Opportunities
1. Missing momentum on fossil fuels transition and COP28 energy pledges
❑ Despite Brazil's Group of 20 statement referencing the United Arab Emirates consensus and
boosting mid-conference negotiations, Baku was polarized about the global commitment to
transition away from fossil fuels and move forward on the COP28 energy targets.
❑ Regrettably, the final outcome did not make explicit reference to the “transitioning away from
fossil fuels.”
❑ Nations failed to agree on binding commitments to phase out fossil fuel subsidies. This issue
remains one of the most significant barriers to decarbonization, as subsidies distort energy
markets and slow the adoption of cleaner alternatives.
❑ Establishing clear timelines and mechanisms for subsidy elimination will be critical in 2025 to
align energy markets with global decarbonization goals.
 The Missed Opportunities

2. Scaling climate finance

❑ COP29 presented a great opportunity for countries to have dealt with the persistent climate
finance gap boldly to address the global temperature under the Paris Agreement but this
opportunity was blown away
❑Besides the agreement on the new collective quantified goal on climate finance, the
mechanisms for scaling and disbursing funds remain unclear, particularly for attracting private
sector capital.
❑ The challenge of ensuring financial commitments translate into a project pipeline and real
action on the ground persists, particularly for developing nations.
❑Without addressing these gaps, the momentum from COP29 risks losing steam before
COP30.
 The Missed Opportunities
3. Linking climate and nature
❑ At COP28 in Dubai, nature was a clear winner as negotiations and outcomes
referenced the importance of biodiversity and nature-based solutions for
mitigation and adaptation.
❑ During this year’s proceedings, nature was less prominent, leaving it to
COP30 to ramp up momentum and link biodiversity pathways with climate
action.
 KEY ENABLERS FOR TRANSLATING CLIMATE NEGOTIATION
DECISIONS INTO LOCAL ACTIONS

Means of
Finance Capacity Technology Implementation
or Support

What are the

What are the climate What are the available
financing gap and capacity technologies that
how does that affect opportunities and could support
you here in Northern gaps? implementation here
Ghana? in Ghana?
To drive home both mitigation and adaptation actions on the ground we need finance, capacity and
technology
 KEY CONCLUDING POINTS

1. Ghana was ably represented but there was a very low high-level
representation probably due to the December elections
2. Youth representation was encouraging
3. Finance expectation was disappointing for developing countries
but sets a foundation to build on.
THANK YOU