Climate Change

Climate finance for adaptation at crossroads at COP29

Developed and developing countries remain divided over implementation issues as finance goals take centre stage

DTE Staff

The core negotiations on adaptation at 29th Conference of Parties (COP29) to the United Nations Framework Convention on Climate Change in Baku, including discussions on the Global Goal on Adaptation (GGA) and National Adaptation Plans (NAPs), have largely been procedural, yet even these have faced contention and slow progress.

A key point of dispute in the GGA text has been the inclusion of language concerning means of implementation, which encompasses finance, technology transfer, and capacity building from developed to developing countries.

Parties appear to be waiting for the conclusion of negotiations on the New Collective Quantified Goal (NCQG), particularly the determination of a finance target, before advancing discussions on other agenda items, such as those related to adaptation.

The NCQG is expected not only to set an overarching annual finance target for transfers from developed to developing countries but also to establish specific sub-targets for adaptation and loss and damage.

Despite the slow progress in procedural negotiations, there have been some notable developments on adaptation on the sidelines of COP29. These include the recognition of the expansion of the weather observational network, increased financing for efficient early warning systems under the United Nations Secretary-General’s Early Warnings for All initiative, the launch of the 2024 Adaptation Committee report, and the introduction of a portal to track adaptation actions by various countries.