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The 29th Conference of Parties (COP29) to the United Nations Framework Convention on Climate Change in Baku, Azerbaijan, began November 11, 2024. Here’s a look at what happened on the third day of COP29. Also read the diary for November 11, November 12, November 14, November 15, November 16, November 18, November 19, November 20 and November 21.
Article 6.2 - An informal consultation on Article 6.2, which allows countries to exchange emissions reductions and removals through bilateral agreements, was recently held by the Subsidiary Body for Scientific and Technological Advice, a technical body of the UN climate negotiations. This session saw discussions on several key elements. These include first transfer (covers initial transfer of carbon credits, or ITMOs, from one country to another to track these emissions reductions accurately), agreed electronic format (a standardised digital format to make sure all countries report and track their carbon market transactions consistently for transparency), sequencing (setting the order and timing for countries to report and record their actions during transferring or accounting for emission reductions), reporting of inconsistencies (provisions for reporting and addressing any inconsistencies in data or reporting).
Article 6.4 - Discussion began with the Coalition for Rainforest Nations (CfRN) giving a scathing criticism of the Supervisory Body’s (a technical body tasked with creating rules and overseeing the carbon market under UN) adoption of recommendations on rules for methodologies (for calculating emissions reductions) and removals (processes that remove greenhouse gases from the atmosphere through anthropogenic activities and durably store in geological, terrestrial, or ocean reservoirs, or in products) as standards — setting a ‘horrible precedent’, after Parties rejected their recommendations at COP27 and COP28. Read more here. Article 6.4 establishes a new UN mechanism for the validation, verification and issuance of high-quality carbon credits.
The Conference of the Parties — serving as the meeting of the Parties to the Paris Agreement — discussed matters related to the operationalisation of the 6.4 mechanism, inputs on methodologies and removal standards, how they can contribute to the adaptation fund, including an exception for the Least Developed Countries (LDC). The LDCs highlighted the need for special treatment in the share of proceeds for adaptation fund, sharing concerns that LDCs and Small Island Developing States might end up as net contributors if their circumstances are not acknowledged.
Several parties, including the European Union, Alliance of Small Island States, Independent Alliance of Latin America and the Caribbean, raised points on the need for scientific expertise to support the Article 6.4 mechanism's development and operationalisation
Article 6.8 - Parties made submissions at two different meetings to discuss the next draft text on Article 6.8, which gives opportunities for countries to cooperate on non-market-based mechanism to implement mitigation and adaptation actions. It was released in the early hours of November 13. Parties discussed activities undertaken by the Glasgow Committee on Non-market approaches (GCNMA), which was established at COP26 to implement the framework and the work programme to implement mitigation and adaptation actions in their Nationally Determined Contributions (NDCs). Several countries preferred focussing on current work areas rather than expanding them to other areas going ahead. CfRN, particularly raised on the mention of ‘Mother Earth Centric Actions’ and its meaning, a concept imported from the Convention on Biological Diversity discussions, signed by 150 government leaders at the 1992 Rio Earth Summit. Several parties asked for more explanation on the need for the “quantitative assessment” of the GCNMA, which was proposed in the draft text to evaluate whether the work programme has supported developing countries in integrating non-market approaches into their NDCs. Countries also suggested strengthening the non-market Approaches platform and addressing barriers.
Parties met in the evening to discuss the draft negotiating text shared by co-chairs of the ad hoc work programme on New Collective Quantified Goal on Climate Finance (NCQG) earlier in the day. The new text was presented after the G77 and China rejected the draft framework for a negotiating text on November 12. The new text, presenting many more options for different elements of the goal including structure, and highlighting the developing country ask for $1.3 trillion a year until 2030, was accepted by G77 and China. The group asked for streamlining of the text and reducing repetitions, but no additions or removal of any of the options; the call for streamlining found broad agreement. A new iteration of the text has been released as of the evening of November 13. This is to be discussed from November 14 onwards.
The Argentinian delegation was directed to leave the COP29 proceedings by their Ministry of Foreign Affairs, according to The Guardian. The move comes under the presidency of Javier Milei, a known climate-denier. The delegation is expected to exit Baku and no longer participate in this year’s COP.
In 2024, preliminary estimates suggest that total anthropogenic emissions from fossil fuels and land use, land-use change, and forestry will reach 11.3 gigatonnes of carbon per year (GtC yr⁻¹), according to the Global Carbon Budget, a team that track trends in global carbon emissions and sinks and is a key measure of progress towards the goals of the Paris Agreement.
Fossil fuel CO2 emissions are expected to reach a record high, showing an increase by 0.8 per cent from 2023 levels. Natural gas showed the highest growth rate of 2.4 per cent, compared to coal and oil. Emissions from land use change were also slightly higher than 2023.
On November 13, Brazil announced their NDCs where they set an economy-wide target of reducing their greenhouse gas emissions (GHG) by 59-67 per cent by 2035, as compared to their 2005 levels. In absolute terms, it means that there will be emission reductions between 0.85 and 1.05 billion tonnes of CO2 equivalent in 2035.
At a presidency event co-headed by the International Atomic Energy Agency, the United States of America, and World Nuclear Association, six countries have joined the declaration on tripling nuclear energy by 2050. The declaration on tripling nuclear energy capacity was signed at COP28 Dubai. Initial signatories included the US, UAE, France and UK among others. Kazakhstan, Kenya, Kosovo, El Salvador, Nigeria and Turkiye joined the declaration on the third day at COP29 Baku, bringing the total to 31. The US administration issued a roadmap envisaging plans for deployment of 200 GW nuclear capacity by 2050.