Subscribe
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 fourth day of COP29. Also read the diary for November 11, November 12, November 13, November 15, November 16, November 18, November 19, November 20 and November 21.
On Nov 14, the G77 and China prioritised synthesising the text over substantive discussions, a stance opposed by developed nations like Canada, the EU, and New Zealand. Some progress was made as the G77 and China agreed to informal discussions on transparency, access, and dis-enablers.
By the afternoon, talks moved to “informal informals,” which are closed to observers. Negotiators agreed to discuss select elements of the goal: transparency, access, dis-enablers of accessing finance and human rights — which already had some consensus. This approach risks delaying critical issues — such as the quantum and contributor base — to the second week, when time pressures will intensify.
An updated draft text was uploaded for the negotiations on the work programme under the framework for non-market approaches (NMA) referred to in Article 6.8. The discussions were on the scope of NMAs. Elements such as how to enable previous assessments and creating methodologies for analysing a successful non-market approach saw contrasting opinions between the developed and developing countries with suggestions of deletion of the concerned paragraphs by the former due to no prior discussions. The co-chair suspended the session and asked the parties to come up with specific recommendations to the text on bracketed paragraphs by the evening.
The proposed agenda item by BASIC countries on unilateral trade measures at the opening plenary of COP29 was referred for Presidency consultations. The COP29 Presidency announced that consultations on unilateral restrictive trade measures will begin on November 15, where Parties can provide their views.
An informal note was produced by the co-facilitators of the Sharm el-Sheikh mitigation ambition and implementation work programme (MWP) on November 14, highlighting initial reflections from Parties about the way forward. Further discussions will ensue on how to integrate the outcomes of the Global Stocktake within the MWP, and to what extent discussions from the two Global Dialogues this year will inform the political outcome at COP29.
The negotiations on the NAPs could not move forward on November 14 and Nabeel Munir, the chair of the Subsidiaries Bodies on Implementation (SBI), had to intervene. The G77 and China negotiating bloc agreed on a mandate for the co-chairs to produce a draft text with inclusion of references to the mandate of the developed countries to provide the means of implementation, including finance, to developing countries, the gap in adaptation finance and keeping the private sector out of providing adaptation finance. Some developed countries did not want the references to adaptation finance under NAPs.
A new report has estimated that emerging market and developing countries (EMDC) other than China require $2.3-2.5 trillion per year of investment in climate action by 2030. This could feed into negotiations on the new climate finance goal, NCQG, at COP29.
At a press conference, the EU expressed concern over the spirit of negotiations and that it was hard to see where the landing zone for a deal would be. Vernoika Bagi, the Head of Delegation of the EU stressed that nations have to agree on the quantum with extended group of contributors that includes developing countries that are capable of providing finance. There was also a focus on mobilising private finance to help parties meet their Nationally Determined Contributions and the trillion-dollar needs.
ESCAP along with International Atomic Energy Agency (IAEA), International Renewable Energy Agency (IRENA), UN Environment Programme Finance Initiative (UNEP FI) and UN Trade and Development (UNCTAD) organised this event on financing low carbon energy transition in Asia and the Pacific with the objective of how middle-income countries (MIC) in Asia and the Pacific can finance their low carbon energy transition that is aligned with their national circumstances and priorities. The event brought together speakers from MIC governments, private finance, public development banks and industry. The Speakers from Philippines and Indonesia put forward their ongoing initiatives on energy transition and also highlighted the issues they are facing.
At a COP29 side event, the European Bank for Reconstruction and Development (EBRD) and International Energy Agency (IEA) emphasised the need to accelerate energy efficiency in Africa as a critical component of the global net-zero strategy. The session underscored Africa’s unique opportunity to adopt modern, efficient infrastructure directly, but also highlighted pressing challenges, including outdated grid systems, inconsistent regulatory standards, funding limitations, and low public awareness. Recommendations focused on fostering strong public-private partnerships, implementing targeted investments, enhancing regulatory frameworks, and promoting consumer education to drive impactful, sustainable energy efficiency improvements across sectors.
The Industrial Transition Accelerator (ITA) issued an open letter to urge governments to increase green public procurement of low-carbon products in heavy emitting industries. The ITA was launched at COP28 Dubai hosted by the Mission Possible Partnership (MPP). Currently endorsed by 50 global business leaders and a network of more than 700 financial institutions, ITA’s open letter outlines that governments must urgently act to stimulate demand for low- and near zero-carbon materials. Data published by the ITA and the MPP reveals a growing pipeline of industrial projects globally — nearly 700 across aluminium, cement, chemicals, steel, aviation and shipping. However, less than 20 per cent are operational or have secured the finance and approvals necessary to begin construction. The more than 500 projects together are awaiting finance more than US$1 trillion. The open letter also lists down possible policy measures for countries.
The session focused on strategies for integrating hydrogen into a sustainable energy transition, highlighting the release of draft guidelines by UN organisations to support large-scale hydrogen projects aligned with Sustainable Development Goals (SDGs). These guidelines aim to streamline permitting, standardising ESG compliance, and addressing first-mover challenges. Key discussions also covered the environmental and social risks of hydrogen production, financial risk management, and the importance of policy support to stimulate demand for green hydrogen. The session concluded with a commitment to further develop these guidelines to ensure socially inclusive and sustainable hydrogen projects worldwide.