The COP29 summit in Baku, Azerbaijan, from November 11–22, 2024, gathered global leaders and stakeholders to address pressing climate challenges under the theme “Investing in a Livable Planet for All.” Building on the momentum from COP28, which highlighted the need to triple renewable energy capacity and transition away from fossil fuels by 2030, COP29 aimed to solidify actionable strategies for mitigation, adaptation, and financing. Azerbaijan, hosting the event despite its economy’s reliance on fossil fuels, became a focal point of both optimism and criticism, reflecting broader tensions in the global climate discourse
Importance in the Context of Climate Efforts
COP29 underscored the urgency of meeting the 1.5°C global warming target and strengthening climate actions. However, disagreements on financial responsibilities, energy transition, and the role of fossil fuels revealed fractures in the global response to climate change.
At the heart of the summit’s agenda, negotiators grappled with critical issues such as mobilizing climate finance, achieving an equitable energy transition, and advancing adaptation measures. Developed countries pushed for ambitious goals, such as increasing energy storage and grid infrastructure, while fossil fuel-dependent nations, led by Saudi Arabia, resisted language targeting fossil fuels in key agreements. These clashes hindered consensus, delaying significant discussions to COP30. Meanwhile, developing nations and vulnerable groups, including African countries and small islands, demanded greater financial support to adapt to climate impacts and ensure a fair transition to renewable energy.
This mix of ambition and conflict illustrated both the urgency of global climate efforts and the challenges of achieving unified action. While COP29 produced steps like the Baku Adaptation Road Map, its inability to finalize agreements on energy transition and just transition programs exposed persistent divides. As the world looks to COP30 in Brazil at Amazon rainforest city of Belém, the need for stronger cooperation and commitment has never been more critical to achieving the goals of the Paris Agreement.
Historical Background
The fight against climate change as a unified global effort began in 1992 at the Earth Summit in Rio de Janeiro, where the United Nations Framework Convention on Climate Change (UNFCCC) was adopted. Recognizing the urgent need to address the rising threat of global warming, this landmark treaty laid the foundation for international cooperation in climate action. Coming into force in 1994, the UNFCCC aimed to stabilize greenhouse gas (GHG) concentrations in the atmosphere at a level that would prevent dangerous interference with the Earth’s climate system.
The Convention outlined two primary objectives:
- Mitigation: To stabilize GHG emissions and reduce the pace of climate change.
- Adaptation: To support communities, especially vulnerable ones, in coping with the unavoidable impacts of climate change.
Under this framework, nations became “Parties to the Convention,” pledging to meet regularly, share information, and work toward legally binding agreements to mitigate and adapt to climate change. These gatherings would become known as the Conference of the Parties (COP).
The Evolution of COP: From Berlin to the World Stage
The first-ever COP meeting was convened in Berlin, Germany, in 1995. It marked the beginning of an annual tradition where nations, climate experts, activists, and business leaders would come together to discuss policies and strategies for tackling climate change. Over the years, COP has evolved into the world’s largest climate conference, symbolizing the collective efforts of humanity to protect the planet.
The COP summits serve as the supreme decision-making body of the UNFCCC, where critical decisions are made to advance climate action. These conferences are not just negotiation tables but also platforms for sharing innovative solutions, building partnerships, and amplifying the voices of those most affected by climate change.
The Goals and Milestones of COP
At its core, COP is driven by a singular mission: to secure a sustainable and equitable future by addressing climate change. Its objectives include:
- Reducing global GHG emissions to mitigate global warming.
- Enhancing support for climate adaptation in vulnerable regions.
- Establishing frameworks for climate finance to support developing nations.
- Encouraging the adoption of clean technologies and renewable energy solutions.
Milestones such as the Kyoto Protocol (COP3, 1997) and the Paris Agreement (COP21, 2015) have emerged from these summits, each representing significant leaps in global climate diplomacy. The Kyoto Protocol introduced binding targets for industrialized nations, while the Paris Agreement united countries with a collective goal to limit global temperature rise to well below 2°C.
A Forum of Stakeholders and Synergies
Each COP gathering is a melting pot of diverse perspectives. Government negotiators work alongside scientists, civil society representatives, business leaders, and activists to craft policies that balance environmental, economic, and social imperatives. This inclusive approach ensures that the interests of both developed and developing nations are represented, though achieving consensus often requires overcoming stark disagreements.
The annual COP summits are not merely procedural; they serve as reminders of the shared responsibility to combat climate change. They represent a continuous journey toward progress, resilience, and hope—a narrative of humanity’s determination to safeguard the planet for future generations.
Key Discussions and Agreement
In the early hours of November 24, 2024, the COP29 summit in Baku concluded with an agreement that simultaneously inspired cautious optimism and sharp criticism. Governments, activists, and organizations from across the globe had gathered to address the urgent challenges of climate change, but the outcomes revealed both progress and lingering divides.
A Pledge for Climate Finance: A Half-Filled Glass
At the heart of COP29’s discussions was the question of climate finance. Richer nations committed to providing $300 billion annually by 2035 to assist poorer countries in transitioning to greener economies and preparing for the escalating impacts of climate change. The funds aim to support investments in renewable energy and initiatives to move away from fossil fuels.
However, the agreement fell far short of the $1.3 trillion per year demanded by developing nations. Leaders from Africa and India expressed profound disappointment (with India dismissed the money as “a paltry sum”), describing the pledge as insufficient to meet the scale of the crisis. The head of the UN climate body, Simon Stiell, acknowledged these concerns, noting that while the deal represented progress, it left a daunting “mountain of work” ahead.
To address this gap, negotiators included a provision to raise $1.3 trillion annually through both public and private channels by 2035. This hybrid funding model marks an attempt to bridge the financing shortfall, but doubts linger over its feasibility and the commitment of key stakeholders.
Renewed Focus on Adaptation
In a notable shift, COP29 tripled the allocation of funds for adaptation, a historically underfunded area. Previously, only 40% of climate finance had been directed toward helping vulnerable nations adapt to climate impacts such as rising sea levels, extreme weather, and desertification. The new commitment aims to rectify this imbalance, offering hope to communities on the front lines of climate change.
Despite this positive step, critics like Jasper Inventor of Greenpeace lambasted the agreement as “woefully inadequate,” arguing that it fails to confront the underlying drivers of the climate crisis. His comments highlighted the dissatisfaction among many civil society groups, who viewed the outcomes as a betrayal of low-ambition governments safeguarding “reckless nature destroyers.”
The Shadow of Political Change
The summit’s opening was marked by the impending presidency of Donald Trump, who, set to take office in January, cast a long shadow over discussions. Experts warned that Trump’s administration was unlikely to contribute to climate finance, forcing other developed nations to shoulder the financial burden. “The other donors know they will have to make up the shortfall,” remarked Professor Joanna Depledge of Cambridge University.
Meanwhile, UK Prime Minister Keir Starmer positioned himself as a climate leader, committing to reduce UK emissions by 81% by 2035. While this ambitious goal earned praise, UK Energy Secretary Ed Miliband framed the conference as a business opportunity rather than a financial burden, emphasizing the role of British companies in global green investments.
Resistance from Fossil Fuel-Dependent Nations
Negotiations were fraught with resistance from countries heavily reliant on fossil fuel exports. Saudi Arabia’s Albara Tawfiq, representing the Arab Group, firmly opposed any text targeting fossil fuels, declaring, “The Arab Group will not accept any text that targets specific sectors.” This stance reflected the broader challenge of balancing economic interests with urgent climate goals.
Adding to the controversy was Azerbaijan’s position as host. The nation’s plans to expand gas production by a third in the next decade sparked criticism from climate activists and delegations. Swedish activist Greta Thunberg lambasted COP meetings as platforms for “greenwashing,” highlighting Azerbaijan’s human rights record and fossil fuel ambitions.
Frustration from Vulnerable Nations
The plight of vulnerable nations remained a poignant undercurrent throughout the summit. The Alliance of Small Island States, led by Cedric Schuster of Samoa, expressed dismay over the lack of meaningful progress. “We’ve just walked out. We came here for a fair deal. We feel that we haven’t been heard,” Schuster said, encapsulating the frustration of nations most at risk from rising sea levels and extreme weather.
Kenyan climate advocate Mohamed Adow echoed this sentiment, accusing wealthy nations of staging “a great escape in Baku,” sidestepping their responsibilities to the Global South.
A Breakthrough on Carbon Markets
Amid the discord, COP29 achieved a long-awaited breakthrough: the finalization of rules for a global carbon market under Article 6 of the Paris Agreement. The agreement promises a centralized UN trading system, enabling countries and companies to buy and sell carbon credits earned through verified green initiatives, such as reforestation projects.
This standardized system aims to enhance the credibility of carbon credits and promote international cooperation, potentially reducing the cost of implementing national climate plans by up to $250 billion annually. After a decade of stalled discussions, the decision marked a significant step toward achieving transparent and trusted carbon markets.
Climate Finance: An Ongoing Struggle
A recurring theme of COP29 was the contentious issue of climate finance. The commitment by wealthier nations to provide $300 billion annually by 2035 fell far short of the $1.3 trillion demanded by developing nations. While the pledge included provisions to mobilize funds from both public and private sources, critics argued that the burden of raising these resources was disproportionately placed on the developing world.
Despite the financial shortfall, the increased allocation for climate adaptation funding provided a glimmer of hope. Tripling resources for adaptation signals a growing acknowledgment of the urgent need to support vulnerable communities in preparing for climate impacts.
The Ripple Effects of COP29: Regional and Global Impacts
In oil and gas-dependent economies like Azerbaijan, the summit’s outcomes were met with both hope and criticism. Azerbaijan’s President Ilham Aliyev’s assertion that oil and gas are a “gift from God” underscored the economic reliance of nations in the region on fossil fuels. This sentiment, echoed by other fossil-fuel-exporting countries like Saudi Arabia, highlighted the inherent tension between their economic models and global climate goals. Critics argue that such positions undermine the spirit of the Paris Agreement, with activists like Greta Thunberg branding the COP process as increasingly a platform for “greenwashing.”
Meanwhile, developing nations in Asia and Africa were vocal about their dissatisfaction. India’s frustration over procedural mishandling during the adoption of the New Collective Quantified Goal (NCQG) on climate finance illustrated the ongoing marginalization of developing economies in climate negotiations. Leaders from Africa and island nations decried the financial commitments as inadequate, emphasizing that the $300 billion annual pledge fell far short of the $1.3 trillion required to combat climate impacts effectively.
For the Global South, particularly nations in Africa and the Pacific, the decision to triple adaptation finance was a step forward but not a victory. As these regions bear the brunt of rising sea levels, extreme weather events, and desertification, the inadequate scale of funding remains a stark reminder of the disproportionate burden they carry.
Global Implications: Bridging Promises and Actions
Globally, the finalization of rules for carbon markets under Article 6 of the Paris Agreement was hailed as a landmark achievement. The establishment of a centralized UN-regulated marketplace has the potential to channel significant investments into green projects in developing nations. However, critics argue that carbon trading could become a loophole for wealthier nations to delay their domestic decarbonization efforts by outsourcing emissions reductions.
The hybrid funding model introduced at COP29, which combines public and private contributions, seeks to address the financial gap. While this innovative approach offers a lifeline for mobilizing resources, its success hinges on the genuine commitment of both state and corporate actors. Critics warn of potential challenges in transparency and equity, particularly in ensuring that private investments prioritize the needs of vulnerable populations over profit margins.
Expert Opinions: Mixed Reactions
UNDP Administrator Achim Steiner described the outcomes of COP29 as “meaningful progress,” emphasizing that the agreement reaffirmed the global community’s commitment to the Paris Agreement. Yet, Steiner acknowledged that the pledged funds represent a “floor, not a ceiling,” reiterating the urgent need for a much larger financial effort.
Activists and civil society groups offered a harsher critique. Greenpeace’s Jasper Inventor labeled the agreements as “woefully inadequate,” accusing global leaders of safeguarding economic interests over environmental responsibility. The Kick the Big Polluters Out coalition revealed that over 1,700 individuals linked to fossil fuel interests attended the summit, raising questions about the influence of industry lobbyists on climate policy.
Developing nations, represented by leaders like Cedric Schuster of Samoa, expressed disillusionment. Schuster lamented the lack of substantive action to address the disproportionate impact of climate change on vulnerable countries. Kenyan climate advocate Mohamed Adow summed up the frustration: “This summit feels like a betrayal of promises made to the Global South.”
Challenges Ahead: Navigating a Fractured Path
The road ahead remains daunting. Wealthier nations face increasing scrutiny over their reluctance to meet historical obligations. The geopolitical landscape, strained by conflicts in Gaza and Ukraine and economic pressures in the West, threatens to divert attention and resources away from the climate crisis.
For developing nations, the challenge lies in leveraging the limited funds effectively while continuing to advocate for fairer terms in future negotiations. The reliance on voluntary contributions from countries like China, which remains classified as a “developing” nation despite its significant emissions, adds another layer of complexity.
The true test of COP29’s agreements will be their implementation. Carbon markets, while promising, must avoid becoming a tool for greenwashing. Similarly, adaptation funds must reach the communities most in need, rather than being lost in bureaucratic inefficiencies.
Conclusion: COP29 and the Path Ahead
The COP29 summit in Baku, Azerbaijan, underscored the complexity of the global climate effort, highlighting both progress and persistent challenges. While steps were taken toward securing future climate finance and finalizing mechanisms like carbon markets, significant divides remain between developed and developing nations. The pledge of $300 billion annually by 2035, although a step forward, falls far short of the $1.3 trillion required to meet the scale of the climate crisis. Additionally, fossil fuel-dependent nations, including host Azerbaijan, continued to resist aggressive language on transitioning away from fossil fuels, revealing the tension between economic interests and climate goals.
The tripling of adaptation finance is a positive outcome, but as climate impacts increasingly affect vulnerable regions, this funding will need to be efficiently mobilized to avoid being diluted by bureaucratic inefficiencies. Carbon markets, too, while a breakthrough, require careful monitoring to ensure they do not become tools for greenwashing.
The real test of COP29’s legacy will be its implementation. The hybrid funding model, combining public and private contributions, holds potential but also risks if private investments are not adequately directed to those most in need. The gap between pledges and actions remains a critical concern.
The Path Forward
Looking ahead to COP30 in Brazil, the global community must navigate a fractured path toward meaningful climate action. For wealthy nations, the call to meet historical obligations and increase financial commitments is growing louder, as developing countries and vulnerable populations demand a fairer share of the climate finance pie. The geopolitical landscape, influenced by global conflicts, economic pressures, and political changes, poses additional challenges in maintaining focus on the climate crisis.
For stakeholders—from governments to corporations to civil society—the time to act is now. Climate solutions must prioritize equity, ensuring that vulnerable communities, particularly in the Global South, are not left behind. Citizens, too, have a role in advocating for stronger climate policies, holding leaders accountable, and making sustainable choices in their daily lives.
The choices made today will shape the planet’s future for generations to come. COP29 has shown that while the path forward is fraught with challenges, it is not without hope. But this hope hinges on unwavering commitment, genuine cooperation, and the political will to put the planet’s well-being ahead of short-term economic interests. The world cannot afford to wait for COP30—it must act now.
