The article discusses that people aren't going to CoP29 because, 'many see this [CoP as] one focused on a fight between the rich countries and poor countries. Well, no shit Sherlock! ____ From the article: Trump plans a US exit from the 2016 Paris Agreement that sets the COP’s objectives, including the goal of keeping global warming to 1.5 degrees. He may even seek to withdraw the US from the 1992 treaty that governs the whole international climate co-operation process. “There is a large shadow looming over COP29 following the US election. What is supposed to be the Finance COP just lost a major financier, leaving a gap too big for others to backfill,” said Richie Merzian, a former Australian government COP negotiator who now heads the Clean Energy Investor Group. Even before this seismic shift in the US, a host of other world leaders had already decided to skip the summit this year. The absentees will include France’s Emmanuel Macron, Germany’s Olaf Scholz, Canada’s Justin Trudeau, the European Union’s Ursula von der Leyen, India’s Narendra Modi, China’s Xi Jinping, and the potential hosts of the next two summits: Brazilian President Luiz Inacio Lula da Silva and Prime Minister Anthony Albanese. And many of the big-hitting global corporate executives who have made a habit of attending the COP, at least since Glasgow three years ago, are also skipping the summit in Baku – even though the overarching theme is financial. As the Financial Times recently reported, many execs see this [CoP as] one focused mostly on a government-to-government fight between the rich countries and poor countries. ___ As with the biodiversity CoP 16 and the lack of progress towards its 2030 targets, the climate CoPs have clearly become useless in their current format, reflecting the fact that no government anywhere has taken the necessary steps to achieve the Paris target. https://lnkd.in/gsJ69U-2
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Journalist | Writing about the intersection between economy, climate and innovation | For news and leaks, DM and I'll reach out
World is gathering at Cop29, starting tomorrow in Baku , Azerbaijan. The World Leaders Summit is scheduled on Tuesday. What to expect ? This will be the conference of finance, the goal is to reach consensus over a 1 trillion goal (x 10 versus the last, 100 B, dated 2009). Like every time here, this is the moment for being open. Good things have already happened unexpectedly in the past. US elections will have a negative impact , but can even relaunch multateralism: the world doesn't end with Washington, and Europe with China can still play a role in addressing climate issues. Maybe for Bruxelles time has come to grow up, independent from the American umbrella, and not only on climate. Follow me here, on @wireditalia and Rsi radio for updates and breaking news till the end , nov 22nd. And please get in touch for comments , leaks and perspectives. #cop29 #baku #climatechange
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A week out from COP29 in Baku, there's lots to talk about. Myself and Charlie Morrow are covering the conversations for Cognito so you don't have to. Drop me a note if you want to receive our newsletters pre, during and post conference. This week's headlines: All eyes were on Trump's decisive re-election to the White House. This raised questions about the implications on global climate transition efforts and the nature of the conversations at COP. A Republican win will inevitably lead to a US retreat from international climate diplomacy and backpedalling on policies. Sentiment is split between pessimism over potential setbacks in climate progress in the coming years and optimism that collaboration can drive continued efforts toward sustainable targets Beyond the US...the UK's recent budget statement showed a lacklustre commitment to climate action. Disappointment felt at COP16 in Columbia last weekend, which ended in “disarray and indecision.” Meanwhile deadly floods in Spain further demonstrate the pressing need for action and investment at COP29. A senior official in Azerbaijan's COP29 team reportedly used his role to facilitate further fossil fuel investment, deepening host country concerns this week. Former UN individuals have called this "completely unacceptable." Ursula von der Leyen, the European Commission president, Emmanuel Macron, Joe Biden, and other influential officials announced their decision to miss COP29. This adds to the list of big names who won't be present. Despite these headwinds, there is hope. These developments have created a renewed urgency to reach significant agreements during negotiations in Azerbaijan. As Christiana Figueres put it this week..."The result from this election will be seen as a major blow to global climate action, but it cannot and will not halt the changes underway to decarbonise the economy and meet the goals of the Paris Agreement” #COP #COP29 #ClimateCommunications #ESG #ClimateFinance #Sustainability #TransitionFinance #Communications
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General Manager at IAVVB | Sustainability & GHG Reduction Strategist | Expert in Standards Development & Carbon Management | Independent Consultant
🌍 Ongoing COP29 Qurultay Discussions: A Global Call for Stronger Climate Commitments The open-ended Qurultay, convened by the COP29 Presidency in Baku continues to be a heated platform for global dialogue. While the draft text has drawn criticism from many countries, the concerns raised go beyond the specific examples mentioned here. These views reflect widespread dissatisfaction among nations with different priorities and needs. 💸 Financial Support and Equity Panama: Urged clear financial figures for adaptation, emphasizing that developing countries shouldn't be indebted for climate damage. Senegal: Advocated for $1.3 trillion/year in public provisions linked to the pricing of carbon credits. China: stressed the need for defined NCQG amounts, with developed countries taking the lead 🏗️ Adaptation and Loss & Damage Indonesia: Stressed the need for a standing global adaptation goal alongside public finance Gambia & Ethiopia: Called for clearer financing mechanisms to fully support adaptation activities. 🔄 Transition and Mitigation Marshall Islands: Urging for a transition away from fossil fuels and an end to fossil fuel subsidies. Canada: Highlighting the lack of ambition in mitigation targets and stressed the need to prioritize vulnerable populations. ⚖️ Just Transition and Inclusivity Zimbabwe: Criticized the limited scope of “just transition” in the draft text. Iran & Israel: Called for alignment with previous COP mandates and outcomes. 🔍 Transparency and Accountability Suriname & China: Advocated for clear reporting mechanisms to ensure transparency of financial flows and contributions. These comments reflect only part of the extensive input provided. Many other countries, including those not listed here, share similar frustrations with the current text, underscoring the shared global need for stronger commitments. Discussions in Baku are ongoing, and it remains crucial that the final text reflects the urgency of the climate crisis. 💡 How can these diverse perspectives be integrated to achieve meaningful progress at COP29? #COP29 #ClimateAction #ClimateFinance #Sustainability #GlobalGoals
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TN Diplomat 🇹🇳 with a passion of Intel Analysis, Peacebuilding and MENA Politics | MA in Democratic Governance & Human Rights with a focus on SSG/R | Dedicated to DVE/CVE.
🌍 𝑪𝑶𝑷𝟐𝟗 𝑩𝒆𝒈𝒊𝒏𝒔 𝑻𝒐𝒅𝒂𝒚: 𝑨 𝑵𝒆𝒘 𝑺𝒕𝒆𝒑 𝑭𝒐𝒓𝒘𝒂𝒓𝒅 𝒊𝒏 𝑮𝒍𝒐𝒃𝒂𝒍 𝑪𝒍𝒊𝒎𝒂𝒕𝒆 𝑨𝒄𝒕𝒊𝒐𝒏: Today, the COP29 climate summit launches in Baku, Azerbaijan, bringing together nations with a renewed commitment to tackle urgent climate issues. With China introducing a new climate envoy, the EU boosting its focus on climate finance, and the United States participating amidst a transition, the summit is poised to advance both leadership and funding. Key highlights: China: Appoints a fresh climate diplomat, signaling continued support for developing countries. United States: Engages through Biden administration representatives, though future participation remains uncertain due to potential political shifts. European Union: Commits $28.6 billion to climate action, exploring its role amid internal budget discussions. The "Troika" (COP28, COP29, COP30 hosts): Coordinates closely to drive continuity and progress in climate talks. Top priorities include increasing climate finance, reducing fossil fuel reliance, and bolstering adaptation for vulnerable nations. Fast-developing and low-income countries, bearing the most severe climate impacts, are at the forefront of discussions. African nations are advocating for more financial support, while an alliance of small island states calls for decisive fossil fuel reductions. COP29 underscores the urgent need for collective responsibility. As the world’s leaders and climate advocates gather, COP29 represents an opportunity to drive substantial progress and move toward a resilient global future. #COP29 #ClimateAction #Sustainability #GlobalClimate
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R&D Leader @ V-Guard I Ex - Orient Electric I Lean Six Sigma Black Belt I Post Graduate - Operations Management
**Disappointing Outcomes from COP29: Developing Nations Face Challenges** The 29th Climate Summit (COP29) in Baku, Azerbaijan, attended by representatives from nearly 200 countries, fell short of expectations. Developing nations, who hoped for stronger financial commitments to combat climate change, expressed frustration over the limited progress. In past years, the annual Conferences of the Parties (COP) have struggled to make meaningful advances, particularly in climate finance. A key aspect of the 2015 Paris Agreement was the establishment of the New Collective Quantified Goal (NCQG) to provide financial support to developing countries by 2025. These countries requested $1.3 trillion per year to build infrastructure for tackling climate change. However, developed nations have only agreed to $300 billion annually by 2035, far below the demand. Although COP29 agreed to create a roadmap for achieving the $1.3 trillion goal, significant issues remain. The final "Presidency Text" called on all nations, including developing countries, to voluntarily contribute. This weakens the legal obligation of developed nations to provide support, as outlined in earlier agreements like the Kyoto Protocol. Developing nations, including India, criticized this approach, stating that it undermines the principle of "historical responsibility" that holds industrialized nations accountable for their contributions to climate change. With leaders like Donald Trump showing reluctance to engage in climate agreements, the future of global climate action appears uncertain. To prepare for this reality, developing countries must focus on self-reliance and innovative strategies to combat climate change. Strong statements and expressions of dissatisfaction will not be enough to address the challenges ahead. **Key Takeaways:** 1. Developed nations committed only $300 billion annually by 2035, far below the $1.3 trillion demand. 2. Voluntary contributions are encouraged, weakening the obligations of wealthier countries. 3. Developing nations must explore independent solutions alongside financial demands. #ClimateChange #COP29 #ClimateFinance #DevelopingNations #Sustainability #GlobalAction #EnvironmentalResponsibility
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Hello from Azerbaijan’s capital of Baku, where the UN’s COP29 climate summit has just kicked off. For months, some have been talking about this as a “placeholder COP”, before the big event of COP30 next year in Brazil. That’s about right — if you see these conferences as a green-hued version of Davos, a vast networking event with lots of business celebrities in attendance. The turnout of corporate executives will clearly be much lower than at last year’s huge, slickly managed extravaganza in Dubai. But the actual negotiations in Baku will make this one of the most important, and fiercely contested, UN summits to date, with a heavy focus on international climate finance. Today's FT Moral Money newsletter: https://lnkd.in/e25p3RtM
COP29: Negotiators dig in for fierce climate cash struggle
ft.com
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Promoting technologies in power sector that help deliver reliable, sustainable and affordable electricity | Ex Siemens | Ex Alstom | Ex Schneider | Ex Secure Meters l PEC Chandigarh | IIMC
An interesting tug of war!! Recent political developments and compulsions of domestic politics should have constrained developed nations from receding much ground, but it would be more interesting to watch how would it impact, while optics may not show much, the on-ground energy transition pace in EMDE!! #COP29 #energytransition #climatefinance
‘This is an insult,’ Developing nations rage over COP29’s $300 billion climate deal
wionews.com
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When climate change conferences fail to achieve their lofty goals, they become an agent of further world destruction. One of the goals of these conferences is to help poor and developing countries! This sentence should be called the joke of the century. Because according to the new scientific theory of the natural suffocation cycle of the earth, rich and developed countries will turn into deserts before poor countries!An important thing is that based on this new scientific theory, not even a single scientific sentence related to the main and basic factors of climate change and global warming is raised in these conferences. https://lnkd.in/dgbaCyjp https://lnkd.in/dvjbubXr #NewScientificTheoryOfTheEarthNaturalSuffocationCycle #BehavioralPhysicsofNaturalColloidalParticles #StateOfWater #CAMS #ECMWF #CAMS #methane #CH4 #StateOfClimate #EarlyWarningsForAll #ClimateAction #COP29 #CopernicusEmergency #NorthernHemisphere #Arctic #globalwarming #climatechange #airquality #methanebudget #NOA #AtmoHub #EAC4 #heatwave #extremeheat #StateOfClimate #wildfires #netzero #climatechange #CO2 #wildfire #airquality #FBF2024 #geology #geologist #geologyrocks #geophysicist #energytransition #climatescience #earthscience #earthsciences #sciencecommunication #scienceeducation #meteorology #atmosphere #atmospheric #earthscience #earthobservation #physics #geophysics #dataanalytics #scienceexploration #politics #physics #aerosol #atmospher #airpollution #InternationalDayofCombatingSandandDustStorms #Copernicus #climatechangeadaptation #WHO #IPCC #UNClimateChange #NOAA #Cop10 #AirPollution #Air #AirReport #NASA #COP28 #IAEA #EPA #EPA #WMO #ipccreport #globalwarming #climatecrisis #COP26 #temperature #unavoidableopportunity #climateresilience #ActOnClimate #wildfires #oceans #globalwarming #technology #netzero #scenarios #ClimateAction #sciencenews #scienceeducation #sciencecommunication #abpoli #cdnpoli #anthropocene #InternationalDayofCombatingSandandDustStorms #CopernicusAtmosphere #SaharanDust #Klimawandel #EarthJournalismNetwork #Internews #Häring #Geldundmehr #Wetterbericht #Klimaskeptiker #EuropeanClimateFoundation
Aligning financial flows with a low carbon, climate resilient future | Views expressed here are my own
Negotiators at the UN climate summit need to find trillions of dollars — and they’re increasingly turning to private capital, rather than governments, writes Natasha White. Over the next two weeks, nearly 200 countries participating in United Nations climate talks in #Azerbaijan will negotiate a new, possibly multi-trillion-dollar annual finance goal to help the world’s poorest economies decarbonize and adapt to rising temperatures. But even though nations are doing the talking, much of the money isn’t going to be coming from governments. Developed countries, feeling cash-strapped these days, are already telegraphing at the start of the #COP29 summit that a large part of any finance promised through these negotiations will need to come from sources out of their direct control. That includes the private sector through loans and other “innovative” finance structures. The complicated and costly proposal to deploy more private finance is already being opposed by highly indebted developing nations, which are pushing for a narrower goal that places emphasis on delivering publicly financed grants. The strategy also raises a fundamental question: How can nations commit third parties, which aren’t a part of the UN process, to mobilize hundreds of billions of dollars? The answer will be crucial in determining the credibility of any new pledge made in #Baku this year. In the diplomatic jargon of COP29, the main focus for the summit is to agree on a New Collective Quantified Goal on #climatefinance, which will replace a previous goal that promised $100 billion per year from rich nations to the developing world by 2020. Already there is distrust in the process. Developed countries came through two years late on their initial commitment, and some dispute whether the $100 billion per year milestone has in fact been met. Countries at this summit will be negotiating a much larger goal — currently placed at up to roughly $2 trillion per year.
Countries Are Pledging Money They Don’t Control at COP29
bloomberg.com
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🌍 COP29 reminds us of a fundamental principle: the success of ecological transition relies on a new alliance between private and public sectors. The climate finance question at #COP29 highlights a crucial challenge: how to mobilize up to $2 trillion annually for ecological transition? The answer lies in a virtuous cycle: 1️⃣ Private sector kickstart is essential: bringing the agility and innovation capacity needed to initiate projects. 2️⃣ Public support then steps in to consolidate and sustain these initiatives, ensuring their long-term impact. The real challenge? Rebuilding trust between these two worlds. Developing countries, already heavily indebted, express legitimate concerns about this model. 💭 "Sustainable Value Distribution (SVD) was designed precisely for this purpose - to create a bridge between private initiative and public redistribution. It's not just about financing; it's about ensuring that initial private investments catalyze long-term public benefits, creating a self-sustaining cycle of ecological and social progress." 💡 The solution? A new trust pact where: - Private sector commits to concrete, measurable objectives - Public sector ensures a stable and fair framework - Innovative financing mechanisms are adapted to local realities Rebuilding this trust is key to creating a true redistribution economy, capable of addressing climate challenges while ensuring equitable development. It's time to move beyond the traditional public-private divide and embrace a new model of collaborative climate finance. The future of our planet depends on it. #ClimateFinance #EcologicalTransition #Sustainability #COP29 #FinancialInnovation #PublicPrivatePartnership #SVD
Aligning financial flows with a low carbon, climate resilient future | Views expressed here are my own
Negotiators at the UN climate summit need to find trillions of dollars — and they’re increasingly turning to private capital, rather than governments, writes Natasha White. Over the next two weeks, nearly 200 countries participating in United Nations climate talks in #Azerbaijan will negotiate a new, possibly multi-trillion-dollar annual finance goal to help the world’s poorest economies decarbonize and adapt to rising temperatures. But even though nations are doing the talking, much of the money isn’t going to be coming from governments. Developed countries, feeling cash-strapped these days, are already telegraphing at the start of the #COP29 summit that a large part of any finance promised through these negotiations will need to come from sources out of their direct control. That includes the private sector through loans and other “innovative” finance structures. The complicated and costly proposal to deploy more private finance is already being opposed by highly indebted developing nations, which are pushing for a narrower goal that places emphasis on delivering publicly financed grants. The strategy also raises a fundamental question: How can nations commit third parties, which aren’t a part of the UN process, to mobilize hundreds of billions of dollars? The answer will be crucial in determining the credibility of any new pledge made in #Baku this year. In the diplomatic jargon of COP29, the main focus for the summit is to agree on a New Collective Quantified Goal on #climatefinance, which will replace a previous goal that promised $100 billion per year from rich nations to the developing world by 2020. Already there is distrust in the process. Developed countries came through two years late on their initial commitment, and some dispute whether the $100 billion per year milestone has in fact been met. Countries at this summit will be negotiating a much larger goal — currently placed at up to roughly $2 trillion per year.
Countries Are Pledging Money They Don’t Control at COP29
bloomberg.com
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🌍 Insights from COP29 It’s Day 5 of COP29 in Baku, and the EIT Climate-KIC delegation is participating and listening to critical discussions on climate finance, just transition, innovation, and adaptation. Negotiations are heating up, with recent events sparking both urgency and concern. One of the primary goals for countries at COP29 is to work towards a New Collective Quantified Goal (NCQG). This could be transformative for developing nations, as Megan Rowling explained in our latest podcast episode. However, the negotiations are not progressing rapidly. At the same time, Argentina has withdrawn from the talks - a move that, combined with recent developments in the U.S., intensifies observers' concerns that it could destabilise the Paris Agreement. Meanwhile, tensions escalated as Azerbaijani President Aliyev accused France and the Netherlands of “neocolonial” environmental harm, sparking a diplomatic clash and prompting France’s top climate diplomat to cancel their attendance. Here are a few powerful insights from COP29 from Megan Rowling (Climate Home News), Kirsten Dunlop and Neil Walmsley (EIT Climate-KIC), Hindou Oumarou Ibrahim (Coordinator of the Association of Peul Women and Autochthonous Peoples of Chad) and Juan Carlos Jintiach (Global Alliance of Territorial Communities (AGCT)) . For more updates, sign up to our COP29 newsletter: https://lnkd.in/eDwGhjcg #COP29 #Baku #ClimateAction #SystemsChangeNow
