Offshore Energy Today’s Post

1,700 oil and gas lobbyists at COP29 - that is less than COP 28, where is was around 2500. Why are they there? You are not guessing. It is the main reason, why going to COP has become so expensive. I had my pass, but my travel tickets were atleast 3 times costly than a normal journey and hotels almost 4 times costly with no guarantee unless i shell out the full payment in non-refundable advance. Being in this space for more than 3 decades now, i have considered participating in COP as an important part of my learning and knowledge sharing. But not this time. I decided that i will protest with my absence. I do understand it is just my loss. Dubai had more people, but it was not fleecing like this time. COP will lose its purpose, if they do not apply eligibility criteria and ensure equitable representation. COP 29 has more lobbyists than observers from scientific community, indigenous communities or vulnarable nations. Is this what UNFCCC want? How can NGO's afford to attend COP and make their voice heard? COP29 Azerbaijan UNFCCC UN #lobbying #cop29 #bakucop #climatechange

*COP29: Day 2* Today, Yalchin Rafiyev, COP29 Lead Negotiator, briefed the media and highlighted the #COP29 Presidency’s plans for the days ahead. The session built on the outcomes of the first day and emphasized the unprecedented level of determination by Parties. He announced that a consensus has been reached on international carbon credits standards for Article 6.4 and the dynamic mechanism to update them. “A game changing tool to direct resources to the developing world and help save up to 250 billion dollars per year when implementing climate plans” Ultimate objective is to accelerate action on climate change, and work to keep 1.5°C within reach. The COP29 Presidency set out its vision, focused on two parallel pillars - to enhance ambition and enable action - with climate finance as a top priority. On energy specifically, the COP29 Presidency has launched three initiatives as part of the COP29 Action Agenda, to respond to the energy goals agreed at COP28: the COP29 Global Energy Storage and Grids Pledge, COP29 Hydrogen Declaration, and COP29 Green Energy Zones and Corridors Pledge. Still early days, but there seems to be a lot of will to move things forward!!

COP 29, set to take place in Baku, Azerbaijan from Nov. 11-22, 2024, aims to spotlight climate action globally. The event follows the recent adoption of the “Pact for the Future” by the UN, underlining the importance of sustained efforts. Achievements at COP are shaped by months of preparation, geopolitical dynamics, and ongoing momentum. Success hinges on unwavering commitment from governments and negotiators year-round, beyond the conference. To drive progress, innovative solutions, particularly from the private sector, are crucial to realize the vision of making COP 29 the 'finance COP'. Check out the snapshot for quick reference. #COP29 #sustainablefinance #carbonmarkets #climatechange #greenfinance #emissions #developingnations #coal #subsidies #Azerbaijan #COP28 #Energytransition

ICYMI: At COP29 in Baku, NGOs criticized the G20 for lacking leadership on #energytransition. Despite progress on #climatefinance, the absence of commitments on #fossilfuels provoked sharp disappointment. L’article COP29: NGOs Disappointed by Lack of Clear Commitments on Fossil Fuels est apparu en premier sur energynews.

The 29th UN Climate Change Conference of the Parties (COP29) in Baku, Azerbaijan, runs till November 22. Notably, Azerbaijan, like the UAE, which hosted COP28, is a significant oil and gas producer. This trend of oil and gas-heavy nations hosting COP events has sparked a range of perspectives. On one hand, climate activists argue that fossil fuel companies and oil-producing countries have vested interests that hinder real climate action, asserting that these parties should not be involved in COP. On the other hand, some see these players as essential stakeholders, given their financial resources, technological capabilities, and influence, which could contribute significantly to the transition to net zero if they commit to emission reductions. Proponents of this view also emphasize the need for energy security, arguing that a stable energy supply is essential for global development. Since the landmark Paris Agreement in 2015, COP’s relevance has appeared to wane, with many questioning the platform’s effectiveness. As we look ahead to 2030 and 2050, what does the future hold for the global net zero transition, and how might the role of oil-producing nations evolve? #esgjourney #esgconsultancy #esgemployment #sustainability #roadtonetzero #theworldisblueandgreen #franesg

The draft text has dropped here on the last day of COP29 and friends, it's not ambitious. It's a bit of a backslide. The goal was to get to the needed 1.3 Trillion USD annually needed for the developing world to have a just transition and adapt to the changes we've already committed them to with our historic emissions. The current quantum? 250 billion USD. Not sure where things go from here before the COP closes out. Unclear if developing countries will accept this. Lots of discussion as to which is worse - a bad deal or no deal.

The main achievement of COP28 – transitioning away from fossil fuels, which COP29 was expected to reinforce and build on, alongside the issues around climate finance (loss and damage fund), did not make the final agreement and disappeared from the final deal in Baku. This is the main point that undeveloped nations should be worried about, not the size of compensation. The “WEST” has always acted in its interest and like always has steered the conversation away from the real issue and made it about funding for loss & damages (which has been on the table for a couple of years without any progress), while the losses and the damages continue. A more sustainable position for the undeveloped nations should be the request to implement the landmark agreement of COP28 – monitoring and reporting on the effort to move away from oil, gas and coal. The conversation should not be about being paid for ruining our environment and future. No. 

#climatechange #environment COP 29 concluded just a few days ago, and there has been a significant amount of discussion surrounding the event. In my forthcoming posts, I will aim to highlight the 𝗸𝗲𝘆 𝗺𝗼𝗺𝗲𝗻𝘁𝘀 𝗮𝗻𝗱 𝗶𝗻𝗶𝘁𝗶𝗮𝘁𝗶𝘃𝗲𝘀 from the Baku conference. 𝘞𝘩𝘪𝘭𝘦 𝘵𝘩𝘦 𝘤𝘩𝘰𝘪𝘤𝘦 𝘰𝘧 𝘉𝘢𝘬𝘶 𝘢𝘴 𝘵𝘩𝘦 𝘩𝘰𝘴𝘵 𝘤𝘪𝘵𝘺 𝘧𝘰𝘳 𝘵𝘩𝘪𝘴 𝘤𝘭𝘪𝘮𝘢𝘵𝘦 𝘦𝘷𝘦𝘯𝘵 𝘸𝘢𝘴 𝘴𝘰𝘮𝘦𝘸𝘩𝘢𝘵 𝘤𝘰𝘯𝘵𝘦𝘯𝘵𝘪𝘰𝘶𝘴, 𝘵𝘩𝘦 𝘊𝘖𝘗 𝘱𝘳𝘰𝘤𝘦𝘴𝘴 𝘶𝘯𝘥𝘦𝘳𝘴𝘤𝘰𝘳𝘦𝘴 𝘵𝘩𝘦 𝘤𝘺𝘤𝘭𝘪𝘤𝘢𝘭 𝘯𝘢𝘵𝘶𝘳𝘦 𝘰𝘧 𝘤𝘰𝘶𝘯𝘵𝘳𝘺 𝘴𝘦𝘭𝘦𝘤𝘵𝘪𝘰𝘯 𝘧𝘰𝘳 𝘩𝘰𝘴𝘵𝘪𝘯𝘨. In my future posts, I would also like to highlight discussions took place in 𝗯𝗼𝘁𝗵 𝗯𝗹𝘂𝗲 𝗮𝗻𝗱 𝗴𝗿𝗲𝗲𝗻 𝘇𝗼𝗻𝗲 of COP event. Further, I envision the following topics as focal points for climate enthusiasts to engage in discussions regarding the outcomes of this COP and the strategies that lie ahead: 1. Agreements on global carbon market. 2. Pledge towards global energy storage and grid. 3. COP 29 hydrogen pledge. 4. Operationalizing loss and damage fund. 5. Baku harmoniya initiatives for farmers. 6. Initiative to establish global energy efficiency alliance. 7. Opposing the EU- carbon border tax. 8. Release of CCPI- climate change performance index. 9. COP Hydrogen Declaration. 10. Climate finance action fund(CFAF) by oil producers. 11. Baku declaration on global climate transparency. It will be interesting to have some highlights on above points in the upcoming posts to gain insight into potential opportunities lies and the progress on climate commitments. #UNFCCC #COP29 #sustainability #BSI #climatefinance #ESG #cleantech #LinkedInTopVoices

🌍 COP29: Saudi Arabia Accused of Modifying Negotiating Text As COP29 continues, tensions rise over accusations that Saudi Arabia edited official negotiating texts, threatening the integrity of the process. 🔴 What Happened? • Saudi delegates allegedly altered key climate transition documents, undermining the spirit of fair negotiations. • The move, alongside the country’s historical stance against fossil fuel cuts, raises concerns over impartiality and transparency. 💡 Why It Matters • This revelation could jeopardize the COP29 negotiations, where vulnerable nations seek fair representation. • Climate finance remains a hot issue, as developing nations already invest billions in climate adaptation. The outcome of COP29 will influence global climate action, and it’s crucial that all voices are heard equally. #COP29 #ClimateAction #Sustainability #ClimateFinance #GlobalPolitics

Key themes to know from COP29, and for the road to COP30 in Brazil next year: With more than 65,000 registered participants from nearly 200 countries, COP29 in Baku saw greater engagement than initially expected, making it the second-largest COP on record. A fragmented geopolitical landscape, the election of Donald Trump in the U.S., rising greenhouse gas emissions, and questions over the adequacy of the UNFCCC process itself made for a challenging backdrop. However, whilst the outcome on climate finance fell short of the sum global economists consider necessary, the new ‘floor’ Baku has established is not insignificant. Moreover, with Brazil’s comparatively greater diplomatic influence, the issues this gathering in Baku crystalized set the scene for a highly charged year of climate action in 2025. This summary below highlights the main outcomes of the official negotiation process, as well as bilateral agreements between smaller groups of countries, or within specific sectors. Wolfgang Blau