Center for International Environmental Law (CIEL)’s Post

"COP29 was a dumpster fire. Except it’s not trash that’s burning— it’s our planet. And developed countries are holding both the matches and the firehose. Their refusal to pay up for climate action and harm, or to phase out fossil fuels, in line with their legal obligations, denies Global South countries their due and puts a livable future at risk,” said Nikki Reisch, CIEL’s Director of Climate & Energy Program. "Wealthy countries failed to meet their legal obligations to provide their share in debt-free public finance, phase out fossil fuels without dangerous loopholes or distractions like carbon markets, and uphold human rights and civic space." "Paying to pollute will never be a climate solution, and carbon markets will never be climate finance. Creating a Paris-sanctioned carbon market that could be more dangerous than the scandal-ridden voluntary carbon markets, is not a win for people or the planet. It’s a win for big polluters and carbon cowboys." https://lnkd.in/dJyMaZtw

It’s disappointing to see the dilution of positive impacts from COP in recent years. As our communities are facing the impacts of climate change and our Pacific Island neighbours are on a timeline to loss of their sovereign nations it seems to have become about tokenism rather than positive action. #climatechangeaction

The climate negotiations COP29 started yesterday in Baku and we have already seen maneuvers on carbon markets that will weaken climate action. But offset projects have a history of overpromising and underdelivering, with wildfires burning through forests that were supposed to be protected and emissions from renewable energy projects being counted on balance books even though they would probably have been built anyway. “We’ve seen over and over again how carbon markets are not doing what they claim to be doing [reducing carbon emissions], as well as market projects that violate human rights. If they don’t have strong rules in place to prevent human rights violations and environmental harm, carbon markets can totally undermine the integrity of the Paris agreement and weaken effective climate action," CIEL's Erika Lennon for The Guardian. READ: https://lnkd.in/eU3xFvDC Before we dive into day 2 here's our lookback: https://lnkd.in/epaxJwxt #COP29 #ClimateAction #CarbonMarkets

At COP29, nations reached a significant milestone by agreeing on new rules for a global carbon market, allowing countries to earn "carbon credits" for reducing emissions, which can then be sold to higher-polluting countries. The importance? The approval of these foundational standards marks a crucial step toward creating an international market for carbon credits, potentially driving more action on climate goals. #COP29 #CarbonMarket #ClimateAction

Financial support falls well short of what estimates suggest will be needed, and the late agreement reveals increasingly fractured political support. Critics have branded COP29’s last minute deal as a ‘travesty of justice’. The agreement will see the wealthiest countries spend $300billion a year on helping developing nations #decarbonise and cope with the impact of the #climatecrisis. This is far leas than the $1.3trillion experts believe is needed to cover these cots, but the international community has failed to secure the necessary backing for this. As signatures were added to the agreement a number of countries, including several climate vulnerable islands and African states, walked out of the negotiating room in protest. ‘The 11th hour agreement reached at #COP29 is a mixed bag. On the one hand, the fact that a significant $300 billion has been pledged to support the world’s poorest in tackling the devastating effects of climate change represents real progress,’ said Environmental Audit Committee Chair, Toby Perkins MP. ‘While it is far less than the $1 trillion estimated to be needed, the sum agreed brought the negotiations back from the verge of collapse,’ he continued. ‘On the other hand, another failure to agree wording on leaving #fossilfuels in the past is simply kicking the can down the road. It is critical that next year’s #COP in #Brazil revisits the issue of phasing out fossil fuels. The world is making enormous progress in moving to low carbon energy: it’s time to turbocharge these efforts for the health and prosperity of our fragile planet.’

As world leaders were dragging their feet to reach a badly needed climate finance deal at the COP29 in petrostate Azerbedjan, news broke that Shell won the appeal in the landmark Milieudefensie / Friends of the Earth Netherlands climate case. The judges underscored that the company has a major responsibility to citizens to limit its emissions, but said a 45% reduction obligation cannot be imposed. The court decision in favour of the oil and gas giant on November 12th shocked climate activists, and the timing couldn’t be worse. Far from the “transition away” from burning fossil fuels that was pledged by the world’s nations at last year’s COP in Dubai, new data shows that planet-heating CO2 emissions from coal, oil, and gas will hit a new record in 2024. But now the dust over the court decision has settled, new optimism is glowing among climate litigators. Milieudefensie thinks the ruling provides a solid basis for their next climate case against ING, the Netherlands’ largest bank. Why? And what is the wider impact on business and climate change action? >> A dive into the evidence (link in comment) #ClimateJustice #humanrights #COP29

#COP29 - This 29th edition of the COP is themed "Investing in a livable planet for all." “A key focus of COP29 will be on finance,” say the organisers, “as trillions of dollars are required for countries to (...) protect lives and livelihoods from the worsening impacts of climate change”. The COP29 climate conference “will also be a key moment for countries to present their updated national climate action plans”. In Friday's article, Benjamin Bibas, our environmental justice expert, reviewed major legal decisions over the past decade aimed at urging states to reduce greenhouse gas emissions. But are they likely to influence the negotiators in Baku? More details 👉 https://lnkd.in/dq6WUQRp #ClimateLitigation #ClimateJustice

Recent developments in global climate policy and international relations have exposed a stark contradiction between some of the commitments made at COP29 and the actions of major global powers. The United States, under TRUMP 2.0, has signalled a retreat from previous climate commitments. To put it mildly, this casts serious doubt on the US's sincerity regarding Biden's climate promises. Yet even at that, it is refreshing to note that, a "certain" global #carbon market framework has been endorsed. Even more refreshing is the fact that it is aiming to finance projects that reduce greenhouse gas emissions. However, the effectiveness of this initiative is jeopardised by Trump's plans to dismantle key climate policies, including the Inflation Reduction Act, subsidies for renewable energy, and even topple that up with tariffs on EU and China. Such actions threaten to derail international efforts to combat climate change and diminish the credibility of global agreements. The juxtaposition of military expenditure with climate adaptation funding further highlights a troubling disparity. Interesting that trillions are allocated to defense budgets at the time the United Nations Environment Programme estimating that developing countries will require between $160 billion to $340 billion annually by 2030 for climate adaptation. Did anyone care to ask about the opportunity cost of military aid on climate finance while this endorsement was underway? Costs of war are overshadowing the urgent need for investment in climate resilience and a just transition to sustainable economies. I am really looking forward to those conversations at COP 29. We need a resilient future for all. The politicization of sustainability should be ending. Global leaders must reassess their commitments and align their actions with the pressing realities of climate change, #COP29 #ClimatePolicy #USClimateAction #ClimateCommitments #GlobalWarming #ClimateAdaptation #JustTransition #Sustainability #EnvironmentalJustice #ClimateChange #GreenEnergy #RenewableEnergy #ClimateCrisis #ClimateActionNow #NetZero #CarbonEmissions #ClimateFinance #SustainableDevelopment #ClimateLeadership #ClimateResponsibility

Urgent Carbon Credit Rules Approved at COP29 Opening The opening day of the COP29 climate conference saw the quick approval of new rules governing carbon markets. This is a critical step, as carbon markets have the potential to unlock climate financing - but only if the rules are well-designed. The approved rules aim to address issues like double-counting of emissions reductions. This is an important safeguard to ensure the integrity of the carbon market system. However, the rushed nature of the approval process raises concerns. As highlighted by Carbon Market Watch, the lack of prior discussion "undermines the credibility" of this crucial climate conference. ❓ Why does it matter? Robust carbon market rules are essential to channeling climate finance where it's needed most. But they must be developed through an open, transparent process that builds trust. 💭 As a company committed to sustainable operations, we'll be closely watching how these new carbon market rules are implemented. The success of global climate efforts depends on getting the details right. #COP29 #CarbonMarkets #ClimateFinance https://lnkd.in/eU3xFvDC _____ 𝙷𝚊𝚜𝚑𝚝𝚊𝚐𝚜 𝚠𝚒𝚝𝚑 𝚖𝚞𝚕𝚝𝚒𝚙𝚕𝚎 𝚠𝚘𝚛𝚍𝚜 𝚌𝚊𝚗 𝚋𝚎 𝚍𝚒𝚏𝚏𝚒𝚌𝚞𝚕𝚝 𝚝𝚘 𝚛𝚎𝚊𝚍 𝚏𝚘𝚛 𝚟𝚒𝚜𝚞𝚊𝚕𝚕𝚢 𝚒𝚖𝚙𝚊𝚒𝚛𝚎𝚍 𝚜𝚌𝚛𝚎𝚎𝚗 𝚛𝚎𝚊𝚍𝚎𝚛 𝚞𝚜𝚎𝚛𝚜. 𝚂𝚘 𝚌𝚊𝚙𝚒𝚝𝚊𝚕𝚒𝚜𝚒𝚗𝚐 𝚝𝚎𝚑 𝚏𝚒𝚛𝚜𝚝 𝚕𝚎𝚝𝚝𝚎𝚛 𝚘𝚏 𝚎𝚊𝚌𝚑 𝚠𝚘𝚛𝚍 𝚖𝚊𝚔𝚎𝚜 𝚒𝚝 𝚎𝚊𝚜𝚒𝚎𝚛 𝚝𝚘 𝚒𝚍𝚎𝚗𝚝𝚒𝚏𝚒𝚢 𝚝𝚑𝚎 𝚜𝚝𝚊𝚛𝚝 𝚘𝚏 𝚎𝚊𝚌𝚑 𝚠𝚘𝚛𝚍.

#COP29 has come to an end. The results on financing issues in particular fall well short of the expectations of developing countries and can be considered a disappointing outcome. Nevertheless, there was an agreement on #Article6 of the Paris Climate Agreement after 9 years of negotiations. In order not to further delay the implementation of a UN-backed mechanism to establish and link carbon markets across the world, compromises were also made here. It remains to be seen how the operationalization will be implemented by the UN supervisory body and whether this will result in a relevant lever for long-term reduction of global greenhouse gas emissions.