As global leaders gather in Azerbaijan for the 29th Conference of the Parties (COP), we’ll be sharing daily round-ups of the main points shared and key decisions made when it comes to tackling the climate crisis.
- Day 11: Thursday 21 November
After two weeks of intense negotiations, speeches and a lot of goodwill, it has still gone down to the wire at COP29 in the last few days. A climate finance deal is yet to be reached with a standoff between poorer and richer nations still persisting with the EU delegation describing the current proposal as ‘clearly unacceptable’. Despite this, it is understood that a breakthrough might be imminent.
Equally frustration has emerged on the deal around fossil fuels with one UN delegate stating ‘I am so sick of Saudi Arabia’s opposition to any suggestion of a transition away from fossil fuels.’ Saudi Arabia has blocked progress on expanding the current fossil fuel pact at COP28 in Dubai in 2023 to “transition away” from fossil fuels. The lack of progress even led one US Climate Envoy to state “We are surprised that there is nothing that carries forward…what we agreed last year in Dubai.”
So on the last day, with increasing pressure with no finance deal coming into it, we will be expecting some emotional high-level speeches and last-minute compromises. With so much yet to do, one question is in everyone’s mind: will this COP be done by the end of today, or like so many others before, will it extend into the weekend? - Day 10: Wednesday 20 November
It is the beginning of the final stretch of COP29 in Baku and the next two days of negotiations will prove critical. In what by now will be a familiar statement, the draft text regarding climate finance remains “clearly unacceptable”. The core of the finance question is unresolved with a gulf remaining between what “developed” countries are offering and what “developing” countries are demanding. The type of finance which is offered is also under discussion with loans rather than grants only adding to the debt of poorer nations whilst richer nations believe that private money and innovative sources are needed to bridge the gap where public money falls short.
While today’s focus will be on Nature and Biodiversity, Indigenous People, Gender Equality, Ocean and Coastal Zones, disagreement has already arisen on the wording around gender equality. Women and girls are disproportionately impacted by climate change, and negotiations today will look to funnel additional support and money to them. Discussions have currently stalled although there is still an opportunity for compromise before the final agreement is signed.
Fears have arisen that ambition on fossil fuels is backsliding, with OPEC Secretary General echoing Azerbaijan President Ilham Aliyev, stating that oil is a gift from God. Nevertheless, redirecting subsidies from fossil fuels into climate finance is hinted to be mentioned in the text which indicates a way forward out of fossil fuel dependency.
Sights are already on COP30 and COP31 negotiations with Brazil, hosts of COP30 telling the EU to up their ambition whilst Australia and Turkey vie to host the 2026 conference.
In the final 48 hours, there is everything to play for with glimmers of hope that success can be achieved at this COP. Despite hope, it looks like many, particularly those in developing countries, will be disappointed by the final text. - Day 9: Tuesday 19 November
Deadlock continues at COP29 as divisions multiply. The key issue is the provision of money to financially poorer “developing” nations by “developed” nations so they can adapt to climate change and cut their own emissions. There is disagreement about what counts as climate finance, how much should be provided, whether money should all come from public sources or not, whether it can include loans rather than grants, and who should pay it. There is also scepticism over the role of carbon markets in reducing emissions, with many seeing them as a way of avoiding emissions reductions rather than encouraging them. Additionally, there has been little progress on making an effective Loss and Damage Fund, finance for dealing with destruction that has already happened from climate change, despite Australia pledging $50 million towards it yesterday.
Some poorer “developing” countries are now joining “developed” countries in urging that China and India – both classed as “developing” countries under the 1992 Rio Climate Agreement that started the COP process – should contribute to climate funding. China and India continue to disagree. Meanwhile, the push from European countries for an agreement with strong commitments to move away from fossil fuels has met opposition from Arab states.
The “Alliance of Champions for Food Systems Transformation”, consisting of Brazil, Cambodia, Norway, Rwanda and Sierra Leone, issued a statement calling for a “rapid and sustained increase” of climate finance to go towards transforming food systems which are estimated to require $500 billion per year over the next decade.” It is hoped that the arrival of countries’ environment ministers in Baku can trigger progress on climate finance before the end of the conference on Friday.
Today is notable because the High-Level Segment (HLS) resumes, this is a platform where prominent government figures deliver national statements outlining their countries’ climate action plans and commitments. These statements can be watched live here. - Day 8: Monday 18 November
The Plenary Session showed that the gulf between developed and developing nations at COP29 remains enormous. Each group blames the other for the lack of progress so far. The key issue is who is to pay how much for the changes developing countries have to make, and by what mechanisms. Developing countries say they need developed countries to pay trillions, not billions, of dollars, and in the form of grants from public funds, not loans and not profit-seeking private sector investments.
At the COP29 Presidency’s press conference, COP29 President Mukhtar Babayev of Azerbaijan noted that the G20 group, made up of the twenty countries with the largest economies, accounts for 85% of global GDP and 80% of global greenhouse gas emissions, and called on the group to use its meeting in Brazil this week to show climate leadership. Coincidentally, the G20 meeting was agreeing on the need for transitioning away from fossil fuels and for trillions of dollars to be provided by rich countries – though without being clear how that would be provided.
Simon Stiell, UN Climate Change Executive Secretary, noted progress on carbon markets (themselves a highly contested mechanism for addressing climate change) but also a lack of progress on other matters during the past week. He also reminded that the world is a long way from halving emissions by the end of this decade, and that climate finance is not charity, as it is in every country’s economic interests to protect themselves from damaging climate impacts. The New Collective Quantified Goal (NCQG) on climate finance is the main element of what needs to be achieved at the Baku talks.
In the meantime, the Faith Pavilion continues to feature many faith-based organisations’ panels and initiatives. At a side meeting organised by Church organisations, speakers stressed that a whole new “financial architecture” is needed, and that rich countries have the historical moral obligation of stepping up and providing the funds to help poorer countries make necessary changes. In these hours when frustration grows with the slow pace of the talks, all voices are helpful to help the negotiations move forward. - Days 5-7: Friday 15 – Sunday 17 November
The second week of COP29 uniquely coincides with the G20 Summit which starts on Monday (18 November) in Brazil. Considering the lack of heads of state attending this COP, UN Secretary-General António Guterres has urged that this can be an opportunity to “show leadership” in the context of stalling negotiations at COP29.
Recent days’ negotiations have been hindered by disagreements over emissions cuts. Developing nations argue that developed countries should bear more responsibility and provide financial assistance for their transition to cleaner energy, given the historical emissions of wealthier nations. However, some high-income countries are pushing for ambitious targets which include significant reductions from developing countries.
On the subject of climate finance, wealthy nations’ reluctance to commit to a $1 trillion climate finance target has also impeded negotiations. This proposed figure would supersede the existing $100 billion goal established a decade ago. Additionally, persistent efforts to enlist the financial support of China, Saudi Arabia, and the UAE have been steadfastly opposed by these countries.
The hope, at the beginning of this second week, lies in the direct engagement of several finance and environment ministers who just arrived in Baku and will hopefully break this deadlock to find new ways to compromise in an effort to move forward. - Day 4: Thursday 14 November
As we approach the halfway mark in Baku, agreement in significant parts of the agenda seems a long way off with the entire system itself being called into question. A group of influential climate policy experts have stated that “It is now clear that the COP is no longer fit for purpose. We need a shift from negotiation to implementation,” They are looking for stricter controls of where these conferences take place with host countries needing to demonstrate clear support for the COP process and swift climate action. In what is a regular feature at COP there is also huge criticism of the powerful fossil fuel lobbyists which are present at COP and are clearly evident at one. The former US Vice President Al Gore and other leading NGOs have vented their frustration at the conference.
Negotiations yesterday concentrated on Finance, Investment and Trade which has been a major sticking point across the entire process. With a history of under-promising as well as under-delivering on the pledged amounts, innovative sources of funding have been suggested as a means to bridge the gap. A solidarity levy on high carbon emitting activities, e.g. cryptocurrencies and frequent fliers, could raise billions of dollars for climate action while redirecting fossil fuel subsidies could release even more funding.
COP was again discussed yesterday in the EU Parliament where MEPs want economies with “high emissions and high GDP to contribute financially to global climate action”, also backing the redistribution of fossil fuel subsidies as an important way forward in terms of climate finance.
Today the summit will be addressing Energy, Peace, Relief and Recovery, and tomorrow will be dedicated to Science, Technology, Innovation and Digitalisation. Participants are already longing for a rest day on Sunday, when the premises at Baku Stadium will be closed, in preparation for what promises to be a hard-working COP29 second and final week. - Day 3: Wednesday 13 November
The second day of the World Climate Action Summit showed signs of division, with two major countries taking a step back already from negotiations. Emmanuel Macron’s government was so infuriated by Ilham Aliyev, the Azerbaijani President, accusations of neocolonialism against France and the Netherlands that they cancelled the trip of the Climate Minister to Baku. The President of Argentina and notorious climate sceptic Javier Milei has also withdrawn all of the 80 negotiators representing that country from the conference. On a totally different tone, the Prime Minister of Albania Edi Rama made international headlines when he asked “What on earth are we doing in these gatherings, if there’s no common political will to go beyond words and unite for meaningful action?”. To be noted, Albania stands out as one of the few countries worldwide with a 100% renewable electricity production system.
Despite these disruptions, there was progress made on the matter of Climate Finance with a new financial agreement, known as the New Collective Quantified Goal, being already drafted (the texts under discussion can be followed here). This agreement was encouraged by the Prime Minister of Barbados Mia Mottley, a long-time campaigner for climate finance for those countries most affected by climate change, and who used her speech as an opportunity to support further levies on the aviation industry.
The proceedings of COP29 will today come to Brussels where MEPs are voting on a resolution which, if approved, will send an “unambiguous signal” to all countries at COP29 to phase out all direct and indirect fossil fuels subsidies as soon as possible. - Day 2: Tuesday 12 November
The first day of the World Climate Action summit did not disappoint in providing some unexpected soundbites. The most notable of which came from Azerbaijan’s President Ilham Aliyev who commented that Oil and gas are a ‘gift of God’. This was in the context of his criticism of western countries that Azerbaijan was hosting the conference despite its heavy reliance on the oil and gas industry.
The Prime Minister of Hungary, a notorious climate critic, contributed to this controversy by stating that countries should continue to use fossil fuels. This is all in the context of a report released that day explicitly stating that world leaders have not been doing enough and that there has been ‘no sign’ of promised fossil fuel transition as emissions hit new high.
In brighter news the British Prime Minister Sir Keir Starmer, who along with Giorgia Meloni of Italy is one of only two G7 world leaders showing up at COP, announced major reforms to accelerate climate action in the UK. The World Bank also contributed to some good news in announcing a pledge to boost Climate Finance to USD 120 billion by 2030 from Multilateral Development Banks. - Day 1: Monday 11 November
The opening session of COP29, which takes place today, is a formality rather than the beginning of the intense international negotiations which will begin at the World Climate Action Summit tomorrow.
Today is the opportunity for the host of COP29, Azerbaijan, to introduce itself and its top negotiating team to the world. Mukhtar Babayev’s appointment as COP29 President in January turned heads, considering his strong ties to the oil industry. This will not be the only controversy clouding the opening ceremony, with many groups criticising Azerbaijan for its human rights record.
This session is however a chance for its hosts to propose its objectives for COP29 which are heavily influenced by issues about finance with Loss and Damage and Climate Finance expected to take centre stage these next two weeks.
As delegates gathered in Baku for the opening of COP29, the stark reality of our climate crisis cast a long shadow over the proceedings. The World Meteorological Organization’s latest data paints a grim picture: 2024 is poised to become the warmest year on record, with temperatures soaring 1.54°C above pre-industrial levels – dangerously close to the Paris Agreement’s 1.5C threshold.
COP29 President Mukhtar Babayev’s characterisation of these talks as “a moment of truth for the Paris Agreement” could not be more apt. From day one, the summit has been mired in a fundamental dispute over its very purpose. While fossil fuel-dependent nations attempt to narrow the agenda to focus solely on climate finance, others rightfully insist that any meaningful discussion must address the elephant in the room: the global transition away from fossil fuels.
UN climate chief Simon Stiell’s push for a new global climate finance framework highlights the critical intersection of economic and environmental imperatives. Meanwhile, US climate envoy John Podesta’s pledge to maintain America’s climate commitment despite domestic political headwinds offers a glimmer of hope, though questions linger about the durability of such promises.
The opening day’s proceedings reflect a familiar pattern at climate summits: the tension between urgency and inertia. As temperatures rise and records fall, the luxury of delayed action slips further from our grasp. The real “moment of truth” may not be for the Paris Agreement alone, but for our collective capacity to transcend national interests in service of global survival.
Today is the first of the two-day World Climate Action Summit, where many world leaders will meet to discuss the global strategies guiding COP29, and indeed moment to see with which “truth” they are facing the current climate crisis. - Opening reflection: What has happened since COP28?