The COP29 Summit in Baku has approved the key rules that would govern trade in carbon credits. A UN-backed global carbon market is likely to begin next year or so. Despite the BASIC grouping’s demand that discussions on ‘climate change-related, trade-restrictive unilateral measures’ like Europe's CBAM should be included in the main agenda, it was decided that CBAM would be discussed informally.

Argentina’s negotiating team were ordered home. The country’s president Javier Milei has previously said that the climate crisis is a “socialist lie”. “We have instructions from the ministry of foreign affairs to no longer participate,” the country’s top environmental official said,

France’s ecology minister, Agnes Pannier-Runacher, announced she was cancelling her trip to Baku to take part in the Cop29 talks. 

On Wednesday, representatives from Milei’s government were ordered to leave the Azerbaijani capital. Speaking to the Guardian, Argentina’s undersecretary for the environment, Ana Lamas – the country’s most senior representative on the climate and nature after Milei dissolved the environment ministry – confirmed the decision, which was first reported by Climatica.

“It’s true. We have instructions from the ministry of foreign affairs to no longer participate. That’s all I can tell you,” she said. Lamas said the decision applied only to Cop29, when asked if Argentina was planning to leave the Paris agreement.

There is widespread concern about the future of the climate accord after the election in the US of Donald Trump, who has pledged to exit the agreement for the second time.

https://www.cfact.org/2024/11/13/day-2-azerbaijan-president-says-fossil-fuels-a-gift-from-god-un-parades-world-leaders/ By Craig Rucker Day two of the UN Conference of the Parties meeting (COP 29) in Baku, Azerbaijan, saw numerous heads of state roll into town to pay homage to he global warming cause. In all, some 100 world leaders were represented, with many ushered into the main plenary stage to deliver short testimonials on how […]

https://www.nytimes.com/2024/11/13/opinion/climate-change-politics-trump-cop29.html By David Wallace-Wells When the COP29 climate conference comes to an end next week, it will have concluded without an appearance by President Biden. This is not because Donald Trump just won the election, supplanting the outgoing American head of state on the world stage. The president-elect isn’t attending, either. Neither is Vice President […]

President Ilham Aliyev, who is hosting the COP29 UN climate talks, drew loud applause from delegates of some Pacific island nations after a combative speech targeting France's handling of its overseas territories.

Azerbaijan’s President Ilham Aliyev lashes out at Emmanuel Macron and steps up defence of oil and gas as regional countries dominate guest list

COP29 negotiators welcomed a pledge by major development banks to lift funding to poor and middle-income countries struggling with global warming as an early boost to the two-week summit.

Countries are negotiating a higher target for payments starting next year, but some have been reluctant to confirm its size until it is clear which countries will contribute.

A fresh draft of a UN climate deal released Wednesday offers wide-ranging options to raise funding for poorer countries, signalling that tough negotiations remain at the COP29 talks in Baku.

BAKU, Azerbaijan — COP29 negotiators welcomed as an early boost to the two-week summit a pledge by major development banks to lift funding to poor and middle-income countries struggling with global warming. A group of lenders, including the World Bank, announced a joint goal on Tuesday of increasing this finance to $120 billion by 2030, a roughly 60% increase on the amount in 2023. "I think it's a very good sign," Irish Climate Minister Eamon Ryan told Reuters on Wednesday. "It's very helpful. But that on its own won't be enough," Ryan said, adding countries and companies must also contribute. The chief aim of the conference in Azerbaijan is to secure a wide-ranging international climate financing agreement that ensures up to trillions of dollars for climate projects. Developing countries are hoping for big commitments from rich, industrialized countries that are the biggest historical contributors to global warming, and some of which are also huge producers of fossil fuels. "Developed countries have not only neglected their historical duty to reduce emissions, they are doubling down on fossil-fuel-driven growth," said climate activist Harjeet Singh. Wealthy countries pledged in 2009 to contribute $100 billion a year to help developing nations transition to clean energy and adapt to the conditions of a warming world. But those payments were only fully met in 2022 and the pledge expires this year. With 2024 on track to be the hottest year on record, scientists say global warming and its impacts are unfolding faster than expected. Climate-fueled wildfires forced evacuations in California and triggered air quality warnings in New York. In Spain, survivors are coming to terms with the worst floods in the country's modern history. Albania's Prime Minister Edi Rama said he was concerned that the international process to address global warming, now decades old, was not moving swiftly enough. "This seems exactly like what happens in the real world everyday," he told the conference. "Life goes on with its old habits, and our speeches, filled with good words about fighting climate change, change nothing," Rama added.

For the first time, the UN Climate Change conference of the parties will welcome Tourism Ministers, placing the sector firmly within the COP29 Action Agenda and providing a high-level platform for dialogue – at the initiative and joint leadership of the State Tourism Agency of the Republic of Azerbaijan and the World Tourism Organization (UN Tourism).

1. Where Will the COP29 Money Come From? | Company Business News  Mint
2. 10 Most Climate-Vulnerable Countries Got Less Than $1 Year Climate Finance: Report  NDTV
3. Raise $1tr annually for developing nations to deliver on Paris pact goals: Report  Hindustan Times
4. Countries Are Pledging Money They Don’t Control at COP29  Bloomberg
5. COP29 Is About Money. Where Is It Going To Come From  OilPrice.com

India, LMDCs advocate for equitable climate finance at COP29, pushing for transparency, fairness, and flexibility in financial commitments

Here is what you need to know about the November 11-22 summit talks on finance.

India, LMDCs advocate for equitable climate finance at COP29, pushing for transparency, fairness, and flexibility in financial commitments

During the negotiations, the LMDCs emphasised the principle of “common but differentiated responsibilities” (CBDR) to address the pressing financial gaps hindering effective climate action

1. Climate inequality must take centre stage at COP29  The Conversation
2. Oil and gas are ‘a gift of God’: COP29 leader  The Australian Financial Review
3. COP29 delegates complain about being sidelined in decision making  ABC News
4. This year has been masterclass in human destruction, UN chief tells Cop29  The Guardian

1. Global carbon market gets green signal at COP29 under Paris Agreement's Article 6  The Hindu
2. Why India and China have pushed against climate change-related trade measures at COP29  The Indian Express
3. COP29: G77, China agree to use new NCQG draft text as basis for finance negotiations  The New Indian Express
4. Video | UN Scientists Warn Of 'Rising Emissions' Worldwide  NDTV
5. COP29 gets momentum with consensus on creation of carbon credits standards, India wants to conclude work  The Times of India

The index was designed to quantify the specific vulnerabilities faced by countries, especially small island developing states

Prime Minister Shehbaz Sharif highlighted on Wednesday that financial pledges made at the previous two United Nations’ annual climate summits — COP27 and COP28 — were yet to materialise.

He made the remarks during the 29th United Nations Climate Change Conference, also known as COP29, that is being held in Azerbaijan’s capital of Baku. The premier presented Pakistan’s case on the second and final day of the World Leaders Climate Action Summit.

Pakistan is ranked among the top 10 most climate-vulnerable countries, according to the Global Climate Risk Index. It has faced increasingly frequent and severe weather events, such as unprecedented floods, intense monsoon rains, devastating heat waves, rapid glacial melting and glacial lake outburst floods.

Addressing the summit, PM Shehbaz asserted that COP29 should “make this understanding loud and clear that we will have to fulfil those financial pledges” committed at COP27 and COP28.

“And yet, I think, those huge financial commitments have to be materialised.”

The prime minister said the event was aimed at understanding the “calamities which, unfortunately, some of the countries have already faced and some will if we do not act”.

At COP27 in 2022, which was also attended by PM Shehbaz, countries had adopted a hard-fought final agreement to set up a “loss and damage fund” to help poor countries battered by climate disasters.

At COP28 last year, then-caretaker premier Anwaarul Haq Kakar had called for immediately executing the $100 billion in commitments for climate finance.

According to the UN, around $700 million have been pledged so far for the loss and damage fund, with France, Italy, Germany and the UAE being the biggest contributors.

At COP29 today, PM Shehbaz also spoke about the devastating monsoon floods of 2022, highlighting they had resulted in 1,700 deaths, massive displacement, destruction of houses and crops, and $30 billion loss to the country’s economy.

He called on the international community “to take measures which are so important at this point in time to have a conducive environment” to combat climate change.

The prime minister stressed that Pakistan was one of the countries that “hardly contribute” to global emissions, yet it was vulnerable to climate change and listed as one of the “10 countries which can, God forbid, face this kind of devastation again”.

“My memories are still fresh,” he said, recalling a meeting with flood affectees in Balochistan, including a boy named Ikramullah who had “lost everything”.

“His entire village was erased from the face of the earth, his home was completely demolished, and his school was also submerged. And we had arranged his education [in] another part of Pakistan,” he said.

PM Shehbaz stated he would not want “other countries to face the plight Pakistan faced back in 2022”.

Describing Pakistan as a “resilient, hard-working and responsible nation”, the premier affirmed his country was “fully committed to being part of the global climate solutions”.

Concluding his speech, the prime minister expressed the hope that under Azerbaijan’s leadership, COP29 can transform into a “finance COP by restoring confidence in the pledging process and scaling up climate finance”.

“I strongly feel that climate finance must be grant-based and not add to the debt burden of vulnerable developing countries,” he said, reiterating his remarks from yesterday on the sidelines of the summit.

“Two years ago, I warned, and I warned at the top of my voice, that the future would never forgive our inaction. Today, I echo the same warning with greater urgency,” PM Shehbaz asserted.

‘We shouldn’t brave impact of emissions by others’

Referring to the 2015 Paris Agreement, PM Shehbaz said: “Ten years ago in Paris, we had failed to stop the rise in emissions and catastrophic global warming, and those pledges in Paris 10 years ago, which were made have yet to see the light of the day.”

“As the minus-one emitters, we should not brave the impact of emissions realised by others without even the tools to finance resilience,” he emphasised.

“Without climate justice, there can be no real resilience,” the prime minister asserted.

The premier further said Pakistan would “go through a renewable energy revolution”, noting that the country last year presented a “comprehensive National Adaptation Plan”.

He continued: “This year, we have developed our National Carbon Market Framework. But we cannot do it alone. Pakistan needs international support to deliver on its climate ambitions.”

“My government has taken concrete actions to deliver on its commitment of producing 60 per cent of all energy from green sources and shifting 30pc of our vehicles to EVs (electric vehicles) by the end of this decade,” he told the summit.

PM Shehbaz stated that developing countries would need an estimated $6.2 trillion by 2030 to implement less than half of their current Nationally Determined Contributions (NDCs).

“The same goes for adaption and loss and damage,” he added, recalling the efforts at COP27 led by then-climate change minister Sherry Rehman.

Early warning systems for all

Addressing the COP29 summit, Deputy Prime Minister Ishaq Dar highlighted the utility of early warning systems for climate-induced disasters and extended his gratitude to UN Secretary-General Antonio Guterres for launching the ‘Early Warning for All’ initiative.

“Today, the threat is not limited to floods, we are facing rising temperatures, more intense and frequent heatwaves, and erratic rainfall patterns,” Dar said. “Early warning systems for various climate-induced hazards including floods, glacial lake outbursts, droughts and extreme heat are essential for resilience, not just for Pakistan but for all vulnerable nations worldwide,” he added.

The deputy PM thanked the UN Secretary-General for the early warning initiative, which “aims to protect every person on earth with an early warning system by 2027”.

Dar added that the threat of extreme heat emphasises the necessity of multi-hazard early warning systems, which he said were “critical to saving lives and supporting sustainable development in the face of climate adversity”.

“Despite our limited resources, Pakistan is committed to climate action and has set very ambitious goals,” the deputy PM said. “Our pledge to reduce projected greenhouse gas emissions by 50pc by 2030 comprises a 15pc reduction through national efforts and an additional 35pc contingent on international support.”

Dar named the Green Pakistan Project, an “electric vehicle policy”, a large-scale project to rehabilitate mangroves and implement Bus Rapid Transit (BRT) mass transit systems in Pakistan’s major cities.

“These efforts aim to fulfil our nationally determined contributions and to balance our global mitigation role with local adaptation needs,” Dar said. “However, we must acknowledge that national efforts alone are insufficient.”

The deputy PM highlighted that accessible climate finance is essential for Pakistan to meet these targets. “We urgently call on developed nations to honour their $100bn climate finance annual pledge and establish a new collective quantitative goal that reflects today’s needs with funding reaching the trillions,” he stated.

He added that this funding must be “accessible, grant-based and reflective of the historical responsibilities of industrialised nations”, adding that the burden “cannot rest solely on developing countries”.

“While Pakistan is ready to do its part, we look to the international community for support, particularly in accessing climate finance for early warning systems and climate resilience projects,” he said. “We need mechanisms that ensure easy, direct access to funds that can bolster national programmes rather than piloting isolated projects.”

Dar reiterated Pakistan’s commitment to “being part of the solution” to the shared climate crisis and stressed that through shared partnerships and support from global allies, “we can bridge the early warning gap, enhance resilience and build a safer, more sustainable future for generations to come”.

‘Debt cannot be new normal’

Speaking at a Pakistan-organised conference at COP29 yesterday, PM Shehbaz had said debt cannot become the “acceptable new normal” in climate financing.

He had explained that finan­c­ing in the form of loans pushes developing nations towards “mounting debt traps”, which he ref­erred to as “death traps”.

Speaking at Glaciers 2025: Actions for Glaciers, the prime minister had also linked humanity’s survival with the health of glaciers, saying Pakistan was ready to work with the world on the matter.

PM Shehbaz also met with various world leaders on the sidelines of the summit, including UAE President Sheikh Moha­m­med bin Zayed Al Nahyan, UK PM Sir Keir Starmer and Turkish President Recep Tayyip Erdogan, as well as those from South and Central Asia.

Dozens of world leaders convened in Azerbaijan for COP29 but many big names skipped the UN climate talks where the impact of Donald Trump’s election victory was keenly felt.

US President Joe Biden, China’s President Xi Jinping, India’s PM Narendra Modi and France’s President Emmanuel Macron were among the G20 leaders missing the event.

Pakistan witnessed devastating floods during the 2022 monsoon season, induced by climate change, resulting in the loss of at least 1,700 lives.

With 33m people affected and swathes of agricultural land washed away, the damage incurred losses worth $30bn, according to government estimates.

In June 2024, a heat wave brought record-high temperatures, severely impacting public health and agriculture.

1. COP29: Small victory as nations approve new carbon market rules, standards  The Indian Express
2. COP29 begins in Azerbaijan: Everything you need to know  The Indian Express
3. Developed nations need to triple their contribution to make climate finance credible: Avinash Persaud  The Hindu
4. COP29 gets momentum with consensus on creation of carbon credits standards, India wants to conclude work  The Times of India
5. UN Climate Draft Shows Deep Divide On Funding For Poorer Nations At COP29  NDTV

Azerbaijan's president said countries should not be blamed for having fossil fuel reserves.

Le repr�sentant sp�cial du pr�sident chinois Xi Jinping, Ding Xuexiang, qui est �galement vice-Premier ministre de Chine, a appel� mardi � renforcer les syst�mes d'alerte pr�coce pour tous et � am�liorer les capacit�s d'adaptation au changement...

[Capital FM] Baku, Azerbaijan -- Kenya's Environment Cabinet Secretary, Aden Duale, has stressed the urgency of addressing climate change and securing financial support for vulnerable nations at the ongoing COP29 in Baku, Azerbaijan.

[Premium Times] This year, the COP29 agenda is expected to be anchored on climate finance, mitigation, and adaptation, with the New Collective Quantified Goal (NCQG) designed to provide support for vulnerable communities in global climate solutions.

[Liberian Observer] What is COP29?

[Africa Renewal] At COP29, the United Nations Secretary-General António Guterres called for action to transform Africa into a global renewable energy leader, emphasizing the continent's untapped potential and the urgent need for investment and reforms

[UN News] UN Secretary-General António Guterres called on Tuesday for countries to step up contributions to a financial mechanism to assist developing countries affected by climate change.

[The New Humanitarian] Nairobi -- While it may be clear from a forecast when a good time to act might be, with regards to livelihoods it is never straightforward to decide what exactly should be done.

[Natural Justice] Baku, Azerbaijan -- The 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC COP29) has opened amid deep divisions over agenda items, fossil fuel lobbying by the host nation, and new carbon market rules that threaten to derail urgent climate action. Critical issues such as climate finance, just transitions, human rights, and the protection of Indigenous land and environmental defenders are already at risk.

[Nile Post] Uganda's delegation is taking a proactive stance at COP29 in Baku, presenting ambitious strategies in climate finance, sustainable energy, and climate adaptation--key areas for developing nations.

[New Times] The African Group of Negotiators (AGN) on Climate Change, at the ongoing 29th United Nations Climate Change Conference (COP 29) in Baku, Azerbaijan, are pushing for a significant boost in climate financing and ensuring that adaptation measures, as well as addressing loss and damage, are given the same level of importance as mitigation actions.

[New Times] The UN annual climate summit is now underway in Azerbaijan's capital Baku, where thousands of world leaders, including representatives of governments around the world are converging for two weeks of negotiations over how to tackle the global climate crisis.

[Vanguard] At COP29 in Azerbaijan, African Development Bank (AfDB) President Akinwumi Adesina stressed the transformative vision behind a newly launched Climate Investment Fund, set to list on the London Stock Exchange.

[Capital FM] Baku, Azerbaijan -- UN Secretary-General António Guterres declared that securing a climate finance deal at COP29 is critical for developing nations, emphasizing that they "must not leave Baku empty-handed."

The Solar Energy Industries Association (SEIA) put out a story yesterday that caught my attention. The title of the organization’s article was “America’s New Role at COP29: Global Solar Champion.” My first thought was, “Great, the US is doing something good on solar at COP29.” My next thought was, “Wait, ... [continued]

The post USA a Solar Champion at COP29? appeared first on CleanTechnica.

World leaders, scientists and activists are attending the UN's annual climate talks in Azerbaijan.

La COP29 en Azerbaïdjan : une première pour les talibans

Ilham Aliyev critique l'occident à l'ouverture de la COP29

1. COP29 : gaz et pétrole sont un «cadeau de Dieu», persiste le président azerbaïdjanais  Le Figaro
2. Poutine, Orbàn, Meloni... La COP29 accueille le gratin d’extrême droite mondial  Reporterre
3. On vous explique ce que sont les marchés des crédits carbone, qui ont été dotés d'un nouveau cadre à la COP29  franceinfo
4. COP29 : l’Afrique se voit en hub du futur marché mondial des droits à polluer  Le Monde
5. Cop29 : désastres climatiques, objectifs britanniques… Ce qu’il s’est passé ce mardi à Bakou  Ouest-France

Canada launches $2-billion public-private finance platform for developing countries at COP29  The Globe and MailView Full Coverage on Google News

1. UN chief warns COP29 summit to pay up or face climate-led disaster for humanity  The Globe and Mail
2. Climate Summit, in Early Days, Is Already on a ‘Knife Edge’  The New York Times
3. At COP29 summit, nations big and small get chance to bear witness to climate change  The Globe and Mail
4. Terence Corcoran: COP29 hit by political ‘dunkelflaute’  Financial Post
5. COP29: Albania PM goes off script to ask 'What on Earth are we doing?'  Euronews

Britain's Prime Minister Keir Starmer delivers a statement during the United Nations climate change conference COP29, in Baku, Azerbaijan November 12, 2024. — Reuters

BAKU: Climate change remains a point of concern and contention for countries around the world who are now fighting...

Prime Minister Shehbaz Sharif addresses the COP29 Climate Action Summit in Baku, Azerbaijan on November 13, 2024. — PIDNearly 200 nations negotiating global action on climate change at summit. PM Shehbaz Sharif calls for fulfilment of pledges made at COP27,...

TrusTrace, a global SaaS company with a platform for product traceability and supply chain compliance in fashion and retail, host a key session at COP29 entitled, ‘Data-Driven Decarbonisation: Navigating Fashion’s Path to Net Zero’ on November 16th from 13.00-13.40 at the Swedish Pavilion, C17, COP29 Blue Zone.