In just a few weeks, delegates from around the world will convene in Baku, Azerbaijan, for COP 29, scheduled from November 11 to November 22. This year’s conference is themed “In Solidarity for a Green World,” emphasising the necessity of global cooperation to tackle climate change. With the stakes higher than ever, nations face pressing questions about funding, commitments, and collaborative strategies to combat the climate crisis. 

At the heart of COP 29’s discussions lies a crucial issue: climate finance. Developing nations are advocating for rich countries to meet their demand for up to $1 trillion annually in climate financing. This funding is essential for these nations to implement sustainable practices, adapt to climate impacts, and transition to greener economies. Wealthier nations are expected to not only provide financial resources but also share technology and expertise to help developing countries achieve their climate goals.

The disparity in financial resources has been a longstanding challenge in international climate negotiations. Developing nations, many of which are already experiencing the adverse effects of climate change, argue that they need substantial financial support to implement mitigation and adaptation strategies. This includes investments in renewable energy, sustainable agriculture, infrastructure resilience, and disaster preparedness. Without this support, many developing countries fear they will struggle to meet their climate targets and adapt to inevitable changes.

COP 29 aims to build on the outcomes of previous conferences, particularly COP 28, which highlighted the urgent need for action on climate change. The last meeting underscored the necessity of increasing the ambition of climate pledges, known as Nationally Determined Contributions (NDCs). Delegates will seek to solidify commitments made in earlier meetings and push for more ambitious targets to limit global warming to 1.5 degrees Celsius above pre-industrial levels.

One of the significant outcomes expected from COP 29 is the establishment of clearer pathways for fulfilling financial commitments made in past agreements. For instance, the 2009 Copenhagen Accord included a promise from developed nations to provide $100 billion annually by 2020 to support climate action in developing countries. However, this goal has not yet been fully realised, and many developing nations are still waiting for adequate funding. COP 29 must address these gaps and create a more reliable framework for climate finance.

Climate change is a global issue that transcends borders, and its impacts are felt unevenly across the globe. Wealthy nations have historically contributed the most to greenhouse gas emissions, and there is a growing recognition of their responsibility to assist those who are less equipped to deal with the crisis. The success of COP 29 will depend on the willingness of all countries to work together, not only in terms of financial commitments but also through political will and public engagement to drive meaningful change.

A significant aspect of this cooperation is technology transfer. Developing nations often lack access to the latest technologies that could help them mitigate their emissions or adapt to climate impacts. Wealthy nations are expected to facilitate the transfer of clean technologies, making it easier for developing countries to leapfrog to sustainable energy solutions. This includes investments in solar, wind, and other renewable energy sources, as well as innovative practices in agriculture and waste management. 

In addition to government negotiations, COP 29 will also highlight the role of non-state actors, including businesses, civil society, and local communities. Many companies are increasingly recognising the importance of sustainability and are committing to reducing their carbon footprints. Their involvement can help drive innovation and investment in climate solutions. Civil society organisations play a crucial role in holding governments accountable and ensuring that the voices of vulnerable communities are heard in the decision-making process.

The participation of youth and indigenous groups will also be a focal point at COP 29. These groups often bear the brunt of climate impacts and have unique insights and solutions to offer. Their advocacy can help ensure that climate policies are equitable and just, addressing the needs of those most affected by climate change.

As the world prepares for COP 29, the focus will be on whether rich nations can rise to the occasion and meet the financial needs of developing countries. The outcomes of this conference could significantly influence global climate action and the future of international cooperation in addressing one of the most pressing challenges of our time. With the climate crisis intensifying, COP 29 presents a pivotal moment for nations to demonstrate their commitment to solidarity and a sustainable future for all. The decisions made in Baku may set the tone for the years to come, determining not only the trajectory of climate policies but also the resilience of communities worldwide in the face of climate change.