The global climate conference COP29 opened with a stark warning from the World Meteorological Organisation (WMO), as secretary-general Celeste Saulo announced that 2024 is on track to be the hottest year ever recorded.
“Once again, we’re sending out a red alert, one of many that WMO has issued in less than one year. And this is another SOS to the planet,” Saulo cautioned. This marks an alarming trajectory, with 2015-2024 expected to be the hottest decade on record.
Wednesday’s negotiations witnessed developing countries rejecting the draft New Collective Quantified Goal (NCQG) text, demanding a more concrete agreement to ensure financial support for climate adaptation and mitigation.
African Group of Negotiators (AGN) Chair Ali Mohamed emphasised the stakes for the continent, stating that “simply reaching an agreement for the sake of agreement is not good enough.”
The AGN is calling for a revised climate finance target of at least $1.3 trillion per year, aligning with the principle of Common But Differentiated Responsibilities and Respective Capabilities (CBDR-RC).
Meanwhile, the influence of fossil fuel lobbyists has again come under scrutiny. An analysis of COP29 attendee badges revealed that 1,773 fossil fuel industry representatives are in attendance, outnumbering delegates from the 10 most climate-vulnerable countries combined.
Former UNFCCC Chief Christina Figueres and International Climate Politics Hub Director Catherine Abreu voiced concerns over the overwhelming industry presence, with Abreu advocating for “a firewall between all things climate change… and all things fossil fuels.”
Also in focus were record-high global carbon dioxide emissions. The Global Carbon Budget report revealed that emissions are expected to hit 41.6 billion metric tons in 2024, an increase from last year.
Professor Pierre Friedlingstein, the report’s lead author, noted the urgent need for “rapid and deep cuts” to emissions. The G77 + China joined AGN in pressing for substantial financial commitments from developed countries, calling for a robust NCQG framework to support developing nations in achieving the Paris Agreement’s targets.
Multilateral Development Banks (MDBs) also highlighted the critical nature of climate financing, committing to provide $120 billion annually by 2030, a 60% increase from 2023’s $74.7 billion.
The funds are expected to target low- and middle-income countries, with $42 billion dedicated to adaptation measures.
In an unexpected move, COP29’s presidency accelerated the adoption of carbon market guidelines under Article 6.4 of the Paris Agreement, setting new rules for carbon removals.
However, experts, including Greenpeace Africa’s Amos Wemanya, have criticised the fast-tracked process, warning it could set a “poor precedent for transparency and proper” governance.
Amid these high-stakes discussions, African leaders emphasised the immediate impact of the climate crisis on their nations. Zimbabwean President Emmerson Mnangagwa referenced a severe drought affecting his country, while Kenyan Prime Cabinet Secretary Musalia Mudavadi reiterated calls for $1.3 trillion in annual climate finance starting in 2025.
