The world is dangerously close to the 1.5°C temperature rise limit set by the Paris Agreement, and the UN warns that unless course is reversed, the world is on track for a catastrophic warming of 3.1°C by the end of the century. , humanity is spewing more planet-warming gases than ever before. These alarming signals make it abundantly clear that we need to massively reduce our collective carbon footprint, but most of the world's governments are fighting back.

At the previous climate conference, COP28, governments made a historic pledge to transition away from fossil fuels, but failed to translate this into additional action or ambition. In addition, they also failed to meet the voluntary carbon market commitments they announced in Dubai.

With another oil nation, Azerbaijan, deepening its commitment and investment in fossil fuels at the forefront of COP29, and other countries either increasing their emissions or not reducing them fast enough, the prospects for COP29 appear bleak. But it is imperative that governments take their collective responsibility and halt our spiraling descent into climate disaster. (More on carbonmarketwatch.org)

Everything you need to know about this year's three big environmental conferences. Climate change, biodiversity loss, land degradation, desertification and drought are deeply interconnected aspects of the planetary crisis.

With most of the 2030 Sustainable Development Goals (SDGs) currently off track, we must act urgently to manage this crisis and secure a livable future.

This year, three major environmental Conferences of the Parties (COP) are being held over the course of six weeks.

They represent a unique opportunity to solve our most pressing problems head-on and together. The challenges we face do not exist in isolation, and neither do solutions. The outcome of the COP is crucial for our future.

Here's what you need to know.

For the CoR delegation at COP28 and for subnational governments around the world, COP28 was not only a significant step forward in global climate efforts with the historic agreement to transition away from fossil fuels, but also represented a breakthrough in a long-standing challenge for subnational governments around the world: that their voice was heard at UN summits.

COP28 witnessed an unprecedented commitment by the COP28 Presidency, which hosted the first ever Local Climate Action Summit (LCAS) and the second Ministerial Meeting on Urbanization and Climate Change as part of the official COP agenda. In addition, more than 70 countries supported the COP28 Coalition for High Ambition Multilevel Partnerships (CHAMP), committing to work with their subnational governments to update their future climate plans by COP30 in 2025. (More on cor.europa.eu)

This November, COP29 in Baku, Azerbaijan follows a turbulent year marked by global conflicts and worsening climate impacts. With high expectations, the summit will address critical issues such as climate finance, the transition to renewable energy sources, nature-based solutions and adaptation strategies. The stakes are high as the outcomes of COP29 will shape global efforts to meet the goals of the Paris Agreement and secure a sustainable future.

50 years after the end of mankind's worst and most destructive war, a historic gathering was held in the bustling city of Berlin, in a similar setting in 1995. Delegates from around the world gathered for the inaugural Conference of the Parties (COP), which was born out of growing concern about a changing climate. (Manish Dabkara , more at etedge-insights.com)

There must be global cooperation in the fight against climate change. Alessandra Roccasalvo, acting representative of the United Nations Development Program (UNDP) in Azerbaijan, stated this during her speech at the international forum of ombudsmen in Baku, reports Azernews.

She noted that a new generation of young people is actively involved in the fight against climate change.

"The lack of water is such a big problem that future generations will suffer from it. They will not be able to do what the old generation did. Azerbaijan will host COP29. It is not an easy task, but I am proud to participate. Through joint discussions, we can fight climate change and find solutions," she said. (Nazrin Abdul, more at azernews.az)

The 29th session of the Conference of Parties (COP29) of the United Nations Framework Convention on Climate Change (UNFCCC) will take place in Baku, Azerbaijan. This event will include the 29th session of the Conference of the Parties (COP 29), the 19th session of the COP serving as the Meeting of the Parties to the Kyoto Protocol (CMP 19) and the sixth session of the COP serving as the Meeting of the Parties to the Paris Agreement (CMA 6), which will inter alia will meet to finalize the first enhanced transparency framework and the new collective quantified financial target. (More on unep.org)

The United Nations Framework Convention on Climate Change (UNFCCC) conference will be held from November 11 to 22, 2024 in Baku, the capital of Azerbaijan. This will be the 29th session of this global gathering commonly known as the Conference of the Parties (COP). The president-designate is Mukhtar Babayev, minister responsible for ecology and natural resources of the government of Azerbaijan.

The incoming president's vision is to "raise ambition and enable action" and outline ways to turn this vision into reality. This is another session of global negotiations on climate change issues with widely divided positions.

Priority topics for discussion include climate finance and the NCQG issue, UNFCCC Article 6 on capital mobilizing the dust engine repair, increasing the loss and damage fund and advancing adaptation. (More on thenational.com)

In recent developments in the European Union's energy and climate policy, Kadri Simson, the European Union's Commissioner for Energy, expressed considerable concern about the progress of national climate plans. During a press conference on the state of the "Energy Union 2024", Simson stressed the urgent need for EU countries to submit their missing Nationally Determined Contributions (NDCs). These plans are key to meeting the EU's climate goals and boosting investor confidence in the transition to a greener energy future. The urgency of the matter underlines the wider context of the EU's efforts to address its dependence on fossil fuels and strengthen the renewable energy sector.

"I call on the EU countries to present the missing national energy and climate plans. To date, we have received only 10 final plans (there are 27 countries in the EU). We are already way past the deadline. These plans are necessary to shift liabilities and build investor confidence." – emphasized Samson. (Nazrin Abdul, more at azernews.az)

The main topic of the COP29 conference, known as the "financial COP", will be a significant increase in the climate ambitions of individual countries and obtaining the necessary funds for their implementation. The Baku climate summit will focus on four main themes: loss, damage, adaptation and mitigation. These aspects apply to the four pillars of climate action, in which countries invest in new infrastructure to protect the population from the most serious impacts of climate change, switch to zero-emission technologies and systems, and compensate for damages if adaptation measures fail.

The host Azerbaijan sets several priorities aimed at obtaining funds for the implementation of climate measures:

1. New Collective Quantified Climate Change Financing Target: In 2009, delegates agreed to raise $100 billion by 2020 to help climate-vulnerable countries adapt to the crisis. At this year's conference in Baku, a new goal will be determined, which will be based on the current needs of these countries.

2. Comprehensive Loss and Damage Response Fund: This fund will provide support to low-income countries to recover from climate-related disasters that could not be prevented through mitigation or adaptation. During COP29, concrete Fund responses to these losses and damages will be discussed, particularly in relation to the New Collective Quantified Target.

3. Updated Nationally Determined Contributions (NDCs): Important for meeting the 1.5°C global warming limit under the Paris Agreement are individual countries' efforts to reduce greenhouse gas emissions, known as NDCs. Every five years, countries submit revised NDCs to the UNFCCC Secretariat, adapting their targets to current climate needs. Baku will be an opportunity for broader joint reflection before the next submission in 2025.

4. Article 6 of the Paris Agreement: Countries will address the details of achieving their climate goals through market and non-market mechanisms, particularly in the area of carbon credits. Regulation of these credits will be debated at COP29, with some preferring a less stringent approach, while others are calling for tighter rules to ensure transparency and protect human rights. These decisions will be fundamental for shaping the financing of climate measures and their global impact. (Co2AI)

The COP29 UN climate summit, to be held in Baku, Azerbaijan, will focus on climate finance and fundraising for developing countries that are severely affected by the climate crisis. (more…)

Today, the European Parliament continued discussions on the draft resolution that will shape the EU's negotiating position at the UN Cop 29 climate summit in November. But groups within the EU disagree on elements of the proposal, including the bloc's own targets for reducing emissions.

The European Commission has a preferred target of reducing greenhouse gas (GHG) emissions by 90 % by 2040 compared to the 1990 baseline, but this remains a proposal. The European Scientific Advisory Committee recommended reducing greenhouse gas emissions by 90-95 % in the same time frame.

“We will block any mention of the 95 percent [emission reduction]… We need more conditions for the 90 percent. We have to stop setting targets without knowing how to achieve them," German EPP MEP Peter Liese told Argus after a meeting of the parliament's environment committee. The centre-right EĽS is the largest party in the European Parliament.

Liese is pushing for the European Commission to focus more on "enabling" carbon capture and storage (CCS) infrastructure, speeding up the permitting process for renewables and decarbonizing industry. And while Liese personally supports the 90 percent greenhouse gas reduction target, he noted that his EPP group is "not there yet."

Spain's centre-left S&D member Javi Lopez wants the EU to maintain ambitious climate targets for the benefit of the whole planet, pushing for more ambitious Nationally Determined Contributions (NDCs). Emma Wiesner, a Swedish liberal from Renew Europe, also wants more ambitions, calling the current draft of the resolution "very weak". Wiesner criticized the omission of strong wording on the price of carbon in the resolution. Parliament should focus on setting a global price on CO2 and prevent Cop 29 discussions from using Article 6 of the Paris Agreement to obscure emissions reductions through removals, Wiesner said. Article 6 allows countries to transfer carbon credits earned by reducing greenhouse gas emissions to help other countries meet their climate goals.

And the groups are not yet aligned on climate finance - a topic set to take center stage at Cop 29. The EU cannot shoulder all the costs of climate action, Portugal's EPP member Lidia Pereira said. Countries such as China, Singapore and Saudi Arabia should also contribute more to climate finance, she said. Czech conservative ECR member Alexandr Vondra echoed this opinion. "It's impossible for us to pay the bills for the whole world," he said.

Austrian Greens member Lena Schilling wants any Baku deal to provide a new climate finance target after 2025 - the next phase of the current $100 billion a year target for international climate finance. Schilling further called on the EU to push for the phase-out of coal by 2030, gas by 2035 and oil "by 2040 at the latest" (Co2AI).

Conversations about the role and integrity of carbon credits have increased recently as governments and corporations around the world tackle the complex challenge of decarbonization. Most of the attention has been focused on building demand for these loans. The offer page is overlooked. Based on my experience as a front-line player in this market, I predict that even if demand increases, the credit supply crisis is likely to become a significant obstacle to the growth and efficiency of the carbon market.

Three reasons have influenced my current view. First, there are not enough quality credits to meet the requirements of a single global compliance market – the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). Forecasts by various agencies estimate that demand could be seven to fourteen times higher than supply, depending on the measures airlines take to reduce emissions, as well as the development of appropriate carbon registries and projects. (Sumant Sinha, more at forbes.com)

The 29th United Nations Climate Change Conference (COP29), scheduled to be held in Baku, Azerbaijan from November 11 to 22, 2024, aims to be a "Ceasefire COP" with calls for a one-month global ceasefire during the conference. "This initiative is inspired by the truce at the Olympic Games," said Deputy Minister of Foreign Affairs of the Republic of Azerbaijan and Chief Negotiator of COP29 Yalchin Rafiyev during an event in Brussels on July 10, 2024 organized by the Embassy of Azerbaijan in Brussels in cooperation. with the United Nations Development Program (UNDP).

The call for a cease-fire is "not only to promote peace, but also because military activities worldwide are the source of 5 % to 6 % of global emissions."

The meeting entitled "COP29: Strengthening Climate Action through Ambition, Implementation and Inclusiveness" allowed Azerbaijan to present its ambitions as the host country of the next COP. (More on unric.org)

COP, which stands for Conference of the Parties, is a series of formal Conference of the Parties meetings where governments assess global efforts to make progress on the Paris Agreement and the Convention, as well as to limit global warming to 1.5°C, as indicated by the latest scientific evidence knowledge. At the COP, world leaders meet to measure progress and negotiate the best ways to tackle climate change.

Currently, the convention has 198 contracting parties (197 countries plus the European Union), which represents almost universal membership. The next conference will be held in Baku, Azerbaijan in November 2024.

Bolder plans for higher climate ambition in next round of NDCs, ETC calls on industry and government to work together to raise the ambition of the next round of Nationally Determined Contributions (NDCs) to COP30. If we are to limit the impact of climate change, NDCs can and must reflect technical potential and reinforce existing progress by setting more ambitious targets with stronger links to national policies.

Since the signing of the Paris Agreement at COP21, countries have been required to present and agree their national climate commitments every five years. These NDCs, as they are known, serve as high-level plans for national climate action by setting emission reduction targets for 10-year periods. The success of the transition to a low-carbon economy to date has been driven by the industry's response to the government's objectives of speeding up deployment and reducing costs. Recognizing the opportunity in the next round of NDCs, industry is calling on governments to prioritize delivering high-ambition NDCs that will provide certainty, unlock investment and accelerate technology uptake.  (More on climateaction.org)

At this early stage – with the NCQG due to be agreed at COP29 in Baku in November – many countries are keeping proposals for specific numbers close to their chests, particularly as the UN is due to publish a needs-setting report in October that will offer guidance. .

But the Arab group put forward a figure of $1.1 trillion a year from 2025 to 2029. Of that, $441 billion should come from public grants and the rest should be money mobilized from other sources, including loans offered at below-market rates.

The group, supported by the G77+China, she even suggested how developed countries could raise this amount - through a 5 % sales tax on developed country fashion, technology and arms companies - plus a financial transaction tax.

Military emissions account for 5 % of the global total, the Saudi negotiator said. This surprised many observers, as Saudi Arabia is the fourth largest the world's per capita source of military spending and receives much of its equipment from Western arms companies.

However, developed countries insist that they cannot earn all the money and are asking for help. The EU negotiator said the NCQG should be a "global effort," while Canada said it should come from a "broad set of contributors." In other words, richer and more polluting developing countries, such as the Gulf countries, should also play their part.

However, developing countries remain, at least publicly, united against these attempts to distinguish between them. They say that developed countries have the money - it's just a question of whether they have the "political will to prioritize climate change".

Another emerging difference is whether to include a sub-target for loss and damage in the NCQG. Developing countries want it, but developed countries are against it.

When asked why, an EU negotiator told Climate Home that the Paris Agreement "provides no basis for accountability or compensation" and that climate change funding under the NCQG should consist of only two categories: mitigation and adaptation.

Co-chairs of the talks - Australian Fiona Gilbert and South African Zaheer Fakir slimmed down the extensive 63-page document , which they submitted to Bonn, on only 45-page . Negotiators will continue to negotiate it this week. The interviews continue (and are broadcast live) today and tomorrow at 3-5 pm.

Following a global assessment at the COP28 conference in Dubai last year, which found that the world is not on track to meet the Paris Agreement's temperature targets, the parties to the Paris Agreement will meet again at the SB60 conference. This conference, also known as the Bonn Climate Change Conference, will take place from 3 to 13 June 2024 at the headquarters of the United Nations Framework Convention on Climate Change (UNFCCC) in Bonn, Germany. It is an interim session where members, observers and stakeholders come together for discussions and negotiations on climate issues. SB60 aims to follow up on the decisions from COP28 and prepare recommendations for COP29, which will be held in Baku, Azerbaijan, in November.

In this article, we'll provide an overview of SB60 and highlight key issues on the agenda for the next two weeks.

What is SB60?
SB60 is the 60th meeting of the Subsidiary Bodies under the UNFCCC, which includes the Subsidiary Body for Science and Technology Advice (SBSTA) and the Subsidiary Body for Implementation (SBI). These bodies help achieve the goals of the UNFCCC by carrying out preparatory work for the annual Convention of the Parties to the UNFCCC (COP). The results of SB60 will inform the next COP and provide important inputs for global climate change decision-making and action.

The SB60 sessions, held twice a year in June and at each COP, provide background knowledge on the UNFCCC's goals. The SBSTA links scientific knowledge, including the findings of the Intergovernmental Panel on Climate Change, with strategic needs, while the SBI oversees the implementation of the UNFCCC together with the Kyoto Protocol and the Paris Agreement. Together, SBSTA and SBI address common challenges and offer an integrated approach to addressing climate issues that includes technical, scientific and implementation aspects of mitigation, adaptation, financing and capacity building.

The work done on SB60 will lay the foundation for an effective and successful COP29 conference. The session will be attended by the COP29 Presidency, which will hold informal consultations with stakeholders to inform the work program and key outcomes that COP29 seeks to achieve. At the conclusion of the SB60 negotiations, a comprehensive action plan for COP 29 should be announced.

Key issues the industry will be watching over the next two weeks:

Carbon markets and Article 6

Article 6 will again be a key agenda item in SB60 after not enough texts were adopted at COP28 to progress the implementation of international carbon markets under Articles 6.2 and 6.4 of the Paris Agreement. These articles introduce a mechanism for trading emissions reductions between countries under the auspices of the UNFCCC, which is key to achieving the goals of the Paris Agreement and providing funding for developing countries.

Despite the lack of progress at COP28, countries will continue to engage in cooperation under Article 6 paragraph 2, with 84 bilateral agreements concluded between 10 buyers and 46 host countries by May 1, 2024. Issues around transparency, reporting and permissions remain unresolved. Permitting, including the question of whether host countries can revoke permits, is one of the challenges. The framework for the international register has not yet been agreed either.

Insufficient agreement on the methodologies of Article 6, par. 4 at COP28 caused a delay in the UNFCCC centralized credit mechanism. The supervisory body and a group of experts worked on the harmonization of the methodologies that will be provided on SB60 as an additional basis for decision-making.

In an informal note, the SBSTA chairman drew attention to the need to address a significant number of issues in a limited time. Issues of permits and registries will be the subject of negotiations on SB60, with draft text of decisions for electronic format for Article 6 para. 2 for notification of permitted activities. The Chair of the SBSTA invites the Parties to express their views and provide input on the draft text of the decisions. SB60 aims to ensure full operation of Article 6 in Baku.

The Lima Work Program on Gender Equality

The Lima Work Programme, established in 2014 at the COP20 conference, focuses on gender mainstreaming in climate policy and action. The first Gender Equality Action Plan (GAP) was created at COP23, and a five-year extension of the LWPG and GAP was agreed at COP25. The expanded GAP focuses on five priorities, including capacity building, gender balance, coherence, implementation and monitoring. A final review will begin at SB60 and conclude at SBI61 in November, taking stock of progress and identifying challenges and priorities.

Financing measures in the field of climate change

Global financial goals

One of the main areas to watch is progress on the creation of a new global financial goal (NCQG) at the end of SB60, with a decision expected at COP29. The previous goal of mobilizing USD 100 billion per year by 2020 was not met until 2022. The new goal, if ambitious enough, is expected to mobilize and implement financial flows between developed and developing countries.

Losses and damages

Loss and damage funding will be another important area of SB60, especially after the fund is agreed at COP28. This fund is intended to address the economic and non-economic impacts of climate change in developing countries. The third and final Glasgow Dialogue on Loss and Damage will take place on SB60. In the framework of the dialogue, they will focus on strengthening the coherence and coordination of funding, especially in terms of technical discussions and the development of new funding mechanisms.

The May 2023 Notes highlighted the limitations of existing mechanisms in providing funding for loss and damage compensation, which the Bridgetown Agenda 2022 seeks to address. Loss and damage funding is expected to be part of the new NCQG.

Strengthening the links between the technological and financial mechanisms of the UNFCCC calls on developed countries to support the transfer of climate technologies to developing countries. To support this goal, a financial mechanism was established in 1994 and a technology mechanism in 2010. SB60 will host a workshop to assess the linkages between these mechanisms to improve their coordination and effectiveness.

Vladanka Andreeva, UN Resident Coordinator in Azerbaijan, confirmed the United Nations' commitment to support Azerbaijan and actively participate in COP29-related efforts during the "29 Climate Talks: Road to COP29" event on Friday.

Andreeva mentioned that the UN intends to promote discussions within the country on the importance of reducing climate emissions. (Nargiz Mammadli, more at caspiannews.com)

The European Union and Azerbaijan will continue to strengthen cooperation in the field of energy policy, with the main focus on the development of renewable energy sources and the improvement of energy efficiency ahead of the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29), and the Azerbaijan Presidency will be the key to joining efforts about further reducing emissions, he said Tim McPhie , spokesperson for climate and energy in the European Commission.

According to him, COP29 will be the first stage of the evaluation of the fulfillment of the commitments made by the parties at last year's meeting - COP28 in Dubai, to triple the capacity of renewable energy sources and double energy efficiency. (More on report.az)