Next Monday in Baku, the capital of Azerbaijan, the 29th Conference of the Parties (COP29), the United Nations’ annual climate change summit, will begin.
This year’s event takes place amid a particularly complex backdrop: the election of Donald Trump as President of the United States, who is well known for his skepticism on global warming, and the likelihood that 2024 will go down as the hottest year on record.
The COP is an annual event that brings together representatives from the 197 countries that signed the 1992 UN Framework Convention on Climate Change. This year’s choice of host, a major oil and gas producer, was influenced by a Russian veto against the European Union, a strong supporter of Ukraine in the ongoing conflict.
The primary focus of this conference will be financing the essential measures needed to establish clean energy systems and make cities more resilient to extreme weather events.
Currently, financial resources are both insufficient and inaccessible, especially for the poorer nations. In Baku, negotiators will attempt to identify new ways of unlocking funds at affordable rates to promote alternative energy and implement adaptive measures.
During the conference, countries will also present their updated plans to reduce emissions, with the aim of reaching a new agreement that includes concrete commitments to address the climate crisis.
More than 100 heads of state will attend, including leaders from Finland, Kenya, Spain, and Turkey, while prominent absences include U.S. President Joe Biden and Israeli Prime Minister Benjamin Netanyahu.
Donald Trump’s election could have significant repercussions on global efforts to combat climate change. The former president has already indicated plans to scale back support for clean energy, increase fossil fuel production, and withdraw from the Paris Agreement once again. Such moves could dissuade other countries from reducing emissions swiftly and create an opportunity for China to take a leading role in international climate initiatives.
Beyond the climate challenges, the current geopolitical landscape, marked by conflicts in the Middle East and Ukraine, threatens to complicate the cooperation needed to find financial and operational solutions. This year’s summit will seek a delicate balance between economic interests and necessary actions to confront the global climate crisis.
