The United Nations Climate Change Conference, known as COP29, begins today in Azerbaijan’s capital, Baku, and will run until November 22. Undoubtedly the most significant event shaping the future of the global fight against climate change, this year’s conference brings together world leaders, scientists, and activists to achieve new agreements and strategies.
On the first day of the conference, a formal opening and the start of key negotiations are scheduled, with a focus on defining financial mechanisms to support developing countries in reducing emissions and adapting to climate change.
The main goal of COP29 will be to maintain ambition to limit global warming to 1.5°C, in line with the latest scientific findings. An agreement on long-term strategies for achieving climate resilience is also expected, with particular emphasis on funding climate actions. One of the key objectives will be an agreement on a new, joint, and ambitious financial framework to enable effective resource mobilization for climate action support worldwide.
In addition to setting targets, the conference aims to secure significant financial investments needed to reduce emissions, protect vulnerable communities, and support adaptation to new climate conditions. Through this approach, COP29 aspires to achieve balanced outcomes, facilitating international cooperation that will contribute to the long-term protection of the planet and the global population from the impacts of climate change.
Alongside Serbia, other Western Balkan countries are expected to participate in COP29, including Croatia, Bosnia and Herzegovina, Montenegro, North Macedonia, and Albania. All these countries are signatories of the United Nations Framework Convention on Climate Change (UNFCCC) and regularly attend the annual conferences.
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Discrepancy Between Climate Goals and Energy Policies
After COP28, held in Dubai in 2023, many criticized the host country selection, given that it is one of the largest oil producers. Similar criticisms accompany this year’s COP29, as despite Azerbaijan’s plans to reduce emissions and increase the share of green energy in its energy mix, challenges remain in aligning these goals with an economy based on oil and gas extraction.
Azerbaijan’s oil industry encompasses large reserves in the Caspian Sea, and the country has significant natural gas reserves, raising questions about how the host of a climate summit can simultaneously advance ecological goals while developing fossil resources.
Criticism has also been directed at future hosts, such as Brazil, which also plans to increase fossil fuel production. The disconnect between the host countries’ energy strategies and global climate goals undermines trust in the negotiation process and its effectiveness in achieving long-term climate solutions.
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