{"id":5501,"date":"2024-12-15T06:21:46","date_gmt":"2024-12-15T06:21:46","guid":{"rendered":"https:\/\/asadmirza.in\/?p=5501"},"modified":"2024-12-15T06:21:47","modified_gmt":"2024-12-15T06:21:47","slug":"cop29-will-it-be-able-to-deliver","status":"publish","type":"post","link":"https:\/\/asadmirza.in\/?p=5501","title":{"rendered":"COP29: Will it be able to deliver?"},"content":{"rendered":"<div class=\"pvc_clear\"><\/div><p id=\"pvc_stats_5501\" class=\"pvc_stats all  \" data-element-id=\"5501\" style=\"\"><i class=\"pvc-stats-icon medium\" aria-hidden=\"true\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" version=\"1.0\" viewBox=\"0 0 502 315\" preserveAspectRatio=\"xMidYMid meet\"><g transform=\"translate(0,332) scale(0.1,-0.1)\" fill=\"\" stroke=\"none\"><path d=\"M2394 3279 l-29 -30 -3 -207 c-2 -182 0 -211 15 -242 39 -76 157 -76 196 0 15 31 17 60 15 243 l-3 209 -33 29 c-26 23 -41 29 -80 29 -41 0 -53 -5 -78 -31z\"\/><path d=\"M3085 3251 c-45 -19 -58 -50 -96 -229 -47 -217 -49 -260 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428 349 672 473 66 33 121 60 123 61 2 0 -10 -19 -26 -42z\"\/><path d=\"M2375 1950 c-198 -44 -350 -190 -395 -379 -18 -76 -8 -221 19 -290 114 -284 457 -406 731 -260 98 52 188 154 231 260 27 69 37 214 19 290 -38 163 -166 304 -326 360 -67 23 -215 33 -279 19z\"\/><\/g><\/svg><\/i> <img loading=\"lazy\" decoding=\"async\" width=\"16\" height=\"16\" alt=\"Loading\" src=\"https:\/\/asadmirza.in\/wp-content\/plugins\/page-views-count\/ajax-loader-2x.gif\" border=0 \/><\/p><div class=\"pvc_clear\"><\/div>\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"683\" height=\"1024\" data-id=\"5502\" src=\"https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e1-5-683x1024.jpg\" alt=\"\" class=\"wp-image-5502\" srcset=\"https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e1-5-683x1024.jpg 683w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e1-5-200x300.jpg 200w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e1-5-768x1152.jpg 768w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e1-5-1024x1536.jpg 1024w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e1-5.jpg 1067w\" sizes=\"auto, (max-width: 683px) 100vw, 683px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"683\" height=\"1024\" data-id=\"5504\" src=\"https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e3-4-683x1024.jpg\" alt=\"\" class=\"wp-image-5504\" srcset=\"https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e3-4-683x1024.jpg 683w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e3-4-200x300.jpg 200w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e3-4-768x1152.jpg 768w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e3-4-1024x1536.jpg 1024w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e3-4.jpg 1067w\" sizes=\"auto, (max-width: 683px) 100vw, 683px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"683\" height=\"1024\" data-id=\"5503\" src=\"https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e2-5-683x1024.jpg\" alt=\"\" class=\"wp-image-5503\" srcset=\"https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e2-5-683x1024.jpg 683w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e2-5-200x300.jpg 200w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e2-5-768x1152.jpg 768w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e2-5-1024x1536.jpg 1024w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e2-5.jpg 1067w\" sizes=\"auto, (max-width: 683px) 100vw, 683px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"683\" height=\"1024\" data-id=\"5505\" src=\"https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e4-2-683x1024.jpg\" alt=\"\" class=\"wp-image-5505\" srcset=\"https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e4-2-683x1024.jpg 683w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e4-2-200x300.jpg 200w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e4-2-768x1152.jpg 768w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e4-2-1024x1536.jpg 1024w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/12\/e4-2.jpg 1067w\" sizes=\"auto, (max-width: 683px) 100vw, 683px\" \/><\/figure>\n<\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.dailyexcelsior.com\/cop29-will-it-be-able-to-deliver\/\n\">https:\/\/www.dailyexcelsior.com\/cop29-will-it-be-able-to-deliver\/<\/a><\/li><li><a href=\"https:\/\/www.dailyexcelsior.com\/cop29-will-it-be-able-to-deliver\/#google_vignette\n\">https:\/\/www.dailyexcelsior.com\/cop29-will-it-be-able-to-deliver\/#google_vignette<\/a><\/li><li><a href=\"https:\/\/kashmirlife.net\/will-cop29-be-able-to-deliver-373356\/#google_vignette\n\">https:\/\/kashmirlife.net\/will-cop29-be-able-to-deliver-373356\/#google_vignette<\/a><\/li><li><a href=\"https:\/\/thekashmirimages.com\/2024\/11\/19\/cop29-will-it-be-able-to-deliver\/\n\">https:\/\/thekashmirimages.com\/2024\/11\/19\/cop29-will-it-be-able-to-deliver\/<\/a><\/li><li><a href=\"https:\/\/www.sentinelassam.com\/more-news\/editorial\/cop29-will-it-be-able-to-deliver\n\">https:\/\/www.sentinelassam.com\/more-news\/editorial\/cop29-will-it-be-able-to-deliver<\/a><\/li><li><a href=\"https:\/\/ummid.com\/news\/2024\/november\/18-11-2024\/will-cop29-be-able-to-deliver.html\n\">https:\/\/ummid.com\/news\/2024\/november\/18-11-2024\/will-cop29-be-able-to-deliver.html<\/a><\/li><li><a href=\"https:\/\/theindianawaaz.com\/cop29-will-it-bear-some-fruit\/\">https:\/\/theindianawaaz.com\/cop29-will-it-bear-some-fruit\/<\/a><\/li><\/ul>\n\n\n\n<p>Last week, the world\u2019s biggest annual climate conference kicked off in Baku, Azerbaijan. This year\u2019s UN climate summit is struggling to focus attention on the health of the planet, with turbulent geopolitics, a confrontational host and the re-election of US climate skeptic Donald Trump stealing the limelight.<\/p>\n\n\n\n<p>The annual conference that aims to produce global agreements to limit the warming which is tipping the world towards climate catastrophe is becoming a forum of frustration for negotiators seeking a finance deal.<\/p>\n\n\n\n<p>Oil producer Azerbaijan, the host of this year\u2019s 29th Conference of the Parties (COP), is tasked with the limited goal of rallying countries around a target for annual financial aid for developing nations facing the rising costs of climate change.<\/p>\n\n\n\n<p>It is a mandate that pales in comparison with the agenda for next year\u2019s confabulations in Brazil\u2019s Amazon rainforest, where governments will chart a course for the next decade. But it is considered all-important for many countries ahead of Brazil\u2019s COP30 and achieving it requires subtle diplomatic skills.<\/p>\n\n\n\n<p>The trickiest issue facing the climate negotiations at COP29, goes by the fancy name of the \u201cnew collective quantified goal\u201d (NCQG), as it sounds more dignified than a \u201cclimate dereliction fun\u201d to be funded by the developed world. The NCQG is meant to replace the longstanding goal of an annual spending $100bn a year on climate finance from richer countries to poorer ones. It is supposed to be in place by next year, when all countries are expected to say what they are going to do to cut emissions in the next ten years.<\/p>\n\n\n\n<p>A report in The Economist says that the good news is that in many of these countries, a little help from public financing can go a long way towards luring investors and cutting down borrowing costs.&nbsp;<\/p>\n\n\n\n<p>Another trickier issue is how to disburse this fund? The Economist\u2019s report says that a package of bilateral deals between rich and developing countries would expose funding to geopolitical whims and make it hard to track total commitments. It would probably be wasteful, too, as rich-world governments seek a return on their investments by demanding that the money is used to purchase their own equipment.&nbsp;<\/p>\n\n\n\n<p>The Economist\u2019s report further says that it would be wiser to entrust the World Bank with such a mission. That would require the lender to grow: the ETC\u2019s recommended climate-finance pot is worth about six times what the bank doles out in a year.&nbsp;<\/p>\n\n\n\n<p>The bank would need a mighty capital injection, too. Geopolitical tensions complicate the task. Two stumbling blocks seem to be China, which is unlikely to be more generous without more of a say, and America, which refuses to give up its veto over the institution\u2019s decisions.<\/p>\n\n\n\n<p>A report in Forbes says that experts feel that sticking with the status quo would be a huge wasted opportunity. Rich countries would get a much bigger bang for their buck \u2013 in terms of global emissions reductions \u2013 by spending money in the Global South.&nbsp;<\/p>\n\n\n\n<p>In real terms COP29 is expected to build on the carbon market groundwork laid in prior COPs, aiming for a regulatory framework that ensures real, measurable emissions cuts. The International Institute for Sustainable Development says that clearer guidelines are essential for a functional and fair carbon market.&nbsp;<\/p>\n\n\n\n<p>COP29 could be a decisive moment for determining how carbon markets can become a reliable tool for financing climate action or whether they will remain mired in regulatory uncertainty.<\/p>\n\n\n\n<p>In communicating priorities for COP29, the United Nations outlined the importance of ensuring that vulnerable countries have access to resources without bureaucratic delays. Climate-driven economic losses are estimated in the hundreds of billions annually, and without improved climate funding, vulnerable countries face extreme financial strain.&nbsp;<\/p>\n\n\n\n<p>In Baku, discussions are expected to focus on setting up the fund\u2019s governance structure, mobilising resources, and scaling-up the fund to close the gap between current pledges and actual needs. It is expected that any progress on adaptation and loss-and-damage could bring life-changing support for millions of people worldwide, providing an essential safety net as climate impacts intensify.<\/p>\n\n\n\n<p>Meanwhile, India expressed serious concern about the progress the COP29 made during the week. A GoI statement stated, \u201cWe have seen no progress in matters that are critical for developing countries. Our part of the world is facing some of the worst impacts of climate change, with far lower capacity to recover from those impacts or to adapt to the changes to the climatic system for which we are not responsible.\u201d<\/p>\n\n\n\n<p>India stressed that the Mitigation Ambition and Implementation Work Programme (MWP at Sharm Al-Sheikh was established with specific mandate that it shall be operationalised through focused exchanges of views, information and ideas, noting that the outcomes of the work programme will be non-prescriptive, non-punitive, facilitative, respectful of national sovereignty and national circumstances, while taking into account the nationally determined nature of nationally determined contributions and will not impose new targets or goal.<\/p>\n\n\n\n<p>Expressing frustration on the unwillingness to engage on this issue by the Developed countries during the past week, India asserted that those with the highest capacity to take climate action have continuously shifted goalposts, delayed climate action, and consumed a highly disproportionate share of the global carbon budget.<\/p>\n\n\n\n<p>But these solutions require integration within wider climate policies and identifying areas where real action is needed. COP29 will likely see a stronger emphasis on nature-positive initiatives, which not only support carbon sequestration but also enhance resilience against climate impacts like floods and droughts.<\/p>\n\n\n\n<p>As noted by the World Economic Forum, protecting nature is essential for sustaining the world\u2019s carbon sinks, including forests, which currently absorb about 7.6 billion metric tons of CO\u2082 each year. Recognising and scaling nature-based solutions would play a role in closing the emissions gap and offer numerous co-benefits for ecosystems and biodiversity.<\/p>\n\n\n\n<p>On November 12th, multilateral development lenders including the World Bank pledged to increase their climate finance to $120bn by 2030 (including $42bn for adaptation). In Baku, any breakdown of talks over climate finance would be an abdication of responsibilities by the developed world. It would also be a massive failure of imagination, if delegates are unable to thrash out a workable formula at this year\u2019s COP.<\/p>\n\n\n\n<p>In the face of accelerating climate impacts, COP29 offers a critical opportunity for countries to act decisively. It is one of the last chances left to limit global warming below potentially catastrophic levels. From ramping up national commitments to refining the structure of carbon markets, there is much work to be done.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"pvc_clear\"><\/div>\n<p id=\"pvc_stats_5501\" class=\"pvc_stats all  \" data-element-id=\"5501\" style=\"\"><i class=\"pvc-stats-icon medium\" aria-hidden=\"true\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" version=\"1.0\" viewBox=\"0 0 502 315\" preserveAspectRatio=\"xMidYMid meet\"><g transform=\"translate(0,332) scale(0.1,-0.1)\" fill=\"\" stroke=\"none\"><path d=\"M2394 3279 l-29 -30 -3 -207 c-2 -182 0 -211 15 -242 39 -76 157 -76 196 0 15 31 17 60 15 243 l-3 209 -33 29 c-26 23 -41 29 -80 29 -41 0 -53 -5 -78 -31z\"\/><path d=\"M3085 3251 c-45 -19 -58 -50 -96 -229 -47 -217 -49 -260 -13 -295 52 -53 146 -42 177 20 16 31 87 366 87 410 0 70 -86 122 -155 94z\"\/><path d=\"M1751 3234 c-13 -9 -29 -31 -37 -50 -12 -29 -10 -49 21 -204 19 -94 39 -189 45 -210 14 -50 54 -80 110 -80 34 0 48 6 76 34 21 21 34 44 34 59 0 14 -18 113 -40 219 -37 178 -43 195 -70 221 -36 32 -101 37 -139 11z\"\/><path d=\"M1163 3073 c-36 -7 -73 -59 -73 -102 0 -56 133 -378 171 -413 34 -32 83 -37 129 -13 70 36 67 87 -16 290 -86 209 -89 214 -129 231 -35 14 -42 15 -82 7z\"\/><path d=\"M3689 3066 c-15 -9 -33 -30 -42 -48 -48 -103 -147 -355 -147 -375 0 -98 131 -148 192 -74 13 15 57 108 97 206 80 196 84 226 37 273 -30 30 -99 39 -137 18z\"\/><path d=\"M583 2784 c-38 -19 -67 -74 -58 -113 9 -42 211 -354 242 -373 16 -10 45 -18 66 -18 51 0 107 52 107 100 0 39 -1 41 -124 234 -80 126 -108 162 -133 173 -41 17 -61 16 -100 -3z\"\/><path d=\"M4250 2784 c-14 -9 -74 -91 -133 -183 -95 -150 -107 -173 -107 -213 0 -55 33 -94 87 -104 67 -13 90 8 211 198 130 202 137 225 78 284 -27 27 -42 34 -72 34 -22 0 -50 -8 -64 -16z\"\/><path d=\"M2275 2693 c-553 -48 -1095 -270 -1585 -649 -135 -104 -459 -423 -483 -476 -23 -49 -22 -139 2 -186 73 -142 361 -457 571 -626 285 -228 642 -407 990 -497 242 -63 336 -73 660 -74 310 0 370 5 595 52 535 111 1045 392 1455 803 122 121 250 273 275 326 19 41 19 137 0 174 -41 79 -309 363 -465 492 -447 370 -946 591 -1479 653 -113 14 -422 18 -536 8z m395 -428 c171 -34 330 -124 456 -258 112 -119 167 -219 211 -378 27 -96 24 -300 -5 -401 -72 -255 -236 -447 -474 -557 -132 -62 -201 -76 -368 -76 -167 0 -236 14 -368 76 -213 98 -373 271 -451 485 -162 444 86 934 547 1084 153 49 292 57 452 25z m909 -232 c222 -123 408 -262 593 -441 76 -74 138 -139 138 -144 0 -16 -233 -242 -330 -319 -155 -123 -309 -223 -461 -299 l-81 -41 32 46 c18 26 49 83 70 128 143 306 141 649 -6 957 -25 52 -61 116 -79 142 l-34 47 45 -20 c26 -10 76 -36 113 -56z m-2057 25 c-40 -58 -105 -190 -130 -263 -110 -324 -59 -707 132 -981 25 -35 42 -64 37 -64 -19 0 -241 119 -326 174 -188 122 -406 314 -532 468 l-58 71 108 103 c185 178 428 349 672 473 66 33 121 60 123 61 2 0 -10 -19 -26 -42z\"\/><path d=\"M2375 1950 c-198 -44 -350 -190 -395 -379 -18 -76 -8 -221 19 -290 114 -284 457 -406 731 -260 98 52 188 154 231 260 27 69 37 214 19 290 -38 163 -166 304 -326 360 -67 23 -215 33 -279 19z\"\/><\/g><\/svg><\/i> <img loading=\"lazy\" decoding=\"async\" width=\"16\" height=\"16\" alt=\"Loading\" src=\"https:\/\/asadmirza.in\/wp-content\/plugins\/page-views-count\/ajax-loader-2x.gif\" border=0 \/><\/p>\n<div class=\"pvc_clear\"><\/div>\n<p>https:\/\/www.dailyexcelsior.com\/cop29-will-it-be-able-to-deliver\/ https:\/\/www.dailyexcelsior.com\/cop29-will-it-be-able-to-deliver\/#google_vignette https:\/\/kashmirlife.net\/will-cop29-be-able-to-deliver-373356\/#google_vignette https:\/\/thekashmirimages.com\/2024\/11\/19\/cop29-will-it-be-able-to-deliver\/ https:\/\/www.sentinelassam.com\/more-news\/editorial\/cop29-will-it-be-able-to-deliver https:\/\/ummid.com\/news\/2024\/november\/18-11-2024\/will-cop29-be-able-to-deliver.html https:\/\/theindianawaaz.com\/cop29-will-it-bear-some-fruit\/ Last week, the world\u2019s biggest annual climate conference kicked off in Baku, Azerbaijan. This year\u2019s UN climate summit is struggling to focus attention on the health of the planet, with turbulent geopolitics, a confrontational host and the re-election of US climate skeptic Donald Trump stealing the limelight. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173,83],"tags":[],"class_list":["post-5501","post","type-post","status-publish","format-standard","hentry","category-december-2024","category-latest-articles-in-english-all"],"a3_pvc":{"activated":true,"total_views":95,"today_views":0},"_links":{"self":[{"href":"https:\/\/asadmirza.in\/index.php?rest_route=\/wp\/v2\/posts\/5501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/asadmirza.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/asadmirza.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/asadmirza.in\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/asadmirza.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5501"}],"version-history":[{"count":1,"href":"https:\/\/asadmirza.in\/index.php?rest_route=\/wp\/v2\/posts\/5501\/revisions"}],"predecessor-version":[{"id":5506,"href":"https:\/\/asadmirza.in\/index.php?rest_route=\/wp\/v2\/posts\/5501\/revisions\/5506"}],"wp:attachment":[{"href":"https:\/\/asadmirza.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/asadmirza.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/asadmirza.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}