The COP29 climate summit is currently taking place in Baku, Azerbaijan, bringing together thousands of participants from across the globe to discuss the most pressing environmental challenges. This year’s summit, running from November 11 to 22, 2024, is a crucial moment for international climate negotiations as countries wrestle with how to curb the devastating impacts of climate change. However, the event has been overshadowed by political changes, notably the re-election of Donald Trump as U.S. president, whose climate policies may significantly alter the global approach to the climate crisis.

One of the most discussed aspects of COP29 is its location in Azerbaijan, a country whose economy is heavily dependent on fossil fuels. This decision has sparked criticism from climate activists, who argue that holding the summit in a nation that profits from oil and gas undermines the very goals of the conference. Activists like Greta Thunberg have labelled the summit a “greenwash conference,” accusing it of allowing oil-rich nations to use the climate agenda to promote their own interests while doing little to address the urgent need to reduce fossil fuel consumption.

The Azerbaijani government has come under scrutiny for its role in the global energy landscape. As a major oil and gas producer, Azerbaijan’s reliance on these resources stands in stark contrast to the goals of the United Nations Framework Convention on Climate Change (UNFCCC), which aims to limit global warming and reduce greenhouse gas emissions. The controversy surrounding the choice of host country adds a layer of tension to the ongoing debates at the summit.

COP29’s Objectives and Agenda

COP29 is being referred to as the “finance COP” due to its focus on funding efforts to reduce global emissions, particularly in low-income countries that are most vulnerable to the impacts of climate change. The summit’s main agenda includes discussions on financing the transition to green energy, with calls for increased investments in developing nations to help them mitigate and adapt to the effects of climate change.

A report from the UN indicates that emerging economies, excluding China, need more than $2 trillion annually by 2030 to halt global warming and achieve the goals set in the Paris Agreement. This figure underscores the gap between what is needed and the funds currently available, sparking debates over who should bear the financial responsibility. Some reports suggest that wealthy countries should contribute a larger share, while others argue that emerging economies, including China, must also increase their contributions to the climate fund.

At the heart of the negotiations are the Nationally Determined Contributions (NDCs), which are the plans each country submits to outline their commitments to reducing emissions. These NDCs must be updated every five years, with the next round of updates due in early 2025. COP29 is a pivotal opportunity for nations to finalize their targets, ensuring that they are aligned with the broader goal of limiting global temperature rise to well below 2°C above pre-industrial levels.

The re-election of Donald Trump has already cast a shadow over COP29. Trump has made it clear that he intends to revisit his decision to withdraw the United States from the Paris Agreement, potentially pulling the country out of the landmark climate pact for a second time. The U.S. is the world’s second-largest emitter of greenhouse gases, and a withdrawal from the Paris Agreement would have far-reaching consequences for global climate efforts.

During his previous term, Trump questioned the reality of climate change and rolled back numerous environmental protections, undermining efforts to reduce emissions in the U.S. While President Biden rejoined the Paris Agreement in 2021, Trump’s return to the White House raises concerns that U.S. commitment to global climate goals may once again falter.

Trump’s stance on climate change has always been controversial, with the president frequently downplaying its impacts and questioning the science behind global warming. As one of the world’s largest oil producers, the U.S. has a vested interest in maintaining its fossil fuel industry, which has contributed significantly to the country’s record-high emissions. The potential for a return to policies that prioritize fossil fuel production over climate action has alarmed environmentalists and raised questions about the future of global climate cooperation.

Financial Commitments and Climate Justice

A major point of contention at COP29 is the issue of financial commitments to help developing countries transition to clean energy and adapt to the impacts of climate change. In 2009, developed countries pledged to provide $100 billion annually to support climate action in lower-income nations. However, this commitment has faced significant delays, and poorer countries are now calling for a new, more substantial pledge of at least $1 trillion per year to fund climate action.

One of the key issues at COP29 will be how to mobilize this funding. Reports have suggested that countries like China and the United Arab Emirates, both of which are major carbon emitters, should contribute more to the climate fund, despite being classified as developing nations. This debate highlights the tensions between developed and emerging economies and the difficulty of reaching a consensus on how to divide the financial burden of climate action.

As the global climate crisis intensifies, countries around the world are facing increasingly severe impacts from climate change. In 2024, extreme weather events such as Hurricane Milton, which devastated parts of Florida and claimed at least 18 lives, highlighted the urgent need for stronger climate action. The European Union’s Copernicus Climate Change Service has stated that 2024 is on track to become the hottest year on record, a sobering reminder of the growing risks posed by global warming.

In response to these events, Ukrainian President Volodymyr Zelensky has called for stronger international support to address the climate crisis, emphasizing the need for global solidarity in the face of growing environmental threats. Ukraine’s ongoing conflict with Russia, coupled with the devastating impact of climate-related disasters, underscores the intersection of climate change and geopolitical instability. As world leaders gather in Baku, the need for coordinated global action has never been clearer.

What Progress Has Been Made Since COP28?

The 2023 COP28 summit in Dubai, UAE, marked a significant milestone in global climate negotiations by openly calling for a transition away from fossil fuels. This was the first time a COP text explicitly addressed the need to reduce reliance on fossil fuels. However, progress since then has been slow, with many countries struggling to meet the ambitious goals set in the Paris Agreement.

One of the major targets set at COP28 was to achieve net-zero emissions by 2050, with interim goals to triple global renewable energy capacity and double energy efficiency by 2030. While these targets are still in place, it remains to be seen whether they can be achieved, particularly in light of the continued reliance on fossil fuels in many regions.

In the lead-up to COP29, an International Energy Agency (IEA) tracker was established to monitor progress on these targets. The results so far have been mixed, with some countries making strides in renewable energy development while others continue to invest in fossil fuels. The challenge for COP29 will be to ensure that the commitments made in previous summits are upheld and that countries are held accountable for their progress.

Azerbaijan’s role in hosting COP29 has been contentious, given the country’s heavy reliance on oil and gas exports. The nation’s energy sector is responsible for the vast majority of its exports, and its economy is closely tied to fossil fuel production. This has led to accusations of “greenwashing,” with critics arguing that the summit is little more than a PR exercise for a country that continues to prioritize fossil fuel extraction over environmental sustainability.

Azerbaijan’s involvement in the climate agenda is further complicated by reports that the country’s deputy energy minister, Elnur Soltanov, secretly discussed new fossil fuel deals ahead of the summit. These revelations have raised concerns that the event may be used to further entrench the fossil fuel industry rather than drive meaningful climate action.

As the COP29 summit unfolds in Baku, the world’s leaders face a critical moment in the battle against climate change. With Donald Trump’s re-election looming large, questions remain about the future of global climate cooperation and the U.S. role in the Paris Agreement. Financial commitments to support developing countries, the transition away from fossil fuels, and the updating of Nationally Determined Contributions will be key issues at the summit. As climate-related disasters increase in frequency and severity, the need for urgent, coordinated global action has never been more pressing.