At COP29, global reliance on G20 leadership remains evident as COP29 President Mukhtar Babayev urged for clear mandates, calling it a “chance to show leadership.” Yet, the G20 statement from Rio omitted critical language on fossil fuel transitions, raising doubts about their commitment.
Meanwhile, the European Union reportedly considers a $200-300 billion annual commitment for the New Collective Quantified Goal (NCQG), as broader goals aim for $1 trillion. The new “Baku COP Presidencies Continuity Coalition for Climate and Health” highlights the need for integrated solutions, building on past successes like the Alliance for Transformative Action on Climate and Health (ATACH) and the Initiative on Climate Action and Nutrition (I-CAN). Can these initiatives deliver tangible progress in the face of rising challenges?
COP29 Relies on G20 for Decisive Decision
- COP29 President Mukhtar Babayev’s plea for G20 leaders to provide decisive direction highlights the global reliance on their influence.
- Their limited commitments raise questions about their ability to drive meaningful outcomes.
- While the leaders pledged support for COP29 negotiations and New Collective Quantified Goal NCQG success, the absence of specifics, like voluntary contributions from developing nations this increases uncertainty and slows progress on finance issues.
- The G20’s commitment to replenishing the International Development Association (IDA) fund, with contributions from both developed and large developing countries.
- The G20 leaders’ statement from Rio omitted a direct mention of transitioning away from fossil fuels, disappointing key negotiators at COP29.
“We want them to provide clear mandates to deliver at COP29 – this is their chance to show leadership.” – COP29 President Mukhtar Babayev
EU’s Climate Finance Commitment
- The European Union (EU) has yet to publicly propose a figure for the New Collective Quantified Goal (NCQG) but is reportedly considering $200-300 billion annually by 2035. This delay raises questions about its leadership role in global climate finance.
- The NCQG will encompass a broader framework, including finance from governments, private sectors, and multilateral development banks (MDBs) such as the World Bank, to achieve a total target of at least $1 trillion annually.
Integrating Climate and Health: A Unified Approach
- Azerbaijan, the UK, Egypt, the UAE, and Brazil have united to form the “Baku COP Presidencies Continuity Coalition for Climate and Health” emphasising the integration of climate and health policies.
- The coalition pledges to ensure that climate and health considerations are embedded across all governance and development sectors, reflecting a holistic approach to policy-making.
- This effort builds upon prior achievements, including the Alliance for Transformative Action on Climate and Health (ATACH) at COP26 and the Initiative on Climate Action and Nutrition (I-CAN) at COP27, aiming to create a cohesive framework for addressing climate and health challenges.
