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The beginning of the COP29 is marked by Climate Finance, Absent Leaders and Trump Looming Large

Climate change, Indigenous communities, and the COP29 climate summit: Azerbaijan’s ambitious goal to increase greenhouse gas emissions by 2022

“To actually unchain ourselves from the colonial nature of the COP itself,” he said. The COP is based on the eradication of Indigenous nationhood. We won’t see significant change until the nationhood of Indigenous peoples is acknowledged and incorporated, because it’s built around the uphold of state nationhood.

At the COP29 the Local Communities and Indigenous Peoples Platform will focus on ensuring that there is no additional harm to Indigenous peoples and on building global Indigenous solidarity, says the Indigenous North American representative.

Eriel Deranger is an executive director at Indigenous Climate Action who is a member of the Athabasca Chipewyan First Nation.

Indigenous people hold a sliver of power at these meetings. They can give advice to the states that will listen to the wishes and needs of the Indigenous people.

Now Azerbaijan has set a new, ambitious goal for the summit — to increase global energy storage six-fold. When the sun is out and the wind is not blowing, stored energy can provide some back up for renewable energy.

Last year countries also agreed to double annual energy efficiency improvements “from around 2% to over 4% every year until 2030.” But IRENA reports there’s been little progress on meeting that goal.

“It is still possible to achieve this goal, but each year the target falls further out of reach,” Francesco La Camera, IRENA’s director-general says. “We made a shared commitment at COP28. Now it is time for us to deliver.”

Negotiations took place at the end of last year in the Middle East and they came to an agreement to transition away from fossil fuels. Trump pledges to boost US fossil-fuel production. Efforts to curb climate pollution are not on track, despite warnings from the United Nations before Trump took office. Global emissions rose to a new record in 2023, and scientists in the European Union say it’s “virtually certain” that 2024 will be the hottest year on record.

The problem is that wealthy countries weren’t fast to deliver. In 2022, they finally made good on their promise, providing developing nations with a record $115.9 billion in financing to cut climate pollution and adapt to rising temperatures.

Against that backdrop, money will be a focus of the UN climate summit in Azerbaijan, known as COP29. Entire economies that run on fossil fuel need to be restructured, along with countries that face extreme weather risks. Developing nations that have little responsibility for global warming are already suffering huge losses as the climate changes.

“I think for me, success is when the money is actually delivered,” says Vijaya Ramachandran, director for energy and development at The Breakthrough Institute. “What we really want to see is an increase in resources to poor countries that will actually enable them to tackle climate change. Instead, what we are seeing are these pronouncements.”

Donald Trump’s victory is a big deal at this summit. He has called climate change a “hoax.” During his first term, he withdrew the US from the Paris agreement.

The Norco-Quiens’ Guiding Principle: How the U.S. is going to start regulating global warming, and when will it stop?

“I remain very optimistic on the technology side,” says Rich Lesser, global chair of Boston Consulting Group. The goal is not set by us.

In Copenhagen in 2009, industrialized countries agreed to provide $100 billion of climate finance each year to developing countries, to help them with their climate actions (though this target was achieved for the first time only in 2022). Then, in Paris in 2015, countries agreed that a new, larger target should be set for helping developing countries from 2025 onward. And so the NCQG was born.

It requires virtually every country to pledge how much planet-warming pollution they’ll cut and to update those plans every few years. The objective is to limit global warming to well below 2 degrees Celsius compared to temperatures in the late 1800s, and ideally, no more than 1.5 degrees Celsius in order to reduce the risks of escalating extreme weather disasters.

“President-elect Trump has made very clear that he won’t wait six months to pull out of the Paris agreement like he did in his last term,” says Alden Meyer, senior associate at climate change think tank E3G. “He will pull out on day one.”

If the U.S. withdraws, the process takes a year. But the threat is already reshaping the diplomatic landscape. If Vice President Tammy Harris had been elected, countries would have relied on the U.S. leadership at the summit, says Meyer.

“With Trump’s victory, I think people will be looking to see other countries, other leaders pick up the slack,” Meyer says. “Particularly the European Union and China.”

The Impact of Climate Change on the Economy, the Environment, and the Middle East: What Should We Expect Next to the Giant Islands of the World?

Industrialized countries like the United States built their wealth producing and using fossil fuels — and that’s driven most of the planetary warming so far. Developing nations have less to contribute to pollution. But they’re suffering disproportionate harm because of their smaller economies and geographic locations.

That leaves the developing nations in a bind. The money they receive will be a small fraction of what’s needed. And they’ll be relying on wealthy neighbors that have been unreliable.

Every 12 months, at these conference, small islands with a few thousand inhabitants sit next to giant nations of the world to make decisions on how to curb climate change and its impacts.

The meeting starts today and tomorrow will feature speeches from the heads of state and their environment ministers. They will be replaced with the people who prepared the text of the conference’s decisions.

The final decisions are approved by consensus rather than voted on to avoid a stalemate, though the text of the decisions may be changed multiple times in order to reach an agreement. Here is what to look out for.

Government’s ambitions for renewable energy have not changed, according to a press release published alongside a new report.

The good news is that industry forecasts look brighter than what’s reflected in national policies, and renewables can grow, even with lawmakers dragging their feet on climate action. The cost of solar and wind has gone down in most of the world compared to fossil fuels, so there is a 29 percent increase in installations this year. There was an 87 percent increase in solar installations in 2023.

Can a “Retreat” on Inflation Reduction Require a Step Towards Action in Climate Change Negotiations?

More than $200 billion of clean energy investment in the US has been triggered by the Inflation Reduction Act, and Trump has said he will withdraw unspent funds from it.

China already dominate clean energy markets and a “retreat” on renewable energy could be a boon to competitors. Repealing the Inflation Reduction Act would deal a blow to US manufacturing and trade, likely ceding $80 billion in investment opportunities to other countries, according to a recent analysis by the Net Zero Industrial Policy Lab at Johns Hopkins University.

After all, an underlying question gnaws at every round of climate negotiations: how big of an impact can these splashy summits have unless delegates can turn promises into action at home?