From November 11 to 22, 2024, Baku - the capital of Azerbaijan - will host the 29th United Nations Climate Conference. The main challenge of this COP will be to achieve a new objective of financial support for rich countries in favour of developing countries. This support must be sufficient to enable developing countries to develop without resorting to fossil fuels, and to adapt to the consequences of climate change, to which they are more exposed and vulnerable, while contributing the least.
A COP29 that starts with additional challenges
COP 29 opens with major absences, such as the absence of French President Emmanuel Macron - whose country has been in open crisis with Azerbaijan since the Nagorno-Karabakh conflict. Also, it is worth noting the absence of German Chancellor Olaf Scholz, Indian Prime Minister Narendra Modi, Brazilian President Lula, Chinese President Xi Jinping.
In addition, the American delegation to COP29 is weakened by the election of Donald Trump to the White House, whose climate-sceptic positions are well known. Several lobbies in favour of fossil fuels are also present at COP29, sometimes as part of government delegations.
Increased financial needs
The group of African countries at COP29 now estimates that between 1000 and 1300 billion US dollars will be needed by Africa annually until 2035 to be able to meet the objectives of the Paris Agreement, namely to limit temperatures to 1.5 degrees Celsius - compared to pre-industrial levels - by the end of the century.
This would allow a transition to renewable energies, and would allow developing countries to adapt to climate change: to better resist it and repair the damage caused by floods, droughts, and cyclones that are multiplying.
According to the African Development Bank, Africa currently receives only 3% of global climate flows. Will COP29 on climate succeed in reaching out an agreement from rich countries to disburse more funds for the climate when we know that the COP16 in Cali (Colombia) on biodiversity failed to obtain an agreement for additional funds?