COP29 in Baku: A Moment for Realistic Climate Action

As we head into COP29 in Baku, I’m reminded of the crucial work that needs to be done to strike a balance between ambition and realism. Having attended three previous COPs, I’ve seen how vital these negotiations are for setting actionable climate goals—but I’ve also seen how important it is to ground these goals in practical solutions that can truly be implemented. This year, COP29 focuses on advancing finance, adaptation, loss and damage, and accountability, with a special emphasis on creating a sustainable energy future that includes nuclear energy and carbon capture and storage (CCS). These COP discussions are set to be pivotal, especially as they aim to define a more sustainable, inclusive path forward.

Setting a New Finance Target: The New Collective Quantified Goal (NCQG)

Central to COP29’s agenda is the New Collective Quantified Goal (NCQG) on climate finance, designed to replace the previous $100 billion annual pledge from developed to developing nations.

The NCQG glossary has been developed to provide stakeholders and advocates with accessible definitions of complex financial terms. This will help ensure that finance discussions are inclusive, understandable, and actionable, fostering a common language among countries. The glossary will be invaluable in navigating questions around how much financing is needed, who will contribute, and how we ensure that funds reach the communities that need them most.

Several core questions surrounding the NCQG need to be addressed. Firstly, how to find the balance between ambition and feasibility: how ambitious should the NCQG be, and what can realistically be achieved given the economic challenges faced by both developed and developing nations? It is also important to examine how funding can be structured to prioritise adaptation and resilience efforts alongside mitigation. Transparency and accountability are critical: what frameworks can be established to ensure that NCQG funds are used effectively and are traceable, thereby reducing the risk of misallocation?

Adaptation and Loss and Damage

At COP29, adaptation will once again be a top priority, particularly for the countries already suffering the most from climate impacts. The Loss and Damage Fund, established at COP27, was a significant win, but now it must be structured to deliver results. COP29 will focus on developing mechanisms to ensure that this fund is accessible, practical, and responsive to the needs of affected communities. Countries facing extreme weather events, rising sea levels, and other climate-related disasters are calling for streamlined processes that get aid to them swiftly, without complex administrative hurdles.

Adaptation finance discussions are likely to centre on building resilient infrastructure, establishing early warning systems, and developing strategies to protect water, food, and energy resources. But it’s not just about adaptation—it’s about capacity building. Communities need tools, skills, and local decision-making power to craft their own resilience strategies. At COP29, developed countries will need to demonstrate their commitment to empowering these communities.

Key points:

• Adaptation funding needs to be front-loaded within the NCQG, ensuring that at-risk regions can make meaningful changes.
• Loss and damage support must be timely, accessible, and directly available to those who need it most, avoiding unnecessary bureaucratic barriers.
• Capacity-building programs should be prioritised, empowering communities to design and implement their own resilience strategies.

Energy Transition: A Realistic, Inclusive Approach with Nuclear and CCS

One of the critical discussions at COP29 will be around the energy transition, with an emphasis on a realistic and practical approach to decarbonisation. While renewables remain essential, they alone cannot meet the world’s growing energy needs sustainably. A balanced energy mix—including nuclear energy and carbon capture and storage (CCS)—is increasingly recognised as vital to achieving global climate targets. Nuclear, as a low-carbon, reliable energy source, and CCS, which can mitigate emissions from industries and power plants, are both key to reducing reliance on fossil fuels without compromising energy security.

Several initiatives at COP29 will highlight nuclear’s potential role in a sustainable energy future, exploring how it can complement renewable energy sources while supporting baseload power needs. Additionally, COP29 will discuss ways to integrate CCS technologies into high-emission industries, which is essential for industries like steel, cement, and chemicals that are challenging to decarbonise.

The Coalition for Conservation is looking forward to making an active and useful contribution to the discussions and meetings at COP29.

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