The fifth session of the Intergovernmental Negotiating Committee to develop an international legally binding instrument on plastic pollution, including in the marine environment (INC-5), opened on Monday, November 25, 2024, in Busan, Republic of Korea. The session aims to conclude negotiations and finalize the text of the agreement.
Delegates gather for the opening of INC-5. Photo credit: KiaravWorth
The session, which takes place from November 25 to December 1, aims to finalise and approve the text of the instrument. On the opening day, the INC approved the use of the Chair’s Non-Paper 3 as the foundation to facilitate negotiations in focused contact groups through the week.
“The excessive reliance of humanity on the convenience of plastics has resulted in an exponential increase in plastic waste. The waste accumulated in our oceans and rivers now jeopardizes the lives of future generations,” Yoon Suk Yeol, President of the Republic of Korea, said in a video message to the INC.
“I sincerely hope that over the coming week all member states will stand together in solidarity – with a sense of responsibility for future generations – to open a new historic chapter by finalising a treaty on plastic pollution,” the President added.
INC-5 follows four earlier rounds of negotiations: INC-1, which took place in Punta del Este in November 2022; INC-2, which was held in Paris in June 2023; INC-3, which happened in Nairobi in November 2023; and INC-4, held in Ottawa in April 2024.
“The moment of truth is here to end plastic pollution. Not a single person on this planet wants to witness plastic in their communities or washing up on their shores. Not a single person wants chemical-laced plastic particles in their bloodstreams, organs, or their unborn babies,” said Inger Andersen, Executive Director of the UN Environment Programme (UNEP).
“We have a historic moment to end the world’s plastic pollution crisis and protect our environment, our health, and our future. Our job in Busan this week is clear: agree a treaty that puts us on the road to delivering a plastic pollution free future once and for all,” she added.
INC-5 was preceded by a series of ministerial meetings, regional consultations, and a conversation with Observers.
“The voices of the world are clear: we need healthy meals free from microplastics; we need clean air, oceans, and forests; we need safe, non-toxic plastic products; we need innovation, circularity, and collaboration to replace harmful plastics,” said Ambassador Luis Vayas Valdivieso, Chair of the INC. “Let us harness every tool of multilateralism, every ounce of creativity, and every moment of dialogue to overcome our differences and craft a treaty as ambitious as our collective will allows.”
INC Chair Vayas emphasised that the Non-Paper is a starting point for deliberations, and not a final outcome, stressing that the text is bracketed in its entirety and does not prejudge member’s positions. Furthermore, he said that the compilation text would provide an authoritative reference and that all issues will receive equal attention.
He clarified that members would be able to make additional submissions in the contact group discussions; and pointed to the role of the legal drafting group, which would streamline the text forwarded to it throughout the week. Delegates agreed to work on the basis of this proposal, and plenary was adjourned.
More than 3,800 participants have registered to participate in INC-5 – the highest number of the five meetings – representing more than 170 countries and over 600 Observer organizations.
“The success of these negotiations will directly shape the world we live in – now and in the future -, because once the ink is dry, words must be followed by action, and we should all have our eyes on this instrument’s implementation.” said Jyoti Mathur-Filipp, Executive Secretary of the INC. “
In the early hours of Sunday, November 24, 2024, two days after scheduled closure of COP29, Parties finally agreed the New Collective Quantified Goal on Climate Finance (NCQG), replacing the $100 billion goal that was set and agreed in 2009.
African Group of Negotiators on Climate Change (AGN) Chair, Ali Mohamed (right)
After a frustrating additional two days beyond scheduled closure of COP29, and frantic efforts to salvage the almost collapsing talks, a compromise $300 billion climate finance deal was agreed, with India, Bolivia and Nigeria rejecting the deal after adoption.
African Group of Negotiators on Climate Change (AGN) Chair, Ali Mohamed, did not hold back the group’s frustrations during the closing plenary, labelling the deal “too little, too late, and too ambiguous in its delivery.”
“At this COP, we achieved progress in some respects, but we appear to be regressing in others,” said Ambassador Mohamed. “Let it be clear that, the agreed figure of $300 billion per annum is an inadequate amount, which has to be reviewed in 2030 and revised upward in line with needs of developing countries.”
The two main contentious issues revolved around the quantum and mode of delivery, as the obligation aspect is clear in both the Convention and the Paris Agreement, placing responsibility on developed parties to provide climate finance.
However, developing parties left Baku frustrated as this responsibility was watered down in the agreed climate finance deal – it puts obligations on all parties, “with developed country Parties taking the lead,” and includes “a wide variety of sources, public and private, bilateral and multilateral, including alternative sources.”
With such language in the text, some experts believe this effectively kills the spirit of the climate convention, which clearly places obligations on developed countries to provide climate support based on their historical and current contribution to the climate crisis.
“Africa stands here with a sense of realism and resignation. Delivery of the aims of the Convention and its Paris Agreement remain deeply uncertain. We are realistic about the journey ahead. But let us remember that these commitments are not acts of charity. They are acts of survival, shared prosperity, and solidarity. Climate finance is not a handout – it is the moral and economic imperative of our age.
“As I close, I remind us of all of the southern African concept of ‘Ubuntu’: I am because you are. When Africa loses, the world loses – its critical minerals, its biodiversity, its stability. When Africa thrives, the world thrives with it,” concluded Ambassador Mohamed in his closing statement.”
Coming into COP29, Africa had clearly outlined its priorities, top of which were a climate finance deal with a $1.3 trillion quantum and adaptation support for the over 1.4 billion Africans suffering the vagaries of the climate crisis.
“For us in Africa, adaptation means agriculture support, resilient water infrastructure, and universal health coverage for all, amidst an increased climate-induced disease burden, among other necessary development support. We are therefore not treating our development needs as a separate subject from climate adaptation, which cuts across all our development needs in key sectors,” emphasised the AGN Chair at the start of the conference.
Simon Stiell, UNFCCC Executive Secretary, said: ” This new finance goal is an insurance policy for humanity, amid worsening climate impacts hitting every country. But like any insurance policy – it only works – if premiums are paid in full, and on time. Promises must be kept, to protect billions of lives.”
COP29 President, Mukthar Babayev, said: “The Baku Finance Goal represents the best possible deal we could reach, and we have pushed the donor countries as far as possible. We have forever changed the global financial architecture and taken a significant step towards delivering the means to deliver a pathway to 1.5 degrees Celsius. The years ahead will not be easy. The science shows that the challenges will only grow. Our ability to work together will be tested. The Baku Breakthrough will help us weather the coming storms.”
Despite global geopolitical tensions and Donald Trump’s historic re-election, the United Nations Climate Talks at COP29 concluded with a significant deal, marking a hard-fought victory for multilateral climate action.
COP29 held in Baku, Azerbaijan, November 2024
The agreement came during a year that saw record-breaking temperatures, mounting extreme weather events, and growing divides between developed and developing nations. Despite challenges, including efforts by fossil fuel-driven economies like Saudi Arabia to undermine the process, a landmark decision was reached to realign global financial systems to address the climate crisis.
The 29th United Nations Climate Change Conference (COP29) marked significant advancements in global climate action, addressing critical issues of finance, adaptation, and carbon markets.
For the first time, major southern economies joined wealthy nations in committing to a new financial framework. This historic move includes a $300 billion annual down payment by 2035, paving the way towards a $1.3 trillion climate finance goal. The funds are intended to support vulnerable nations in addressing climate impacts.
Adaptation funding saw a threefold increase, with a roadmap established to assess progress and close gaps by 2026 and 2027. Despite this progress, concerns persist regarding the balance between grants and loans and the need for specific commitments towards loss and damage financing.
After years of stalemate, negotiators achieved an agreement on government-to-government carbon markets. However, experts caution that the newly adopted rules may need to be more permissive, potentially undermining their effectiveness in reducing emissions.
While COP29 demonstrated progress on several fronts, it highlighted lingering challenges as nations strive to balance ambition with implementation.
Sharp divides marked the negotiations. Developed nations, including the United States and Japan, were criticised for prioritising shifting responsibility to other economies. Saudi Arabia stalled progress on fossil fuel phaseout discussions, which are now moving to COP30 in Belém, Brazil. Meanwhile, fossil fuel lobbyists played an outsized role, with nearly 1,800 representatives present.
Despite these obstacles, developing nations, supported by partners in the global north, played a pivotal role in ensuring progress. Vulnerable countries, including small island states, managed to secure critical funding commitments, though many argue it remains insufficient given the escalating climate crisis.
Linda Kalcher, Executive Director of Strategic Perspectives, praised the financial reforms, calling them a “step change” for climate funding, but emphasised the importance of fossil fuel phaseout in upcoming national plans.
Similarly, Laurence Tubiana, CEO of the European Climate Foundation, highlighted the necessity of multilateralism despite the agreement falling short of the moment’s urgency.
Tina Stege, Climate Envoy for the Marshall Islands, poignantly reminded us of the human cost of inaction: “Countries seem to have forgotten why we are here – it is to save lives. Despite the barriers, we’ve secured a start, but much more is needed.”
Brazilian President Lula da Silva is poised to host COP30 as the “Turnaround COP,” tasked with addressing unresolved mitigation plans and further advancing climate finance mechanisms.
With rising emissions and extreme weather events claiming over half a million lives in two decades, the stakes for Brazil are higher than ever.
The path to COP30 will be critical. As Simon Stiell, Executive Secretary of the UNFCCC, noted: “This deal is an insurance policy for humanity, but it only works if the premiums are paid in full and on time. The road to Belém will demand stronger commitments from all.”
While imperfect, COP29 reaffirmed the global commitment to tackling the climate crisis amidst geopolitical upheaval. The focus now shifts to delivering on financial pledges and aligning national climate plans with the Paris Agreement’s 1.5°C goal.
The decisions in Baku signal both hope and urgency. The world is watching as leaders prepare for the next chapter in Brazil.
The Federal Government has assured Nigerians and all key stakeholders of adequate promotion of Low Sulphur Fuels and Compressed Natural Gas (CNG) in the country.
Malam Balarabe Lawal, Minister of Environment
Malam Balarabe Lawal, Minister of Environment, stated this in Abuja on Sunday, November 24, 2024, while inaugurating the Inter-Agency Committee on Fuels, charged with promoting the use of low Sulphur Fuels and CNG in the country.
The minister explained that the use of cleaner fuels would significantly reduce air pollution and human health challenges caused by high sulphur in petroleum products.
He stated that high sulphur fuels had been linked to rising cases of asthma attacks, acute/chronic bronchitis, chronic obstructive lung diseases and many other ailments.
Lawal further stated that the Nigeria Industrial Standards for Sulphur concentration in Petrol, Diesel and Kerosene had been reviewed which was made possible by the ministry’s mandate and support from the critical stakeholders.
The Dangote Refinery on Sunday, November 24, 2024, announced reductions in the price of petrol.
Dangote Refinery
The petrol, which was sold at N990 per litre, has now been reduced to N970 per litre for marketers lifting the products from its refinery.
Anthony Chiejina, Dangote Group Chief Branding and Communications Officer, announced the price reduction in a statement in Lagos.
He said the move was to appreciate the good people of Nigeria for their unwavering support in making the Refinery a dream come true.
“Dangote Petroleum Refinery has effected a reduction in the prevailing price of its Premium Motor Spirit (PMS) from N990/litre to N970/litre for the marketers.
“As the year comes to an end, this is our way of appreciating the good people of Nigeria for their unwavering support in making the Refinery a dream come true.
“In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well-being.
“While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable.
“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply,” Chiejina said.
A long list of oil industry leaders, ministers of the federal republic, national assembly members, as well as oil and gas stakeholders are confirmed to attend the 2024 edition of the Practical Nigerian Content Conference and Exhibition slated for the first week of December at the Nigerian Content Tower, Yenagoa, Bayelsa State.
Nigerian Content Tower, Yenagoa, Bayelsa State
The theme of the event is “Deepening the Next Frontier for Nigerian Content Implementation” and it will be the 13th edition of the annual conference and exhibition, a signature event hosted by the Nigerian Content Development and Monitoring Board (NCDMB) in partnership with DMG Events.
According to the programme, PNC 2024 will start on Monday, December 2, 2024, with a golf tourney at the Henry Seriake Golf and Country Club, Yenagoa, and a welcome reception in the evening to be hosted by Coleman Wires and Cables at the newly opened Best Western Hotel, Swali, Yenagoa.
The formal opening ceremony will begin at 9am on Tuesday with speeches by the Executive Secretary of the NCDMB, Felix Omatsola Ogbe, and goodwill messages by the Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe; the Chief Executive, Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed; and the Group Chief Executive Officer, Nigerian National Petroleum Company Ltd, Mr. Mele Kolo Kyari.
Other top officials slated to speak at the 2024 PNC opening ceremony are the Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, the Minister of State for Petroleum Resources (Gas), Hon. Ekperikpe Ekpo, and their counterpart from the Ministry of Power, Mr. Adebayo Adelabu.
The Chairman, Senate Committee on Local Content, Senator Natasha Akpoti-Uduaghan, and the Chairman, House of Representatives Committee on Nigerian Content Development and Monitoring, Boma Goodhead, are also billed to speak at the opening day.
The first panel discussion will analyse “The Next Frontier for Nigerian Content: Divestments and Offshore Opportunities” and the cast will include the Director Project Certification and Authorisation, NCDMB, Abayomi Bamidele, alongside the Chairman, Chevron Nigeria, Mr. Jim Swartz; the Executive Director, TotalEnergies E&P Nigeria, Mr. Obi Imemba; the Group Chief Executive, Oando PLC, Mr. Wale Tinubu; and the Managing Director, Aradel Holdings, Adegbite Falade.
The second panel will discuss “Evaluating Financial Strategies for Increased Local Content Implementation” and some of the discussants will include the Secretary General, African Petroleum Producers’ Organisation (APPO), Dr. Omar Farouk Ibrahim; the Managing Director, Bank of Industry (BOI), Dr. Olasupo Olusi; and the Director, Finance & Personnel Management, NCDMB, Ifeanyi Ukoha.
The second day of the conference will also feature panel discussions on topical industry issues like “Nigerian Content Beyond Borders,” “Nigerian Content from the Grass Roots: Community Capacity Development” and “From Policy to Practice: Strengthening Domestication for Economic Development.”
Major highlights of the 2024 PNC will include the unveiling of new operational policies by the NCDMB and exhibition of projects and capacities by international and indigenous operating and service oil and gas companies.
Delegates attending this year’s event can equally look forward to the gala dinners to be hosted by the Bayelsa State Government on Tuesday and by the Nigeria LNG Ltd on Wednesday, in addition to the site visit on Thursday morning to the logistics base of First Marine and Engineering Services Ltd located at Swali, Yenagoa.
In his remarks at the Closing Plenary of COP29 in Baku, Azerbaijan, by 03.45am approx local time on Sunday, November 24, 2024, Simon Stiell, UN Climate Change Executive Secretary, submits that the new finance goal is an insurance policy for humanity, amid worsening climate impacts hitting every country
Simon Stiell, UN Climate Change Executive Secretary. Photo credit UN Climate Change / Lucia Vasquez Tumi
I want to start by thanking the Presidency for all they have done to enable the finance COP here in Baku.
It has been a difficult journey, but we’ve delivered a deal.
This new finance goal is an insurance policy for humanity, amid worsening climate impacts hitting every country. But like any insurance policy – it only works – if premiums are paid in full, and on time. Promises must be kept, to protect billions of lives.
This deal will keep the clean energy boom growing, helping all countries to share in its huge benefits: more jobs, stronger growth, cheaper and cleaner energy for all.
We needed this to be an enabling COP – one which helped translate the pledges of COP28 into real-world outcomes to protect people, prosperity, and the planet.
And that’s what we have made possible. At COP28 the world agreed to triple renewables. At COP29 we tripled climate finance, and countries will work to mobilise much, much more.
At COP28 the world agreed to boost climate resilience. COP29 will help finance real protections for those on the frontlines, especially the most vulnerable. COP29 also reached global agreement on carbon markets, after almost a decade of hard work, where several previous COPs were not able to get this done.
No country got everything they wanted, and we leave Baku with a mountain of work to do.
The many other issues we need to progress may not be headlines but they are lifelines for billions of people.
So, this is no time for victory laps, we need to set our sights and redouble our efforts on the road to Belém. Even so, we’ve shown the UN Paris Agreement is delivering but governments still need to pick up the pace.
Let’s not forget, without this UN-agreed global cooperation, we’d be headed towards 5 degrees of global warming.
But we are still a long way off course. Bold new climate plans on the way to Belem will be crucial to getting us back in the race. They must embed the targets we agreed in Dubai, including to rapidly ramp up renewables, transition away from fossil fuels, and transform societies, making them more resilient.
Whole of economy, whole of society plans are crucial. We’ve seen clear signals from two G20 countries – UK and Brazil – because stronger climate actions are entirely in the interests of their economies and their people.
Friends – progress here in Baku has been hard won. I pay tribute to all those who worked around the clock. Even if you didn’t get everything you sought, what you delivered will make billions of lives safer and better.
To those of you who have joined from civil society – your work helps our process make progress. Today we set a new goal, and you will be vital in ensuring that the goal is fulfilled.
To the staff of the Secretariat, you have been stretched beyond belief, and yet time and again, you stood and delivered, so that tens of thousands of people from almost 200 countries could come together and take global climate efforts forward. I have never seen a harder working group of people, that steady the ship when times get tough.
Excellencies, friends, we still have a very long road ahead of us, but here in Baku we took another important step forward.
The UN Paris Agreement is humanity’s life-raft; there is nothing else. So here in Baku and all of the countries represented here in the room we are taking that journey forward together.
A total of 9,000 youths in the Niger Delta have acquired entrepreneurial skills in the LiveWIRE programme of The Shell Petroleum Development Company of Nigeria Limited (SPDC) since it was introduced in 2003 as part of efforts to boost employment opportunities among people aged between 18 and 35 years. The recipients were trained and supported with start-up grants and business mentorship enabling them to launch their own businesses and become employers of labour.
A cross section of some of the beneficiaries of the Shell LiveWIRE programme
The latest training, sponsored by the SPDC Joint Venture which includes the Nigerian National Petroleum Company Limited, TotalEnergies and Nigerian Agip Oil Company, involved more than 1,000 young entrepreneurs from host communities in Rivers, Bayelsa and Delta states. They graduated last week in Port Harcourt having developed business plans and pitched them to experts as part of the training. Some 654 trainees were selected as best-performers.
“We’re delighted at the success of the LiveWIRE programme,” SPDC Director and Head Corporate Relations, Igo Weli, said at the graduation ceremony. “This training is set aside for young people from our host communities which means they can also enjoy the benefits of the programme and join the teeming number of entrepreneurs, several of whom now have the chance to participate in SPDC’s business as vendors. LIveWIRE is one of many ways through which Shell and her partners are powering progress in Nigeria.”
The graduation ceremony featured a technical conference with the theme, “Unlocking Growth: Leveraging Policies to Build an Inclusive Tech Eco System in the Niger Delta.” The keynote speaker, Iyke Kemabonta, and panelists, Soala Jumbo, Davies Awongo, Kalada Briggs, Vivien Ene and Ezieke Amaefula, challenged the beneficiaries to grow their businesses, overcome environmental challenges and enable the Niger Delta to reap the rewards of the programme.
Trainees from the 2023 Regional LiveWIRE programme from Rivers, Delta, Bayelsa, Imo, Abia, Akwa Ibom, Cross River and Edo states also joined the graduation ceremony. Beneficiaries were inducted into the LiveWIRE Alumni Group by three previous participants who now run their own businesses – Precious Adeho, Queen Esther Bolou-Ebi and Kalada Briggs. The trio encouraged the recipients to use the opportunity as launching pads into international recognition and success.
In a notable achievement, five previous beneficiaries won the LiveWIRE International “Go and Trade Enterprise Linkage Award” which enabled them to embark on trade visits to London, Dubai, Malaysia, and neighboring Ghana. Livewire Nigeria also offers beneficiaries the chance to compete for the Global Shell LiveWIRE Top Ten Innovators Award which comes with huge rewards.
LiveWIRE is Shell’s global enterprise development initiative for small businesses and is active in 18 countries. As of 2023, the programme had trained about 3,400 people and helped create more than 1,200 jobs around the world.
In his COP29 closing statement, UN Secretary-General, António Guterres, says he had hoped for a more ambitious outcome, but that the agreement reached provides a base on which to build
UN Secretary-General, António Guterres
COP29 comes at the close of a brutal year – a year seared by record temperatures, and scarred by climate disaster, all as emissions continue to rise.
Finance has been priority number one.
Developing countries swamped by debt, pummelled by disasters, and left behind in the renewables revolution, are in desperate need of funds.
An agreement at COP29 was absolutely essential to keep the 1.5 degree limit alive. And countries have delivered.
I had hoped for a more ambitious outcome – on both finance and mitigation – to meet the great challenge we face.
But this agreement provides a base on which to build.
It must be honoured in full and on time. Commitments must quickly become cash. All countries must come together to ensure the top-end of this new goal is met.
COP29 also builds on progress made last year on emissions reductions and accelerating the energy transition. And it reaches agreement on carbon marketsThis was a complex negotiation in an uncertain and divided geopolitical landscape. I commend everyone who worked hard to build consensus. You have shown that multilateralism – centred on the Paris Agreement – can find a path through the most difficult issues.
I appeal to governments to see this agreement as a foundation – and build on it.
First, countries must deliver new economy-wide national climate action plans – or NDCs – aligned with 1.5 degrees, well ahead of COP30 – as promised. The G20 countries, the biggest emitters, must lead.
These new plans must cover all emissions and the whole economy, accelerate fossil fuel phase out, and contribute to the energy transition goals agreed at COP28 – seizing the benefits of cheap, clean renewables.
The end of the fossil fuel age is an economic inevitability. New national plans must accelerate the shift, and help to ensure it comes with justice.
Second, we need swift action to deliver on commitments made in the Pact for the Future. Particularly on effective action on debt; increasing concessional finance and improving access; and substantially increasing the lending capacity of the Multilateral Development Banks, with adequate recapitalisation.
I thank the government of Azerbaijan for their hospitality – and COP29 President Mukhtar Babayev, and his team, for their hard work.
I am grateful to UNFCCC Executive Secretary Simon Stiell and his colleagues for their superb support – and of course the United Nations team.
And I commend all the delegates, young people, and civil society representatives who came to Baku to push parties for maximum ambition and justice.
I end with a message directly to them. Keep it up. The United Nations is with you. Our fight continues. And we will never give up.
The UN Climate Change Conference (COP29) closed on Sunday, November 24, 2024, with a new finance goal to help countries to protect their people and economies against climate disasters and share in the vast benefits of the clean energy boom.
COP29 closing plenary
With a central focus on climate finance, COP29 brought together nearly 200 countries in Baku, Azerbaijan, and reached a breakthrough agreement that will:
Triple public finance to developing countries, from the previous goal of $100 billion annually, to $300 billion annually by 2035.
Secure efforts of all actors to work together to scale up finance to developing countries, from public and private sources to the amount of $1.3 trillion per year by 2035.
Known formally as the New Collective Quantified on Climate Finance (NCQG), it was agreed after two weeks of intensive negotiations and several years of preparatory work, in a process that requires all nations to unanimously agree on every word of the agreement.
“This new finance goal is an insurance policy for humanity, amid worsening climate impacts hitting every country,” said Simon Stiell, Executive Secretary of UN Climate Change. “But like any insurance policy – it only works – if premiums are paid in full, and on time. Promises must be kept, to protect billions of lives.”
“It will keep the clean energy boom growing, helping all countries to share in its huge benefits: more jobs, stronger growth, cheaper and cleaner energy for all.”
The International Energy Agency expects global clean energy investment is set to exceed $2 trillion for the first time in 2024.
The new finance goal at COP29 builds on significant strides forward on global climate action at COP27, which agreed an historic Loss and Damage Fund, and COP28, which delivered a global agreement to transition away from all fossil fuels in energy systems swiftly and fairly, triple renewable energy and boost climate resilience.
COP29 also reached agreement on carbon markets – which several previous COPs had not been able to achieve. These agreements will help countries deliver their climate plans more quickly and make faster progress in halving global emissions this decade, as required by science.
Important agreements were also reached on transparent climate reporting and adaptation as summarised below.
Stiell also acknowledged that the agreement reached in Baku did not meet all Parties’ expectations, and substantially more work is still needed next year on several crucial issues.
“No country got everything they wanted, and we leave Baku with a mountain of work to do,” said Stiell. “The many other issues we need to progress may not be headlines but they are lifelines for billions of people. So, this is no time for victory laps, we need to set our sights and redouble our efforts on the road to Belem.”
The finance agreement at COP29 comes as stronger national climate plans (Nationally Determined Contributions, or NDCs) become due from all countries next year. These new climate plans must cover all greenhouse gases and all sectors, to keep the 1.5°C warming limit within reach. COP29 saw two G20 countries – the UK and Brazil – signal clearly that they plan to ramp up climate action in their NDCs 3.0, because they are entirely in the interests of their economies and peoples.
“We still have a very long road ahead, but here in Baku we took another important step forward,” said Stiell. “The UN Paris Agreement is humanity’s life-raft; there is nothing else. So here in Baku and all of the countries represented in this room we’re taking that journey forward together.”
A brief summary of other key achievements at COP29 follows below.
Article 6 of the Paris Agreement
A notable achievement during the past two weeks was the progress made on carbon markets. After nearly a decade of work, countries have agreed on the final building blocks that set out how carbon markets will operate under the Paris Agreement, making country-to-country trading and a carbon crediting mechanism fully operational.
On country-to-country trading (Article 6.2), the decision out of COP29 provides clarity on how countries will authorise the trade of carbon credits and how registries tracking this will operate. And there is now reassurance that environmental integrity will be ensured up front through technical reviews in a transparent process.
On day one of COP29, countries agreed standards for a centralised carbon market under the UN (Article 6.4 mechanism). This is good news for developing countries, who will benefit from new flows of finance. And it is particularly good news for least developed countries, who will get the capacity-building support they need to get a foothold in the market.
This mechanism, known as the Paris Agreement Crediting Mechanism, is underpinned by mandatory checks for projects against strong environmental and human rights protections, including safeguards that ensure a project can’t go ahead without explicit, informed agreement from Indigenous Peoples. It also allows anyone affected by a project to appeal a decision or file a complaint.
Under the text agreed on Article 6.4, there is a clear mandate for the UN carbon market to align with science. It tasks the Body getting this market up and running to consider the best available science across all work going forward.
The work on carbon markets doesn’t stop in Baku. The Supervisory Body setting up the new carbon crediting mechanism has been handed a long 2025 to-do list by Parties and will continue to be accountable to them.
Transparency
Transparent climate reporting made big strides forward in Baku, building a stronger evidence base to strengthen climate policies over time, and helping to identify financing needs and opportunities. To date, 13 Parties have now submitted their first Biennial Transparency Reports (BTR) – due from all Parties by the end of the year. Andorra, Azerbaijan, the European Union, Germany, Guyana, Japan, Kazakhstan, Maldives, Netherlands, Panama, Singapore, Spain, and Türkiye have led the way on transparent climate reporting and set an example for others to follow. The list of received BTRs is continuously being updated here.
In addition, all transparency negotiating items concluded successfully at COP29, with Parties expressing their appreciation for the timely completion of the Enhanced Transparency Framework (ETF) reporting tools, the technical trainings, and the support provided to developing countries for reporting under the ETF that took place in 2024.
A total of 42 events were organised under #Together4Transparency, a UNFCCC collaborative initiative that promotes climate transparency with Parties and non-Party stakeholders. These events emphasized the vital role of transparency in preparing NDCs and net-zero pathways, as well as in recognizing climate action from non-Party stakeholders. Events included high-level sessions, mandated events and training sessions to prepare countries for their BTRs, as well as to equip technical experts for the upcoming review process.
The critical role of REDD+ was recognized through a £3 million pledge by the UK International Forest Unit to support UN Climate Change’s work over four years. This funding will bolster REDD+ activities in many countries, enabling the secretariat to create dedicated spaces for REDD+ experts to engage in technical dialogue. These efforts are expected to enhance the transparency and implementation of REDD+, in line with the Global Stocktake objective to halt and reverse deforestation and forest degradation by 2030.
Adaptation
COP29 was an important moment for adaptation, with the delivery of several key outcomes. The COP decision on matters relating to the least developed countries (LDCs) contains a provision for the establishment of a support programme for the implementation of National Adaptation Plans (NAPs) for the LDCs. Parties extensively discussed the second five-year assessment of progress to formulate and implement NAPs and will continue that in June 2025.
A High-Level Dialogue on National Adaptation Plans convened ministers from least developed countries and small island developing States, financial experts and international donors to address the growing urgency of climate adaptation. Their discussions focused on innovative financing, technical support, and accelerated action to meet the 2025 submission deadline for NAPs. The event concluded with a strong call to action to expedite NAPs and translate plans into tangible outcomes.
The outcome on the global goal on adaptation sets a clear path forward on the road to COP30 for the indicators work programme, providing a process for experts to continue their technical work before passing the baton to Parties. COP29 also launched the Baku Adaptation Road Map and Baku high-level dialogue on adaptation to enhance the implementation of the UAE Framework. Finally, the outcome raises ambition by agreeing to continue unpacking transformational adaptation moving forward.
COP29 took a decisive step forward to elevate the voices of Indigenous Peoples and local communities in climate action, adopting the Baku Workplan and renewing the mandate of the Facilitative Working Group (FWG) of the Local Communities and Indigenous Peoples Platform (LCIPP). The adopted decision acknowledges the progress made by the FWG in fostering collaboration among Parties, Indigenous Peoples and local communities, and underscores the leadership of Indigenous Peoples and local communities in addressing the climate crisis.
Gender and climate change
Countries agreed a decision on gender and climate change, extending the enhanced Lima Work Programme on Gender and Climate Change for another 10 years, reaffirming the importance of gender equality and advancing gender mainstreaming throughout the convention.
They also agreed to develop a new gender action plan for adoption at COP30, which will set the direction for concrete implementation.
Civil society participation, children and youth
World leaders at COP29 were joined by civil society, subnationals, business, Indigenous Peoples, youth, philanthropy, and international organisations. More than 55,000 people attended COP29 to share ideas, solutions, and build partnerships and coalitions.
The decisions taken at COP29 also reemphasize the critical importance of empowering all stakeholders to engage in climate action; in particular under Action for Climate Empowerment (ACE). Parties recalled the importance of integrating ACE elements into national climate change policies, plans, strategies and action, and noted the secretariat’s compendium of good practices for integrating ACE elements into NDCs.
COP29 marked a significant milestone as dedicated spaces were created to ensure the meaningful participation of children within the Youth-led Climate Forum for the first time. Four children, including the youngest at just 10 years old, took on roles as moderators and speakers, engaging directly with Parties and observer organizations. Their participation highlighted the importance of inclusivity and intergenerational collaboration in driving climate action.
In parallel with the formal negotiations, the Global Climate Action space at COP29 provided a platform for governments, businesses and civil society to collaborate and showcase their real-world climate solutions. An overview and summary of these can be found here.
The High-Level Champions, under the Marrakech Partnership for Global Climate Action, launched their 2024 Yearbook of Global Climate Action at COP29, showing that climate action by non-Party stakeholders, including businesses, investors, sub-national actors and civil society, is driving progress towards the goals of the Paris Agreement, and that their engagement is more crucial than ever.
