Billed as the “Finance COP”, the UN climate talks fell short of expectations and needs. The most vulnerable countries, already bearing the brunt of increasingly severe climate impacts were forced to accept a token financial pledge to prevent the collapse of negotiations – a stark reminder of the persistent imbalance in global climate justice.
Standing ovation of NCQG adoption at COP29
Developed countries committed just “at least $300 billion per year” from a variety of sources – including public and private – a figure that risks deepening the debt burden for vulnerable nations who are already paying the price of the climate crisis. High-income countries, responsible for the bulk of historical emissions, owe trillions to nations shouldering the costs.
Landry Ninteretse, Africa Regional Director at 350.org, said: “COP29 has once again fallen short of what is urgently needed for African communities grappling with the devastating impacts of the climate crisis. The lack of decisive action and the required finance for adaptation and energy transition is a stark betrayal of those who have contributed the least to global warming but suffer the most from its consequences.
“But while governments stall, Africa’s solutions are moving forward. Initiatives like REPower Afrika are proof that community-led renewable energy projects can deliver real change. Across the continent, people are already showing what a just transition can look like – replacing fossil fuels with clean, affordable energy that prioritises livelihoods and the planet.
“As we look ahead to COP30, the message is clear: Africa demands a systemic overhaul of global climate finance – just, fair, urgent, and responding to the scale of appropriate adaptation and mitigation needs for our communities. Rich nations must stop the delays and deliver the financing that African communities deserve. The solutions are here, and the renewable energy revolution is underway – driven by people, for the people. The world must follow their lead.”
Namrata Chowdhary, Head of Public Engagement at 350.org, said: “Once again, inequity has driven a hard bargain that the vulnerable have no choice but to accept. Rich countries have failed to honour their responsibilities and shown up with rigid unwillingness to meet this moment with the ambition required to address the climate crisis. As this deal gets pushed through in this dark, disappointing moment, we continue to stand in solidarity with those most impacted by both – a crisis they did not cause, and a result they could not influence.
“This deal has failed to meet the ambition needed, but as we’ve seen over the past two weeks in the halls of the COP venue and the many actions held across the world, hope and ambition are alive and well in the climate movement. We are already looking ahead and preparing to build new momentum in the global movement for climate justice, with a wave of campaigns and mobilisations focussed on real solutions to the climate crisis.”
The lack of financial backing from rich nations continues to obstruct meaningful progress on adaptation and mitigation, particularly in regions hardest hit by climate impacts. Instead, greenwashing tactics such as global carbon markets and unproven technologies are being touted as solutions, but without adequate funding, they remain out of reach for the most vulnerable communities.
Rich countries continue to keep money locked away by enforcing austerity measures, signalling to their citizens that resources are too scarce to invest in public services, social security, or climate action – a false claim and one that blocks progress on the renewable energy transition.
As the G20 declaration hinted, taxing the ultra-rich, financial transactions, aviation, shipping, and extractive industries could raise trillions annually, unlocking critical funds for climate finance, bolstering public services, and driving healthier, more equitable, and sustainable communities.
The conclusion of COP29 comes at the end of a record-breaking year for climate impacts, with rising temperatures, floods, hurricanes, droughts, and wildfires destroying communities and ecosystems worldwide. Every fraction of a degree matters, and we cannot delay action on climate any longer if we are to keep the hope of limiting the global temperature increase to 1.5°C alive.
In the face of governments failing us, social movements are showing leadership and driving forward renewable energy solutions that are locally led and put communities first. Indigenous groups in Brazil are calling to co-lead the UN climate conference in Belém, the Brazilian Amazon, alongside Brazil next year, acknowledging that they are the guardians of our ecosystems and are leaders in climate solutions. Meanwhile, civil society across the world has been taking to the streets demanding action from world leaders, holding the richest and most polluting individuals and companies to account, and demanding investment in renewable energy.
Next year’s COP30 in Brazil is expected to see an unprecedented demonstration of solidarity and strength from Indigenous peoples, Small Island Developing States, Global South communities, and the international climate movement. In the wake of COP29’s failure to deliver, all eyes have turned promptly to Brazil as the next critical arena in which to fight for climate justice, human rights, and robust international cooperation.
After two weeks of deliberations, and an extra day, COP29 finally reached a deal in the wee hours of Sunday morning. But it was not the deal Africa and other vulnerable regions hoped for. The rich countries – the historical polluters most responsible for the climate crisis – focused almost completely on shifting responsibility to other growing economies.
COP29, Baku, Azerbaijan
But developing countries worked with partners to realign the global financial system to tackle climate change, represented by the $1.3 trillion goal in 2035. In the end, COP29 delivered a down payment of $300 billion a year by 2035.
As Avinash Persaud, a climate finance expert, put it, “It was hard fought over, but at $300 billion per year, we have arrived at the boundary between what is politically achievable today in developed countries and what would make a difference in developing countries.”
The Baku deal will, however, only work if this money is primarily allocated to help vulnerable countries become more resilient to climate change.
Down payment on a climate debt owed to the most vulnerable
Not the deal most hoped for, but the COP29 consensus provides a chance to continue fighting climate change. This deal is essentially a floor, not a ceiling, said a commentator. A down payment on funds due to vulnerable countries to build resilience. The work is now cut out to ensure the developed nations deliver $1.3 trillion in climate action by 2035. All eyes are now trained on Nationally Determined Contributions (NDCs) that are due in February, as the road to COP30 in Brazil, which has been described by host President Lula as a “turnaround” COP, starts in earnest.
Africa leading the charge
With rich countries slow to rise to the occasion in Baku, a new leadership group emerged in Baku, and African nations and others from the Least Developed Countries (LDCs) and Small Islands Developing States (SIDS) led the charge. Kenya and Sierra Leone, in particular, were the leading lights, working with others like Columbia to push for a better deal from Baku. Kenya’s climate envoy, Mohamed Ali, who also chairs the African Group of Negotiators, and Sierra Leone’s Minister of Environment, Jiwoh Abdulai, pressured the COP presidency to deliver a better deal.
“We must have inclusive approaches so that no parties are left behind. As the African Group, we are prepared to reach an agreement here in Baku, and indeed, we must reach an ambitious agreement in all respects, but we are not prepared to accept things that cross our red lines,” Ali offered as the negotiations dragged on.
“LDCs remain committed to the COP process, but the developed world needs to show good faith, leadership and commitment to this process. They have to pay their climate debt, which is in the trillions,” said Jiwoh.
Rohey John Manjang, Gambia’s minister of environment, called out the rich nations over what she termed a deliberate attempt to delay climate justice and block economic progress for Africa
“This COP has shown how developed countries want to shirk their climate finance responsibilities to vulnerable countries. It is sad that after months of negotiations, they have waited till the last official day of COP to table a dismal figure, leaving no sufficient time for deliberations amongst parties, and to make it worse, the figure is shockingly too low,” she said.
Bearing the weight
The Baku deal was widely described as “a betrayal,” “insufficient,” and “an optical illusion.” Representatives from the Alliance of Small Island States (AOSIS) and the Least Developed Countries (LDCs) walked out of the talks in protest but later returned. A “No Deal is Better Than Bad Deal” greeted the next-to-final text, with climate groups urging negotiators to walk out rather than accept a bad deal.
Climate finance expert Faten Aggad put it boldly: “It is in the interest of our countries to know when to walk out. A no deal is better than a deal that commits African countries to what is undeliverable without serious climate finance. We cannot bear the weight of the historical responsibility alone. We need to draw a line in the sand.” Solid numbers backed the #PayUsNow call:
(i) Mitigation: no less than $300 billion annually in grant-equivalent finance (ii) Adaptation: no less than $300 billion annually in grant-equivalent finance (iii) Loss and damage: no less than $400 billion in grant-based finance
Unruly, complex Article 6: A watershed moment
Climate experts waged a valiant fight against a flawed and unchecked carbon markets framework at COP29 in Baku. However, the adopted Article 6 risks facilitating “cowboy” carbon markets at a time when the world desperately needs a “sheriff”. Governments approved a concerning package, a weak one, that could hinder rather than help emissions reduction.
While some countries fought and pushed hard for transparency and unaccountability under article 6.2, the gains were minimal reflecting a preference for quick fixes over long-term and much needed solutions.
Experts warned that the adoption of Article six without discussion was a means to bypass consultations with States and departed from the Paris Agreement’s party-driven process.
“The fast-tracking of this decision raises serious concerns about the prioritising of carbon markets over other, more effective climate solutions and other pending decisions on climate finance, without the necessary transparency and due consideration of justice issues and negative human rights impacts,” UN experts warned. “There are founded concerns that carbon markets allow polluters to continue to pollute, while distracting from the need to address the direct causes of climate change, through phasing out of fossil fuels.”
Isa Mulder, a policy expert at Carbon Market Watch, said the outcome of Baku leaves the framework for Article 6.2 dangerously loose and opaque, tailor-made for those pushing to turn it into a free-for-all.
Backtracking on COP28
The COP Presidency deferred the final decision on the UAE Dialogue to the mid-year talks at Bonn and COP30 after parties failed to reach consensus on the text on the global stocktake, with Saudi Arabia raising contention on language on transitioning away from fossil fuels.
G20: No time to lose
G20 leaders at the Rio summit (November 18-19, 2024), while reaffirming their commitment to strengthening multilateral climate action, supported calls for a strong finance deal at COP29 in Baku, including more climate cash flows to developing countries. The Rio Declaration recommits to the COP28 Dubai consensus for countries to transition away from fossil fuels and triple renewable energy.
The summit, however, did not offer concrete numbers for the new climate finance goal (NCQG), only outlining the need to rapidly and substantially scale up climate finance from billions to trillions from all sources.
Host Brazil President Luiz Inacio Lula da Silva criticised developed countries for falling short of their promise to deliver $100 billion of climate financing annually to developing countries by 2020. He urged G20 leaders to accelerate their national climate targets, calling on them to reach net zero climate emissions five to 10 years ahead of schedule.
“We have to do more and better. There is no time to lose,” Lula said.
The G20 also announced an alliance to combat hunger and poverty around the globe.
Africa’s permanent seat at the big table
The Rio G20 summit was Africa’s first at the big table after the African Union (AU) was given a permanent seat earlier this year. The seat was long overdue, said Raila Amolo Odinga, former prime minister of Kenya and candidate for Chair of the AU Commission, reflecting Africa’s growing importance and the severity of its crises. But representation alone is not enough, he cautioned, as it must translate into substantial financial support and tangible benefits for local communities bearing the brunt of a climate crisis they did not create.
“Africa needs substantial financial investment and technical support to unlock its vast potential in renewables. To this end, the continent’s development must be central to the global push to triple renewable energy production by 2030. The world’s largest economies have a responsibility to dismantle the entrenched structures that keep Africa and other developing regions impoverished. The path forward is clear: wealthy G20 countries must move beyond rhetoric and provide sustainable, long-term climate financing and concessional loans to help the Global South close the current funding gap,” he said.
South Africa takes over the G20 presidency from Brazil
South Africa will over the next year be the G20 Presidency from December – becoming the first African country to chair the group of 20 major economies.
“As South Africa, we undertake to advance the work of the G20 towards achieving greater global economic growth and sustainable development. We will work to ensure that no one is left behind,” President Cyril Ramaphosa said in Rio. “We will use this moment to bring the development priorities of the African Continent and the Global South more firmly onto the agenda of the G20.”
Analysts said that this presidency presents a unique opportunity to reform global economic governance by integrating sustainable finance into the conversation on debt vulnerability, particularly in Africa. It also provides a critical platform to advance the reform of global debt governance by aligning debt treatment initiatives with climate resilience and sustainable development goals.
Proposed tax on billionaires gets G20 leaders’ support
G20 leaders rallied behind the Rio declaration to tax the wealth of super-rich individuals to fight widening inequality. The declaration text doesn’t offer a specific tax rate or range. However, estimates indicate that a two per cent tax on the wealth of the super-rich could generate $250 billion annually, to be invested in combating inequality and funding a green transition. This elite group of ultra-wealthy individuals comprises around 3,000 people whose combined assets total approximately $15 trillion – five times more than the GDP of Africa, which has a population of about 1.4 billion.
Biden pledges $4 billion to IDA
US President Joe Biden pledged a $4 billion US contribution to the International Development Association (IDA) – the World Bank’s concessional fund – at the G20 summit in Rio. This is up from the $3.5 billion contribution that the US previously made. Norway also pledged a 50 percent increase in its IDA contribution to NOK 5 billion ($451 million), as did Denmark, a 40 per cent increase to DKK 3.3 billion ($461 million).
The IDA fund, which provides mainly grants and very low-interest loans to low-income countries, is replenished every three years. A pledging conference for donor countries will be held on December 5-6 in Seoul, setting the stage for the next cycle starting in July 2025. At the IDA 21 summit in Nairobi in April, African leaders called for a robust IDA replenishment of $120 billion, up from the $93 billion made during the December 2021 cycle.
In line with its 2030 ambition to decarbonise the hydrogen used in its European refineries, TotalEnergies has joined forces with Air Liquide to produce renewable hydrogen at La Mède in southeast France.
TotalEnergies’ La Mède Complex in France
The new project complements the Masshylia project to produce green hydrogen by electrolysis led by TotalEnergies in partnership with ENGIE. These projects will reduce the La Mède biorefinery’s annual CO2 emissions by 130,000 tons.
Air Liquide is going to build and operate a renewable hydrogen production unit at the La Mède platform. With an annual capacity of 25,000 tons, this unit will recycle co-products from the TotalEnergies biorefinery. The hydrogen will then be used in the biorefinery to produce biodiesel and sustainable aviation fuel (SAF). The project’s total investment amounts to €150 million for TotalEnergies and Air Liquide. The new unit is expected to start production in 2028.
“This new renewable hydrogen production project, carried out with Air Liquide, allows us to accelerate the decarbonisation of our La Mède platform. Almost ten years after the announcement of its conversion, La Mède is continuing its transformation and is becoming a low-carbon hydrogen production center, thus contributing to the decarbonization ambition of the Provence-Alpes-Côte-D’Azur region,” said Vincent Stoquart, President, Refining & Chemicals at TotalEnergies.
At the same time, TotalEnergies says it is continuing the development, with its partner ENGIE, of the Masshylia project of green hydrogen production by water electrolysis with a capacity of 10,000 tons per year, to contribute to the decarbonisation of both the biorefinery and local customers at the Fos-Berre industrial-port zone. The two partners are aiming to start up the first 20 MW electrolyser in 2029, subject to confirmation of European and French subsidies and the necessary public authorisations.
TotalEnergies stated that it is committed to reducing the carbon footprint of producing, converting and supplying energy to its customers. One of the paths identified by the company is to use low-carbon hydrogen to decarbonise its European refineries, a move that should help reduce its CO2 emissions by around three million tons a year by 2030.
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.
