The 29th United Nations Climate Change Conference (COP29), held in Baku, Azerbaijan, from November 11 to 22, 2024, stands as a crucial milestone in the global fight against climate change. With the participation of world leaders, experts, and civil society representatives, the event focuses on key themes such as climate financing, energy transition, and climate adaptation.
Since the signing of the Paris Agreement in 2015, the international community has sought to limit global warming to 1.5°C above pre-industrial levels. However, recent reports indicate that current efforts are insufficient to meet this goal, requiring more ambitious and coordinated actions.
One of COP29’s main focuses is setting a new global target for climate financing. The previous target, established in 2009, committed developed countries to provide $100 billion annually by 2020 to support developing nations in mitigating and adapting to climate change. However, this amount has not been fully reached, and current financial needs far exceed this sum. It is estimated that developing countries require an additional $500 billion to $1 trillion per year to face climate challenges.
In this context, Brazil plays a significant role. Recognized for its diverse energy matrix and renewable energy potential, the country, in partnership with Azerbaijan, proposes creating a global fund to finance the energy transition, using resources from the oil industry. This initiative aims to promote a fair and inclusive transition, especially for developing nations facing economic and social challenges in adopting clean technologies.
Energy transition is another central theme in the COP29 discussions. The global dependence on fossil fuels remains a major barrier to reducing greenhouse gas emissions. Experts emphasize the need to accelerate the adoption of renewable sources, such as solar and wind, and to invest in innovative technologies that enable a cleaner and more sustainable energy matrix.
Brazil, with its extensive experience in biofuels and hydropower, positions itself as a potential leader in this transition. The country seeks not only to reduce its own emissions but also to share knowledge and technologies with other nations, strengthening international cooperation for the climate.
Additionally, climate adaptation is a growing concern. Extreme weather events, such as droughts, floods, and storms, have become more frequent and intense, affecting millions worldwide. COP29 highlights the importance of developing adaptation strategies that protect vulnerable communities and ensure ecosystem resilience.
Financing for adaptation is a critical issue. Although developed countries have committed to doubling adaptation financing by 2025 under the Glasgow Climate Pact, the financial gap remains significant. It is estimated that adaptation needs range between $194 billion and $366 billion annually, values far from being achieved.
COP29 also addresses the implementation of the Loss and Damage Fund, created to support vulnerable countries in dealing with the unavoidable impacts of climate change. The effective operationalization of this fund is essential to provide technical and financial assistance to the most affected nations, enabling them to rebuild and adapt to a changing climate.
Active participation from civil society is essential to the success of COP29. Non-governmental organizations, indigenous communities, and social movements play a crucial role in advocating for more ambitious climate action and ensuring that the voices of the most affected populations are heard. Including these perspectives enriches the debate and promotes more equitable and effective solutions.
However, challenges persist. The need to balance economic development with environmental sustainability remains a complex issue, especially for developing countries seeking to eradicate poverty and promote growth. COP29 offers a platform to discuss these issues and seek solutions that reconcile economic prosperity with environmental protection.
Transparency and accountability are essential elements in climate negotiations. It is imperative that countries’ commitments are monitored and that effective mechanisms exist to ensure their implementation. Mutual trust among nations is vital for advancing global climate goals.
Science remains the foundation of COP29 discussions. Reports from the Intergovernmental Panel on Climate Change (IPCC) provide clear evidence of the urgency for immediate and ambitious actions to avoid the worst scenarios of global warming. Integrating science into public policy is crucial for formulating effective mitigation and adaptation strategies.
International cooperation emerges as a central pillar in the fight against climate change. COP29 reinforces the need for partnerships between countries, the private sector, and civil society to mobilize resources, share technologies, and implement innovative solutions. Global solidarity is essential to face a challenge that transcends borders and affects all humanity.
In short, COP29 represents a unique opportunity for the international community to reaffirm its commitment to climate action. The decisions made in Baku will have lasting implications for the planet’s future and for generations to come.
