Observers welcome COP29 financing deal but say much work remains

Ministers and leaders from more than 30 countries also reaffirmed their commitment to the Global Cooling Pledge which was launched at COP28 last year and aims to reduce cooling-related emissions by 68 per cent by 2050.  

Despite commitments under the Global Methane Pledge to slash emissions 30 per cent by 2030, An Eye on Methane: Invisible but not unseen launched in Baku revealed that action had not kept pace with commitments, even as the data is more accessible than ever.   

COP29 also saw the Eye on Methane data platform launched, with the aim of providing transparent, actionable emissions data to fossil fuel companies and governments.    

The launch of the Global Peatland Hotspot Atlas: the State of the World’s Peatlands in Maps, highlighted the importance of protecting these vital ecosystems, as it revealed that degraded peatlands emit four per cent of global greenhouse gas emissions originating in human activities.

COP29 saw nearly 70,000 world leaders, negotiators, observers and activists descend on Baku, making it the second biggest COP in history after COP28 in Dubai last year. Hundreds of side-events also took place in the margins of the main negotiations.

"Next, all eyes turn to the NDC 3.0 February deadline. All member states must now stretch ambition to ensure we can live up to the 1.5°C promise,” Andersen said.  “The NDC plans can unleash a wave of resilient economic growth, new jobs and address cost of living challenges," she added.   

UN Climate Change Conference  

The 29th session of the United Nations Climate Change Conference (COP29) was held in Baku, Azerbaijan from 11 to 22 November. It aims to drive action on climate change by reducing emissions and halting global warming.  
 

The Sectoral Solution to the climate crisis   

UNEP is at the forefront of supporting the Paris Agreement goal of keeping global temperature rise well below 2°C, and aiming for 1.5°C, compared to pre-industrial levels. To do this, UNEP has developed the Sectoral Solution, a roadmap to reducing emissions across sectors in line with the Paris Agreement commitments and in pursuit of climate stability. The six sectors identified are: energy; industry; agriculture and food; forests and land use; transport; and buildings and cities.