From climate finance to fossil fuel transition, our Ambassadors unpack their learnings from COP29.
This year representatives from just under 200 countries gathered in Baku, Azerbaijan, for COP29, the largest climate conference of the year. Bringing the voices of young leaders to the table, were over 40 of our Ambassadors, spearheading vital climate conversations, exchanging their insight, and forging new connections to help save our planet from destruction.
Climate finance shortfall
The primary target for this year's 29th gathering of the conference of the parties was to agree on how much money should be sent to developing countries to help them recover from climate emergencies and transition to cleaner energy systems.
“Developed nations committed to providing at least $300 billion annually by 2035 to assist developing countries in addressing climate change impacts. This figure, however, falls far short of the $1.3 trillion that experts deem necessary,” explains Oliver Rieche, Director of Legal Affairs, Carbon Procurement and NDC Partnership, Balance Eco Ltd. “It is quite a slap in the face for developing countries,” he concludes.
Developing countries are disproportionately affected by the climate crisis because they have fewer resources to adapt to the changing climate and recover from damage caused by extreme weather. A report by The Independent High Level Expert Group on Climate Finance advised that developing countries would need $1 trillion per year by 2030 and $1.3 trillion per year by 2035 to adequately protect them from the climate crisis, and that “any shortfall in investment before 2030 will place added pressure on the years that follow, creating a steeper and potentially more costly path to climate stability.”
“Small Island Developing States (SIDS) and Least Developed Countries (LDCs), are bearing the brunt of a crisis they didn’t create,” says Dr Gurleen Kaur, Technology and Solar Specialist, International Solar Alliance, “the Global South cannot and should not be left to brace for impact alone while the wealthier nations—largely responsible for these issues—delay taking responsibility. The developed world must step up and fund the necessary transitions, ensuring that vulnerable nations can adapt and thrive.
Fossil fuel transition
In addition to the disappointing climate finance commitment, there was also no further movement on the transition away from fossil fuels.
At COP28 in 2023, an historic decision was made by leaders of just under 200 countries to sign a global pact that called for transitioning away from fossil fuels like oil, gas and coal which are responsible for over 75% of global greenhouse gas emissions and nearly 90% of all carbon dioxide emissions. Unfortunately, at COP29 there was no progress on the pledge.
“Fossil fuel interests remained prominent, and no major steps were taken toward reducing reliance on these energy sources,” explained Oliver, “this was to be expected given Azerbaijan being a petro-state and allowing hundreds of oil and gas lobbyists to participate.”
Having Azerbaijan host COP has been the subject of vast controversy as 95% of Azerbaijan’s exports are oil and gas, and it is home to the Absheron peninsula in the Caspian Sea which local scientists say is “the ecologically most devastated area in the world.”
Young leaders are vital in tackling climate change
From slow fashion initiatives in Ethiopia to turning plastic into reusable products in Fiji, our One Young World Community is actively working to stabilise our climate and stop the effects of the climate crisis.
Amongst shows of disappointing leadership and climate decisions at COP29, young leaders, including our trailblazing Ambassadors, remain one of the only glimmers of hope for the future of our planet. “A powerful highlight of COP29 was the role of youth in the climate conversation. “If not us, who? If not now, when?” This call to action underscores the urgency of the moment and the determination of the next generation,” comments Dr Gurleen. “Youth at COP29 demonstrated their readiness to drive real change, holding leaders accountable and championing actionable solutions.”
Spearheading the climate movement
Despite the underwhelming results of COP29, our Ambassadors in attendance came away filled with renewed passion and desire to drive real change.
In his role as Carbon Markets Specialist, and Policy and Strategy Associate Consultant at South Pole, Antonio Díaz Aranda works on achieving Article Six of the Paris Agreement. His achievements include collaborating with the UNDP to develop frameworks and conduct capacity-building sessions on Article 6 of the Paris Agreement across Latin America, Africa, and Asia, supporting the creation of a global carbon market regulation tracker for Gold Standard, and developing decarbonisation strategy recommendations for the concrete and cement sector for the IFC. Post COP29, he wants to see more young people involved in high-level climate conversations. “I want to advocate for and support younger generations to increase their involvement in climate policy and amplify their impact at the UNFCCC,” Antonio explains. “As part of achieving this, I aim to share more clear information on the climate crisis, COP developments, and actionable solutions, emphasising climate and media literacy in an era filled with misinformation.”
Christine Mhone, Founder and Managing Director of Caring Hands Center is also keen to engage more young leaders in climate conversations post-COP29. “I plan to collaborate with stakeholders I met during COP29 to strengthen youth-led climate action and ensure health equity is prioritised in policy dialogues,” she says. “At COP29 I observed increasing recognition of the climate crisis’s disproportionate impact on vulnerable communities in the Global South and the pivotal role of youth in driving innovative solutions and I want to build on those conversations.”
What does the future look like post-COP29?
“COP should lead to tangible commitments in climate financing, particularly for health-related loss and damage in underserved regions,” observes Christine.
“UNFCCC COP discussions should connect with other influential forums, like the G20, to align and strengthen global climate agendas,” says Antonio. “The limited progress on fossil fuel transition underscores the urgency for more decisive actions in future climate conferences to meet global climate goals,” Oliver furthers.
“I hope COP29 becomes more than just another platform for discussion. It should be a catalyst for action. While it’s valuable to bring like-minded people together to network and exchange ideas, the climate emergency demands immediate and tangible solutions,” says Dr Gurleen.