COP 29 (Baku, Azerbaizan 2024)

We already know the Conference of the Parties (COP) is the supreme decision-making body under the United Nations Framework Convention on Climate Change (UNFCCC). Now let’s look at COP 29:

• COP29 was held in Baku, Azerbaijan
• Around 200 countries participated
• The core purpose: how humanity will collectively respond to climate change, especially in terms of finance, mitigation, adaptation, and equity

👉 Remember: Climate change is not just an environmental issue; it is an economic, developmental, and justice issue.

🔑 Key Highlights of COP29

New Climate Finance Goal (NCQG) – The biggest debate

At COP29, countries agreed on a New Collective Quantified Goal (NCQG) on Climate Finance.

What changed?

• Old target: USD 100 billion per year
• New target: USD 300 billion per year by 2035
• Developed countries are expected to take the lead

Additionally, there is a broader call:

• USD 1.3 trillion per year by 2035
  • From all public and private sources

📌 Conceptual clarity

• Climate finance is required for mitigation (reducing emissions) and adaptation (coping with impacts like floods, cyclones, droughts).
• Developing countries lack resources but face disproportionate climate impacts.

Carbon Markets Agreement – Turning emissions into tradable units

COP29 finalised long-pending rules under Article 6 of the Paris Agreement.

🔹 Article 6.2

• Allows bilateral carbon credit trading between countries
• Based on mutually agreed terms
• Example: One country reduces emissions cheaply and sells credits to another

🔹 Article 6.4 (Paris Agreement Crediting Mechanism)

• A centralised UN-managed carbon market
• Carbon offsets verified and traded under UN supervision

📌 Why this matters?

Carbon markets can:
→ Reduce global mitigation costs
→ Channel finance to developing countries
→ Incentivise cleaner technologies

Declaration on Reducing Methane from Organic Waste

• Endorsed by 30+ countries (US, UK, Germany, UAE, etc.)
• India is NOT a signatory

Focus area

• Methane from the waste sector (20% of global methane emissions)

Five priority areas

1. Nationally Determined Contributions (NDCs)
2. Regulation
3. Data
4. Finance
5. Partnerships

This builds on the Global Methane Pledge (30% reduction by 2030), which India has also not joined.

📌 UPSC angle: Methane is a short-lived but highly potent greenhouse gas—critical for near-term climate control.

Indigenous Peoples & Local Communities

COP29 strengthened the Local Communities and Indigenous Peoples Platform (LCIPP).

Key developments:

• Adoption of the Baku Workplan
• Renewal of the Facilitative Working Group (FWG) mandate

Baku Workplan focuses on:

• Bridging indigenous knowledge with modern science
• Enhancing participation in climate decision-making
• Embedding indigenous values into climate policies

📌 Fact recall

• FWG was established at COP24
• Progress review scheduled for 2027

Gender and Climate Change

• Lima Work Programme on Gender (LWPG) extended for 10 years
• A new Gender Action Plan to be adopted at COP30 (Belém, Brazil)

LWPG (since 2014) aims to:
→ Promote gender balance
→ Ensure gender-responsive climate policy under UNFCCC and Paris Agreement

Baku Harmoniya Climate Initiative for Farmers

Launched by COP29 Presidency with Food and Agriculture Organization (FAO).

Objective

• Integrate scattered climate initiatives in food & agriculture
• Make support and finance easier for farmers to access

📌 Important: Agriculture is both victim and contributor to climate change.

🇮🇳 India’s Stance at COP29

❌ Rejection of the Climate Finance Deal

India rejected the NCQG, stating:

• USD 300 billion is grossly inadequate
• Developing countries need USD 1.3 trillion annually
• At least USD 600 billion should be grants or grant-equivalent

👉 India stood with the Global South on climate justice.

📜 Article 9 of the Paris Agreement – India’s core argument

India emphasised:

• Developed countries must lead climate finance
• Responsibility is based on historical emissions

However:

• Final text diluted this principle
• Shifted responsibility to “all actors”, including developing countries

📌 This undermines the principle of Common But Differentiated Responsibilities (CBDR).

🤝 Solidarity with Vulnerable Nations

India supported:

• Least Developed Countries (LDCs)
• Small Island Developing States (SIDS)

These countries walked out of negotiations, protesting unfair finance targets.

🌱 Why is COP Important for India?

1️⃣ India’s Climate Commitments

• First NDC: 2015
• Updated in 2022
• Achievements:
  • 33–35% reduction in emissions intensity
  • 40% installed capacity from non-fossil fuels

2️⃣ Access to Climate Finance

• India benefits from:
  • Green Climate Fund
  • Carbon markets
• COP discussions on Loss and Damage Fund are crucial for:
  • Floods
  • Cyclones
  • Extreme weather events

3️⃣ Global Climate Leadership

India showcases leadership through:

• International Solar Alliance (ISA)
• Promotion of sustainable energy pathways

4️⃣ Voice of the Global South

India leads:

• LMDC (Like-Minded Developing Countries)
• BASIC group

Also promotes initiatives like:

• LiFE (Lifestyle for Environment)
• Mangrove Alliance for Climate

Conclusion

COP29 highlighted the growing fault line between climate ambition and climate justice—where finance, equity, and responsibility remain the central battleground, with India emerging as a strong voice of the Global South.