The COP29 Presidency’s plan is based on two mutually reinforcing parallel pillars. The first pillar — to ‘enhance ambition’ — combines key elements to ensure all parties commit to ambitious national plans and transparency. The second pillar — to ‘enable action’ — reflects the critical role of finance, a key tool to turn ambition into action and reduce emissions, adapt to climate change and address loss and damage.
In June 2024, Ipieca took part in the UNFCCC Bonn Climate Change Conference. This convened government, business and NGO representatives to provide governments with the scientific and technical knowledge needed to make informed and ambitious decisions during COP29 in Baku, and provided insights into what the key issues at COP29 will be:
Finance
The New Collective Quantified Goal on climate finance is expected to be agreed upon by Parties at COP29.
Article 6
Negotiators will aim to complete a fully operationalised Article 6, including carbon credit authorisation, activity scope and the international carbon market registry.
Mitigation
There is an expectation that discussions will focus on using investment related events to unlock funding and ensuring inclusive dialogue - including regional dialogues - to raise mitigation implementation.
Adaptation
COP29 is expected to focus on financial and technical support to enable countries to develop and implement National Adaptation Plans (NAPs).
Nature and Indigenous Peoples
Recognising the connection between climate, nature and people, COP29 includes these topics as part of its thematic programme.