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COP29 in Baku to Address Climate Finance and Global Disparities.


Baku: In less than two weeks, Baku, the capital city of Azerbaijan, is set to host the 29th Conference of Parties (COP29) to the UN Framework Convention on Climate Change (UNFCCC) from November 11 to 22. This global climate conference comes at a crucial time as climate extremes continue to devastate regions worldwide, raising urgent questions about how nations will address the pressing need for a climate-safe world.

According to National News Agency RSS, recent climate disasters highlight the urgent need for effective climate action. Spain has faced a catastrophic flash flood, resulting in the death of 158 people and widespread property damage. The Spanish Prime Minister has declared Valencia a disaster zone, warning residents to remain indoors as the threat of severe weather persists. Similarly, Nepal experienced devastating floods and landslides in late September, which claimed over 240 lives and caused damage amounting to over Rs 46 billion.

The UN Climate Change Executive Secretary, Simon Stiell, has em
phasized the importance of COP29 in addressing climate finance and supporting developing countries to mitigate climate impacts. The Nationally Determined Contributions (NDC) Synthesis Report reveals significant gaps between climate commitments and actions, underscoring the need for concrete outcomes at COP29.

A recent Emissions Gap Report 2024 further highlights the disparity between nations’ climate rhetoric and actual efforts. It warns that without substantial reductions in global emissions by 2030, limiting global warming to 1.5°C or 2°C will become increasingly challenging.

As the world grapples with these challenges, the role of global leadership in addressing climate change is under scrutiny. The upcoming elections in over sixty countries, including the United States, will determine how seriously new and existing leaders prioritize climate action on the global stage.

The inclusion of tech giants as significant contributors to climate pollution has also come to the forefront. The expansion of artifici
al intelligence and information technology has prompted calls for these companies to be held accountable for their environmental impact.

For countries like Nepal, which contribute minimally to global greenhouse gas emissions yet face disproportionate climate impacts, COP29 presents an opportunity to advocate for climate justice and finance. Nepal’s participation under the leadership of President Ramchandra Paudel aims to leverage COP29 as a ‘Finance COP,’ emphasizing the need for equitable climate finance distribution.

Domestically, Nepal must focus on building technical and institutional capacities for climate finance mobilization, scientific assessments, and good governance. Integrating climate actions into everyday life, respecting indigenous knowledge, and promoting sustainable agricultural and forestry practices are crucial for effective adaptation.

Researcher and writer Somat Ghimire has highlighted the neglect of indigenous knowledge in agriculture and forest management in his book ‘Samudayik Samajb
ad’ (Community-based Socialism). He argues for the recognition of indigenous communities as nature’s guardians and the need for responsible climate practices both domestically and globally.

Nepal’s participation at COP29 seeks to combine effective negotiation for climate justice with showcasing successful practices in carbon trade and clean energy. The country’s involvement in the conference aims to ensure fair climate finance distribution, benefiting vulnerable nations and promoting global climate equity.