The 2024 UNCCC COP29 begins in Baku
The Nations Climate Change Conference COP29 began on November 11, in Baku, revealing a significant gap between political statements and actual country plans and policies, according to IRENA’s latest report.
The report urges countries to update their Nationally Determined Contributions (NDC) to align with global goals of tripling renewable energy capacity and doubling energy efficiency by 2030.
The UN climate talks started at the opening day, featuring opening remarks from outgoing COP28 President Sultan Al Jaber, COP29 President Muktar Babayev, and UN Climate Change Executive Secretary Simon Steele.
Steele called on countries to strengthen the power of global cooperation. He noted that the climate crisis affects everyone and every aspect of life, and no country is safe from it.
He noted the key outcomes expected from COP29: establishing new global climate finance targets, launching international carbon markets, advancing COP28 goals, setting adaptation targets, and creating new financial and technical support mechanisms for damages and losses.
Negotiations must conclude before countries submit their updated Nationally Determined Contributions (NDCs 3.0) by February 2025, making it essential to raise ambition in the next eleven days.
World Energy Transition Outlook
The International Renewable Energy Agency (IRENA) released its World Energy Transitions Outlook 2024 at the opening ceremony. Francesco La Camera, the Director General of IRENA, highlighted the crucial importance of National Determined plans “NDC’s 3.0 is the last chance for countries to raise their declared ambitions this decade,” he said.
IRENA presented its 1.5°C scenario at the start of COP29, outlining a plan to achieve net-zero emissions by mid-century. It helps governments create energy transition strategies aligned with energy planning and climate policies while managing investments more efficiently.
It identifies electrification and efficiency as key transformation drivers, enabled by renewable energy, clean hydrogen and sustainable biomass.
The report stated that even with full implementation of COP declarations, a large CO2 emissions gap would still exist by 2050.
Current country commitments could reduce global energy-related CO2 emissions by 3% by 2030 and by 51% by 2050. The 2030 targets from COP28 aim to triple renewable energy capacity and double energy efficiency, which are essential for achieving net-zero emissions.
However, a significant gap remains between political declarations and the country’s actual plans and policies.
ourtesy: Climate Action
