Short and Long-Term Effects of COP29 on Climate » Capital News
BAKU, Azerbaijan Nov 11 – As COP29 kicks off in Baku, Azerbaijan, world leaders, climate experts and activists are meeting to address pressing climate issues, including reducing greenhouse gas emissions and securing funds to help vulnerable nations adapt to climate impacts.
These discussions could bring significant changes to daily life worldwide, from energy costs to economic policies.
Kenya’s delegation at the conference is led by Environment Cabinet Secretary Aden Duale who will be joined by Prime Cabinet Secretary Musalia Mudavadi representing President William Ruto.
Short-Term Impacts: Green Energy and Financial Commitments
One immediate change could be a shift in how nations build their economies, with more emphasis on developing green energy sources like wind and solar. If COP29 agreements encourage nations to prioritize renewable energy, we could see faster growth in green energy options, potentially leading to lower energy costs and cleaner air. However, this transition may also bring upfront costs, potentially reflected in energy prices.
Another crucial point of discussion is financial support for vulnerable nations impacted by climate change. Wealthier countries, including the UK, are currently contributing to these funds, often from taxpayer-funded aid budgets. If COP29 boosts commitments, private financial institutions may also play a more prominent role in funding climate action.
Long-Term Goals: Building a Safer, Cooler Planet
COP29 aims to forge long-term climate solutions to reduce the risk of extreme weather and prevent further warming. This year, temperatures reached alarming levels worldwide, with 2024 projected to be the hottest year on record, marked by severe hurricanes and deadly flooding events. The stakes are high: Prof. Joeri Rogelj of Imperial College London emphasizes the need for immediate action, warning that every year of inaction commits the planet to more warming and severe climate events.
Finance in Focus: Africa’s Push for Change
Dubbed “the finance COP,” COP29 is expected to focus on securing climate funds for developing nations, with African countries calling for an annual $1 trillion in adaptation funds by 2030. These funds would help countries build resilience in critical sectors like agriculture, health, and infrastructure. African leaders are also pressing for reforms in the global financial system to make climate finance more accessible, stressing that current support falls short of what’s needed to address climate-related damages and adaptation needs.
A sticking point is who should contribute. China and Gulf nations are considered developing economies and are currently exempt, but the EU and other wealthy countries argue that this needs to change for the global climate fund to grow. Richer nations also need to deliver on past pledges under the 2015 Paris Agreement to prevent global temperatures from rising above 1.5°C.
The Controversies: Fossil Fuels and Human Rights Concerns
COP29’s location in Azerbaijan has sparked debate, as the country plans to expand its gas production by a third in the coming decade, which appears at odds with the conference’s goals to transition away from fossil fuels. Furthermore, Azerbaijan’s human rights record and control over political opposition have raised concerns about holding a pivotal climate conference there. Observers worry that Azerbaijan may leverage COP29 to attract investment into its oil and gas industries, complicating the push toward renewable energy.
The Road Ahead: Adapting National Climate Goals
National commitments to address climate change will also come under scrutiny. Every five years, countries must update their climate action plans, with the next deadline in February 2025. If COP29 results in weak plans that fail to curb emissions effectively, tensions could arise, especially among countries already grappling with climate impacts.
With many eyes on COP29, the hope is that global leaders will reach binding agreements that lead to tangible progress against climate change.
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