The current global debate on mitigation measures is more alive than ever before in view of the global geopolitical evolution and the still evident division between North and South of the World. The United Nations Climate Change Framework Conference, being held in Baku (Azerbaijan) from the 11th to the 12th November 2024, focused on creating appropriate investment mechanisms to support concrete actions, not without difficulties.
The delegation from the Principality of Monaco actively participated in the working tables aimed at defining a new funding target by 2030 to support developing countries in their efforts to mitigate and adapt to climate change. The international Summit wound up addressing key issues to finalise carbon offsets market mechanisms, in the footsteps of Paris Agreement (COP15) .
Céline Caron-Dagioni, Advisor to the Prince's Government and Minister of Equipment, Environment and Urban Planning, visited Baku (Azerbaijan) from the 18th to the 20th November 2024 to join the ministerial segment of the 29th session of COP29.
In her keynote speech, she referred to the measures deployed on Monegasque territory to reduce greenhouse gas emissions, reaffirming the need for everyone to increase their commitments in the implementation of Paris Agreement.
The Minister of Equipment, Environment and Urban Planning attended a series of high-level technical events, including a ministerial roundtable on urban planning and climate change, in the presence of other members of Prince's Government, notably: Jérémie Carles, Head of Division at the Environment Directorate; Laetitia Rebaudengo, Section Head at the Environment Directorate; Céline Gindre, Section Head at the Environment Directorate and Carl Dudek, Editor at the Department of External Relations and Cooperation.
The debate, within the UN international conference, was an intense and difficult process that was postponed by one day (originally scheduled on the 22nd November). The latest negotiations on Saturday the 23rd have led to a result not shared by many. After two weeks of close debate, Member States allocated USD 300 billion per year for ten years to support the green transition through climate mitigation actions in the world’s poorest countries. An amount considered insufficient by countries to which the funds are intended, even though it represented a slight improvement compared to the original proposal (USD 25o billion per year by 2035), but more than double the previous target of USD 100 billion per year, set fifteen years ago (behind in enforcement). Thus, the COP29's framework decision led to a slight step forward towards a decarbonised future, seeing European Union and small islands opposed to major oil-producing countries.
On the 21st November 2024, António Guterres, United Nations Secretary-General, highlighted: « The clock is ticking. COP29 is now down to the wire. Failure might jeopardize both near-term action and ambition in the preparation of new national climate action plans». In his keynote speech, the highest UN official stated that many differences still remain at global level. This impasse must be overcome as soon as possible to put a stop on the negative trend that brings us closer to irreversible climate tipping points while making it more difficult to lay foundations in view of COP30, that will be held in Belem (Amazonia, Brazil) next year.
The COP29's targets should by achieved by a multi-layered funding mechanism, providing new forms of financing, like taxes on fossil fuels and carbon credits exchange, as well as through investments from the private sector. We must then act to ensure that the decisions taken at COP29 will be put into practice as soon as possible worldwide. ***
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By Maurice Abbati
Journalist; Editor; Communication, Media and Public Relations Specialist
Lecturer and Author in English language of Technical Articles and the Manual: "Communicating the Environment to Save the Planet, a Journey into Eco-Communication" by Springer International Publishing.
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