COP29: Fighting protectionism and apathy

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Sustainable Switch

By Sharon Kimathi, Energy and ESG Editor, Reuters Digital

Hello!

Happy COP29! Today marks the first day of talks at the 29th Conference of the Parties in Baku, Azerbaijan, and the first daily Sustainable Switch during the summit until Nov 22.

Delegates hope to resolve the talks' top agenda item – a deal for up to $1 trillion in annual climate finance for developing countries, replacing a target of $100 billion.

But the financing goal is competing for attention with economic concerns, wars in Ukraine and Gaza, and the election of Donald Trump, a climate-change denier, for a second term as president of the United States, the world's biggest economy.

Although Trump's victory has reduced the chance of a strong deal on a new global finance target, Democratic governors of two U.S. states pledged to keep building programs on renewable energy and curbing climate change.

Michai Robertson, finance negotiator for the Alliance of Small Island States, told Reuters the impact of a Trump presidency could be greater given more countries were "leaning right" politically.

Simon Stiell, Executive Secretary of UNFCCC, Sultan Al Jaber, COP28 President, and Mukhtar Babayev, COP29 President, at the COP29 opening in Baku, Azerbaijan. REUTERS/Maxim Shemetov

Protectionist measures

Trump's win has already affected the COP29 agenda on climate finance discussions as China asked for the summit to address "restrictive trade measures" following Trump's campaign promise to impose 20% tariffs on all foreign goods, and 60% on Chinese goods.

China urged countries at COP29 to refrain from protectionist measures that make it more expensive to cut emissions, it said in a climate action plan.

China is already facing a new European Union tariff of up to 45.3% on Chinese electric vehicle imports. Additionally, the EU has imposed its carbon border tariffs going into effect in 2026. China made the proposal on behalf of the "BASIC" group of countries including Brazil, India and South Africa.

BASIC countries have been strong critics of the EU carbon border policy, which from 2026 will impose fees on imports of high-carbon goods, including steel and cement.

Disengagement

Outside of tariff talks, many people gathered in Baku worry U.S. disengagement could lead other countries to backpedal on existing climate pledges or scale back future ambitions.

"People will be saying, well, the U.S. is the second biggest emitter. It's the biggest economy in the world ... If they don't set themselves an ambitious target, why would we?" Marc Vanheukelen, the EU's climate ambassador from 2019 to 2023, told Reuters.

But it's not just the results in the U.S. elections that have added to the feeling of apathy at this year's COP29.

Host nation Azerbaijan has lobbied governments to accelerate their move to clean energy while touting gas as a transition fuel. Oil and gas make up roughly half of

Azerbaijan's economy, and 90% of its exports.

Azerbaijan has drawn international criticism for its role in promoting fossil fuel deals ahead of the climate summit following an investigation by non-profit group Global Witness.

Additionally, advocates and activists like Greta Thunberg criticized Azerbaijan for greenwashing and jailing political prisoners including journalists and ethnic Armenians, in an opinion piece for the Guardian.

President Ilham Aliyev has rejected the criticism and said it could undermine peace negotiations with Armenia.

Read below for what else was important at COP29 today and scroll down for a spotlight on Chile's giant geoglyphs.

Today's COP29 news

Climate Justice Coalition activists take part in a pro-Palestinian protest during the United Nations climate change conference COP29 in Baku, Azerbaijan. REUTERS/Maxim Shemetov

Exclusive: Host nation Azerbaijan invited Afghan's Taliban environment agency officials to COP29, a diplomatic source familiar with the matter told Reuters. The U.N. has not allowed the Taliban to take up Afghanistan's seat at the General Assembly, and Afghanistan's government is not formally recognised by U.N. member states, largely due to the Taliban's restrictions on women's education and freedom of movement.
Click here to learn more about countries at COP29 attempting to agree to rules for a global system for trading carbon offset credits.
Exclusive: The Asian Development Bank will increase its climate-related lending by up to $7.2 billion after the United States and Japan agreed to underwrite risk for some existing loans, an ADB executive told Reuters, marking the first ever sovereign guarantees for climate finance.
Next year's COP30 host Brazil announced details of its new climate change pledge target to lower the country's greenhouse gas emissions by 2035. The new target aims to reduce emissions by 59% to 67% by 2035, as compared to 2005. Brazil had previously set a target of a 53% reduction by 2030.

In Conversation

Amira Diamond and Melinda Kramer, co-founders of the Women's Earth Alliance (WEA), share their thoughts about women-led climate initiatives and climate financing:

"Climate finance will be a centerpiece of COP29 and a critical opportunity to increase financing for women-led climate initiatives, which have historically been short-changed in global climate action.

"Women's networks are fundamental to solving some of the planet's most pressing challenges but need increased financial investments and resources.

"Studies show that empowering and educating women and girls could reduce nearly 70 gigatons of carbon dioxide equivalent emissions by 2050 — one of the highest-ranking mitigation solutions.

"Women's involvement in conservation and natural resource management leads to the implementation of more sustainable climate practices and healthier, more resilient communities.

"We see this firsthand from women we partner with around the world.

"In Indonesia, indigenous women deploy innovative initiatives to defend and conserve their ancestral lands. In Kakamega, Kenya, women lead widespread tree-planting initiatives to support erosion control and climate adaptation.

"COP29 presents an unprecedented opportunity to reinforce the profound connection between empowering women and strengthening the efficacy and capacity to confront today's deepening climate crisis.

"Leveraging women's leadership is not just a moral imperative; it's a climate imperative. It's the accelerated pathway to building a more equitable, sustainable, and resilient future.

"When women thrive, the Earth thrives."

Talking Points

People mourn Palestinians killed in Israeli strikes, at Nasser hospital in Khan Younis in the southern Gaza Strip. REUTERS/Hatem Khaled

U.N. Human Rights Office said nearly 70% of the fatalities it has verified in the Gaza war were women and children, and condemned what it called a systematic violation of the fundamental principles of international humanitarian law.
A Dutch court will decide whether to uphold a landmark climate ruling against Shell which in 2021 ordered the oil and gas company to sharply reduce greenhouse gas emissions by 45% by 2030 compared to 2019 levels, including those caused by the use of its products.
The Montreal Longshoremen's Union rejected a final offer made for a new labor contract, leading to a lockout being declared, the Maritime Employers Association (MEA) and the union said.

ESG Spotlight

A drone view shows the ancient geoglyph of 'El Gigante de Tarapaca' placed on 'Unita' hill close to 'Huara' town area, in Atacama desert, Iquique, Chile. REUTERS/Ivan Alvarado

Today's spotlight shines a light on local residents in Chile working with a local museum and authorities to protect the nation's giant desert geoglyphs which have been destroyed by off-roaders.

Over a thousand years ago, the hundreds of giant geoglyphs carved into the desert in northern Chile were a bustling scene. They marked sources of water in the vast arid landscape and were where locals came together to trade skins, animals and fish.

Now the carvings are scarred with hundreds of tire tracks from motorcycles and off-road vehicles tearing through the art creations in the landscape and permanently disfiguring them.

Today's Sustainable Switch was edited by Susan Fenton

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