COP29 Brief: Some hits and many misses in Baku

Another COP has come and gone – so, what stood out at COP29? This year’s annual United Nations climate summit, hosted in Baku, Azerbaijan, brought together world leaders, negotiators, and other stakeholders, to (hopefully) make progress on pressing climate issues. Overall, the outcomes of COP29 reflected a mix of progress and stalemates.

In this COP29 Brief, Climate Focus summarizes key takeaways from the COP29 – both inside and outside of the negotiating rooms. Read the full brief to learn more about:

• The New Collective Quantified Goal (NCQG): The NCQG is set to replace the previous climate finance goal of USD 100 billion per year. The final text establishes a target to mobilize at least USD 300 billion per year by 2035 for developing countries, with developed countries “taking the lead.” The NCQG decision received mixed reactions, with developing countries expressing their dissatisfaction over its perceived lack of ambition.
• Article 6 Operationalization: After nearly a decade of complex and often contentious negotiations, Parties achieved full operationalisation of Article 6, dubbed the “Baku Breakthrough” – a major milestone that COP29 will surely be remembered for.
• Efforts to advance the GGA, the GST, and the MWP: COP29 saw both advancements – though, not all of them embraced universally – as well as lackluster progress on various commitments from previous COPs, such as the Global Goal on Adaptation (GGA), the Global Stocktake (GST), and the Mitigation Work Programme (MWP).
• Outside the negotiating rooms: COP29 buzzed with activity beyond the formal negotiations. Key topics included food systems, nature-based solutions, and efforts to scale climate finance beyond the NCQG. Enhanced national climate plans (NDC 3.0) also took center stage, alongside broader discussions on private sector engagement and innovation.

Read the full brief: COP29 Client Brief: Some hits and many misses in Baku