UNFCCC COP29 Baku | 25 Nov 2024

Source: IE 

Why in News?

Recently, the United Nations Framework Convention on Climate Change (UNFCCC) Conference of the Parties 29 (COP29) concluded in Baku, Azerbaijan. This conference saw around 200 countries negotiate agreements aimed at addressing global climate challenges. 

What are the Key Highlights of the COP29? 

• New Climate Finance Goal: A major breakthrough at COP29 was the New Collective Quantified Goal on Climate Finance (NCQG). It aims to triple climate finance for developing countries to USD 300 billion per year by 2035 from the previous goal of USD 100, with developed countries taking the lead.  
  • It also makes a general call on all actors to scale up climate financing to USD1.3 trillion per year by 2035 from all public and private sources to help developing countries mitigate and adapt to climate impacts. 
• Carbon Markets Agreement: COP29 reached a landmark agreement to finalise the mechanisms for carbon markets, including country-to-country trading (Article 6.2 of the Paris Agreement) and a centralised carbon market under the United Nations (UN) (Article 6.4 of the Paris Agreement). 
  • Article 6.2, allows bilateral agreements between countries to trade carbon credits based on mutually agreed terms. 
  • Paris Agreement Crediting Mechanism (also known as Article 6.4) seeks to develop a centralised, United Nations-managed carbon emissions offset and trading system. 
• Declaration on Reducing Methane: Over 30 countries, including the US, Germany, UK, and UAE, endorsed the COP29 Declaration on Reducing Methane from Organic Waste (India is not a signatory).  
  • The declaration targets the waste sector’s methane emissions, which contribute to 20% of global methane emissions. It focuses on five priority areas: Nationally Determined Contributions (NDCs), regulation, data, finance, and partnerships. 
  • Countries are encouraged to include sectoral targets for reducing methane emissions from organic waste in their NDCs.  
  • This builds on the Global Methane Pledge (India is not a signatory) to reduce global methane emissions by 30% by 2030, addressing methane from agriculture, waste, and fossil fuels. 
• Indigenous Peoples and Local Communities: COP29 reinforced the importance of Indigenous Peoples and local communities in addressing climate change. 
  • COP29 adopted the Baku Workplan and renewed the Facilitative Working Group (FWG) mandate under the Local Communities and Indigenous Peoples Platform (LCIPP). 
    • The Baku work plan prioritises bridging indigenous knowledge with modern science, enhancing indigenous participation in climate dialogues and embedding indigenous values into climate policies. 
    • The FWG will implement the Baku Workplan in a gender-responsive and collaborative manner, with a review of progress scheduled for 2027. 
    • FWG of the LCIPP is a constituted body established at COP24 to further operationalize the LCIPP and facilitate its functions on knowledge, engagement, and climate policies, working with diverse bodies. 
• Gender and Climate Change: A decision was made to extend the Lima Work Programme on Gender (LWPG) for another 10 years, reaffirming gender equality in climate action and the need for a new gender action plan to be adopted at COP30 (Belém, Brazil). 
  • Established in 2014, the LWPG aims to advance gender balance and integrate gender considerations to ensure gender-responsive climate policy and action under the Convention and the Paris Agreement. 
• Baku Harmoniya Climate Initiative for Farmers: The COP29 Presidency in partnership with the Food and Agriculture Organization (FAO) launches the Baku Harmoniya Climate Initiative for Farmers. 
  • It is a platform that brings together the dispersed landscape of existing climate initiatives in the field of food and agriculture, in order to make support for farmers easier to find and to facilitate access to finance.  

What is India’s Stance at COP 29? 

• Opposition to the Deal: India rejected the NCQG, criticising it for its inadequacy. The USD 300 billion pledge was deemed insufficient for addressing the climate challenges faced by developing nations. 
  • India, alongside other Global South countries, has been advocating for at least USD 1.3 trillion annually to meet the growing demands of climate change mitigation and adaptation in developing nations, with USD 600 billion as grants or grant-equivalent resources.  
• Article 9 of the Paris Agreement: India emphasised that developed countries should lead in mobilising climate finance, in line with Article 9 of the Paris Agreement, which places responsibility on developed nations.  
  • However, the final deal shifted the responsibility to all actors, including developing countries, instead of holding developed nations accountable for their historical emissions and financial commitments. 
• Solidarity with Vulnerable Nations: India backed the concerns of Least Developed Countries (LDCs) and Small Island Developing States (SIDS), who walked out of the negotiations, citing that their demands for a fair and adequate financial target were being ignored.  

Why is COP Important for India? 

• India's Climate Commitments and Achievements:  India’s first NDC was submitted in 2015, and it updated its climate goals in 2022, highlighting achievements such as reducing emissions intensity by 33–35% and meeting 40% of its energy capacity from non-fossil fuels. 
• Securing Climate Finance: India has been a major beneficiary of funds through mechanisms like the Green Climate Fund and carbon credits markets. 
  • COP discussions on the Loss and Damage Fund are crucial for India to secure financial support for addressing the climate-induced impacts such as floods and cyclones. 
• Global Climate Leadership: COP provides India the opportunity to assert its leadership in global climate action, with initiatives like the International Solar Alliance (ISA) to drive sustainable solutions for the global climate challenge. 
• Leveraging International Influence: India leads the Like-minded Developing Countries (LMDC) and BASIC group at COP, amplifying the voices of the Global South and advocating for equitable climate action and finance. 
  • Platforms like COP provide India opportunities to promote initiatives like the Lifestyle for Environment (LiFE) and Mangrove Alliance for Climate. 

How has India’s Role in Global Climate Governance Evolved? 

• 1970s to 2000s: India was cautious about Western environmental calls, fearing they would hinder its economic development. 
  • At the 1972 Stockholm Conference, the then Prime Minister Indira Gandhi emphasised the need to balance environmental protection with poverty alleviation. 
  • By signing the UNFCCC in 1992 at the Earth Summit in Rio de Janeiro, India formally embraced sustainable development and supported Common But Differentiated Responsibilities (CBDR), which recognised the varying capacities and responsibilities of developed and developing nations. 
  • India hosted COP8 in 2002, marking its shift from a passive participant to an active role in climate negotiations. 
  • India launched the National Action Plan on Climate Change (NAPCC) in 2008, demonstrating its commitment to reducing emissions and promoting renewable energy. 
• Post-2015: The Paris Agreement, 2015 marked a pivotal shift in global climate governance, allowing developing nations like India to contribute to climate action without facing disproportionate obligations. 
  • The transition from rigid emission reduction targets to voluntary Nationally Determined Contributions (NDCs) enabled India to align its climate commitments with developmental priorities. 
  • India submitted its Nationally Determined Contributions (NDCs) and updated them in 2022. 
  • India contributed USD 1.28 billion to climate finance for other developing countries in 2022, reinforcing its role as a climate leader. 
• Advocacy for Climate Equity and Justice: India advocates for developed nations to provide financial and technological support to developing countries and actively supports mechanisms like the Green Climate Fund and Loss and Damage Fund. 
• Leading Global Initiatives:  
  • International Solar Alliance (ISA): Launched in 2015 by India and France at the COP21 summit in Paris, ISA aims to promote solar energy adoption globally. 
  • Lifestyle for Environment (LiFE): Advocates sustainable consumption patterns to reduce carbon footprints. 
  • Mangrove Alliance for Climate: Promotes the conservation of mangrove ecosystems to mitigate climate impacts.