Tackling Climate Change Since 1995: What Is COP?

COP29 is upon us and, if you’re interested in sustainability, you'd be pretty hard pressed to have missed it over the years. 

But what actually is COP? 

COP, or the Conference of the Parties, is the supreme decision-making body of the United Nations Framework Convention on Climate Change (UNFCCC). It consists of representatives from all countries that are Parties to the Convention, which currently includes 197 nations. 

The COP's primary role is to review the implementation of the convention and its legal instruments, assess progress in achieving climate objectives and make necessary decisions to enhance effective implementation. 

In practical terms, COP has been the world's premier forum for addressing global climate challenges since 1995. 

The COP meets annually, except in extraordinary circumstances, such as during the COVID-19 pandemic. Each meeting is numbered sequentially and often results in significant agreements like the Kyoto Protocol and the Paris Agreement.

“In our fractured and divided world, COP28 can show that multilateralism remains our best hope to tackle global challenges,” said UN Secretary General António Guterres towards the end of COP28 in UAE.

COP29 is taking place in Baku, Azerbaijan, and the spotlight is firmly on climate finance, with world leaders and stakeholders set to negotiate a new collective quantified goal (NCQG) for climate funding.

The history of COP

The COP originated from the UNFCCC, established during the Earth Summit in Rio de Janeiro in 1992 to address global climate change.

The first COP meeting took place in Berlin in 1995 and, since then, annual COP meetings have been instrumental in shaping global climate policy. 

Notable milestones include the Kyoto Protocol in 1997 and the landmark Paris Agreement in 2015.

COP29: Finance COP

The World Economic Forum has dubbed COP29 the "finance COP", reflecting the centrality of funding discussions to this year's agenda. 

For the first time in 15 years, parties will negotiate a new NCQG, replacing the existing target of US$100bn annual spend by developed countries to support climate action in developing nations.

This new goal is expected to be significantly higher – potentially in the trillions of dollars – to meet the scale of the climate challenge.

COP29, taking place 11-22 November 2024, comes at a critical juncture. Mukhtar Babayev, COP29 President, emphasises the urgency of the situation: “We are on a road to ruin. But these are not future problems. Climate change is already here.

"Whether you see them or not, people are suffering in the shadows. They are dying in the dark and they need more than compassion, more than prayers and paperwork. They are crying out for leadership and action.

“COP29 is the unmissable moment to chart a new path forward for everyone.”

COP29 themes and zones

The conference will feature various thematic days, each focusing on specific aspects of climate action. COP29 themes:

• 12 Nov: World Leaders Climate Action Summit
  
• 13 Nov: World Leaders Climate Action Summit
  
• 14 Nov: Finance, Investment and Trade
• 15 Nov: Energy / Peace, Relief and Recovery
• 16 Nov: Science, Technology and Innovation / Digitalisation
• 17 Nov: Rest day with no thematic programming
• 18 Nov: Human Capital / Children and Youth / Health / Education
• 19 Nov: Food, Agriculture and Water
• 20 Nov: Urbanisation / Transport / Tourism
• 21 Nov: Nature and Biodiversity / Indigenous People / Gender Equality / Oceans and Coastal Zones
• 22 Nov: Final Negotiations 

The COP29 Presidency has also announced several initiatives, including the Green Energy Zones and Corridors Pledge, the Global Energy Storage and Grids Pledge, and the Hydrogen Declaration.

These themes and initiatives reflect the multifaceted nature of climate action and the need for a comprehensive approach. 

“This UNFCCC process is the only place we have to address the rampant climate crisis, and to credibly hold each other to account to act on it,” said Simon Stiell, UNFCCC Executive Secretary, at the opening of COP29.

“And we know this process is working. Because without it, humanity would be headed towards five degrees of global warming.

“This crisis is affecting every single individual in the world one way or another. And I’m as frustrated as anyone that one single COP can’t deliver the full transformation that every nation needs. But if any of your answers to those questions was no, then it is here that Parties need to agree a way out of this mess.

“That’s why we're here in Baku. We must agree a new global climate finance goal.

“If at least two-thirds of the world's nations cannot afford to cut emissions quickly, then every nation pays a brutal price. If nations can’t build resilience into supply chains, the entire global economy will be brought to its knees.  No country is immune.

“So, let's dispense with the idea that climate finance is charity. An ambitious new climate finance goal is entirely in the self-interest of every single nation, including the largest and wealthiest.”

A key focus of COP29 will be the operationalisation of the Fund for Responding to Loss and Damage (FRLD), agreed at COP28. This fund aims to assist developing countries particularly vulnerable to the adverse effects of climate change. World leaders are expected to announce new financial pledges to capitalise the FRLD and align its arrangements with the NCQG2.

Another crucial area of negotiation will be the Article 6 rules of the Paris Agreement, which set the framework for international carbon trading. Finalising these rules is essential for establishing a functional global carbon market – a key tool in driving emissions reductions.

Looking ahead to COP30

The outcomes of COP29 will have significant implications for COP30, set to take place in Belém, Brazil, in November 2025. 

COP30 is expected to focus on implementing national climate plans (NDCs), building on the financial mechanisms and agreements established in Baku.

The success of COP29 will be measured not just by the agreements reached, but by their potential to drive real-world action. As the global community grapples with increasingly severe climate impacts, the pressure to deliver tangible results has never been higher.

The negotiations in Baku will play a crucial role in determining whether the world can keep the 1.5°C target within reach and mobilise the resources necessary to adapt to a changing climate.

"There is nothing easy about this challenge or these negotiations, but this process is better than any alternative,” Mukhtar says. 

“It is our best hope and we must now do whatever it takes to make it work". 

As COP29 takes place, all eyes are on Baku, watching to see if this hope can be translated into concrete action.

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