The second week of the 29th Conference of the Parties (COP29) under the United Nations Framework Convention on Climate Change (UNFCCC) has commenced, setting the stage for a decisive moment in global climate action.

President COP29, Mukhtar Babayev, alongside UNFCCC Executive Secretary Simon Stiell and other key figures, outlined the conference’s achievements and challenges during a press conference held in the Karabakh Room.

Significant Milestones Achieved

President Babayev began by highlighting the progress made during the conference’s first week. The adoption of the official agenda marked a critical first step, overcoming long-standing differences among participating countries. Notable achievements include agreements on:

Article 6.4: Establishing frameworks for carbon markets to enable countries to trade emissions reductions.

Article 6.8: Promoting non-market-based climate solutions such as cooperative approaches and financial investments for sustainable development.

“These milestones demonstrate our collective resolve,” said Babayev. “But we must continue to push forward and tackle unresolved issues with urgency.”

Critical Challenges Ahead

Despite the progress, Babayev stressed the need for accelerated action, particularly in the areas of climate finance and addressing loss and damage. These issues have proven to be sticking points in negotiations, with vulnerable nations calling for more robust support from developed economies.

Babayev specifically urged the G20 nations—responsible for 75% of global GDP and a significant share of global emissions—to take a leadership role in climate action. “Without the proactive participation of the G20, our efforts will fall short,” he warned.

The Role of Political Leadership

The need for political will was a recurring theme during the briefing. Babayev emphasized the responsibility of major economies, including Brazil and the United Kingdom, to bridge gaps and build consensus. He also highlighted the role of oil-producing nations in driving the transition to green energy.

UNFCCC Executive Secretary Simon Stiell echoed these sentiments, noting, “Climate finance is not charity; it is a necessary investment in the resilience of vulnerable communities.”

Youth at the Center of the Agenda

Youth Climate Change Champion Layla Hasanova delivered a compelling address on the importance of involving young voices in climate negotiations. “This is not just about the future; it is about the present. Young people are already bearing the brunt of climate change,” she said.

Hasanova revealed that only 2.4% of global climate finance reaches children and youth. She called for more inclusive policies and financial resources to ensure the next generation is equipped to face mounting environmental challenges.

Pivotal Week Ahead

As COP29 enters its final week, the pressure on negotiators is mounting. Key priorities include:

Operationalizing agreements on carbon markets.

Finalizing frameworks for the New Collective Quantified Goal on Climate Finance (NCQG).

Addressing loss and damage to ensure justice for climate-vulnerable nations.

COP29 Technical Leader Harry Veruls and Chairman of the Subsidiary Body for Implementation (SBI) Nabeel Munir emphasized the importance of inclusivity and transparency in reaching balanced outcomes. “This is not a contest but a collective effort for the future of humanity,” Munir noted.

The Global Spotlight on COP29

With the eyes of the world on Baku, COP29 is poised to set the tone for the next decade of climate action. Babayev concluded the briefing with a call to action: “This is our moment to lead. Let us deliver the solutions our planet urgently needs.”

The outcomes of COP29 will shape global climate policies, determining whether humanity can rise to the challenge of securing a sustainable future.