On Thursday 10 October, the European Commissioner for Climate Action, Wopke Hoekstra, began a two-day visit to Baku, Azerbaijan, to participate in a ministerial-level meeting ahead of COP29 (11–22 November) to discuss climate finance, adaptation, mitigation and carbon markets.
The aim of this “pre-COP” is neither to negotiate nor to reach a first conclusive text. However, it does remain “an excellent opportunity to prepare the ground for achieving ambitious results”, according to Mr Hoekstra, who was speaking on social network X.
During this first day of discussions, the Commissioner attended a meeting with the COP29 President-Designate, Mukhtar Babayev, which provided an opportunity to go back over the “layered” structure of the “new quantified collective target” on climate finance (NCQG) (see EUROPE 13431/7), the broadening of the contributor base and the critical role of private finance in achieving climate objectives.
One of the major issues at this COP is financial support for developing countries that are vulnerable to climate change: the annual ceiling of 100 billion dollars that was set at COP15 in 2009, needs to be increased from 2025 onwards.
Earlier this week, the Council of the EU approved its conclusions on climate finance, mentioning its intention to support the achievement of new ambitious collective quantified targets after 2025 (see EUROPE 13499/23).
The negotiating mandate for COP29 is due to be adopted at the Environment Council on 14 October.
On 10 October, Mr Hoekstra also took part in a round table discussion at a side event entitled ‘Roadmap to Mission 1.5,’ on the preparation of the next series of ‘Nationally Determined Contributions’ (NDCs). Due in February 2025, these are aimed at ensuring the transition away from fossil fuels becomes a reality (see EUROPE 13430/4). (Original version in French by Pauline Denys)