SA expects the presidency of the UN Climate Change Conference (COP29) to prioritise funding for developing countries, said Peter Mbelengwa, spokesperson for the department of forestry fisheries, & the environment, on Sunday night, before the conference’s start on Monday.
The SA delegation, led by minister Dion George, is heading to Baku, Azerbaijan, to join about 80,000 delegates at the two-week event. The conference will bring together global leaders to raise awareness and accelerate climate action.
“Minister George has indicated that SA expects the COP29 presidency to enhance efforts to finalise the new collective, quantified goal on finance — a matter of great importance for developing economies like ours,” Mbelengwa said. “As he has indicated before, the current financial mechanisms have proven insufficient in scale and effectiveness, highlighting the urgency for a new financing model.”
The climate change conference occurs at a critical moment, marked by intensifying geopolitical tensions, heightened trade protectionism, and divisive debates on issues such as carbon border adjustments.
The most urgent issue at COP29 is establishing a clear path to phasing out emissions. However, Donald Trump’s recent re-election as US president is widely perceived as a major setback, potentially derailing these goals and casting a shadow over the summit.
“It has dealt a severe blow to the summit’s ambitions,” said Francois Engelbrecht, professor of climatology and head of the Global Change Institute at Wits University.
Signalled intentions
For global climate efforts to succeed, the world’s largest economies must lead the way, both in funding and driving the transition to renewable energy. Though the newly elected US president has yet to issue an official statement on climate, his history and campaign rhetoric make his position unmistakable: climate change is not a priority.
Trump has already signalled intentions to withdraw the US from the Paris Agreement, as he did during his first term. The agreement aims to keep global temperature rise well below 2°C, with efforts to limit it to 1.5°C.
“At COP29, the Biden administration was expected to announce that they would reduce their emissions by 65% by 2030, relative to 2005 levels,” Engelbrecht said. “There was hope that the US would set an example and galvanise other nations, including the world’s largest emitter, China, into action.”
Internal discussions among Trump’s advisers suggest that the US may also pull out of the UN Framework Convention on Climate Change (UNFCCC), a move that could severely destabilise international climate negotiations.
Climate finance — securing funds to help developing countries transition to sustainable energy — is another critical topic at COP29. Trump’s election introduces fresh uncertainty about US financial commitments.
SA has already received an R8.5bn loan to support its energy transition. However, Engelbrecht warns that future funding is at risk. “This is in a world where the Paris Agreement and negotiations are robust. In a world where everything is collapsing due to the absence of the US, nothing may come of this,” he cautioned.
Yet, Engelbrecht sees potential for the EU, China, individual American states, and major US corporations to take the lead and fill the void.
A crucial aspect of COP29 is addressing major climate adaptation projects. All countries are required to submit their national adaptation plans (NAPs) by 2025. This year, nations are expected to receive technical assistance to help draft their NAPs.
The Loss and Damage Fund, established at COP28, remains a priority. Designed to compensate countries facing severe climate affects and struggling to transition quickly, the fund still lacks financial contributions. This year, there is hope that concrete funding will be secured to make the fund operational.
• Business Day’s COP29 attendance, including flights and accommodation, has been made possible by the Meliore Foundation, a philanthropic organisation specialising in global communication.
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