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BRIGITTE BURNETT: COP still a valuable catalyst of climate and nature action

#COP29 is shaping up as the ‘Climate Finance COP’, advancing critical funding mechanisms for developing nations

Picture: 123RF/nirut
Picture: 123RF/nirut

The Conference of the Parties (COP), under the UN Framework Convention on Climate Change, has long been recognised as the cornerstone of global climate action. Since its inception in 1995, COP has provided a critical space for nearly 200 countries to negotiate strategies to combat climate change. 

While the focus of the Climate COPs have historically been on climate mitigation, Nature COPs, such as COP15 under the UN Convention on Biological Diversity, play an equally crucial role by focusing on biodiversity goals. Today we are witnessing a much-needed integration of climate and biodiversity efforts across these platforms, recognising that one cannot be achieved without the other.

For example, COP29 — currently on in Baku, Azerbaijan until November 22 — has been dubbed the “Climate Finance COP” thanks to its focus on advancing climate finance mechanisms. This event is expected to build on the 30 by 30 goal introduced at Nature COP15, which aims to conserve at least 30% of the planet’s land and oceans by 2030. The growing synergy between Climate and Nature COPs mark a pivotal step in creating a more holistic approach to global environmental governance. 

While COPs are sometimes criticised for their apparent lack of definitive outcomes, they remain essential in coordinating international responses to climate change and biodiversity loss. Rather than dwelling on concerns about attendance numbers or the scale of participation, it’s important to recognise the achievements of COPs over the years, many of which demonstrate their value.

Examples of these achievements include: 

  • The Paris Agreement: COP21 in Paris marked a monumental step with the adoption of the Paris Agreement, which established the goal of limiting global warming to below 2°C, ideally 1.5°C. This historic accord brought countries together with shared but differentiated responsibilities to curb emissions.
  • Global Stocktake (GST) for Climate Accountability: Introduced at COP28, the GST provides a framework for countries to evaluate and strengthen their climate commitments. While it fell short of setting a definitive timeline for phasing out fossil fuels, the GST emphasises transparency and accountability, creating a roadmap for measurable future actions.
  • Peace with Nature Framework: COP16 catalysed discussions on achieving “peace with nature” and reinforced the interconnectedness of climate stability and biodiversity conservation. 

COP29 appears set to continue these important trends. The “Climate Finance COP” label highlights the push for the New Collective Quantified Goal, which aims to establish clear financial support mechanisms for developing nations. This is critical to address funding gaps and empower those nations most vulnerable to climate impacts to adapt and mitigate effectively. 

These achievements show that while progress may seem incremental, COPs undoubtedly foster essential frameworks and agreements that have the potential to reshape global environmental policies. 

Challenges and the role of large emitters 

Unfortunately, political dynamics have affected COPs’ potential and progress in recent years. This has been most notable in the influence of large emitters on outcomes as they have retracted or delayed their prior commitments.

With elections taking place in several major economies in 2024 and 2025, the potential exists for further shifts in climate policy, which may be negative depending on electoral outcomes. These political fluctuations highlight the importance of robust international agreements and the role that COPs can, and often do, play as a stabilising force, encouraging continuity despite changes in international leadership. 

The presence of large emitters at COPs, and their influence in negotiations, remains both an opportunity and a challenge. Their participation is crucial, yet their actions — at times motivated by political or economic pressures — can stall momentum, emphasising the need for a balanced representation that can ensure accountability while also facilitating inclusive dialogue. 

The role of the private sector, cities and civil society 

While COPs establish essential frameworks, climate action must extend beyond these conferences. Today, the private sector, cities and civil society have a responsibility to actively implement tangible solutions aligned with COP goals.

For individuals and groups unable to attend COPs, there are numerous ways to contribute to the global climate movement. Supporting local and corporate sustainability initiatives is an accessible and direct avenue for participation.

Many businesses and municipalities now incorporate COP-aligned strategies into their practices, empowering individuals to back projects that resonate with their values.

Additionally, civil society plays a critical role by advocating for stronger climate policies and holding leaders accountable for sticking to and delivering on their commitments. 

The path ahead 

The path forward requires collective will, political courage and innovative partnerships, all of which COPs can help to facilitate.

However, COPs’ future effectiveness will depend on several key factors. First, countries must go beyond pledges to enact concrete timelines and measurable actions, aligning with the GST and Paris Agreement goals. 

Second, innovative financing mechanisms will be essential to address funding gaps and foster sustainable development, especially for vulnerable nations needing resources to tackle climate impacts. 

Lastly, COPs need to proactively encourage more inclusive participation. Engagement from the private sector, cities and civil society, along with government stakeholders, is the best way to ensure that climate and biodiversity goals are actionable and comprehensive. 

While COPs face criticism, they stand as a unifying force for climate and nature and remain an indispensable forum for driving the ambitious and coordinated action needed to tackle the climate crisis and biodiversity loss. The stakes are simply too high to question the necessity of COPs.

As climate urgency intensifies, so does the need for a platform where nations, businesses and communities can collaborate. COPs offer this essential space, and the focus should be on strengthening this platform to ensure it drives not just debate but decisive, transformative action.

• About the author: Brigitte Burnett is executive head: Sustainability at Nedbank.

This article was sponsored by Nedbank.

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