The COP29 presidency has announced its presidency initiatives as part of the ‘Action Agenda’ to accelerate progress on climate action and supplement the formal negotiated COP agenda, covering issues such as energy, finance, agriculture, cities, human development and the climate-peace nexus.
In a letter addressed to all parties and non-party stakeholders, the COP29 president-designate, Mukhtar Babayev, set out the details of the package and how global stakeholders can contribute to his vision to enhance ambition and enable action.
Finance is said to be the “centrepiece” of the COP29 presidency’s vision, with the initiatives designed with a special emphasis on delivering the means of implementation. Many of the initiatives – in particular, the Baku Initiative on Climate Finance, Investment and Trade (BICFIT), the Baku Initiative on Human Development for Climate Resilience, and the Multisectoral Actions Pathways (MAP) for Resilient and Healthy Cities – are also designed to integrate and address cross-sectoral synergies.
Also read: COP29 is being dubbed the ‘Finance COP’
Launching the COP29 Action Agenda, Babayev said: “Azerbaijan is honoured by the confidence that the global community has placed in us to host COP29. But we are just one country, and we cannot solve the climate crisis alone. We seek to inspire every actor and demonstrate what is possible with commitment and determination, and we never underestimate the value of an individual contribution. We hope to remind everyone that even in the face of such an enormous challenge, every action matters because every fraction of a degree matters.”
Through the launch of these initiatives, the COP29 presidency is also establishing a range of platforms, partnerships and programmes to enable action before, during and after COP29.
COP29 UN high-level climate champion, Nigar Arpadarai, added: “Now is the time for the whole universe of climate stakeholders to sign up, speak up and step up on climate action. If we are to meet our goals, we need everyone to do their part. This is your chance to play an important role in COP29.”
Loss and Damage fund updates
Elsewhere, the board of the Loss and Damage Fund convened its third meeting in Baku on 18 September, selecting Ibrahima Cheikh Diong as the inaugural executive director of the fund.
Announcing his selection, the United Nations Framework Convention on Climate Change (UNFCCC) said Diong “brings over three decades of global experience in climate change, finance and development” and will “provide strategic leadership and oversight of the fund’s secretariat”, assisting the board in delivering on the Fund’s mandate to provide financial support to vulnerable countries hardest hit by climate impacts.
Commenting on his selection, Diong said: “I am honoured to take on this role at such a pivotal time when the climate crisis is proving to be an existential threat to lives and livelihoods, particularly of the most vulnerable communities in developing countries. The fund for responding to Loss and Damage will make a significant difference to those disproportionately affected, and I take this responsibility with humility and a full commitment to serve. I look forward to working with the board, our partners and stakeholders to provide crucial support to low-income developing countries most affected by climate change.”
Earlier in September, the presidency launched the Baku Global Climate Transparency Platform (BTP) to support developing countries in addressing climate change. Created in collaboration with the UNFCCC, the platform is designed to bring together parties and stakeholders to help prepare and submit the Biennial Transparency Reports (BTRs) of developing countries.
At the Loss and Damage fund meeting, the board also made significant decisions toward the fund’s full operationalisation, laying the groundwork for the Fund to distribute funding for the first time in 2025.
The COP29 presidency is set to work with the countries who have already pledged nearly $800m to the fund to convert those pledges into tangible funding ready for disbursement to the communities who particularly need it. The presidency will also be calling for further contributions.
The board also endorsed the hosting agreement and trustee arrangements with the World Bank.
Babayev continued: “This breakthrough in Baku marks a crucial step in enabling action on climate change. This is a truly historic day, years in the making, that has required determination from so many and an unwavering focus on the needs of those on the frontlines of the climate crisis. The COP29 presidency will continue to seek further pledges to the fund and work across the wider loss and damage landscape to ensure that we build on today’s historic achievements.”
