António Guterres, UN Secretary-General, said in his closing remarks at COP29, in Baku, Azerbaijan, 2024 has been a brutal year, seared by record temperatures, and scarred by climate disaster, all as emissions continue to rise.
Finance has been priority number one.
Developing countries swamped by debt, pummelled by disasters and left behind in the renewables revolution, are in desperate need of funds.
He also said an agreement at COP29 was absolutely essential to keep the 1.5 degree limit alive. And countries have delivered.
“I had hoped for a more ambitious outcome, on both finance and mitigation, to meet the great challenge we face. But this agreement provides a base on which to build.
It must be honoured in full and on time.”
All countries are expected to come together to ensure the top-end of this new goal is met.
COP29 also builds on progress made last year on emissions reductions and accelerating the energy transition. And it reaches agreement on carbon markets.
This was a complex negotiation in an uncertain and divided geopolitical landscape.
“I commend everyone who worked hard to build consensus. You have shown that multilateralism, centred on the Paris Agreement, can find a path through the most difficult issues. I appeal to governments to see this agreement as a foundation and build on it.”
The next step, is for countries to deliver new economy-wide national climate action plans or NDCs, aligned with 1.5 degrees, well ahead of COP30, as promised.
The G20 countries, the biggest emitters, are expected to lead this initiative.
Guterres said new plans must cover all emissions and the whole economy, accelerate fossil fuel phase out, and contribute to the energy transition goals agreed at COP28, seizing the benefits of cheap, clean renewables.
“Secondly, we need swift action to deliver on commitments made in the Pact for the Future. Particularly on effective action on debt; increasing concessional finance and improving access; and substantially increasing the lending capacity of the Multilateral Development Banks, with adequate recapitalization” he said.