On Day 8 of COP29, momentum surged as the G20 reaffirmed its commitment to transitioning away from fossil fuels, despite pushback from key nations, energizing efforts in Baku to secure stronger action on the climate crisis.
Boost to COP as G20 reaffirms move away from fossil fuels
Interestingly, the good news for COP29 progress came not from Baku but from Rio de Janeiro on the eighth day of the talks. The G20 meeting confirmed a global commitment to move away from fossil fuels, despite resistance from nations such as Saudi Arabia, Russia, and India. In Baku, Saudi Arabia had attempted to weaken the transition resolution, but a coalition of countries kept it in play.
However, the absence of a clear call for a fossil fuel phase-out was disappointing, as the consequences of inaction will impact the most vulnerable. Civil society groups, including Greenpeace, welcomed the G20's commitment to a new climate finance goal, stressing the need for action at COP29 to address the climate crisis. The G20's acknowledgment of the need for trillions in climate finance for developing countries and the role of taxation on the ultra-rich was also encouraging.
The G20 said: “We welcome and fully subscribe to the ambitious and balanced outcome of the UN Climate Change Conference in Dubai (COP28), in particular the UAE Consensus and its first Global Stocktake of the Paris Agreement (GST-1).We will respond positively to the GST-1 encouragement for Parties to the Paris Agreement to come forward in their next nationally determined contributions with ambitious, economy-wide emission reduction targets, covering all greenhouse gases, sectors, and categories, and aligned with limiting global warming to 1.5°C, as informed by the latest science, in light of different national circumstances.”
Slashing Methane Emissions: The Climate Crisis 'Emergency Brake’
The UN has emphasized the critical role of slashing methane emissions, calling it “our emergency brake” in tackling the climate crisis. This announcement comes as the COP29 presidency unveiled a new global initiative aimed at reducing methane emissions from organic waste.
Speaking at the launch, COP29 lead negotiator Yalchin Rafiyev introduced the “COP29 Reducing Methane from Organic Waste Declaration,” which binds countries to establish food waste reduction targets in their future national climate pledges.
“As of the morning Tuesday 19th November, more than 30 countries representing almost 50% of the global methane emissions from organic waste have endorsed the declaration,” Rafiyev stated. “This includes eight of the world’s 10 largest emitters of methane from organic waste.”
The signatories include major emitters such as the US, UK, Nigeria, Brazil, Japan, Russia, and Mexico. This declaration builds on the momentum of the Global Methane Pledge, where nearly 160 nations committed to reducing methane emissions by 30% by 2030, marking a significant step forward in the collective effort to address this potent greenhouse gas.
UK, New Zealand, and Colombia Commit to Global Effort to End Fossil Fuel Subsidies
The United Kingdom, New Zealand, and Colombia have formally joined the Coalition on Phasing Out Fossil Fuel Incentives Including Subsidies (COFFIS), a Dutch-led initiative uniting 16 nations in the mission to eliminate barriers and promote transparency in phasing out fossil fuel subsidies. This coalition now includes Austria, Antigua and Barbuda, Belgium, Canada, Colombia, Costa Rica, Denmark, Finland, France, Ireland, Luxembourg, the Netherlands, New Zealand, Spain, Switzerland, and the UK.
COFFIS represents a significant multilateral effort to address one of the most entrenched obstacles to climate progress: fossil fuel subsidies. As part of their commitment, member countries will present national plans, at COP30, to phase out inefficient subsidies.
Rebecca Newsom, Senior Political Advisor at Greenpeace UK, responded to the UK’s announcement, stating:
“The UK’s decision to join this coalition marks a significant step forward for British climate diplomacy after several years of dormancy. Further collaboration around tackling fossil fuel subsidies can only be a good thing. The decision by the UK and other nations to join COFFIS signals a growing international momentum toward dismantling fossil fuel subsidies - a vital step in redirecting resources to address the climate crisis and fostering equitable global climate finance.”
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