COP29 Concludes: What Are the Outcomes?

On November 23, the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) concluded in Baku. The conference, chaired by Mukhtar Babayev, Minister of Ecology and Natural Resources of the Republic of Azerbaijan, lasted for two weeks.

A historic agreement on the framework for global carbon markets was reached during the session, breaking a decade-long deadlock related to Article 6 of the Paris Agreement. The new provisions establish transparent and reliable mechanisms for international cooperation on emission reductions, leading to an annual savings of $300 billion compared to the previously anticipated $250 billion.

The events of COP29, the issues raised, disputes, and discussions on human rights were analyzed in the program "Complex Questions" by Fuad Hasanov, a member of the Global Council for the Eurasia Region of the international organization Publish What You Pay, chairman of the public association "Monitor of Democracy," and a former senior specialist at the UN Development Program.

According to Hasanov, the key achievement of COP29 was the consensus reached among participant countries.

Another notable aspect was that, aside from 2-3 events, human rights issues were not prominently discussed at the conference. Nevertheless, the dire human rights situation in Azerbaijan was widely covered by major international media during this period.

The expert noted that, from a technical and organizational perspective, COP29 was conducted at a high standard and partially contributed to achieving image-related goals. However, the government expended significant financial and other resources on hosting such a prominent forum, even as reconstruction efforts continue in the territories liberated from Armenian occupation and citizens face difficulties due to rising prices.

Hasanov stated that COP29 participants committed to providing $300 billion annually to help poorer and more vulnerable countries adapt to climate change and transition their economies to green energy by 2035. However, developing countries, from India to Cuba, which had demanded over $1 trillion in assistance, criticized the deal.

In Hasanov's opinion, the most notable innovation of the final agreement is the West’s intent to hold other major players accountable, including those still classified as developing economies, such as China and the Gulf countries.