'Whether Trump wants to jump on board or not, the climate train is moving'

Cop29 activists look to Britain for summit leadership in Baku as US election outcome casts a long shadow over crucial talks

- STUTI MISHRA

National representatives are gathering in Azerbaijan for the start of crucial UN climate negotiations this week, although the summit has been hit by a number of setbacks before it even starts. As Cop29 opens in Baku today, negotiators will begin the daunting task of securing a global commitment to provide vital funding for climate action.

The stakes were already high for this year’s summit, as finance is one of the most contentious issues in the annual climate negotiations. Rich countries have long been at odds with developing nations over the amount of funding needed, what it should be expected to cover – and who should be paying it.

Adding to the challenges facing this year’s summit are concerns about the host nation, with an undercover report alleging that the official overseeing the talks wanted to use the event to discuss fossil fuel deals. Plus, the re-election of Donald Trump as US president has cast an inevitable doubt over the role America will play in tackling the climate crisis.

Every year the climate summit produces a treaty agreed by all countries, and this year’s will focus on the finance needed to transition to clean energy and prepare citizens for a hotter world.

Other than money, the summit will discuss progress on the world’s transition away from using fossil fuels, something countries agreed to at last year’s summit. Despite a relatively strong deal at Cop28, however, fossil fuel investments and emissions have continued to grow.

The summit will also see the establishment of new frameworks for international carbon markets, which allow countries to offset emissions by investing in green projects around the world. Experts say this year’s summit is crucial because finance will form the basis for all future targets countries will be setting.