Media Statement: ‘Fragile consensus at COP29 raises as many questions as it answers’

As the gavel finally fell on UN Climate Conference UNFCCC-COP29 in the small hours of Sunday morning, Clare Shakya – The Nature Conservancy’s global managing director for climate – characterised the outcome as follows: 

“At the start of this COP, I spoke about the importance of prioritizing the poor communities on the front lines of the climate crisis, as negotiators worked to secure an ambitious outcome on the minimum US$1tn needed to safeguard these vulnerable populations.

“After two gruelling weeks of talks – and a nail-biting final 24 hours that threatened to place Baku’s name alongside 2009’s COP15 collapse in Copenhagen – we have a deal that should at least prime the pump of climate finance, mobilizing US$300bn per year by 2035.

“While snatching this COP back from the flames deserves momentary celebration, getting here also exposed old wounds between wealthier and poorer nations, evoking colonial-era sentiment at a time of growing political headwinds.

“Relief at finally achieving consensus on Article Six – which promises to fully unleash the financial and nature-positive power of well-regulated carbon markets – is offset by weak final text on wider climate finance, and a distinct failure to strengthen the language established in Dubai around fossil fuel phase-out. 

“The Paris Agreement process is still alive, albeit barely. Hopefully the ambition evident in fresh NDCs from Brazil and others, coupled with President Lula’s recent G20 Summit comments, will inject fresh vigour into UN climate talks at COP30 – but the international community would be wise to expect more bumps on the road between Baku and Belém.”