A big issue at the COP29 conference is the demand for hundreds of billions of dollars for developing countries to pay for damages caused by climate change.
Developing countries need this money for reconstruction and adaptation efforts, and rich country governments, multilateral banks and the private sector are being urged to provide it. Against this backdrop, discussions during the high-level event are focusing on important issues such as urbanisation, transport and tourism.
Over the next 20 years, the population of urban areas is expected to increase significantly and more than two billion people may live there. Due to growing population, cities are increasing their contribution to greenhouse gas emissions and they are also grappling with the effects of climate change.
The United Nations Habitat Agency (UN-Habitat), which strives for sustainable urban development, says in its new report that billions of people living in cities could face an additional 0.5 increase in temperature by 2040.
Urban areas face enormous challenges, but the scale of action needed to address them is not currently available.
Speaking at an event on Wednesday, the UN agency’s executive director, Anna Claudia Rossbach, said rapid, unplanned urban development threatens biodiversity, the environment and food security.
As a result, there is a disaster in the society and there is also a financial crisis. The construction sector is responsible for nearly 40 percent of greenhouse gas emissions, but 96 homes need to be built every day to meet the Sustainable Development Goals by 2030.
To meet these dual challenges, it is important that cooperation at all levels as well as adequate financial resources should be made available.
Increase in greenhouse emissions
In another session, speakers discussed an issue that could hamper efforts to address climate impacts in cities and elsewhere.
According to a new report by the UN Environment Program, greenhouse gas emissions will increase by 1.3 percent in 2023, even though they should have decreased.
UN agency executive director Inger Andersson said that to limit global temperature rise to 1.5 degrees Celsius, each country would need to reduce its emissions to 42 percent by 2030 and 57 percent by 2035. Commit to reducing greenhouse gas emissions.
He said only 25 big cities including Shanghai, Beijing, Moscow, New York City are responsible for 52 percent of the total greenhouse gas emissions.
Therefore, major changes can be made by setting energy efficiency standards, changing energy sources, better management of waste and methane, and improving public transportation, among other measures.
For the first time during the COP29 conference, the impact of the tourism industry on climate change was discussed on Wednesday and a plea was made to reduce its carbon footprint.
Climate finance is being discussed in depth at the final session of the COP29 conference.
COP29, progress possible?
A key challenge for climate talks in Baku is reaching agreement on new financing targets. At stake are billions of dollars in funding that is critical to supporting climate action in vulnerable developing countries.
Cedric Schuster, head of the Alliance of Small Island Nations, said his top priority was to provide $39 billion per year to them, $220 billion to LDCs, and that amount in grants.
“Any draft that does not include these aspects will not be acceptable to these groups.”
Sierra Leone’s Environment and Climate Change Minister, Geoh Abdulai, said the use of the word ‘donor’ for climate finance should be avoided.
“It means like begging. There is a climate debt that must be repaid. We are talking about life and livelihood. Our people are paying the price with their lives.