Global climate leaders meet in Denmark to prepare the ground for an ambitious COP29

Published 22-03-2024

This week, climate ministers and decision-makers from more than 30 countries have gathered for the Copenhagen Climate Ministerial to discuss central issues to the COP process. The discussions have laid the groundwork ambitious results at COP29 in Azerbaijan in November where countries are set to agree on a new goal on climate finance.

Two days of climate talks concluded on Friday in Denmark, where key decision-makers gathered for the Copenhagen Climate Ministerial, their first meeting since COP28 concluded in Dubai. The focus of the discussions was to build upon the results of COP28 and begin the work of reaching compromises and shared visions to ensure a successful COP29 outcome. At COP29 countries are scheduled to reach an agreement on how to provide financing for developing countries' green transition and efforts to adapt to the changing climate.

Participants also discussed how to spur on a high level of ambition when countries submit their Nationally Determined Contributions (NDCs) to the UN no later than early 2025. There was consensus among the participants that more ambitious climate plans are needed to achieve the Paris Agreement's temperature target of 1.5 degrees Celsius.

The ministerial also marked the first time that the so-called Troika - comprising the Emirati COP28 presidency, the Azerbaijani COP29 presidency, and the Brazilian COP30 presidency - presented their plan for the road map to 1.5in the coming years.

The current COP28 president from the United Arab Emirates, Dr. Sultan Al-Jaber and incoming COP29 president Mukhtar Babayev from Azerbaijan co-hosted the meeting with Denmark's Minister for Development Cooperation and Global Climate Policy, Dan Jørgensen.

Dr Sultan Al-Jaber, COP28 President, says:
“The historic UAE Consensus, delivered at COP28, laid out a clear roadmap for keeping 1.5°C within reach. We must now turn an unprecedented agreement into unprecedented action. Multilateralism, inclusivity, and the spirit of partnership were key to achieving the UAE Consensus. A just, responsible, and equitable energy transition presents a huge opportunity and makes economic, social, and climate sense.

Now is the time for all parties to step up. The next round of NDCs represent a critical tool for correcting course on climate action. Parties must enhance their Nationally Determined Contributions ahead of the next cycle in 2025. They need to adopt comprehensive, economy-wide emission reduction targets that cover all greenhouse gases, are aligned with the science and keep 1.5°C in reach.

The Troika’s laser focus on the 2025 NDCs will mobilize political momentum and channel resources to ensure ambition by all countries, while supporting developing countries in accelerating a just transition.”

Mukhtar Babayev, COP29 President-Designate, says:
“This year at COP29 in Azerbaijan, finance will lie at the heart of climate diplomacy. Finance is a critical enabler of action and helps us enhance climate ambition. I was greatly encouraged by the level of engagement from parties here in Denmark and their determination to find solutions. We need all actors to send strong signals that they will both raise their ambition and support each other to meet our collective climate goals.”

Dan Jørgensen, Danish Minister for Development Cooperation and Global Climate Policy, says:
Developing countries need far more financing for climate action. This is something we must address with the new target for climate financing that is to be adopted at COP29. Much more money is needed and at the same time, we broaden the sources of financing. Both public and private funds are required, and we also need to consider new and innovative sources. At the ministerial meeting we have just concluded in Denmark, there was consensus among many key actors that we need to mobilize far more financing from a much wider range of actors than today.