COP29 in Baku

Once again, an active delegation from the dairy sector travelled to Baku to engage in a number of engagements including bilaterals with governments and project delivery partners, and in particular the agriculture negotiations, sharing the efforts of Dairy in tackling the climate challenge and ensuring that agriculture was well represented across a number of activities during the two weeks. The DSF Director was able to present two statements on behalf of the Business and Industry Group at the agriculture negotiations in support of the progress the parties are making. Some key outcomes from the conference of particular interest to our dairy colleagues are summarised in these two articles:

• Baku Conference Sets New Collective Climate Finance Goal from IISD (this went down to the wire!). The Baku Climate Change Conference (UNFCCC COP 29) delivered what the Earth Negotiations Bulletin (ENB) describes as “a milestone agreement that will inform climate action for years to come.” Countries set a new collective quantified goal (NCQG) on climate finance. Read the article.
• COP29: UN Approves Article 6.4, Launches Global Carbon Market from Carbon Herald. (The agreement of articles 6.2 and 6.4 are a real and new opportunity for agriculture to demonstrate its value in being part of the climate solution). COP29 started at a blistering pace with the approval of the Article 6.4 mechanism, laying the foundation for countries to trade carbon emission reductions. Through these trades higher emitting economies will ideally be able to achieve their climate goals (called Nationally Determined Contributions, or NDCs) under the Paris Agreement. This will also allow for much needed funds to flow towards developing countries that have the potential to develop carbon projects or protect existing carbon sinks. Read the article.