Opinion
What is the global stocktake and how can it help to save nature?
The global stocktake for the Paris climate agreement includes tangible ways forward and, against the odds, we do have re...
The COP29 climate change negotiations in Baku were extremely challenging and came close to collapse. That a deal was reached is important, but it falls far short of where we need to be. Fauna & Flora Director of Climate & Nature Linkages Zoe Quiroz-Cullen reflects on the outcome of COP29.
A finance gap unfilled, local communities unmentioned
At the heart of this year’s negotiations was deciding the amount of money needed by lower income countries to both reduce emissions and crucially adapt to the new reality of the impact of climate change. The new climate finance commitment (NCQG) of $300bn per year by 2035 is a fraction of the $1.3 trillion needed by developing countries to respond to climate change. It leaves those least responsible for climate change – and most vulnerable – exposed and lacking the resources needed to act with the depth and urgency that is needed.
Communities in these countries are already dealing with heightened droughts, flooding, forest fires, heatwaves and ensuing damage wrought by climate change. All the more galling, therefore, that references to human rights, safeguarding the rights of Indigenous Peoples, and recognising the critical role of local communities and of nature in addressing climate change were removed from the finance goal text.
On Mitigation and Adaptation
The shortfall in global climate finance includes a critical shortfall in financing for nature-based climate actions. In the fight against climate change, nature is humanity’s greatest ally – absorbing and locking in carbon and helping to cool our planet. Rapid scaling of investment and action to protect and restore nature, and to support nature’s stewards, is desperately needed to stabilise our natural ecosystems, and to help us build our resilience and capacity to adapt to its impacts.
Although the figure is far short of where it needs to be, the decision on the new finance goal recognises the need to dramatically scale up adaptation finance to help vulnerable communities change to their new reality – including public and grant-based resources and highly concessional finance. Vulnerable countries – such as the Least Developed Countries and Small Island Developing States – have done little to cause the crisis that they now face and should not be expected to meet its costs without significant help from richer nations. We also welcome the clear steer that developed countries should improve access to finance for vulnerable countries, including increasing support for locally led approaches and institutions.
On mitigation, it was positive to see leadership from countries such as Brazil and the UK, which both released ambitious updated national climate plans (NDCs) during COP29. However, the absence of language in the final finance text reinforcing the COP28 commitment on phasing out fossils, coupled with lack of action to reduce the climate finance gap, are not strong foundations to encourage other countries to increase their NDC ambition, due to be submitted early next year.
COnservation workers responding to forest fires in Belize. © Ya'axché Conservation Trust
The first half of 2024 brought extended dry conditions resulting in major fires across Belize. In the Maya Golden Landscape of southern Belize, Ya’axche Conservation Trust’s Ranger Team proactively responded to uncontrolled forest and agricultural fires in Toledo, particularly in protected areas and communities, under the guidance of trained fire management staff.
Agreement on rules for carbon markets
After nearly a decade of discussions, Article 6 was part of the negotiations that made early progress and concluded with the finalisation of the rules for the operation of international carbon markets. This development was a long-anticipated and landmark moment for how countries and businesses can collaborate to tackle the climate crisis and significantly increase flows of climate finance – including into nature.
We remain concerned that there is a need for stronger environmental and social safeguards to underpin Article 6 implementation, with further work required to ensure international carbon markets under Article 6 support equitable and inclusive climate action, which protects and supports Indigenous Peoples and local communities and biodiversity. What cannot be allowed to happen is that the rights and futures of those living in nature-rich areas are marginalised by trade with wealthy nations and businesses buying up credits to offset carbon use. However, if the proceeds of these transactions reach communities on the frontline, and can be shared equitably and transparently, Article 6 implementation could deliver on its promise of representing a significant opportunity for developing counties, including their efforts to protect and restore carbon-rich ecosystems.
Hopes rest on local action
The Paris Agreement goals remain our global guiding star for limiting global temperature rises to 1.5°C with as limited overshoot as possible, ultimately preventing runaway climate change. However, the COP29 process has fallen far short of illuminating the pathway to meeting these goals.
In the highly complex current geopolitical context, this may not be surprising. But it cannot be a reason to slow down or lower the bar. Indeed, as we witness the increasingly devastating effects of extreme weather events, we must do precisely the opposite. We must move further, faster, and with equity – ensuring no one is left behind.
While multilateralism struggles to keep pace with the urgency we are facing, it is at the national, sub-national and local levels where the gaps must be filled. For all the disappointment of COP process, the energy and commitment to action on the ground continues to intensify rapidly. This was evident in the side events and hallways of Baku and – more importantly – in states, cities and communities the world over. In the unique land and seascapes where Fauna & Flora is working, across 45 countries, we bear witness to the very real impacts of climate change and biodiversity loss, but we are also fortunately able to work with our local partners to play our part in turning the tide.
The road to COP30 in Belem will be a bumpy one. But galvanised with determination, we see the prospect of a ‘Nature COP’, with a strong focus on the economic opportunity of nature-based climate action, and support for nature stewards on the frontline of this work, as fertile ground for a positive shift at the international level. In the meantime, as ever, action speaks louder than words.
Damage on Union Island caused by Hurricane Beryl. © Times Caribbean
Damage on Union Island caused by Hurricane Beryl.
Donate now to prevent wildfires
Every year, wildfires sweep through Belize. Each year they get worse, with rising global temperatures causing hotter, drier summers. In spring, the wildfires will come back.
This will be nothing short of a catastrophe for the countless species living there – jaguars, spider and howler monkeys, ocelots, tapirs, harpy eagles and more.
But you can help us to change that.
Donate nowWildfires blazing in Belize, 2024. © Ya'axché Conservation Trust
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