COP29 and climate change: key takeaways from the 2024 UN summit - by Reema Batra Singh - CollectLo

COP29 and climate change: key takeaways from the 2024 UN summit

Reema Batra Singh - CollectLo

Reema Batra Singh

Content Writer

6 min read . Nov 14 2024

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In 2024, world leaders, environmental activists, scientists, and policymakers gather for COP29, the 29th United Nations Climate Change Conference, to discuss one of humanity’s greatest challenges: climate change. Every year, these conferences bring together voices and perspectives from around the world to strategize, share solutions, and set ambitious goals to mitigate the effects of climate change. But as climate disasters become more frequent and severe, the stakes are higher than ever. COP29 promised bold new steps, innovative collaborations and concrete action. So, what are the key takeaways from this year’s summit, and how will they impact our collective fight against climate change?

Let’s analyse the most important moments from COP29 and find out how they will shape our climate future.

1. Global commitments strengthened: new climate targets for 2024 and beyond

A major focus of COP29 was the need for renewed commitments to achieve the climate goals set under the Paris Agreement. World leaders at the conference committed to more aggressive goals aimed at limiting global warming to 1.5 degrees Celsius above pre-industrial levels. This includes stricter emissions reduction targets, improved green energy transition plans, and more extensive reforestation programs.

For example, the United States and the European Union pledged to cut emissions by an additional 10% by 2030, aiming to lead by example. Many developing nations, particularly vulnerable to the immediate impacts of climate change, received financial and technical support to strengthen their climate resilience programs. Leaders emphasized the importance of accountability, promising annual progress reports to ensure nations stay on track.

The key takeaway: This strong commitment is intended to motivate countries to not only meet their climate goals but also exceed them, aligning policy with the urgency demanded by current climate science.

Focus on climate finance: supporting developing countries Climate change disproportionately affects developing countries, which often lack the resources to adapt and recover from extreme weather events. Recognizing this, COP29 introduced a new climate finance package focused on helping these countries transition to clean energy and increase climate resilience.

This package includes contributions from high-income countries, multilateral development banks, and the private sector, which are projected to invest more than 0 billion annually by 2030. Key initiatives include funding for sustainable agriculture, access to clean water, and infrastructure for renewable energy sources. One of the more innovative financial models discussed included green bonds and carbon credits, which enable corporations and countries to invest in sustainable practices.

Key findings: Climate finance is critical to addressing the equity gap, enabling developing countries to combat climate change with adapted solutions and resources.

Nature-based solutions and biodiversity conservation

COP29 drew renewed attention to the role of nature in climate change mitigation. There was a strong push for nature-based solutions (NbS)—approaches that leverage natural processes to absorb carbon, manage water resources and reduce disaster risks. Forests, wetlands, grasslands and coastal ecosystems act as important carbon sinks, yet they are often degraded by deforestation, pollution and industrial expansion.

To tackle this, COP29 also saw a commitment to halt deforestation by 2035, as well as a billion fund to restore critical ecosystems around the world. Brazil, Indonesia and the Democratic Republic of Congo, home to the world’s largest rainforests, committed to new policies that promote sustainable land management. Additionally, several countries pledged to conserve 30% of their land and marine areas by 2030.

Key findings: Nature-based solutions represent a powerful and sustainable tool for climate mitigation, helping to preserve biodiversity and protect vital ecosystems that absorb greenhouse gases.

The role of technology and innovation in climate solutions

Advances in technology are key to a sustainable future, and COP29 highlighted a number of innovations in the climate sector. Carbon capture and storage (CCS) technology, breakthroughs in renewable energy, and smart city infrastructure were showcased as potential game-changers in the fight against climate change. Leaders also stressed the need for global cooperation in developing and sharing these technologies to make them accessible and affordable around the world.

For example, a new global tech-sharing alliance was proposed, which would give countries access to low-emission technologies. The initiative aims to support a green transformation in industries, particularly in hard-to-mitigate sectors like heavy manufacturing and aviation. Several leading companies announced partnerships to accelerate carbon capture projects and make renewable energy sources like hydrogen more scalable.

Key takeaways: Technology, combined with international collaboration, is critical to advancing innovative climate solutions, from decarbonizing industries to empowering clean energy transitions around the world.

Youth and Indigenous voices are leading the way

One of the most inspiring aspects of COP29 was the strong presence of young activists and Indigenous leaders, who have consistently advocated for urgent climate action. Their perspectives reminded leaders of the human impacts of climate inaction — particularly on communities that have done the least to contribute to climate change but bear the brunt of its impacts.

During COP29, Indigenous communities from the Amazon Basin, the Arctic, and the Pacific Islands shared first-hand accounts of the impacts of climate change on their lands and lifestyles. They called for land rights protections and more inclusion in climate policy discussions. Meanwhile, youth activists put forward ambitious proposals, such as banning single-use plastics worldwide and pressing for a fossil fuel non-proliferation treaty.

Key findings: Empowering youth and Indigenous voices can advance more inclusive and effective climate solutions, as these groups often have unique insights about sustainable practices and the immediate impacts of climate change.

3 Actionable tips to support the fight against climate change

Reduce your carbon footprint: Small actions can make a big difference! Consider using public transportation, conserving energy, and choosing sustainable products whenever possible. Calculating and reducing your carbon footprint is a great way to take direct action against climate change.

Support green initiatives: Many organizations, both global and local, work tirelessly on climate action projects. Consider donating to or volunteering with NGOs focused on reforestation, renewable energy, or climate education.

Advocate for policy changes: Hold your local representatives accountable by voting for candidates who prioritize environmental policies. Attend community meetings, support climate-friendly legislation, and encourage leaders to adopt sustainable practices.

Real-world example: COP’s impact on national policies

After COP26 and COP27, countries like Denmark and Germany implemented strict environmental regulations, reducing emissions by more than 20% in key industrial sectors. Actions like these show how COP conferences can lead to significant real-world change. For example, Denmark became a leader in offshore wind energy, setting an example for countries looking to reduce their dependence on fossil fuels.

As we look to COP29, we can expect similar effects, with more countries committing to concrete climate actions that are in line with their COP commitments.

Conclusion: What will be the legacy of COP29?

COP29 has set ambitious goals and highlighted the importance of cooperation, equity, and innovation in addressing climate change. But, as always, the effectiveness of this conference will be measured by what happens next. Will nations follow through on their promises? Will financial pledges translate into impactful projects for vulnerable countries? The answers to these questions will define the legacy of COP29.

As we move forward, each of us has a role to play, whether it’s adopting green practices, advocating for policy change, or supporting global climate initiatives. Let’s remember that climate change is not just a topic for world leaders; it’s a challenge that requires the commitment of each of us.

How will you contribute to the fight against climate change? Share your thoughts and take action today!