COP29: Progress or Another Fumble?
By Angeline Ondeng'e - Posted on 30 January 2025PhD researcher Angeline Ondeng'e went to COP29 as Strathclyde's representative and has now reflected on what she learned from the experience, discussing climate, finance - and networking.
In 2024 I embarked on a PhD within the Stephen Young Institute for International Business at Strathclyde Business School, following an MBA at SBS, and having worked for more than eight years in finance roles within the non-profit sector in Kenya. My work supported projects on poverty alleviation, food security, and health in the Horn of Africa. My experience inspired my doctoral research, which aims to explore how to leverage impact investing to strengthen the financial independence of non-profit organizations and enhance their capacity to address critical challenges in Africa. Attendance at COP29 on behalf of the University of Strathclyde further developed my interest in climate finance, which is critically needed by developing countries to adapt to and mitigate the impacts of climate change.
Each year, as the climate crisis edges the world closer to critical tipping points, the international community gathers at the Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC), striving to tip the scales in favour of our planet and humanity. I had the incredible opportunity to attend COP29 in Baku, Azerbaijan, as an Observer representing the University of Strathclyde in the Blue Zone, where international negotiations take place. I arrived filled with hope that this meeting could make real progress in advancing climate action. But after two weeks of intense negotiations, did the international community finally get it right?
COP29 was dubbed the ‘Climate Finance COP’ because of its focus on negotiating a new climate finance framework known as the New Collective Quantified Goal on Climate Finance (NCQG). The negotiations began with developing countries requesting at least $1.3 trillion per year in climate financing. However, by the end of the COP29 meeting the final agreement settled at only $300 billion. While this represents a threefold increase over the previous $100 billion goal, it still falls significantly short of the $1.3 trillion estimated to be needed to adequately support climate-vulnerable communities in developing countries. This was a disappointing outcome for developing nations, as developed countries once again failed to fulfil their obligation to support cash-strapped developing economies in addressing climate change.
Despite this setback, the urgency for action has never been greater. Innovative approaches to mobilizing more financing must be pursued. It is my view that developing countries must explore their domestic contributions, and greater efforts are needed to leverage funding from the private sector, where most of the funding resides. Importantly, any contributions from developing countries or the private sector must be considered additional financing and not used to cover the shortfall of developed countries. Even as advocacy for increased climate finance intensifies, countries must also be prepared to effectively absorb these funds and ensure they reach the communities most in need. While many countries marred by corruption have the capacity for accountability and transparency, what is often missing is the will to act in the best interests of vulnerable communities. If leaders can muster the will to genuinely represent those in need, if governments and institutions can be held accountable, and if capacity can be strengthened where necessary, significant progress can be made in advancing climate action.
Article 4 of the Paris Agreement, an international treaty on climate change signed in 2016, mandates countries to prepare, communicate, and maintain successive Nationally Determined Contributions (NDCs), which are plans outlining each nation's efforts to reduce emissions and adapt to the impacts of climate change. The first round of NDCs was submitted in 2020, and the first Global Stocktake at COP28 in 2023, which assessed global progress on climate action, highlighted the urgent need for stronger commitments. Updated NDCs are due by 2025. As engaged citizens and climate advocates, we have a critical role in holding governments accountable for these submissions. This involves evaluating their level of ambition, ensuring alignment with national development goals (as NDCs cannot operate in isolation), ensuring they are backed by clear financing plans, and identifying alternative funding solutions where shortfalls exist to ensure effective implementation. A key outcome of COP29 was the full operationalisation of Article 6 of the Paris Agreement, which permits countries to trade carbon credits. While carbon trading is often criticised as a mechanism that enables polluters to continue emitting by purchasing credits from low emitters, it also allows countries to collaborate to achieve their climate goals and reduce the costs of implementing their NDCs. However, the ability of countries to set their own carbon prices poses a significant risk of exploitation, particularly for developing nations that may be compelled to sell their carbon credits cheaply out of desperation to fund their national plans. Hence, robust regulations and grievance redress mechanisms are essential to ensure the fairness and effectiveness of carbon trading.
Despite the disappointing outcome of COP29, I was thrilled to attend my first COP. It was enlightening to be in rooms filled with a genuine sense of purpose. I learned that effective networking often happens in the most unexpected ways. Some of the most meaningful connections I made started with casual conversations—whether on the COP29 buses, in long queues waiting to enter meeting rooms, or over lunch agonising over the tragic impact of the Amazon drought on dolphins. Additionally, I gained invaluable insights for my PhD research. I connected with individuals who shared my viewpoints, as well as those with divergent opinions, which helped me see the potential impact of my research and also view it from entirely new angles.
I also had my first experience participating in a panel discussion, where I shared my perspectives on bridging gaps in science from the development sector's standpoint. To effectively address climate change, community involvement in climate projects is crucial as well as the integration of local knowledge with scientific research. As global attention on climate change intensifies, it is important that we do not lose sight of broader sustainability issues. Partnerships between organisations addressing climate change and nonprofits already tackling other pressing challenges in developing economies can amplify impact by enabling resource sharing and aligning climate action with broader priorities, such as poverty alleviation and food security.
Azerbaijan is a beautiful country with genuinely warm and welcoming people who proved that true hospitality transcends language barriers. It felt as though I had never left Glasgow. This was truly an opportunity of a lifetime, and I am grateful to the University of Strathclyde and the Stephen Young Institute for International Business for making this experience possible!