Halfway mark toward ‘Finance COP’
Last week, ten days of climate negotiations concluded in Bonn. Providing a runway to what is labeled ‘the Finance COP’, the Bonn Climate Change Conference marked an important halfway point toward COP29 in Baku this November.
In line with the overarching tag, the spotlight in Bonn was on the rapid acceleration of climate finance and the role of international collaboration in securing a just and equitable transition to a green economy. A key element in this regard is the expected outcome of a new climate finance goal, known as ‘the New Collective Quantified Goal’. The new financial goal is expected to come into effect in 2025, replacing the $100 billion per year pledge agreed upon in Copenhagen during COP15.
The second emerging issue is the so-called Nationally Determined Contributions (NDCs), embodying efforts by each country to reduce national emissions and adapt to the impacts of climate change. With new submissions due in 2025, all Parties to the Paris Agreement must pledge updated climate plans covering post-2030 efforts in line with the Paris Agreement goals. Called the “most important climate documents produced in this century” by UN Climate Change Executive Secretary Simon Stiell, the preparation in Bonn and the upcoming bash in Baku underpins the view that the coming COP is always the most important.
This is also the case for Denmark, which will yet again muster a sizeable delegation, underlining the Danish notion of public-private climate action. With a significant presence across COP29’s Blue Zone, the Denmark Pavilion will provide a platform for knowledge sharing and new partnership possibilities between Danish frontrunners and international peers.
As we approach the climate conference in Baku, more information about the Danish delegation and activities to forge collaborative action can be found here.
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