Earth and Habitat (Commonwealth Union) _Countries most susceptible to climate change, particularly in Africa, Latin America, the Caribbean, and Asia-Pacific, face severe impacts despite contributing minimally to the crisis. As global temperatures rise, marked by 2023 being the hottest year on record, these regions bear the heaviest burdens, from Bangladesh’s cyclones to Libya’s floods and South America’s wildfires. Future climate extremes are expected to exacerbate the devastation.
The 28th UN climate change conference (COP28) in 2023 resulted in notable outcomes, such as the Loss and Damage Fund and the Global Stocktake, emphasizing the urgent need to transition from fossil fuels. However, without substantial support to tackle the identified challenges, these efforts provide limited hope. Estimates indicate that developing nations will require trillions of dollars in public and private finance by 2030 for climate actions. These nations are frustrated with the inadequate response to climate-related disasters and stress the need for progress aligned with the Paris Agreement’s 1.5°C target to avert catastrophic climate impacts.
Looking ahead to COP29, dubbed the “Finance COP,” significant opportunities exist for vulnerable countries to secure essential resources and commitments for transitioning to low-emission economies and building climate resilience. COP29 must focus on setting ambitious climate targets and ensuring these targets translate into actionable, transparent measures driving real change.
Priorities for Climate-vulnerable Countries at COP29
Allied for Climate Transformation by 2025 (ACT2025), a coalition amplifying the voices of climate-vulnerable nations, has issued a Call to Action detailing concrete support measures for these countries. Here are the top priorities:
Set an Ambitious New Climate Finance Goal At COP29, nations will negotiate a new climate finance goal to replace the current $100 billion annual commitment until 2025. Success hinges on establishing a goal based on developing countries’ needs and addressing previous shortcomings. Wealthy nations must fulfill their responsibility to provide necessary financial support for a low-emission, climate-resilient future.
Deliver and Implement More Ambitious Climate Action Plans COP29 is critical for countries to signal their intention to submit new and enhanced Nationally Determined Contributions (NDCs) by 2025. Current NDCs are insufficient to prevent dangerous climate change levels. The G20 countries, responsible for 75% of global emissions, must commit to significant action, including strengthened 2030 NDCs and ambitious 2035 emissions-reduction targets.
Accelerate Adaptation Efforts and Finance At COP28, the UAE Framework for Global Climate Resilience supported the Paris Agreement’s Global Goal on Adaptation (GGA). However, it falls short on financial support. COP29 must accelerate GGA target enactment, aligning adaptation indicators with vulnerable regions and demographics’ specific needs.
Build a Sufficient Response Package for Loss and Damage Following the Loss and Damage Fund’s launch at COP28, the next steps include securing more funds and establishing transparent, inclusive funding structures. Commitments at COP28 totaled $770.6 million, but this is far below the estimated $580 billion needed annually by 2030. Ensuring accessible scalable finance and support through the Loss and Damage Fund is vital for a fair COP29 outcome.
Seizing COP29’s Potential
As climate-vulnerable countries face escalating impacts, the slow pace of international politics is glaringly inadequate. Political decisions must catalyze significant climate action and support at a much greater scale. COP29 is an opportunity for governments and leaders to ensure that the most vulnerable countries can build resilience against the changing climate and thrive. Collaboration, alignment, and trust-building will be essential to deliver a resilient, sustainable future for all at COP29.
