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Pre-COP29: In conversation with Jacob Werksman
September 19 @ 16:00 - 17:30
This is an in person event. “Important! Online participation is only allowed for attendees located outside Belgium”.
If you need any other information, please contact fprovenzano@ercst.org
This is an opportunity to get informed, raise questions and discuss EU positions at the upcoming COP 29. As a reminder, in many cases EU legislation is based on commitments that the EU delegation makes at COP meetings.
COP29 in Baku is expected to be a decisive conference for comprehensive climate action, with topics like climate finance – including the New Collective Quantified Goals (NCQGs), and the upcoming Nationally Determined Contributions (NDCs) due by February 2025 – as well as the alignment of biodiversity and climate.
The Presidency’s vision for COP29 is to “enhance ambition, enable action” and adopting the NCQG is listed at the top of the list under enabling action. The COP29 Presidency launched the “Climate Finance Action Fund” (CFAF), to receive annual contributions from fossil fuel-producing countries and companies. Initial fundraising aims for $1 billion, with members committing to annual contributions as fixed sums or based on production volume.
It has become clear that private players need to enter the scene to mobilise more and more climate finance. Carbon market is one way to do that. Article 6 of the Paris Agreement sets out the rules for global trade in greenhouse gas emissions reductions. While COP28 brought no significant progress on the matter, expectations are that some development will be achieved on this front.
J. Werksman, Chief Paris Agreement Negotiator and head of the UNFCCC Task Force & Principal Adviser for International Aspects of EU Climate Policy, and A. Marcu, ERCST Executive Director, will reflect on the strategic policy priorities in the run-up to COP29 and on the potential outcomes.
