Yangyel Lhaden

Baku, Azerbaijan—The 29th Conference of Parties (COP29) to the United Nations Framework Convention on Climate Change (UNFCCC) began on Monday in Baku, the capital of Azerbaijan, gathering leaders and delegates from nearly 200 countries for two weeks.

This year’s COP, is dubbed the “Finance COP”. One of the most anticipated outcomes of COP29 is the establishment of a new climate finance target. This includes the New Collective Quantified Goal (NCQG) to replace the USD 100 billion annual climate finance pledge that expired this year, a target which was never fully met.

The NCQG aims to surpass this previous goal to ensure that developing nations receive the necessary funds to tackle climate change. This issue is particularly urgent as countries around the world continue to face mounting climate disasters, exacerbated by a global temperature rise that shows no sign of slowing.

Meanwhile, back in the country, Lunana, located at an altitude of 4,800 metres, shows both opportunity and risk in climate crisis. Without the use of greenhouses, farmers are successfully cultivating vegetables, with cabbages growing to the size of soccer balls. However, this success story is tempered by the imminent threat posed by the Thorthomi glacial lake, which is expanding with accelerated glacial melt with increase warming and poses a catastrophic flood risk for the village.

Greenhouse gas today is 40 percent higher than 20 years ago and is still rising. Although the first COP meeting was held in 1995 to reduce the emissions, these annual gatherings have become critical platforms for driving international climate action, establishing ambitious goals, and holding countries accountable for their commitments under the Paris Agreement.

Today, the year 2024 is on track to be the warmest year on record after an extended streak of exceptionally high monthly global mean temperatures, according to the World Meteorological Organisation.

At the opening session, Simon Stiell, the executive secretary of the UNFCCC, expressed frustration that a single COP meeting could not immediately solve the global climate crisis. “This UNFCCC process is the only place we have to address the rampant climate crisis and to credibly hold each other to account to act on it. And we know our process is working. Without it, humanity would be headed toward five degrees of global warming.”

“That is why we are here in Baku, we must agree a new global climate finance goal,” Simon Stiell said. “If at least two thirds of the world’s nations cannot afford to cut emissions quickly, then every nation pays a brutal price.”

A primary focus at COP29 is the finalisation of Article six to establish international carbon markets, which have been described as vital for accelerating global emissions reductions.

Host Azerbaijan is tasked with keeping countries focused on agreeing to a new global finance target deal to replace the current USD 100 billion pledge expiring this year. Key points of contention include the amount available, who will finance it, and who will be eligible to access the funds.

Azerbaijan’s Minister for Ecology and Natural Resources Mukhtar Babayev, COP29 President, delivered a rallying call at COP29, urging delegates to counter skepticism and take bold, collective action on climate change. “People have doubted us. Let us prove them wrong,” he said, emphasising that no single nation could tackle the crisis alone

He said that every action mattered because every fraction of a degree mattered and reminded delegates that the world was watching. “They are waiting for us to show leadership,” he said, urging for increased ambition and global solidarity to create a sustainable, green world.

This year, Bhutan brings its voice as one of the few carbon-negative countries, advocating for strengthened global cooperation to protect fragile mountain ecosystems and support sustainable development in climate-vulnerable areas.

The Bhutanese technical team delegation is led by Secretary Karma Tshering from the Ministry of Energy and Natural Resources, with Prime Minister, Dasho Tshering Tobgay taking an active role in promoting Bhutan’s climate commitments on the global stage.

Lyonchhen participated in a World Bank-hosted panel discussion, and spoke at the opening of Singapore Pavilion . Lyonchhen also spearheaded the launch of the G-Zero Forum, a new initiative for carbon-negative and carbon-neutral countries.

This story was produced as part of the COP29 Climate Change Media Partnership, a journalism fellowship organised by Internews’ Earth Journalism Network and the Stanley Center for Peace and Security.