Baku: With the United Nations Framework Convention on Climate Change (COP29) taking place this week, South Africa expects the COP29 Presidency to enhance efforts to finalize the New Collective Quantified Goal on Finance (NCQG), which is a matter of great importance for developing economies. “As I have said before, the current financing mechanisms have proven insufficient in scale and effectiveness, highlighting the urgency for a new financing model,” Minister of Forestry, Fisheries and the Environment Dr. Dion George emphasized.
According to South African Government News Agency, the Minister expressed confidence in the South African delegation participating in COP29 as they departed to attend the conference. COP29, scheduled from 11 to 22 November in Baku, Azerbaijan, will see George joining the South African team as the head of the delegation. This year’s conference is set to focus on intensifying efforts to quantify resources for developing countries to meet ambitious climate targets under the theme ‘In So
lidarity for a Green World.’
The climate change conference occurs amid intensifying geopolitical tensions and heightened trade protectionist measures. COP29 aims to build on the leadership and outcomes from Dubai COP28. The incoming COP29 Presidency has set ambitious priorities, with a two-day summit at the start of the conference bringing together global leaders to accelerate climate action.
Another key issue for South Africa and other developing economies is the adoption of Article 6.4 rules, allowing the implementation of carbon market measures and unlocking new projects contributing to economic growth and decarbonization. “By establishing transparent and robust mechanisms under Article 6, we can enable countries to work together more effectively,” George stated.
George will co-chair discussions on mitigation with his Norwegian counterpart and engage with parties and negotiating groups to address barriers in implementing Nationally Determined Contributions (NDC). These contributions cover adaptation, mi
tigation, and finance requirements based on equity. The Ministerial Pair was appointed by COP29 President-designate Mukhtar Babayev to steer informal consultations on mitigation.
George expressed full confidence in the negotiating team and encouraged South Africans to follow the proceedings online. South Africa will host an exhibition pavilion at COP29 in partnership with the National Business Initiative, showcasing efforts by South African organizations to raise awareness, adapt to, and mitigate climate change.