STATEMENT: Conservation International Chief Strategy Officer on COP29 Climate Finance Deal

BAKU, Azerbaijan (Nov. 23, 2024) – Today, Conservation International's Chief Strategy Officer Patricia Zurita issued the following statement following the conclusion of the 2024 United Nations Climate Change Conference of the Parties to the UN Framework Convention on Climate Change, known as COP29. COP29 culminated in the new Baku Climate Unity Package on Saturday. 

Zurita said: 

"Amid questions about leadership, diplomatic squabbles, and rebukes of the COP system, nearly 200 countries signed on to the Baku Climate Unity Package, which includes a new climate finance goal. While imperfect progress is still progress, we need to see more ambition and speed to keep 1.5C alive.  

“While countries averted outright disaster, COP29 failed in meaningful ways. Most notably, the $1.3 trillion per year goal by 2035 falls short. It is simply not enough in speed or scale. Nor is the $300 billion promised from developed to developing countries.

“In addition, leaders failed to reinforce the importance of phasing out fossil fuels, something every country committed to take steps at COP28 and continued a troubling neglect for nature and its correlation with climate stability. Ignoring nature’s foundational role as a climate solution defies comprehension; even if we miraculously halted all fossil fuels tomorrow, scientists agree that we would fly past our climate goals without also protecting nature. We will continue to shout this message from the rooftops until leaders take seriously the rapid action it demands.

"But there are still reasons to feel optimistic. In the conference’s most encouraging breakthrough, countries cemented much-needed consensus on outstanding elements of Article 6 of the Paris Agreement. After years of red tape, country-to-country emissions trading can now move forward with more clarity on common procedures, reporting requirements and high integrity. UN-centralized trading is closer to full operation, with remaining topics to be tabled for discussions throughout 2025. We are heartened that Article 6 also now recognizes the value of Indigenous knowledge and practices which will further ensure that these funds help conserve our most carbon-rich forests and bring livelihood opportunities to local communities around the world.

“Dissecting the outcome is important, but the words on paper are not our only concern. We also leave Baku troubled by the lack of inclusion and transparency during the COP process, developing countries must not be excluded from key conversations. Too often, the voices of small-island states and other developing countries were sidelined. As a result, countries facing the most extreme consequences of climate change today, those least responsible for its creation, are hearing a dire message: their existence is negotiable. 

“Though nihilism is tempting, countries cannot abandon multilateral climate diplomacy; the stakes are too high. As the world looks to COP30 in Brazil next year, leaders must recommit to the level of compromise and commitment  that led to the Paris Agreement and has enabled progress since then. Humanity’s future hangs in the balance; we have no choice but to figure this out. And we have no choice but to do it together.”

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About Conservation International: Conservation International protects nature for the benefit of humanity. Through science, policy, fieldwork and finance, we spotlight and secure the most important places in nature for the climate, for biodiversity and for people. With offices in 30 countries and projects in more than 100 countries, Conservation International partners with governments, companies, civil society, Indigenous peoples and local communities to help people and nature thrive together. Visit Conservation.org for more, and follow us on Conservation News, Facebook, Twitter, TikTok, Instagram and YouTube.