South Africa optimistic about COP29 outcomes
Cape Town - South Africa has emerged from the 29th United Nations Framework Convention on Climate Change (COP29) with optimism, as key agreements were reached that could significantly impact the country’s climate action and green economy.
The conference, held in Baku, Azerbaijan, concluded in the early hours of Sunday after two weeks of intense negotiations.
The 29th United Nations COP29 is noted as a critical international conference focused on addressing global climate change.
The conference brought together representatives from nearly every country on the globe, that included government officials, environmental experts, scientists, and activists, to negotiate and implement measures aimed at reducing greenhouse gas emissions and limiting global warming
Among the most notable outcomes was the adoption of the Baku Climate Unity Pact, which included the New Collective Quantified Goal (NCQG) on climate finance, the Global Goal on Adaptation, and the Sharm el-Sheikh Mitigation Ambition and Implementation Work Programme.
The adoption of Articles 6.2 and 6.4 of the Paris Agreement will facilitate international carbon markets, allowing South Africa and other developing economies to initiate new carbon market projects.
The Articles allow countries to trade Internationally Transferred Mitigation Outcomes (ITMOs) and establish a carbon market mechanism.
This enables the creation and trading of carbon credits from emission-reduction projects.
For South Africa this is a significant win because it allows the country to tap into new financial resources through international cooperation on carbon markets, benefiting both the environment and the economy.
South Africa’s minister of Forestry, Fisheries and the Environment, Dr. Dion George, who led the country’s delegation, welcomed the agreements, particularly the decision on carbon markets.
“We are pleased with the results of COP29,” said George, reflecting on South Africa's position in the negotiations.
“For South Africa, the agreements reached represent a significant win. We now have the tools to build on, especially with South Africa set to take on the presidency of the G20 next year.”
A key area of focus at COP29 was the mobilization of climate finance.
Developed countries committed to mobilizing at least USD 300 billion per year by 2035 for climate action in developing economies.
The agreement also encourages private sector and multilateral development banks to scale up financing to USD 1.3 trillion annually by 2035.
Maesela Kekana, South Africa’s chief negotiator and deputy director general for Climate Change and Air Quality Management at the Department of Forestry, Fisheries and the Environment (DFFE), emphasized the importance of reforming multilateral financial structures to support climate action.
“The decision underscores the importance of making the financial architecture fit for purpose to address the climate crisis,” Kekana said.
“It also calls for increased support from multilateral financial institutions through grant-based and concessional financing.”
George and his Norwegian counterpart, Tore O. Sandvik, co-chaired the Mitigation Work Programme (MWP) at COP29, which aims to provide further opportunities for countries to share experiences and match investment needs with available resources.
This programme is expected to foster international collaboration and attract investments in green technologies, particularly in renewable energy and sustainable development projects.
Additionally, the conference welcomed the rapid institutionalization of the Loss and Damage Fund, which South Africa and France have led.
This fund is set to begin disbursing resources to vulnerable communities affected by climate change by mid-2025.
Overall, South Africa's delegation believes COP29 was a success, with outcomes that offer hope for further progress.
“COP29 has inspired hope for what lies ahead. The decisions made here are a testament to the power of global collaboration. As we move forward, South Africa is committed to leveraging these agreements to build a sustainable, climate-resilient future for our people,” George said.
The Western Cape Government, led by Anton Bredell, MEC for Local Government, Environmental Affairs and Development Planning, and Ivan Meyer, MEC for Agriculture, Economic Development and Tourism, also joined the global subnational leaders in calling for urgent action on climate threats such as drought, wildfires, and extreme heat.
The province announced its focus on key climate initiatives aimed at building resilience
These include improving water security through infrastructure investment, reducing wildfire and heat risks with firebreaks and public education, and transitioning to renewable energy.
Key programs include the Municipal Energy Resilience Initiative, which helps municipalities adopt renewable energy and improve efficiency, and the SmartAgri Plan, which supports farmers in adapting to climate change and improving water use efficiency.
tracy-lynn.ruiters@inl.co.za
Weekend Argus