COP29: Key Achievements, Initiatives, and Global Commitments
COP29 marked a pivotal moment in global climate action, bringing together world leaders, organizations, and stakeholders to drive ambitious goals for a sustainable future. This resource page highlights the conference's major milestones, from groundbreaking initiatives in climate finance and energy transitions to collaborative efforts in health, water management, and methane reduction.
Explore how these achievements and commitments are shaping the path forward for international climate solutions.
Major Milestones
The Baku Finance Goal
Set an ambitious target to channel $1.3 trillion of climate finance to developing countries by 2035, with a $300 billion core goal for grants and low-interest loans. This triples the previous $100 billion target.
In Action: Funds will support efforts such as constructing climate-resilient infrastructure in flood-prone areas like Bangladesh or developing renewable energy projects across sub-Saharan Africa, ensuring these regions are better equipped for climate challenges.
UN Carbon Markets Operationalized
Breakthroughs in carbon market frameworks (Article 6) will facilitate more transparent and effective financial flows, with potential to unlock $1 trillion annually by 2050.
In Action: A German company might offset its emissions by purchasing carbon credits from a reforestation initiative in the Amazon. These credits represent verified carbon removal through tree planting and conservation. The revenue directly benefits local communities and ecosystems, enabling developed nations to meet climate goals while financing impactful projects in developing regions.
Fund for Loss and Damage Ready for 2025
Established mechanisms to support vulnerable countries facing severe climate impacts, with over $730 million already pledged.
In Action: Communities in island nations such as Tuvalu will gain access to funding to adapt to rising sea levels, which could include constructing protective infrastructure or facilitating migration to safer regions.
Action Agenda Initiatives
Baku Initiative for Climate Finance, Investment and Trade (BICFIT) Dialogue
Brought together a diverse range of stakeholders, including UN agencies, international organizations, development banks, and the private sector, to prioritize finance, investment, and trade in the climate agenda.
In Action: The launch of the Baku Climate Coalition for SMEs Green Transition aims to support small and medium enterprises in adopting low-carbon technologies and practices.
Energy Pledges and Declarations
Introduced ambitious initiatives on energy storage, grids, zones, corridors, and hydrogen development, endorsed by 150 Parties.
In Action: These initiatives pave the way for accelerating global green hydrogen production, essential for decarbonizing industries like steel and shipping.
COP29 Declaration on Green Digital Action
Secured endorsement from over 75 governments and 1,100 digital tech leaders to leverage digital tools for reducing emissions and building climate resilience.
In Action: Governments are deploying advanced climate-monitoring systems and AI-driven emission reduction strategies, improving efficiency and accountability.
Baku Initiative on Human Development for Climate Resilience
Adopted the Baku Guiding Principles and launched the Baku COP Presidencies Continuity Coalition for Climate and Health, with commitments from 8 UN agencies, 3 development banks, and 3 climate funds.
In Action: These efforts are helping integrate health considerations into climate resilience plans, such as ensuring access to healthcare during extreme weather events.
Climate and Health Continuity Coalition
Built a partnership across five COP Presidencies and WHO to embed health into the climate agenda and future COP conferences.
In Action: Advocating for health-focused climate policies, such as creating heatwave early warning systems to reduce heat-related illnesses.
Reducing Methane from Organic Waste Declaration
Gained commitment from over 50 countries to reduce methane emissions from organic waste, representing 51% of global methane emissions in this category.
In Action: Countries are adopting sectoral methane reduction targets, like capturing landfill methane for energy production, contributing to the Global Methane Pledge.
Baku Harmoniya Climate Initiative for Farmers
Launched a platform to streamline support and finance for farmers facing climate challenges in the agriculture sector.
In Action: Farmers gain access to tools for sustainable practices, such as water-efficient irrigation systems and crop diversification techniques.
COP29 MAP Declaration for Resilient and Healthy Cities
Collaborated with 160 endorsers to foster urban climate action, emphasizing multisectoral approaches for cities.
In Action: Cities are integrating climate resilience into urban planning, such as developing green corridors to mitigate heat and improve air quality.
COP29 Declaration on Enhanced Action in Tourism
More than 60 governments committed to advancing sustainable tourism by reducing emissions and improving sector resilience.
In Action: Tourist destinations are transitioning to renewable energy sources and promoting eco-friendly travel options to reduce their carbon footprint.
COP29 Declaration on Water for Climate Action
Endorsed by 50+ countries, this initiative integrates water-related climate measures into national climate policies.
In Action: Projects focus on restoring degraded wetlands and implementing adaptive water management systems to address climate-induced droughts.
Global Commitments
Baku Transparency Platform
The COP29 Presidency launched the platform to enhance transparency and called for early submissions of Biennial Transparency Reports (BTRs). Eleven Parties and the EU submitted their BTRs before the deadline, with the Presidency leading by example by submitting its own.
In Action: This transparency initiative is helping countries align on standardized reporting for progress under the Paris Agreement.
Progress on Article 6
COP29 achieved consensus on Article 6.4 standards to operationalize transparent carbon markets and concluded negotiations on Article 6.8 to facilitate non-market approaches.
In Action: Article 6 agreements allow nations to trade carbon credits more reliably and cooperate on broader sustainable development goals.
World Leaders Climate Action Summit
Eighty Heads of State and Government delivered statements during the summit, reaffirming their commitments to raising ambition for climate mitigation and adaptation under the Paris Agreement.
In Action: Nations showcased policies for renewable energy scale-up, financing climate resilience, and cutting emissions.
Multilateral Development Banks (MDBs)
MDBs pledged $170 billion annually for climate action by 2030, with $120 billion allocated to low- and middle-income countries.
In Action: Funds are prioritized for clean energy projects, infrastructure adaptation, and resilience in vulnerable regions.
Fund for Loss and Damage
The Fund secured $730 million in pledges during COP29, including major contributions from Australia and Sweden. Agreements with the Philippines and the World Bank set the stage for fund operations starting in 2025.
In Action: Island nations and climate-vulnerable communities will benefit from projects funded by these contributions, including relocation and disaster response measures.
Private and Philanthropic Leadership
The Business Investment and Philanthropy Climate Platform (BIPCP) brought together over 1,000 leaders from 70+ countries, uniting investor groups with over $10 trillion in assets to mobilize private capital for climate solutions.
In Action: Climate-friendly investments include renewable energy projects and sustainable agriculture initiatives.
10GW Lighthouse Initiative
Development finance institutions pledged support for renewable hydrogen projects in developing and emerging markets.
In Action: These projects aim to expand green hydrogen production, advancing global energy transitions in underserved regions.
Climate Investment Funds
Additional contributions were secured from the US ($325 million), Germany ($220 million), and the UK ($211 million).
In Action: These funds will finance clean energy transitions, including wind, solar, and green hydrogen projects.
Clean Cooking Initiative
The UK committed $193 million to support clean cooking solutions for 10 million people across Sub-Saharan Africa, South Asia, and the Indo-Pacific.
In Action: Communities are transitioning from coal and wood to cleaner, safer cooking fuels and technologies.
COP Truce Appeal
With support from 132 countries and 1,200+ organizations, COP29 launched the Baku Climate and Peace Action Hub, addressing the nexus of climate, conflict, and humanitarian needs.
In Action: The initiative prioritizes climate solutions in conflict-affected regions through global cooperation and peacebuilding efforts.
Deforestation Pledge
The UK pledged $299 million to tackle deforestation through sustainable forestry, forest carbon markets, and protection programs.
In Action: High-integrity forest carbon markets are being developed to incentivize conservation and reforestation.
No New Unabated Coal
Twenty-five countries and the EU committed to phasing out unabated coal in their future energy systems.
In Action: These commitments signal a shift toward renewable energy and decarbonized power grids.
Net-Zero Commitment
Mexico’s announcement to achieve net-zero emissions by 2050 marked the final G20 member committing to a net-zero target.
In Action: National policies are being aligned with long-term sustainability goals, including emissions reductions and renewable energy targets.
Local and Indigenous Communities
The Baku Workplan of the Local Communities and Indigenous Peoples Platform was established to strengthen their role in climate solutions.
In Action: The plan facilitates community-driven approaches to adaptation and climate resilience.