The stage is set for COP29, the annual United Nations climate summit kicking off this week in Baku, Azerbaijan, amid heated debates over finance, climate action, and human rights issues. This two-week-long gathering of nearly 200 nations aims to tackle the climate crisis, which has grown ever more urgent following recent extreme weather events worldwide. But the environment isn’t the only topic on the agenda—concerns about the legitimacy of hosting the conference in Azerbaijan, labeled by many as an authoritarian petro-state, have already overshadowed proceedings.
Backed by the scars of recent climate disasters, developing nations are rallying for more substantial financial support to address the consequences they face. They've experienced unprecedented climatic changes this year, with floods, droughts, and fires wreaking havoc across continents. “Developing countries are demanding financial assistance to mitigate the impact of climate change,” said Niklas Höhne, senior climate policy researcher at New Climate Institute. This meeting is less about discussing climate policy and more about negotiating funding—who pays and how much.
For the second consecutive year, the UN climate summit finds itself positioned heavily under the shadow of fossil fuel production. Azerbaijan, known for its rich oil fields, is hosting COP29 just after the UAE’s conference last year, which also proudly boasted its oil production credentials. Critics, including Swedish environmental activist Greta Thunberg, have labeled it “absurd” for this conference to be taking place in such countries as Azerbaijan, where the state’s economic backbone rests on fossil fuels. “That the UN Climate Change Conference is hosting yet another climate meeting in an authoritarian petro-state is beyond absurd,” she asserted. Such sentiments echo throughout the summit as attendees are forced to reconcile their reliance on fossil fuels with the urgent need for climate action.
This year’s COP29 president, Mukhtar Babayev, adds another twist to the plot. Not only is he Azerbaijan’s Ecology and Natural Resources minister, but he also boasts past ties to the State Oil Company of Azerbaijan (SOCAR). Critics raise eyebrows, questioning how the country, whose economic interests lean heavily on fossil fuel extraction, can authentically champion the climate agenda. Babayev, during his opening address, emphasized Azerbaijan’s commitment to exploring green energy options, though skepticism remains rife among international observers.
Adding fuel to the fire, various reports surfaced even before COP29 began, highlighting potential under-the-table deals being discussed by Azerbaijani officials to negotiate fossil fuel expansions. Notably, activists and watchdog organizations are closely monitoring these discussions, worried about the principles of climate negotiations being compromised. Former UN climate executive Christiana Figueres articulated her concern, denouncing Azerbaijan’s approach as “contrary and egregious” to the goals the climate summits aim to achieve.
While countries scramble to create effective climate policies, pressing financial commitments serve as the cornerstone of discussions this year. Previous promises by wealthier nations included mobilizing $100 billion annually to support developing countries tackle climate impacts, but much of this funding has been criticized as insufficient and rich with high-interest loans. Höhne predicts negotiating parties might settle for funding figures between $200 billion and $700 billion, which many still see as inadequate.
Countries like India, alongside several African nations, are pushing for climate financing to skyrocket to $1 trillion per year—much more than the currently promised amount. Such calls for enhanced economic support come as developed nations like the U.S. and EU look to involve oil-rich states such as China and those from the Gulf region to share responsibility for climate finance, making future negotiations increasingly complex.
This tangled web of financial negotiations reflects the historical complicity of developed nations, whose industrial activities over centuries primarily fueled climate change. While China emerges as a major emitter, officially ranked as a developing nation, delegations remain split on how to categorize countries when discussing financial obligations. But such dynamics are not lost on Azerbaijan’s leadership. President Ilham Aliyev has defended the rights of fossil fuel-rich nations to pursue energy investments, reflecting the attitude strongly felt throughout the country’s narrative on climate change.
Competing agendas and interests have convoluted the discussions, with COP29 casting its proverbial net over pressing issues of funding and fossil fuel dependency against the stark backdrop of rising global temperatures. Simultaneously, the threat posed by Donald Trump’s re-election looms, as climate action advocates fear his presidency could lead to reduced climate commitments by the U.S. worse yet, Trump’s administration previously dismissed climate science, weakened environmental regulations, and withdrew from key international climate agreements. His presence creates uncertainty and adds complications to COP29 negotiations.
It’s clear the stakes are incredibly high as nations around the world feel the pull of climate-induced disasters. Far too many coastal cities face risks from rising sea levels, and entire ecosystems have been jeopardized by global warming. With the stakes this high, the outcomes of COP29 will be pivotal. The emphasis on finance for adaption and loss and damage has never been more important than now, with many advocates urging for increased efforts to establish long-term funding mechanisms.
The road to COP29 has not been easy, especially with the mounting criticism of Azerbaijan’s record on human rights affecting delegations. Many Canadian opposition parties chose not to participate due to concerns over Azerbaijan’s treatment of ethnic Armenians, raising alarms over political accountability and transparency surrounding the conference. This underlying tension is palpable as participants and global observers approach the summit, seeking accountability and integrity from the host nation.
Despite the accusations of greenwashing surrounding Azerbaijan’s claims to prioritize green energy, analysts point out the nation does possess considerable untapped renewable resources. Still, over 60% of revenue remains tied up with fossil fuel production. The debate remains whether Baku can truly pivot toward sustainable energy solutions without compromising its economic foundations.
The resulting outcome of COP29 could significantly alter how institutional approaches handle the climate crisis—giving priority to finance distribution or addressing fossil fuel usage within climate dialogues. Regardless, the world is watching, and the pressure is on to bring forth actionable commitments and strategic frameworks capable of tackling the existential threats climate change presents. Will COP29 be the turning point the world desperately needs? Only time will tell.
