COP29: Presidencies Troika calls for high climate ambitions

The COP Presidencies Troika, which includes the UAE, Azerbaijan, and Brazil, held a meeting on Wednesday during COP29 in Azerbaijan’s capital to assess the "Roadmap to Mission 1.5C."

They discussed the remaining gaps in implementing climate policies in the upcoming rounds of Nationally Determined Contributions (NDCs) in 2025, which are commitments that countries make to reduce their greenhouse gas emissions as part of climate change mitigation. 

The Troika urged countries to come up with ambitious NDCs. The statement was made while Azerbaijan, this year's host, is yet to submit an NDC.

NDCs should include sector-specific targets, such as concrete goals for shifting to emissions-free energy and food systems, the World Resources Institute (WRI) said.

The Chief Executive Officer of COP 28 in Dubai last year, Adnan Amin stated: "It is clear that this three-year period between COP28 and COP30 will help us meet the ambitions of the Paris Agreement and achieve the consensus we reached in Dubai. We have worked very closely together over the past year."

Last year, the UAE Consensus made an unprecedented reference to transitioning away from all fossil fuels in energy systems in a just, orderly and equitable manner. It also call for tripling renewables and doubling energy efficiency by 2030, accelerating the reduction of non-CO2 gases, in addition to galvanizing momentum to progress beyond the doubling on adaptation finance and ushered in a new mode of work, with a view to adopt of a decision on the New Collective Quantified Goal on Climate Finance (NCQG) at COP29 that responds to the implementation of the UAE Consensus.

This year's edition of the UN Climate Conference is focused on increasing financing for climate targets. 

A recent study determined that the world’s most climate-vulnerable nations are paying two times as much annually on external debt repayments as they receive financial help to address climate change. This financial strain hampers their ability to invest in crucial climate resilience and adaptation efforts, deepening their exposure to climate risks.

"The scale and speed of climate actions are not aligned with the scale and speed of the threat. It is urgent that we raise our ambitions. We need more funding. In order to support us, we need access to technology and capacity building by developed countries," said the Minister of Environment and Climate Change of Brazil, Marina Silva, during the Troika meeting.

Rich nations barely met a $100 billion a year target set as part of an agreement in 2009. Now experts and developing countries are pushing for $1 trillion a year or more.