COP29 climat

The Parties will need to come to an agreement on a New Collective Quantified Goal (NCQG) for climate finance for developing countries, set based on the previous goal of 100 billion dollars per year*. France is one of the most committed developed countries in terms of climate finance. In 2022, France assigned 7.6 billion euros in bilateral and multilateral finance, including 2.6 for adaptation.  France is also working on reforming the global financial system thanks, in part, to the organisation of the Paris Pact for People and the Planet in June 2023 and the launch of the Global Solidarity Levies Task Force at COP28.

_{* At COP15 (Copenhagen, 2009), developed countries came to an agreement to mobilise 100 billion dollars per year, by 2020, to take into account the needs of developing countries in mitigating and adapting to climate change. The goal was extended to 2025 at COP21 (Paris, 2015).}

Article 6 of the Paris Agreement provides a framework for voluntary cooperation between countries. This cooperation can take various forms: 
•    a framework for carbon emission trading between countries;
•    an ambitious, centralised, international carbon credit certification mechanism;
•    a platform dedicated to other forms of so-called ‘non-market’ cooperation.
A priority of COP29 is to finalise the rules for this framework. The established rules should guarantee environmental integrity.

COP28 led to the introduction of a new fund devoted to loss and damage, that was added to a range of financial support mechanisms, intended to provide technical and financial support for the vulnerable countries most impacted by the effects of climate change. At COP29, the Loss and Damages Fund governing board will be given the opportunity to present the progress made since Dubai.

The Paris Agreement works on a five-year cycle of climate action which begins with each country submitting its national climate action plan, known as Nationally Determined Contributions (NDC). The first cycle began after the Paris Agreement when countries submitted their climate goals for 2030. This cycle came to an end with the first global stocktake last year which assessed the NDCs already made and how this was rolled out in each country.
COP29 will be a chance to encourage countries to adopt new and ambitious NDCs, in keeping with the 1.5°C global warming threshold. These contributions should also involve any collective efforts in line with the commitments made at COP28, including the goal of transitioning away from fossil fuels, and these commitments should be transformed into concrete action. 
According to the UN, the new NDCs presented in 2025 prior to COP30 should aim to reduce greenhouse gas emissions by almost half by 2030, to avoid a trajectory of more than 2°C, which would lead to even more serious impacts of climate change. The current NDCs would only lead to a 5.3% decrease in emissions by 2030 versus 2019, instead of the 43% required. 
For France and the European Union, the aim of each COP is to make sure countries stay committed on a political level and to boost the ecological transition across the globe, in order to overcome shortfalls in terms of goals (emissions mitigation pledges that are not in line with the Paris Agreement) and inadequate implementation (current policies that do not allow the Parties to respect their commitments). In addition to France’s national initiatives, we also use the COPs to encourage the rest of the world to make the same level of effort so that together, we can reach the goals of the Paris Agreement.

The adoption of the first five-yearly global stocktake for the Paris Agreement was the major success story of COP28 in 2023. The significant progress made includes a series of global commitments related to the energy sector (paragraph 28). In particular, and for the first time, a decision mentions the use of all fossil fuels and calls on the Parties to ‘transition away from fossil fuels in energy systems in a just, organised and equitable manner, accelerating climate action in this critical decade, to reach carbon neutrality by 2050'.
The implementation of the global stocktake is however under threat from objecting countries who are even preventing the inclusion of proposals that have already been approved in other multilateral forums at COP28.  If the latest major multilateral events on the climate (Pact for the Future, G20) reach the same conclusions as the global stocktake, the COP29 is expected to fully encourage the implementation of this historic decision.