Just one week until COP on the Steppe
Keeping you updated about the COP on the Steppe!
Welcome to the eighth edition of our COP29 newsletter! As Baku gears up for this historic climate conference, we're here to keep you informed with the latest updates, insights, and news leading up to the event.
Stay tuned as we cover the key developments surrounding COP29 and its potential impact on the region and beyond.
Countdown to COP: 1 Week to go!
Insights:
COP29 in Baku is set to prioritize ambitious climate finance goals, focusing on a new New Collective Quantified Goal (NCQG), with South Africa advocating for $1.3 trillion annually to support developing nations' climate transitions. This expanded goal aims to fund Nationally Determined Contributions (NDCs) and support transitions to low-carbon economies for developing economies. COP29 calls for intensified collaboration across public, private, and nonprofit sectors to establish actionable frameworks for climate resilience and sustainable development worldwide.
Pre-COP discussions at the IMF and World Bank meetings in Washington emphasized the need for fiscal reform and accessible climate finance for debt-stricken nations. This momentum is further strengthened by US-China progress on narrowing differences in climate finance positions, suggesting possible cooperation at COP29. The Baku Initiative for Climate Finance (BICFIT) will also convene to encourage private-sector engagement in green investments. Finally, Baku’s logistical preparations—from volunteer training to securing renewable energy sources for the event—reflect Azerbaijan’s commitment to hosting a sustainable COP29.
Recent Developments around COP29
COP29 leaders, including Azerbaijan, South Africa, and Colombia, are collaborating on climate finance, biodiversity, and sustainability strategies to set ambitious global commitments.
South African youth and Pakistan are advocating for climate justice, finance reforms, and support for vulnerable nations facing severe climate impacts.
Azerbaijan is preparing for COP29 with volunteer training, renewable energy integration at venues, and enhanced healthcare facilities for attendees.
Special traffic lanes, expanded airport operations, and improved public health services highlight Baku's readiness to host a large-scale event.
Brazil’s President Lula will miss COP29 due to health concerns, while Indonesia will focus on emissions reductions and carbon trading with Hashim S. Djojohadikusumo leading their delegation.
COP29 will promote inclusive climate dialogue through an interfaith gathering, youth representation, and commitments to accessible, sustainable event practices.
Trends from COP
Our partners at Trend sat down with Nazeem Noordali, COO of the International Islamic Trade Finance Corporation (ITFC), who discussed ITFC's commitment to COP29's long-term sustainability goals in Azerbaijan. He emphasized the significance of hosting COP outside G20 nations, viewing Azerbaijan as a gateway to Central Asia and a pivotal player in connecting green finance and sustainable trade initiatives across regions, including Central Asia, Africa, and the Gulf.
For more details: ITFC looking at contributing to long-term goal of COP29 - Chief Operating Officer (Exclusive) at trend.az
Polling on regional attitudes towards COP29
Our polling aimed to gauge how effective people in the region believe international climate conferences like COP29 are in addressing global climate change.
Results show that 33% of respondents across the region view international climate conferences like COP29 as highly effective in addressing global climate change. The highest levels of optimism are seen in Azerbaijan (37%) and Georgia (38%), indicating strong expectations for meaningful outcomes from such events. Uzbekistan also reflects significant confidence, with 38% of respondents rating these conferences as highly effective.
However, skepticism remains, with 21% of respondents rating the effectiveness of these conferences very low. Kyrgyzstan and Tajikistan stand out, where 27% of respondents question the impact of international efforts. The average effectiveness score of 6.0 across the region suggests cautious optimism but highlights the need for COP29 to deliver concrete results to strengthen public confidence.
What We’re Reading
COP29 Summit in Baku: What to Expect - Council on Foreign Relations by Alice C. Hill and Priyanka Mahat
What to expect from COP29 – ‘The Finance COP’ - Institutional Investors Group on Climate Change (IIGCC)
Polluters must pay: how COP29 can make this a reality -  by Llewellyn Leonard Professor of Environmental Science, University of South Africa on The Conversation.
If you have any questions about the contents of this newsletter or need advice or assistance at COP29, please don’t hesitate to contact us at eurasia@montfort.london, or our partners at Trend at news@trend.az.