By Thobeka Makume
As the 29th United Nations Climate Change Conference (COP29) commences in Baku, Azerbaijan, South Africa is poised to play a pivotal role in advancing climate finance mechanisms for developing nations. Minister of Forestry, Fisheries and the Environment, Dr. Dion George, emphasised the necessity for a robust New Collective Quantified Goal on Finance (NCQG) to address the inadequacies of current funding structures.
“The existing financing mechanisms have proven insufficient in scale and effectiveness, highlighting the urgency for a new financing model,” stated Minister George on Sunday. He expressed confidence in the South African delegation attending COP29, which runs from 11 to 22 November 2024.
COP29, themed “In Solidarity for a Green World,” aims to intensify efforts to quantify resources enabling developing countries to meet ambitious climate targets. The conference occurs amid escalating geopolitical tensions and debates over carbon border adjustments, underscoring the need for unified climate action.
A key focus for South Africa is the adoption of Article 6.4 rules, facilitating the implementation of carbon market measures. Minister George highlighted that establishing transparent mechanisms under Article 6 would enable countries to collaborate more effectively, fostering economic growth, decarbonisation, and job creation.
In a significant development, Minister George, alongside Norwegian Minister of Climate and Environment Tore Onshuus Sandvik, has been appointed to co-chair discussions on mitigation. This Ministerial Pair will engage with parties and negotiating groups to address barriers in implementing Nationally Determined Contributions (NDCs) and achieving the 1.5-degree Celsius goal by 2050.
South Africa will also host an exhibition pavilion at COP29, in partnership with the National Business Initiative (NBI). The pavilion will feature dialogues and side events showcasing the nation’s efforts in climate adaptation and mitigation.
Minister George encouraged South Africans to follow the proceedings online, expressing confidence in the delegation’s capacity to advocate for enhanced climate finance and collaborative action at COP29.
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