What's on the agenda at COP29 after Trump win?

Diario As

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00:00I want to thank the American people for the extraordinary honor of being elected your

00:1147th president and your 45th president.

00:19With this election result, we really get very concerned that all the talks are now going

00:27to be what will happen in the absence of the U.S. and the U.S. not meeting its finance

00:34goal or even reversing some of the mitigation policies that Biden administration brought.

00:42That is going to be at the heart of the conversation at COP 29.

00:58So, finance happens to be at the core of COP 29 climate conference, but then there are

01:07other topics which are going to be important.

01:09For instance, last year we got a historic agreement on transitioning away from fossil

01:15fuels and there are still discussions on how do we now implement that decision, be it tripling

01:20renewable energy or doubling energy efficiency.

01:22We have not been able to get any hint from again developed countries how they are going

01:28to adopt those targets domestically and provide resources to developing countries.

01:33Similarly, money for adaptation to help countries prepare for climate impacts is not coming

01:37through.

01:38Hearing no objection, it is so decided.

01:57There is going to be some crucial points of negotiation in COP 29, it is the finance

02:09scope.

02:10The finance scope defines the pace of action.

02:12It is kind of hugely important.

02:14There is going to be a major redefinition of the new collective quantified goal of allocating

02:22funding for the poorest countries to be able to address climate change for just transition.

02:29So there is going to be very important points of negotiation.

02:33They are very challenging points of negotiation.

02:35When you put money on the table and allocation of budget, that gets into a lot of very tense

02:41discussions.

02:56This is where we then come to the debate of probably expanding the space of donor countries

03:01to reflect also some of the rather rich developing countries who are already contributing to

03:08climate finance but don't want it to be reported at the same level as the rich countries currently

03:13do.

03:23We look back to when Trump was last elected.

03:26We had the COP in Marrakesh right after.

03:29We saw a lot of uncertainty and concerns for the first hours and that's natural.

03:34We see that again now.

03:36But afterwards you saw countries coming together again and really being keen to negotiate the

03:41outcomes.

03:42So even this year, now that we have the result already, I expect a lot of leaders to actually

03:48step up and feel the need to clearly distance themselves from the climate denialism that

03:55he talks about and projects.

04:15As we go into COP, and what's making COP even more important this year, is in the past when

04:20the US has pulled back, we've seen other countries pull back, but there's a lot of momentum now

04:24in the climate system.

04:25The energy transition is underway and there's other things that are driving it.

04:30Market demand, prices, renewable prices coming down, battery storage going up.

04:36So there's a lot of momentum in the system.

04:38And I think what we don't know is how other countries are going to respond.

04:42So the big thing is going to happen at COP when we start to see other countries coming

04:46out.

04:47They've got time to think what they're going to do and we'll see and get a temperature

04:50take at that point.

05:09The talks this year should really lay out the groundwork for a critical, the critical

05:14moment next year, which will mark 10 years since the Paris Agreement was signed.

05:20And it's also kind of the deadline for countries to submit their NDCs, so Nationally Determined

05:26Contributions or National Climate Action Plans.

05:30And in order to do this, developing countries need to be sure that the money is available.

05:35And at COP 29, this really needs to be secured and agreed.

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