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Your guide to the COP29 summit

The 2024 UN climate conference (COP29) kicks off on Monday, Nov. 11 in Baku, Azerbaijan. Dubbed the “Finance COP,” this year’s summit is laser focused on how to mobilize more money for fighting climate change. With solutions on the table but investment still lagging — especially in developing countries on the frontlines of the crisis — a strong finance outcome at COP29 could unlock a new era of action.

The single biggest measure of success will be whether negotiators can agree on an ambitious new climate finance goal that truly meets developing countries’ needs. Ensuring these countries have enough resources to swiftly slash emissions is a prerequisite for halting global temperature rise and preventing floods, droughts and other disasters around the world.

Outside the finance realm, COP29 is also a major moment for leaders to develop stronger national climate strategies and show tangible progress on past pledges.

WRI experts will be on the ground in Baku over the next two weeks providing insights into the negotiations. Explore our content below for a primer on COP29 as well as deeper dives into the summit’s key issues. And to stay up to date on how negotiations are unfolding, check out our COP29 Resource Hub.

Video of Ani Dasgupta, President and CEO of WRI

WRI President & CEO Ani Dasgupta shares our key priorities for COP29, highlighting what’s at stake for global climate action at this critical moment.

The Basics

About COP: The annual UN climate summit, or COP, is the main venue for world leaders to discuss and accelerate global climate change solutions. COPs have launched much of the world’s collective climate action to date.
COP29, in brief: WRI experts are looking for four key outcomes from this year’s summit: an ambitious new climate finance goal, momentum for stronger national climate commitments, tangible progress on past pledges, and increased funding for loss and damage.

Deeper Dive: Issues at COP29

What to expect: Alongside the topline outcomes, negotiations at COP will cover a wide range of topics, from regulating international carbon markets to increasing accountability for climate action. Here’s what to know about the issues at stake.
The finance debate: Discussions on the new climate finance goal will likely be contentious. Despite three years of preliminary talks, basic questions about the goal's size, timeframe, contributors and more still need to be resolved at the summit.
Country pledges: COP will also serve as a staging ground for developing new national climate commitments (NDCs), which are due in early 2025.

In the Weeds: Raising Global Ambition

The path to 1.5 degrees: Countries remain staggeringly off track to reach their shared goal of limiting warming to 1.5 degrees C (2.7 degrees F). Keeping this critical target in reach will require much more aggressive action in high-emitting sectors by both 2030 and 2035. The Systems Change Lab lays out a by-the-numbers breakdown of what’s needed.
Priorities for 2025 NDCs: To meet the scale and urgency of the crisis, new NDCs unveiled at COP29 and in the months after must represent a paradigm shift in climate ambition and implementation — starting with five key action items.
Who pays for climate finance?: One of the hottest debates surrounding the “new collective quantified goal,” or NCQG, is which countries should contribute climate finance. Past emissions and national income offer two viable pathways for determining which countries have a responsibility to pay.

STAY UP TO DATE

WRI's COP29 Resource Hub

WRI experts will be on the ground in Baku, Azerbaijan during the COP29 summit providing insights into the negotiations and what’s needed for a successful outcome. Visit our Resource Hub to stay up to date on the latest articles, news and events.

View the Hub