Overview
COP29, or the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), will take place in Baku, Azerbaijan from 11 to 22 November 2024. It marks a critical milestone of global climate action, as countries come together to address the urgent climate crisis and build upon previous commitments. The conference will focus on two key pillars: enhancing ambition through national plans and transparency, and enabling action through finance to support emissions reduction, adaptation, and loss and damage initiatives. It will serve as a critical platform for key stakeholders to cooperate, negotiate, and make commitments to combat climate change.
UIC is an observer organization to UNFCCC and will engage in the conference to represent the voice of rail sector and advocate for the role of rail in slashing emissions from the transport sector.
COP29 Presidency priorities
The COP29 Presidency, led by H.E. Mukhtar Babayev, has established key priorities to tackle climate change effectively. Central to these priorities is the goal of keeping global warming below 1.5°C while ensuring inclusivity. A significant focus is on developing a fair and ambitious New Collective Quantified Goal on climate finance (NCQG) to mobilize necessary resources. The presidency also emphasizes advancing National Adaptation Plans, encouraging Nationally Determined Contributions (NDCs) aligned with climate targets, and operationalizing Article 6 of the Paris Agreement related to carbon markets.
Additionally, there is a commitment to swift action on loss and damage through the establishment of a responsive fund, alongside addressing critical thematic issues such as finance, energy, biodiversity, and sustainable urbanization. Ultimately, the presidency aims to bridge the gap between developed and developing nations, fostering collaboration to accelerate progress across all areas of the Paris Agreement.
Key messages for COP29
UIC is working with partners to develop the knowledge products that will serve as the basis for the advocacy work to be done at COP29. When finalized the products will be uploaded in this page – for now, see a short summary of the work:
- Rail NDC Template: provide countries with a facilitated framework to integrate rail transport and help articulate specific, measurable targets for rail development and its role in reducing transport emissions. Through this template, countries will be able to showcase the potential for emissions reduction and encourage investment in rail infrastructure. This tool can also facilitate international cooperation and knowledge sharing, ultimately accelerating the decarbonization of the transport sector through increased rail utilization.
- Carbon Credit Market Opportunities for the Rail Sector: the paper will explore the untapped potential for railways to participate in and benefit from carbon markets. It will also examine how rail projects could generate carbon credits through emissions reduction, especially focusing on the Internationally Transferred Mitigation Outcomes (ITMOs), set up by Article 6 of the Paris Agreement.