COP29: Europe’s chance to lead global green transition Mukhtar Babayev’s article from Euractiv

Euractiv has published an article by COP29 President-Designate Mukhtar Babayev, focusing on Europe’s role in combating climate change. Caliber.Az reprints the article.

Azerbaijan is honoured to assume the COP29 presidency and is committed to steering discussions toward a global agreement that advances the goals of the Paris Agreement, raising ambition and enabling action worldwide.

The stakes are higher than ever. This summit will be a defining moment, not only to reaffirm commitments but to drive the global green transition. To succeed, we need the support of all Parties, including the EU and its member states.

Europe has already felt the impact of climate change firsthand, with its average temperature rising over 2°C in the past decade, surpassing the global average. Alarming extreme weather events across Europe underscore the urgency of climate action.

Europe's Responsibility and Opportunity

Europe has long pioneered climate solutions through renewable energy, sustainable infrastructure, and a focus on wellbeing. It therefore has the credibility to continue advocating for more climate action on the global stage, demonstrating that economic resilience and environmental sustainability are not just compatible but fundamentally intertwined.

The Green Deal, with a legal requirement of reaching carbon neutrality by 2050, offers a roadmap through these precarious times. Although recent energy challenges exposed vulnerabilities, short-term measures like coal use must not derail Europe’s long-term climate ambitions.

A key issue at COP29 will be securing a New Collective Quantified Goal on climate finance (NCQG) and greater commitments to climate finance tools. Developed nations, including those in Europe, must uphold financial pledges, particularly through operationalising the Loss and Damage Fund to aid countries bearing the brunt of climate change.

Beginning disbursements in 2025, this fund is not just financial; it is a matter of justice and equity for those least responsible yet most affected. The developed world has a moral duty to ensure they receive the support they need.

Beyond finance, the COP29 Action Agenda will drive emissions reductions, renewable transitions, and adaptation measures. Europe’s resources, technology, and diplomacy uniquely position it to lead this charge. While the EU has made significant progress, the global challenge requires collective ambition and action.

COP29 is Europe’s opportunity to explore new projects and push for more ambitious targets, both at home and abroad.

The World Needs an Equitable Transition

The energy crisis has highlighted the importance of balancing the immediate need for energy security with the long-term goal of decarbonising our economies. Europe, with its advanced renewable energy sector, can demonstrate that it is possible to achieve both.

The continent’s leadership in driving the green transition will not only help mitigate the effects of climate change, but also ensure that Europe remains competitive in a rapidly changing global economy.

Leadership in the climate fight also means ensuring a just transition, one that addresses the needs of workers and communities affected by the shift away from fossil fuels. Europe can lead in creating policies that support these communities while advancing the green transition.

Member states are already pioneering regional sustainability projects, such as the recently established Green Energy Corridor Power Company, a joint venture between Azerbaijan, Georgia, Hungary, and Romania, with the feasibility study's initial results to be presented at COP29 in Baku this November.

Our Call to Action

COP29 is not just another international summit. It is a critical juncture where Europe must continue to lead with boldness and vision.

Europe’s leadership is indispensable, not only in setting ambitious climate targets, but also in providing the financial and technological support needed to drive a global transition to renewable energy.

At the same time, we strongly encourage all Parties and non-Party stakeholders, based and operating in the EU, to join in declarations, pledges, and appeals, and to help build momentum for climate action ahead of COP29.

This decade is our window for action. Global greenhouse gas emissions must peak and begin to decline rapidly. Yet the world is more fragmented than ever, and COP29 will be a litmus test for the multilateral system’s ability to rise to this challenge.

In Baku this November, we have the opportunity to drive progress toward a better future the generations to come.

By Aghakazim Guliyev