The Ministry of Environment (Minister Kim Wansup) announced that the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) will be held in Baku, Azerbaijan, from November 11 at 3 p.m. (Korean time, 10 a.m. in Azerbaijan) to November 22.

Approximately 40,000 people, including representatives from 198 parties, are expected to attend the conference, and South Korea will be represented by a government delegation led by Minister of Environment Kim Wansup as the chief representative (with Jeong Ki-yong, Ambassador and Deputy Minister for Climate Change at the Ministry of Foreign Affairs, as the alternate chief representative), comprising officials from relevant ministries* and experts.

* Ministry of Environment; Ministry of Foreign Affairs; Ministry of Trade, Industry and Energy; Ministry of Economy and Finance; Ministry of Science and ICT; Ministry of Land, Infrastructure and Transport; Ministry of Oceans and Fisheries; Ministry of Agriculture, Food and Rural Affairs; Ministry of Employment and Labor; Office for Government Policy Coordination (Presidential Commission on Carbon Neutrality and Green Growth); Korea Forest Service; Korea Meteorological Administration; etc.

This year’s conference is expected to be focused on creating an implementation framework to enhance the climate action ambitions of the parties, with the New Collective Quantified Goal for climate finance post-2025 and the finalization of the operational rules for Article 6 of the Paris Agreement being the main issues.

In addition, the host country Azerbaijan will hold the World Leaders Climate Action Summit from November 12 to 13 to unify the commitment of each country’s leaders towards achieving the 1.5℃ target of the Paris Agreement.

At this Conference of the Parties, over 90 agendas will be addressed in areas such as mitigation, adaptation, finance, matters related to Article 6 of the Paris Agreement, global stocktaking, and loss and damage, with discussions focusing on the efforts made so far and the future tasks for implementation in each area.

First, regarding the establishment of the New Collective Quantified Goal (NCQG) for climate finance post-2025, the size and scope of the financial targets and the range of contributing countries are expected to be key issues. Intense negotiations are anticipated at this year’s conference to narrow the differences in positions among the parties based on the dialogues and negotiation outcomes of technical experts to reach an agreement. Developed countries argue for the inclusion of private finance and the widening of the range of contributing countries to mobilize funds, while developing countries maintain that developed countries should fulfill their obligations under the agreement based on public finance. The parties will recognize the importance of resources in the urgency of responding to the climate crisis; however, there may be difficulties in the process of agreeing on specific targets or the structure of the financial goals.

In this regard, the international community agreed at the 16th Conference of the Parties (COP16, 2010) that developed countries would respond to the needs of developing countries and strive to achieve a common goal of $100 billion annually by 2020, in the context of meaningful mitigation actions and transparency in implementation. Subsequently, at the 21st Conference of the Parties (COP21, 2015), the timeline for achieving the common goal was extended to 2025, and it was agreed to set a target for mobilizing over $100 billion annually in new climate finance before 2025.

Article 6 of the Paris Agreement enables voluntary cooperation among parties to enhance mitigation and adaptation ambitions, promote sustainable development, and ensure environmental integrity. Regarding the establishment of the detailed implementation rules for Article 6 of the Paris Agreement, the 26th Conference of the Parties (COP26, 2021) successfully adopted Articles 6.2 (Cooperative Approaches), 6.4 (Mechanism), and 6.8 (Non-Market Approaches), and negotiations for the detailed guidelines to operate each provision are ongoing.

At the 60th meeting of the Subsidiary Body for Implementation (SBI60) and the Pre-COP29 (2024), there was a consensus on the importance and necessity of negotiations on Article 6. The chair of the 29th Conference of the Parties (Azerbaijan) also stated that the finalization of the operationalization of Article 6 is a priority for this COP, emphasizing that the full operation of Article 6 is expected to contribute to strengthening mitigation and adaptation ambitions, enhancing capital markets, creating viable economic models for climate action and technology, shaping financial and technological flows, and realizing mitigation plans using carbon markets.

However, differences are expected to arise in the process of agreeing on the detailed implementation guidelines, such as the operation of emission reduction  authorization and registries, due to varying emphases between countries that highlight party sovereignty, discretion, and flexible operation of projects and those that focus on meeting investment stability and environmental integrity.

Regarding greenhouse gas reductions, the negotiation of a draft decision for each country’s practical implementation of the ‘Sharm El Sheikh Implementation Plan*’ will take place in the Mitigation Work Program (MWP**, 2023-2026), which was launched at the conference. Negotiations will also begin for the guidelines on the characteristics of Nationally Determined Contributions (NDCs), following the transfer of discussions to align with the detailed implementation rules of the Paris Agreement for the first time.

* Decision Document from the 27th Conference of the Parties (2022, COP27): Regarding reductions, it decided to strengthen mitigation ambition and implementation as a complement to the global stocktake, hold a global dialogue at least twice a year, and adopt decisions reflecting implementation.

** Holding a Global Dialogue and Investment-focused Event twice a year, discussing reduction strategies through energy transition (2023) and building and urban systems (2024)

Regarding climate change adaptation, the 28th Conference of the Parties (COP28, 2023) adopted a Global Goal on Adaptation* implementation framework and set target values by policy cycle. This year, discussions will focus on establishing detailed indicators for evaluating the achievement of these targets. The UAE-Belem work programme on the development of indicators for the Global Goal on Adaptation goal will be carried out until 2026. Achieving a balance between adaptation and mitigation finance is also emphasized.

* Global Goal on Adaptation: △ Enhancing adaptive capacity, △ Strengthening climate resilience, △ Reducing vulnerability to climate change

After reaching an agreement on the operationalization of the fund for loss and damage response at the 28th COP, positive progress has been made, including the establishment of the fund's governing board. This year, it is expected that efforts will be made to find cohesive operational strategies among the Warsaw International Mechanism (WIM), the Santiago Network, and the fund for loss and damage response.

In the context of enhancing climate action ambitions, there will likely be calls on-site for all parties to timely submit the first Biennial Transparency Report (BTR) due by the end of this year and to submit their 2035 Nationally Determined Contributions (NDCs) in alignment with the 1.5℃ target within the deadline.

The South Korean delegation plans to play a bridging role between developed and developing countries by coordinating with major countries and the Environmental Integrity Group (EIG*) to achieve agreements that can contribute to carbon neutrality on key negotiation agendas such as mitigation, adaptation, finance, and Article 6 of the Paris Agreement, while actively emphasizing national interests and policy intentions as a global pivotal country.

* Environmental Integrity Group (EIG): A climate change negotiation group consisting of South Korea, Switzerland, Mexico, Monaco, Liechtenstein, and Georgia.

This year, the Korean Pavilion (Baku Stadium) has prepared 41 side events to enable various actors, including industry, academia, and youth, to engage in climate change response activities in the international community, with participation from 75 domestic and international organizations. Under the theme of Achieving a Circular Economy and Low-Carbon Economy through Green Technology, it will showcase and promote South Korea’s excellent technologies and provide a space for exchanges to facilitate entry into overseas markets.

Minister Kim Wansup, as the chief representative of the South Korean government delegation, will engage in activities including: △ keynote speech at the high-level meeting (national statement), △ bilateral meetings with key environmental cooperation countries and international organizations, △ the Forum on the Achievements of Transparency Education for Developing Countries co-hosted by the Ministry of Environment and the UN Framework Convention on Climate Change (UNFCCC)　Secretariat, △ high-level roundtable discussions on enhancing global climate action response in various sectors, and △ dialogues with delegations from the industry and youth representatives.

In the keynote speech at the high-level meeting scheduled for November 19 to 20, Minister Kim Wansup will emphasize the importance of strengthening domestic and international climate action to achieve the effective implementation of the Paris Agreement in response to the climate crisis and will introduce the status of South Korea’s carbon neutrality policy implementation. In particular, he will share the reduction achievements on a decreasing trend following the peak greenhouse gas emissions in 2018, the country’s commitment to establish an advanced version of the 2035 NDC, and the preparation process for the first BTR with the international community. 

In particular, at this conference, Minister Kim Wansup will present plans to expand support for transparency education programs and establish an expert network (tentatively called the Korea Climate Transparency Alliance, KCTA) to realize the government’s vision of strengthening its role as a green ladder to assist vulnerable countries in achieving sustainable growth as a capable middle power in addressing climate change.

Through the Forum on the Achievements of Transparency Education for Developing Countries, jointly hosted by the Ministry of Environment and the UNFCCC Secretariat, there are plans to share experiences globally. Graduates from the Developing Country Training Program, which has been conducted by the Ministry of Environment and related institutions (including the Greenhouse Gas Inventory and Research Center of Korea;  the Korean Environment Institute; and the Korea Adaptation Center for Climate Change), will also attend to share their experiences directly.

From November 18 to 20, Minister Kim Wansup will meet with Wopke Hoekstra, the European Commission’s Commissioner for Climate Action, to request measures to alleviate the burden on our industry in anticipation of the full implementation of the carbon border adjustment mechanism in 2026.

In addition, Minister Kim Wansup will share South Korea’s carbon neutrality promotion plans and efforts, focusing on the main agendas of the 29th COP, with Ed Miliband, the UK government’s Minister for Energy Security and Net Zero, who was appointed in July.

Furthermore, through bilateral meetings with Singapore, Australia, and the United Nations Environment Programme (UNEP), Minister Kim will request cooperation regarding drafting agendas for the 5th Intergovernmental Negotiating Committee on the Plastics Treaty (INC-5) to be held in Busan, South Korea, on November 25, and for the successful hosting of World Environment Day in 2025.

Minister Kim Wansup stated, “At a time when uncertainties regarding the conditions for implementing climate change policies in the international community are increasing, it is crucial to create a foundation for the actual implementation of commitments to respond to the climate crisis.” He continued, “I hope that the 29th Conference of the Parties will promote global climate action and enhance ambitions, leading to solidarity toward the 1.5℃ target, and that our country will also act responsibly as a member of the international community.”

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