As the countdown to COP29 begins, the Middle East and North Africa (MENA) region faces a very unique moment in history to strengthen its role in global climate action. Scheduled to take place in November in Baku, Azerbaijan, COP29 offers the region an indispensable opportunity to showcase its commitment to addressing climate challenges, while exploring pathways to enhance climate leadership.
The stakes are high, with world leaders and policymakers set to discuss strategies to combat climate change and meet global emissions targets.
For the MENA region, which is often associated with its vast oil and gas resources, COP29 presents a platform to shift the narrative towards sustainable development and renewable energy.
With rising temperatures, water scarcity, and the impacts of extreme weather events becoming more frequent across the region, now is the time for MENA countries to accelerate their efforts in climate adaptation and mitigation. Countries such as the UAE and Saudi Arabia have already announced ambitious climate goals, and COP29 offers a chance to build on this momentum.
Key areas for the region to focus on at COP29 include climate finance, adaptation strategies, and the scaling of renewable energy projects. By tapping into these opportunities, MENA countries can align themselves with global climate targets while addressing their own environmental vulnerabilities.
The upcoming summit is also a chance to highlight the region’s potential as a hub for green investment and innovation, attracting international partnerships and funding for sustainable projects.
To seize the moment, MENA leaders will need to commit to clear, actionable steps at COP29. This includes presenting comprehensive Nationally Determined Contributions (NDCs), ramping up renewable energy investments, and playing a key role in shaping global climate finance mechanisms.
By doing so, the region can demonstrate that it is not just a contributor to global emissions but also a leader in the fight against climate change.
What are COP summits?
The Conference of the Parties (COP) is an annual meeting of nations that have signed the UN Framework Convention on Climate Change (UNFCCC), established in 1992 to combat global warming.
The goal of the convention is to stabilise greenhouse gas emissions and prevent dangerous human-induced interference with the climate. Over the years, COP summits have become critical forums where countries negotiate climate targets and set new international climate policies.
COP28, held in Dubai, set a new record as the most attended climate COP in history, with 97,000 delegates and over 150 heads of state. The summit concluded the first-ever Global Stocktake (GST), a mid-term review of progress toward the 2015 Paris Agreement.
As COP29 approaches, the focus will be on building on the achievements of previous summits, with a particular emphasis on mobilising climate finance and achieving net-zero emissions targets.
Major priorities for COP29
1. Climate Finance and the New Collective Quantified Goal (NCQG)
COP29 is expected to be heavily focused on climate finance, with many dubbing it the “finance COP.” One of the most pressing challenges is the unresolved issue of the New Collective Quantified Goal (NCQG) for climate finance, which remains a point of contention among the conference’s parties.
Key issues such as the amount of funding required, the contributors, and how the funds will be used still need to be settled. For the MENA region, securing climate finance is essential to scaling up renewable energy projects and implementing adaptation strategies.
Private sector engagement will be crucial to unlocking climate finance. Many current schemes rely on assumptions about private capital, which have not always materialised.
The private sector needs to be actively involved in creating the conditions necessary for investments to flow into climate projects, particularly in emerging markets like MENA.
2. Article 6: Mobilising Carbon Markets
Carbon markets have been a topic of debate in international climate policy, with mixed results. While they offer a debt-free mechanism for financing green projects, concerns over greenwashing and lack of regulation have hindered their effectiveness. Article 6 of the Paris Agreement outlines the principles for carbon markets, but progress on implementing these guidelines has stalled in recent years.
COP29 represents a chance to fully operationalise Article 6, enabling better quality carbon markets that drive real emissions reductions. For MENA countries, a functional carbon market could be a key tool for financing climate projects, allowing countries to sell carbon credits and attract foreign investment.
The region’s vast renewable energy potential makes it an attractive candidate for carbon market participation, but strong regulatory frameworks must be in place to ensure transparency and effectiveness.
3. Growing the Loss and Damage Fund
The Loss and Damage Fund, established to help vulnerable countries cope with the impacts of climate change, remains underfunded. For MENA countries, which are experiencing some of the harshest effects of climate change, such as desertification and water scarcity, the fund is critical.
At COP29, leaders will need to push for increased financial commitments and the establishment of a robust governance structure to ensure that the fund can meet the region’s needs.
One key area of focus will be involving the private sector in the Loss and Damage Fund. By enabling private finance to flow into the fund, MENA countries could leverage new sources of funding to address climate challenges, particularly in adaptation efforts.
4. Advancing adaptation strategies
Adaptation has often taken a backseat to mitigation in global climate discussions, but it is crucial for regions like MENA, where climate impacts are already being felt. COP29 is an opportunity to prioritise adaptation, with a focus on enhancing financial and technical support for National Adaptation Plans (NAPs).
These plans are essential for helping countries prepare for the effects of climate change, such as rising sea levels, extreme heat, and droughts.
In MENA, closing the adaptation finance gap will be key to ensuring that vulnerable populations are protected. Donor countries must meet their financial commitments, while innovative funding mechanisms, including private sector investments, should be explored. By scaling up adaptation efforts, MENA countries can build resilience to climate change and secure a more sustainable future.
What’s being neglected?
While the focus on climate finance is important, other critical issues risk being overlooked at COP29. One such issue is the phase-out of fossil fuel subsidies, which remain prevalent in many MENA countries.
These subsidies not only contribute to global emissions but also hinder the development of renewable energy markets. COP29 should push for a credible agreement to phase out these subsidies, with clear deadlines and action plans to track progress.
Another area that deserves more attention is debt relief and restructuring. Many developing countries in MENA are burdened by debt, limiting their ability to invest in climate action. Innovative solutions like debt-for-climate swaps could provide much-needed fiscal space for these countries to pursue climate projects without sacrificing financial stability.
As countries prepare to update their Nationally Determined Contributions (NDCs), delivering a meaningful outcome at COP29 is crucial to demonstrate real progress. Closing the climate finance gap, advancing strong adaptation strategies, and encouraging innovative, inclusive solutions are key steps that can position COP29 as a landmark for comprehensive climate action. The coming months will be central in shaping the future of global efforts to combat climate change.
