As COP29 begins, Canada must stand up for a fair climate finance deal, with the Paris Agreement goals at stake

Baku, Azerbaijan, 11 November 2024:

As COP29 kicks off today in Baku, the need for climate multilateralism is greater – and more at risk – than ever. A new policy brief released today from Climate Action Network Canada sets out priorities and expectations for Canada’s role in the international climate negotiations.

“The challenges this COP faces are clear: a deeply concerning U.S. election outcome, the broken trust between North and South, and the gap between current actions and what’s needed for a safer world,” said Caroline Brouillette, Executive Director of Climate Action Network Canada (CAN-Rac). “But it’s also clear to us that Canada has an opportunity for leadership, to help build bridges and coalitions for a fair and ambitious outcome that keeps the Paris Agreement alive. The question is, will it seize it?

“COPs are moments when the international spotlight shines on the host country. Therefore, it is important that Canada shows up to COP29, not only to negotiate an ambitious climate finance goal which millions of lives depend on, but to advocate, with humility, for human rights and to uplift local and marginalized voices and ensure they are heard on the international stage. There is no climate justice without civil society.”

The key issue at the heart of this COP is the New Collective Quantified Goal (NCQG) on climate finance—the debt the Global North owes Global South countries, who are facing the worst effects of the climate crisis but have done the least to contribute to it. This goal will replace the USD $100 billion goal agreed in 2009, which Canada and Germany helped corral countries to meet in 2022, and which has long been considered inadequate to meet the needs of Global South countries.

On climate finance:

“As a Global North country, among the world’s biggest polluters and producers of fossil fuels, Canada holds the responsibility to pay up its fair share of climate finance and to help bridge divisive issues between Global North and South positions,” added Soomin Han, Climate Finance Policy Analyst. “Climate finance is not a matter of charity–it’s an obligation, essential to achieve the Paris Agreement goals, and a tide that lifts all boats. The money is there: it’s only the political will that’s missing.”

CAN-Rac is asking Canada to advocate for three key points in NCQG negotiations: a public provision quantum of at least $1 trillion USD annually in grants and grant-equivalent terms; subgoals to address the historic imbalance between mitigation, adaptation, and loss and damage; and ensuring that the discussion around who pays for international climate finance does not derail progress.

On subnational leadership:

“Quebec’s leadership as the co-chair of the Beyond Oil and Gas Alliance (BOGA) represents a critical opportunity to advance a just transition away from fossil fuels across Canada and mobilize other provinces and territories to join the alliance,” said Leïla Cantave, Quebec Lead. “It shows that provinces and territories can be enablers of climate action, and not just blockers. The engagement of other Canadian subnational governments in BOGA would foster a better context for robust federal climate policy and advance a whole-of-society approach to implementing the Global Stocktake outcome on transitioning away from fossil fuels.”

On the U.S. election outcome:

“Fossil fuel driven-climate change has increased the frequency and intensity of wildfires, floods, and heatwaves,” said Caroline Brouillette. “These unnatural disasters – in Canada and across the world – won’t stop just because there is a climate denier in the White House. The global transformation towards a clean energy economy is already underway. Trump turning his back on it will only penalize American workers and communities, and there will be Canadian jurisdictions to pick up the clean energy investments leaving the United States. While Trump’s election and promise to exit the Paris Agreement is an undeniable step backwards, climate multilateralism remains in every nation’s self-interest and the most effective path to global climate action.”

After Trump’s first election in 2016, Canada joined with the European Union and China to form the Ministerial on Climate Action as a new avenue to promote climate cooperation. CAN-Rac urges Canada to maintain that spirit of collaboration and leadership, especially as it steps into its role of G7 President for 2025.

Climate Action Network Canada will be on the ground in Baku, following negotiations closely and available for comment throughout COP29. Public events include:

• Monday, November 11, 12:30 p.m. AZT, Canada Pavilion – Canada at COP29: A Conversation with Civil Society, with Environment and Climate Change Minister Steven Guilbeault and Caroline Brouillette. This event will not be livestreamed, but a recording will be uploaded to the CAN-Rac Youtube channel.
• Friday, November 15, 6:30 p.m. AZT, Canada Pavilion – Accelerating the energy transition in North America: what role for subnational states?, in collaboration with the David Suzuki Foundation, International Institute for Sustainable Development, Climate Reality Canada, California Natural Resources and the Government of Quebec. In-person only.
• Thursday, November 21, 4:00 p.m. AZT / 7 a.m. EST – Joint press conference with Indigenous Climate Action on decolonizing climate policy. This event will be live-streamed through the UNFCCC portal; further details to follow.

CAN-Rac resources:

• COP29 Policy Brief
• Paving the Way for an Equitable Future: Recommendations for Canada’s next NDC
• Pre-COP media briefing

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