As the world convenes for COP29, the urgency for tangible climate action has never been more pressing. This global platform provides a critical moment for leaders to convene and demonstrate their collective commitment to climate action. As COP29 President Mukhtar Babayev puts it, “We are on a road to ruin,” he told delegates, “whether you see them or not, people are suffering in the shadows. They are dying in the dark and they need more than compassion, more than prayers and paperwork. They are crying out for leadership and action. COP29 is the unmissable moment that can chart a new path forward for everyone.”
While previous COP conferences have been instrumental in raising awareness and fostering dialogue, COP29 must be different. It must be the turning point where commitments are transformed into concrete actions, with a significant focus on mobilizing climate finance. This financial support is crucial for countries, especially developing ones like Ghana, to implement effective adaptation and mitigation strategies, invest in sustainable technologies, and build resilience against the impacts of climate change. This makes the theme for this year’s COP, “climate finance,” apt and timely.
Although notable progress has been made on structure, access features, transparency arrangements, and timeframe, there are still remaining differences on contributors and the size of the final goal. Developing countries at this year’s COP are calling for a clearer definition of what climate finance is, as well as the nature of the assistance. For Mia Mottley and other climate-distressed nations, a combination of grants and levies rather than loans from rich to poor countries, and a rearrangement of the global financial system to free up financial flows to nations at risk from atmospheric temperatures going over 1.5°C, is what is needed.
For President Akufo-Addo, such support is crucial from developed countries to accelerate the transition to green energy. There is enough evidence that climate change is having an impact on Ghana, hitting the poorest and most vulnerable the hardest.
Ghana cannot tackle these challenges alone. International support and cooperation are essential. Developed countries must fulfill their commitments to provide financial and technical assistance to developing nations. As such, COP29 represents a pivotal moment for Ghana and the global community. It presents an opportunity to move beyond dialogue and take bold, decisive actions to combat climate change. The time for action is now, and COP29 must be the catalyst for this transformation.
