From New York to Baku: Key takeaways from UNGA/NYCW and implications heading into COP29 

A central theme was the urgent need to reform the UN into a more inclusive, representative and just multilateral system.  The recently adopted Pact for the Future, from the Summit of the Future, pushed for new approaches for global cooperation, from Security Council reform to engaging with AI to strengthening international financial systems. On climate, while the Pact broke little new ground, it reaffirmed critical commitments, including upholding the COP28 UAE consensus, pledging to update nationally determined contributions (NDCs) in line with 1.5°C and promoting international cooperation to boost NDC ambition. The process highlighted both the challenges of forging consensus and that the majority of nations remain committed to multilateralism, a dynamic likely to be present at COP29.  

While several leaders integrated climate into their speeches, many did not address the key near-term needs ahead of COP29, including political ambition around financing, delivering new climate plans by February 2025, and providing unified and coherent messaging. That is not to say that climate was not a feature of the week.  The UN Secretary General, UK, Brazil, Azerbaijan and several developing countries, all emphasized climate action as a priority requiring cooperation. Prime Minister Starmer demonstrated the UK’s return to global climate leadership by recommitting to submit the UK’s NDC by COP29 and a host of pledges to mobilize international finance for climate. President Biden highlighted interconnections between climate, domestic action, and global security. Samoa, as AOSIS Chair, gave an impassioned plea for global cooperation to limit warming to 1.5^oC in order to avoid existential threats to Small Island Developing States (SIDs).

In addition to the UK, Brazil also recommitted to submit it NDC ahead of the February deadline, and Azerbaijan, as COP Presidency, noted it is working on a 1.5^oC aligned NDC and leaned into the importance of COP29 and the New Collective Quantified Goal (NCQG) to be agreed in Baku. But there was not the groundswell of messaging and commitment to drive climate action into COP29, and some countries nearly failed to raise it at all.  

Meanwhile, the need to strengthen and sharpen the international financial system continued to grow, driven by the Pact as well as from multilateral development banks themselves, Bridgetown 3.0 proposals on debt, and the International Development Association replenishment. These will be critical at the World Bank and IMF Annual Meetings but are also part of a larger discussion about financing climate needs. Delicate negotiations continue on the expected NCQG and despite being top of minds for many last week, no clear consensus emerged on landing zones and the path forward. Meanwhile, the finance sector was in overdrive organising a plethora of NYCW events discussing the role of the private sector, and of public-private partnership, in financing the climate transition as well as nature restoration. 

Global mitigation commitments agreed at COP28 were reiterated in the Pact for the Future, but not without challenges. “Transition away from fossil fuels” language remained among the most contentious subject of the Pact for the Future and UNGA discussions, as some countries – including the oil-producing Troika, Russia, Saudi Arabia and others pushing against retaining the COP28 language. The Troika faced continued pressure among external actors as they increase fossil fuel production while publicly stating they will submit 1.5^oC aligned NDCs, and clear signals ensuring progress on delivery of those global targets were missing. In contrast, Ban Ki-Moon called for an Ending Fossil Fuel Treaty.

Meanwhile adaptation to climate change and resilience gained increased political attention with many countries, highlighting the importance of building resilience through sustainable development and nature-based solutions for local and global security, including to protect health and food systems. The week began with the UNGA High Level Meeting to Address Existential Threats posed by Sea Level Rise and the publication of the AOSIS Leaders Declaration on Sea Level Rise and Statehood which emphasized that, in line with international law, nations will maintain their statehood, sovereignty, and membership in the UN, regardless of the impacts of sea level rise. Moreover, during a High Level Roundtable on Scaling Adaptation Finance and Action at COP29, over 10 global leaders including ministers and climate envoys from around the world came together to discuss how to make significant progress for adaptation at COP29 and beyond. During the round table, leaders found convergence around the need for increased and enhanced finance and planning for climate impacts, including the need for Early Warnings for All and simplified finance access procedures.  

New York Climate Week – the largest yet – saw a surge of climate discussions echoing themes in the UN General Debate, like accelerated financing, financial system reform, ending fossil fuel use, and increasing adaptation and resilience. However, warnings about competing – and proliferating – global challenges, straining budgets and compressed foreign aid were also acknowledged. Incorporating geopolitics into implications for competitiveness, national interests, and intersections with economic and industrial policies, critical minerals, and supply chains were recognized as important for effective climate narratives, strategies, and responses going forward.