The Climate Justice Alliance-Bangladesh, a coalition of 42 civil society organizations (CSOs) and development partners, held a press briefing today at the National Press Club in Dhaka. The event aimed to critically analyze the outcomes of the recently concluded COP29 in light of the expectations set before the conference.
Speakers at the event examined the major achievements of COP29, including the adoption of the New Collective Quantified Goal (NCQG), which targets $300 billion annually by 2035 with an aspirational goal of reaching $1.3 trillion. While the agreements represent progress, they were criticized for being vague and insufficiently ambitious.
A notable achievement of COP29 was the finalization of rules for carbon trading under Article 6 of the Paris Agreement, making the global carbon market fully operational. The regulations for international carbon trading under Article 6.2 and a centralized carbon market under Article 6.4 were finalized. However, concerns were raised about flaws in the accountability mechanisms and the overall complexity of the framework. Additionally, the conference introduced the Baku Adaptation Roadmap and the Baku High-Level Dialogue to advance the Paris Agreement’s goals and support the UAE’s framework for meeting the Global Goal on Adaptation (GGA).
Key Points Raised by Speakers
Md. Shamsuddoha, Chief Executive of CPRD, emphasized the inadequacy of the NCQG. He stated:
“The NCQG target of $300 billion by 2035 is far below what is needed, and the timeline is too distant. Furthermore, there is no clarity on whether the finance will be in the form of grants or loans, nor on the sources of these funds. The inclusion of all actors to achieve the $1.3 trillion target by 2035 avoids placing responsibility squarely on developed countries. Promoting the private sector as a major contributor to climate finance risks over-reliance on profit-oriented instruments, such as loans, which undermines climate justice.”
He also criticized the promotion of neoliberal financial instruments, such as first-loss instruments, guarantees, and local currency financing, which disproportionately favor developed countries and conflict with the principles of climate justice.
Shamsuddoha noted that the global community failed to reach a consensus on implementing the conclusions of last year’s global stocktake, which was critical for transitioning away from fossil fuels. This decision has been deferred to COP30 in Brazil, despite its urgency for meeting the 1.5°C target.
Md. Ziaul Haque, Director of Air Quality Management at Bangladesh’s Department of Environment, expressed disappointment over COP29’s failure to align its decisions with the 1.5°C goal. He stated:
“COP29 missed an opportunity to ensure alignment with the 1.5°C target through its guidance on NDC updates. While it finalized standards for a centralized carbon market, it did not establish an accountability mechanism.”
He also acknowledged the importance of unifying Bangladesh’s position on climate negotiations by engaging CSOs, NGOs, academics, and other stakeholders, and he thanked CPRD for amplifying the collective voice for climate justice.
Dr. Suborna Barua, a professor at Dhaka University, criticized the developed countries for their “loophole game” in climate finance. He argued that:
“Section 8(c) of the NCQG text formalizes financial flows through multilateral development banks (MDBs), reducing the space for developing countries to advocate for grants-based climate finance in future COPs.”
Manish Kumar Agrawal, Country Director of Concern Worldwide, highlighted concerns over adaptation financing. He said:
“The COP29 decision to set indicators for enabling adaptation actions, including Means of Implementation (MOI), provides developed countries with an avenue to impose conditions related to transparency and governance on adaptation finance. This could hinder meaningful progress in adaptation efforts.”
Structural Inequalities in COP Decision-Making
Shamsuddoha also criticized the COP presidency’s practice of pushing last-minute decisions for endorsement by parties, a trend evident since COP15 in 2009. This approach limits effective negotiation by developing countries and reflects what he described as a “colonial mindset” of developed nations. The NCQG decision, in particular, was finalized in a manner that disregarded the voices of the Global South.
The Event
The press briefing, titled “COP29 Outcomes: North-Persuaded Neoliberal Policy Instruments Failed Climate Justice,” was organized by the Climate Justice Alliance-Bangladesh, led by the Center for Participatory Research and Development (CPRD), at the Tofazzal Hossain Manik Mia Auditorium, National Press Club, Dhaka.
Speakers included Md. Ziaul Haque, Manish Kumar Agrawal, Dr. Suborna Barua, and journalist Shamsuddin Illius. Representatives from various civil society organizations participated and contributed to the discussions.
The event was moderated by Md. Shamsuddoha, who provided an overview of COP29’s key outcomes. A joint presentation on the outcomes was delivered by Sheikh Nur Ataya Rabbi, Assistant Manager for Research and Advocacy at CPRD, and Shanjia Shams, Research Officer for Gender and Human Rights at CPRD.
