COP29 in Baku: A Defining Moment for Climate Change Commitments

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COP29 in Baku: A Defining Moment for Climate Change Commitments

Climate experts and the international community are eagerly anticipating a major global event scheduled to take place in Baku, Azerbaijan, in November 2024. This gathering, part of the annual Conference of the Parties (COP) under the U.N. Framework Convention on Climate Change, will be the largest event Azerbaijan has ever hosted. It holds particular importance for the Central Asia and South Caucasus regions.

Known as COP29, the summit is set to be a key platform for world leaders, public officials, scientists, NGOs, and other stakeholders to discuss and negotiate various climate change-related issues. A central focus of the COP agenda will be the goal of limiting global warming to 1.5 degrees Celsius (2.8 degrees Fahrenheit) above pre-industrial levels, as outlined in the Paris Agreement. Achieving this target requires substantial reductions in carbon dioxide emissions, aiming for a 43% decrease by 2030 compared to 2019 levels. The previous COP28 conference in Dubai emphasized the urgent need to reduce reliance on fossil fuels and sharply cut emissions to meet the 1.5-degree target, although it stopped short of calling for a full phase-out of fossil fuels.

Climate change commitments 

The challenge of addressing climate change is more demanding than it often seems. Reaching the critical goal of limiting global warming to 1.5 degrees Celsius above pre-industrial levels will require drastic emissions cuts, along with transformative changes in consumer behavior, corporate strategies, and investment patterns. While developing nations need financial support to transition to sustainable energy systems, major fossil fuel companies require incentives to adopt sustainable practices. Governments must also prioritize environmental protection over investor interests. It’s estimated that $8 trillion will be needed to invest in energy efficiency and renewable energy to meet the 1.5-degree target, and by 2050, fossil fuel trade is expected to drop by 80% from 2020 levels.

A significant obstacle to progress is the influence of fossil fuel lobbying, which spends over $500 million annually in the U.S. to block policies aimed at reducing carbon emissions. However, the 2024 U.N. Climate Change Conference (COP29) offers a chance for countries to commit to new actions and practical solutions to the climate crisis, advancing the goals of the Paris Agreement and accelerating climate action. Developing countries, in particular, will need financial and other forms of assistance to mitigate the effects of climate change and reduce global carbon emissions. Discussions around financial aid from wealthier nations to help developing countries adapt to climate change are expected to be a key focus of the summit.

Global event experience  

Azerbaijan has established itself as a capable host of international events, having successfully organized major gatherings such as the International Astronautical Congress, the European Games, various international sports competitions, and the Eurovision Song Contest. The country also hosted prestigious conferences in Baku during its four-year presidency of the Non-Aligned Movement, the second-largest international organization after the U.N. However, the upcoming COP29 climate summit surpasses all previous events in both scale and importance. With a large number of participants expected, Baku will become a global focal point for two weeks, highlighting Azerbaijan's strong tradition of multilateral diplomacy.

The Hidden Climate Toll of AI: What Tech Companies Aren't Revealing

Tech giants like Google, OpenAI, and various startups are investing billions into platforms that generate business communications, legal documents, jokes, short stories, and more in seconds. While these tools can be entertaining and efficient, the specialized processors they rely on at data centers consume significant amounts of electricity and water—although companies are not transparent about the exact figures.

According to the Los Angeles Times, queries made through ChatGPT may use at least ten times more electricity than a typical Google search. If every Google search employed generative AI, the energy consumption could rival that of a country like Ireland, based on estimates from Alex de Vries, founder of Digiconomist. Furthermore, research from Shaolei Ren, an associate professor at UC Riverside, suggests that just ten ChatGPT queries could use as much water as a 16-ounce bottle.

DeVries cautions that even if AI is powered by renewable energy, it remains a finite resource, leading to increased reliance on fossil fuels elsewhere, ultimately causing higher carbon emissions.

Ren emphasizes the need for greater transparency about the power and water demands of AI platforms, noting that developers are often secretive about their resource consumption. He advocates for clearer disclosure of these impacts on AI sites.

Africa’s Untapped Climate-Tech Market: The Key to Global Sustainability

Africa has the potential to become the fastest-growing hub for climate-tech and the first continent to develop in harmony with the environment, according to Joshua Romisher, CEO and head of portfolio at the climate-focused investment firm Holocene. 

Delivering the keynote speech at the AfricArena Nairobi Summit: Africa Climate Tech Week, Romisher emphasized Africa's significant role in global climate discussions. He highlighted how technology can offer a unique developmental model that integrates environmental sustainability.

In an interview with ITWeb Africa, Romisher stated that the world is beginning to recognize the urgency of working on climate solutions. However, he pointed out that Africa, despite its rapid growth prospects, receives less than 1% of global venture capital. He argued that the continent must explore new growth and consumption models, distinct from those in the global north.

Romisher believes Africa has a unique opportunity to be the first continent to grow in harmony with the climate, calling it "an amazing opportunity." He expressed optimism about the potential for climate-driven innovations in Africa, noting that 50% of the world's renewable energy capacity is located on the continent, with vast deserts and wind resources that remain largely untapped.

He also emphasized that technology can act as a great equalizer, unlocking new data on biodiversity. According to Romisher, Africa has the chance to create an entirely new development model, one that balances growth with environmental sustainability, but this will require significant innovation, collaboration, and bold thinking.

Romisher is one of many investors at the summit meeting with African start-ups focused on climate tech and the green economy. The event will feature pitches from a range of African start-ups, including Aquarech, Gene Plus Global, RHEA Soil Health, iShamba Limited, eAgro, Stable Foods, Maua Mazuri, Loowatt, Monsapo, Cinch, Africa Collect Textiles, Gjenge, Knights & Apps, Bottle Logistics, Alternative Energy, Lean Energy Solutions, and Ekotech.

Additionally, six Korean start-ups, in partnership with the Korea-Africa Foundation, will present their solutions to investors at the conference. These companies include Beyond Captur, Thanks Carbon, EcoLinks, BlueGold, Solarinno, and TRCK Energy.

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The climate.online Team