COP29, the United Nations climate summit, was held in Baku, Azerbaijan, from 11 to 22 November 2024.
COP is the world’s largest and most important climate summit. Each year, it brings together representatives of governments from around the world to negotiate fair and equitable climate change solutions and track our progress against agreed goals. It’s the annual moment where leaders spanning business, civil society, academia, First Nations convene, share progress, and take collective action for a safer climate.
The Australian Pavilion
The Australian Pavilion at COP29 was a home-away-from-home for Australians in Baku. A place to build and strengthen our international partnerships, showcase Australia’s progress, highlight our businesses and advance our priorities in the negotiations.
We held 52 events at our Pavilion. Thousands of people watched our diverse presentations, events and panel discussions. From networking sessions with global industry leaders, to youth led events that build our future engagement in the UNFCCC.
You can watch all the events and panel discussions over on our YouTube Channel.
The Negotiating Agenda
Beyond the Australian Pavilion, our official delegation represented our country in critical international negotiations.
A key focus for COP29 was finance. The summit brought together nearly 200 countries to reach an agreement.
Nations agreed to a new collective quantified goal on climate finance. The new goal will mobilise USD $300 billion per year by 2035 to support developing countries respond to climate change.
The goal also includes a call to secure at least US $1.3 trillion from different sources to support climate action in developing countries.
Australia’s international climate leadership
Australia and UK also negotiated a new climate and energy partnership. The partnership outlines our commitment to work together to create cleaner energy and jobs in both countries. As well as our ambition to play significant roles in the global clean energy transition.
Australia made a number of announcements at COP29 in support of the people, livelihoods and ecosystems in our region. We are:
- Partnering with Pacific nations to improve energy security and scaling up energy grid transition. We are investing $125 million in Pacific renewable energy.
- Supporting Pacific countries build more resilient and equitable public health systems. We are committing $2.5 million in the Pacific Climate and Health Resilience Package.
- Supporting vulnerable countries and people impacted by the climate crisis. We are contributing $50 million to the Fund for Responding to Loss and Damage.
- Boosting the efforts of climate-focused businesses across Southeast Asia, South Asia and the Pacific. We are investing $126 million in the Climate Catalyst Window.
- Guaranteeing up to USD $200 million in loans through the Asian Development Bank’s Innovative Finance Facility for Climate in Asia and the Pacific.
Australia also joined several initiatives as part of the COP29 Action Agenda. These initiatives bring countries together to progress key climate priorities. Australia signed up to the:
- COP29 Hydrogen Declaration
- COP29 Global Energy Storage and Grids Pledge
- Call to Action for No New Coal in national climate plans
- Clean Energy Finance Mission under the Global Clean Power Alliance (GCPA).
Australia is well placed to help lead the global net zero transformation. By negotiating with other countries at events such as COP29, we can harness Australia’s abundant natural resources, skilled workforce and strong trading relationships to significantly reduce global emissions.
This will help us play our part in the ‘big switch’ to renewable energy, which leads to new industries, jobs and opportunities for Australia.