Out of 193 countries, the Philippines placed first on the World Risk Index list, making it the most disaster-prone nation for three years. Not long after a typhoon lands here, severe floods sweep through poor neighborhoods to wipe out homes and take lives. And while the bayanihan spirit in Filipinos remains strong, we bear the worst of the impact despite contributing minimally to climate change.
Developing countries have yet to receive proper reparations and support for climate adaptation from rich nations driving this crisis. It is one among many urgent issues to follow at COP29, the 29th Conference of the Parties, where under UNFCCC (United Nations Framework Convention on Climate Change) guidelines, UN member states gather to review progress and strategize climate action.
All of us are accountable for climate change, as it is ultimately man-driven. Therefore, as COP29 comes next month, let’s tackle discussions about climate warming with a greater sense of priority.
What is COP29?
Picture the conference as a large assembly where global leaders plan strategies to prevent the Earth from experiencing abnormal weather patterns.
Scheduled for November 11 to December 22, 2024, in Baku, Azerbaijan, COP29's goal is to mitigate the effects of climate change. This entails the world’s average temperature should not exceed that of pre-industrial times by more than 1.5 degrees Celsius, demanding a drastic cut in emissions within a mere six-year period.
COP decisions also possess global authority. This means equal voting rights are granted to countries of all sizes, and consensus rules dictate that decisions are only made when everyone concurs.
As written on the COP29 website, "the Conference of the Parties is held annually, with the presidency rotating between the five recognized UN regions," which are Africa, Asia, Latin America and the Caribbean, Central and Eastern Europe, and Western Europe.
Meanwhile, the Philippines produced around 152.6 million tons of carbon dioxide from energy consumption in 2023, according to Statista. Notably, this figure was 91.9 million tons in 2013 — a massive increase within a decade. COP29 offers an opportunity “to enhance ambition and enable action” on climate warming.
At its core, COP29 seeks to "keep 1.5 degrees Celsius within reach" following the Paris Agreement's objectives on climate change, which is important for averting its grave consequences.
Loss and Damage Fund Board
The board serves as a climate fund facility for vulnerable countries, which require major investments in energy systems to reduce their carbon footprints. Rich nations, the largest emitters of greenhouse gases, are expected to commit to new financing goals that surpass the annual $100 billion they vowed to give 14 years ago.
Wealthy countries pledged $700 million last COP28 in Dubai, which covers a sliver of climate change loss and damage.
In turn, the UN has published a climate finance draft to tackle at the upcoming conference, revealing yet again conflicting positions between various countries, with COP29 President Mukhtar Babayev stating that "we now only have little time before COP29 begins, and Parties need to accelerate their engagement on this top negotiating priority to reach consensus."
Meanwhile, President Ferdinand “Bongbong” Marcos Jr. has passed the Loss and Damage Fund (LDF) Board Act or Republic Act 12019.
“To accelerate access to critical climate finance and investments for future-proofing the economy and ensuring sustainable and inclusive growth for all Filipinos, the State supports the hosting of the governing board of the fund in the Philippines,” the law read.
According to the Presidential Communications Office, the passage of the law "will also have legal capacity to negotiate, conclude, and enter into a hosting arrangement with the World Bank as interim trustee and host of the fund’s secretariat, and undertake activities as necessary for discharging its roles and functions."
As the governing body of the LDF, the board shall have juridical personality with full legal capacity to contract, acquire and dispose of immovable and movable property, and institute legal proceedings.
Having global leaders convene for climate efforts may look like hope, but with COP’s consistent all-talk, little-action approach, it’s ultimately up to us to bring positive change. Learning about the climate crisis can get overwhelming, but it’s a shared duty all of us must perform. Staying informed about climate change and its multifaceted effects on our lives allows us to demand accountability more effectively; paired with collective efforts, and this helps push the planet to reclaim its long-lost stability.