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EMISSIONS: Trump Win May Weigh on COP29 Progress

EMISSIONS

BNEF forecasts progress in global energy storage and grid targets and in the resolution of the outstanding Article 6.2 issues is likely at the upcoming COP29, while progress is seen unlikely in the areas of 1.5C alignment, the issuance of the first set of NDC 3.0, a deal on a quantitative target and a resolution on the outstanding article 6.4 issues, it said. 

  • Progress is seen at five out of ten on the same fossil-fuel pledge and a deal on providers and recipients.
  • Prior to Trump’s victory, BNEF forecasted COP29 scoring 6 out of 10 on nine key areas where progress is needed. This has been reduced to 5 out of 10. 
  • Large economies are preoccupied with domestic politics, while the EU and other nations face budget constraints and the US with newly elected President Trump is seen reluctant to tackle climate issues which could be limiting progress at the next COP meeting according to BNEF.

     

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