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The Bonn Climate Change Conference concluded on June 13, 2024

The Bonn Climate Change Conference, which took place from June 3 to June 13, 2024, marked a crucial mid-way point in the lead-up to the UN Climate Change Conference (COP29) scheduled for November in Baku, Azerbaijan. During these two weeks of intensive work, progress was made on several fronts, although challenges remain.

Here are some key areas of progress from the Bonn Conference:

Climate Finance: Parties streamlined content for the New Collective Quantified Goal on Climate Finance (NCQG). The goal is to ensure ambitious, transparent reporting and improved quality of climate finance to support developing countries. Clear options and a substantive framework for a draft decision must be finalized before COP29.

Adaptation Indicators: Steps were taken towards developing forward-looking, effective, and scientifically sound adaptation indicators. These indicators are essential for assessing and enhancing resilience to climate impacts.

International Carbon Market: Progress was made towards a better-functioning international carbon market. However, further work remains to be done in this area.

Transparency and Climate Action Plans: Parties collaborated on transparency measures and supported each other in planning stronger climate action. Transparency is crucial for tracking progress and ensuring accountability.

UN Climate Change Executive Secretary Simon Stiell emphasized the need for continued efforts, especially regarding climate finance. He highlighted that advanced economies, including G7 nations, have multiple levers to pull, including their roles as shareholders in development banks12. Let’s hope that these collective efforts lead to ambitious outcomes at COP29.

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The Co-Chairs have invited Parties to share their consolidated and updated views on the National Communications and Quantified Goals (NCQG). This input will be used to create a new paper with options for the eleventh session of the Technical Expert Dialogue (TED11) and the third meeting of the ad-hoc work program, both scheduled for October. Additionally, a high-level ministerial dialogue on the NCQG will also take place in October, aiming to pave the way for outcomes at COP29.

At COP28 in the United Arab Emirates, Parties agreed on measures for the Global Goal on Adaptation, which established thematic targets emphasizing forward-looking global priorities.

During the June UN Climate Meetings, Parties made progress on indicators related to these thematic targets. These indicators will be inclusive, transparent, and scientifically sound. The focus is on decision-making regarding indicators and technical work.

As part of the Global Stocktake outcome, UN Climate Change urges Parties to develop National Adaptation Plans (NAPs) by the end of 2025 and make progress in implementing them by 2030.

Currently, only 58 developing countries have submitted NAPs. The secretariat encourages more countries to have a plan by 2025 and work towards implementation. UN Climate Change will collaborate directly with countries through its Regional Collaboration Centres to accelerate NAP formulation in the coming months. 

During recent discussions, delegates made significant progress regarding key technical aspects of Article 6 of the Paris Agreement. Let’s delve into the details:

Carbon Credit Authorization: Delegates clarified positions on Article 6.2 and 6.4 in constructive discussions held in Bonn. These provisions allow countries to voluntarily cooperate in achieving emission reduction targets by transferring carbon credits earned from GHG reduction efforts.

Workshop and Preparation: Ahead of COP29, delegates agreed to hold a workshop to further advance technical work related to Article 6.2 and 6.4. This preparation will enable them to meet in Baku with a better understanding and readiness to finalize outcomes that enhance carbon markets.

Additional Work on Article 6.4: In the lead-up to COP29, the UN Body responsible for operationalizing the global carbon market will meet twice to finalize recommendations on methodologies and emission removals under Article 6.4. Feedback from Parties and stakeholders gathered during the June Climate Meetings will inform these recommendations.

Sustainable Development Tool: The Supervisory Body aims to finalize a Sustainable Development Tool before COP29, which will establish environmental and social safeguards.

Unlocking Funding: Completing the remaining elements of Article 6 in Baku will unlock additional funding for national climate plans and adaptation efforts

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