COP29

18 Mar

Question

COP29

The House of Commons held a question session focused on the outcomes and commitments from COP29. The discussion primarily revolved around the adequacy of the COP29 agreement, the measures to monitor and achieve the UK's climate targets, and how to enhance the financial assistance provided to developing nations in addressing climate change.

Harpreet Uppal initiated the questions by inquiring about the sufficiency of the COP29 agreements. The session outlined notable achievements, including the setting of a new climate finance goal and advancements in international carbon market guidelines. However, there was also an acknowledgment of the missed opportunities in areas such as mitigation. The importance of preparedness for COP30 in Belém was emphasized.

$300 billion annually by 2035

Financial commitment by COP29 to increase climate aid to developing countries.

The questions and discourse further delved into specific areas, such as tracking the UK's progress against COP commitments and working with multiple sectors to drive investment and implementation. The discussion underscored the need for national credibility through domestic delivery, leading to international leadership. Kerry McCarthy promised a comprehensive climate plan and active stakeholder engagement.

$100 billion

Previous climate finance goal before the upgrade as per COP29 agreements.

Jim Shannon raised questions concerning the ambitious COP29 commitment to enhance climate finance for developing countries up to $300 billion annually by 2035. Clarifications were made regarding the UK's dedication to international climate finance, with pointers on future spending reviews to determine the national contribution and explore private sector investment.

Overall, the session reflected the UK's proactive approach toward climate issues while identifying gaps that need addressing to meet international commitments adequately.

Outcome

The discussion clarified the UK’s active involvement and strategy in addressing and fulfilling COP29 commitments while acknowledging areas that require further progress. The results suggested stronger national policies, enhanced international leadership, and increased financial contributions to global climate efforts. The expectations for COP30 were set high, with a focus on leading the change and maximizing investments.

Key Contributions

Harpreet Uppal

Labour

Questioned the adequacy of COP29 agreements, emphasizing the importance of tackling climate change for everyone.

Kerry McCarthy

Raised the importance of delivering domestic climate targets to earn credibility internationally.

Jim Shannon

DUP

Inquired about the reassessment of financial commitments towards developing countries at COP29 and the UK's share in this initiative by 2035.

Kerry McCarthy

Stressed UK's commitment to international climate finance and indicated future spending reviews to determine contributions.

Original Transcript

Harpreet Uppal

Huddersfield

Lab

Question

UIN: 903236

8. What assessment he has made of the adequacy of the COP29 agreement.

The Parliamentary Under-Secretary of State for Energy Security and Net Zero

Kerry McCarthy

I thank my hon. Friend for her continued interest in this issue. Despite significant challenges, COP29 agreed a new climate finance goal and finalised guidance on international carbon markets. We would have liked more progress in certain areas, such as on mitigation outcomes.

We look forward to playing an important role in the run-up to COP30 in Belém, to ensure that more progress is made.

Harpreet Uppal

Tackling climate change should matter to all of us because it affects all of us. At COP29, the UK led the way on setting strong climate targets. How is the Minister ensuring that measures are in place to track progress against our COP commitments?

How is she working with businesses, local authorities and industry to deliver on those targets and drive investment?

Kerry McCarthy

12:04

My hon. Friend is right: we earn the credibility that enables us to show international leadership by delivering at home.

In due course we will publish a cross-economy plan for meeting our climate targets, which will outline the policies that are needed to meet our 2035 nationally determined contribution, and we are engaging with a range of stakeholders on delivery through, for instance, the Net Zero Council, which has a very busy work programme, and the local net zero delivery group.

Jim Shannon

Strangford

DUP

What assessment has the Minister made of the COP29 commitment to tripling finance for developing countries from the previous goal of $100 billion to $300 billion a year by 2035, and what is the United Kingdom’s contribution to that sum?

Kerry McCarthy

12:04

It is always a pleasure to answer questions from the hon. Member. We remain committed to international climate finance, and to the new climate finance goal agreed at COP29.

The level of the UK’s contribution will be considered in the spending review, when we will also consider how we can maximise investment from the private sector.

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