Birta Kristín Helgadóttir, director of Energy at EFLA, and Helga Jóhanna Bjarnadóttir, director of Community at EFLA and a representative on Iceland's Climate Council, participated in the COP29 conference in Baku, which was held from November 13th to 16th.
Broader and Better Understanding
Helga and Birta found their participation in COP29 in Azerbaijan highly insightful, providing a broader and better understanding of the extensive systemic changes needed globally to tackle the climate crisis. They noted that while the technology is known, it needs to be scaled up with public and private funding, ensuring that transitions are just. This experience will help us take firmer steps towards solutions for Icelandic society towards carbon neutrality.
Main Focuses of the Conference
This time, COP29's main focus was on financing climate actions. It highlighted key challenges and opportunities in climate issues, emphasizing innovation, equality, and international cooperation.
There were detailed discussions on financing the transition from fossil fuels to renewable energy and ensuring that available solutions are scaled up. Participants emphasized overcoming financing barriers, simplifying complex permitting processes, and working towards system changes required by energy transitions. The spotlight shone on hydrogen as an electrofuel, highlighting it as a key solution for the future.
The social aspect was also highlighted, as was ensuring transitions that considered all social groups' needs. The initiative emphasized supporting poorer countries with financial resources and technical assistance to help them adopt renewable energy. All stakeholders recognized collaboration and integration as crucial for success.
Cooperation and Just Transitions
The discussion highlighted renewable sources like wind and solar power for producing electrofuels, mainly hydrogen. Experts stressed the need for clear policy-making and developing flexible energy systems to ensure reliability.
The emphasis on financing climate action highlighted energy efficiency as a powerful solution to reduce emissions. Discussions called for coordinated financial plans and the development of transparent carbon markets to accelerate actions. Additionally, participants explored carbon taxes on emissions and the role of carbon sequestration through both technological and natural solutions.
Participants emphasized social support and equality, focusing on fair energy transitions for all societal groups. Discussions highlighted projects empowering women in the energy sector and enhancing community support.
Achieving this requires collaboration between stakeholders. Strong partnerships between private entities and public authorities in project financing were key to systemic changes.
Importance of Actions
The COP29 conferences feature three main areas: negotiation zones, where governments collaborate on international climate agreements; country pavilions, which host presentations and panel discussions, providing a platform for exchanging views between nations and stakeholders and accommodating 30-60 people for effective communication; and business areas, where companies showcase sustainability innovations and seek partnerships. The business areas are the only sections open to the public. Participants use these spaces to explore new developments and connect with networks advancing climate action.
The conference's central theme highlighted how all nations must unite to tackle significant tasks related to energy transition, limiting greenhouse gas emissions, and increasing sequestration efforts. It underscored that climate issues demand holistic solutions requiring significant cooperation combining technical solutions, financial strategies, and societal changes, ensuring a sustainable future and faster-targeted actions technically and with strong social component financing efforts.
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