The conclusion of COP29 in Baku has left many with mixed emotions. A significant agreement was reached after two arduous weeks of negotiations, and we are proud to have been part of the team that pushed this forward.
The headline achievement was a commitment to triple funding for the most vulnerable countries, from $100 billion annually to $300 billion by 2035. This is undoubtedly a step forward; but it’s not enough.
The crux of the problem is that the international community is still avoiding the real elephant in the room. While the world may have rallied around adaptation, mitigation – the essential act of reducing emissions – remains a glaring void in the global collective response. Without ambitious mitigation, adaptation efforts alone will never be enough.
Malta has every reason to be proud of its role in the negotiations, particularly on adaptation. Representing the European Union alongside Austria, we helped secure a much-needed declaration on the global goal for adaptation.
This agreement sets the basis for measurable progress in helping nations build resilience against the impacts of climate change; climate-resilient food systems, health services, infrastructure, and ecosystem protection.
It is a necessary and urgent response to the challenges we are already facing.
However, adaptation is more of a survival mechanism than a solution per se. Without mitigation, the world will continue to warm, and the damage we’re trying to adapt to will become even more difficult to manage.
The tripling of annual funding for vulnerable countries is significant but raises the question on the source of such funding. Malta, among others, insisted that this fund must attract broader contributions, including access from private sources. We cannot rely solely on public financing, especially when the climate crisis affects every sector of our economy. The final agreed text calls for this allocation from a wide variety of sources, public and private, bilateral and multilateral, including alternative sources.
And while this funding is critical for adaptation, it does little to address the root cause of the problem: emissions. The $300 billion agreement is a lifeline. Meanwhile, the lack of global consensus on vital mitigation targets is frustrating.
As a small island state, Malta has always had to punch above its weight in international discussions, and COP29 was no exception. The establishment of Malta’s Climate Action Authority, the first of its kind in Europe, clearly demonstrates our leadership.
This innovative governance model unites government, private sector and civil society collectively to meet our 2050 decarbonisation goals but this cannot be done in isolation, as the climate goals cannot be reached by a couple of nations – it is one small link in a whole chain.
The international community is still avoiding the real elephant in the room
We’ve also taken bold steps in water efficiency and renewable energy. Our Gozo desalination plant, which uses 23.5 per cent less energy than traditional methods, and our advancements in water network efficiency are tangible examples of what climate action looks like. But Malta’s achievements are a drop in the ocean compared to the systemic change needed globally.
At COP29, certain countries showed leadership on adaptation and finance; however, there was a glaring absence of ambition when it comes to mitigating emissions. Mitigation efforts have fallen significantly short of the ambitious goals set and the commitments made.
This stands in stark contrast to the landmark agreement reached at last year’s COP 28 in Dubai, which charted a path towards a “transition away” from fossil fuels. The absence of consensus to enhance and implement the framework established in the United Arab Emirates risks steering us away from this critical direction.
COP29 was a step forward, but the road ahead is still a long one. If we’ve learnt anything from these negotiations, it’s that unity is both our greatest strength and our greatest challenge.
Malta will continue doing its utmost to lead by example. We need every country, every corporation, every individual to understand that the fight against climate change is a fight that involves everyone. Adaptation and finance are crucial but bold action is required.
As we look forward to COP30 in Brazil, we have to remain hopeful and determined. The world needs ambition and action as the time for half measures is evidently over.
Miriam Dalli is Minister for the Environment, Energy, and the Regeneration of the Grand Harbour. Abigail Cutajar is chief executive officer, Climate Action Authority.