Distinguished guests
Dr Crispian Olver- Executive Director, Presidential Climate Commission (PCC)
Mr Alex McNamara - Head of Environment, National Business Initiative (NBI)
Good morning

I feel honoured to deliver these opening remarks at our National Stakeholder Consultations for the UNFCCC’s CoP29, which will be held in Baku, Azerbaijan, from the 11th to the 22nd of November 2024.

Your presence here today underscores our shared commitment to shaping South Africa’s negotiating position as we approach this critical juncture in global climate action. We greatly value the insights and contributions of all stakeholders — from government, industry, business, and labour, to non-governmental organisations, community-based organisations, and our academic and research communities. Each of you brings an invaluable perspective as we align our national climate actions with global ambitions, and as we prepare for CoP29, your active participation today is essential.

Ladies and gentlemen,

COP28 marked a pivotal moment in international climate diplomacy, as we transitioned from negotiating the Paris Agreement to implementing its commitments. Monumental achievements included the conclusion of the first global stocktake, the activation of funding arrangements to address loss and damage—with the establishment of a dedicated fund under the UNFCCC—and the setting of targets for the Global Goal on Adaptation.

As we look ahead to CoP29, we recognise that we are approaching another decisive milestone. This conference presents one of the final opportunities for countries to signal their intentions for new and enhanced Nationally Determined Contributions (NDCs) ahead of the 2025 deadline for the second NDC cycle. These plans will determine whether we collectively fulfil the ambitions set out in the Paris Agreement. Therefore, CoP29 must build consensus, drive momentum, and ensure that every nation is on a sustainable path toward a net-zero economy.

The incoming CoP29 Presidency has set ambitious priorities. A two-day summit at the start of the conference will bring together global leaders to raise awareness and accelerate climate action. Beyond the summit, the Presidency is finalising the New Collective Quantified Goal on Finance (NCQG), a matter of great importance for developing economies like ours.

Moreover, there is a pressing need for large-scale financial support to enable developing economy nations to meet their climate targets and progress toward sustainable, low-carbon development. The current financing mechanisms have proven insufficient in scale and effectiveness, highlighting the urgency for a new financing model. CoP29 presents an opportunity to advocate for innovative and improved financial frameworks that can mobilise substantial resources more efficiently. Such a model must ensure predictable, accessible, and adequate funding, and address the shortcomings of existing systems and empowering countries like South Africa to implement ambitious climate actions.

CoP29 will in addition aim to resolve outstanding issues under Article 6 of the Paris Agreement. Finalising the operational details of both market-based and non-market-based mechanisms will be crucial. These cooperative frameworks are vital not only for reducing emissions globally but also for fostering international collaboration that can spur innovation and help developing economy countries achieve their climate objectives.

By establishing transparent and robust mechanisms under Article 6, we can enable countries to work together more effectively. This cooperation will facilitate technology transfer, attract additional finance, and support sustainable development initiatives. For South Africa and other developing nations, resolving these issues is essential to unlocking new opportunities for climate action, enhancing our capacities, and accelerating progress toward our NDCs.

Ladies and gentlemen,

It is furthermore crucial that CoP29 accelerates the application of financial, technical, and capacity-building resources that will enable developing countries to meet the conditional targets outlined in their NDCs and National Adaptation Plans (NAPs). For South Africa and other developing economies, these resources are instrumental in our efforts to mitigate climate risks, enhance resilience, and pursue inclusive, sustainable development.

The new collective quantified goal on finance must provide a clear and ambitious quantification of the financial support needed by developing economy countries to implement their climate commitments and development plans — including NDCs, NAPs, low-emission development strategies, and other relevant policy frameworks, as well as key multilateral goals endorsed since Glasgow. This goal should also reflect inclusive just transition pathways, aligned with each country's nationally determined socio-economic development priorities.

Access to finance must be significantly scaled up to offer new, additional, and predictable funding that is fit for purpose. Specifically, we need grants and highly concessional financing that can be effectively allocated to create enabling environments for rapid investments. By de-risking investments and creating new asset classes for clean technologies, we can unlock and leverage greater amounts of public and private finance.

As we move forward, CoP29 represents an opportunity to build on the progress we have made and to confront the complexities that remain. Climate finance, adaptation, and international cooperation will be at the heart of our discussions. South Africa stands ready to play a central role in ensuring these critical issues are addressed, and we will continue to advocate for the needs of vulnerable populations—particularly women and youth—who are disproportionately affected by the impacts of climate change.

The task ahead is significant and requires our collective resolve. CoP29 is a moment for the global community to transform our shared ambitions into concrete actions. By uniting our efforts, we can ensure that the commitments we make today lead to a safer, more sustainable, and more equitable future for generations to come.

I will be co-chairing discussions on mitigation together with my counterpart from Norway and will head the South African delegation to CoP29.

I look forward to hearing your views.

Thank you.