Oil Change International Media Advisory – COP29 Day 8
As COP29 enters its second week in Baku, a parallel opportunity for climate finance leadership emerges in Paris, where OECD governments will gather to negotiate an end to $41 billion in annual oil and gas export subsidies.
FOR IMMEDIATE RELEASE
November 18, 2024
Contact:
Nicole Rodel, Oil Change International (in Baku) – [email protected] / +27842570627
Valentina Stackl, Oil Change International (ET – remote) – [email protected] +17342766260
Oil Change International Media Advisory – COP29 Day 8
As COP29 enters its second week in Baku, a parallel opportunity for climate finance leadership emerges in Paris, where OECD governments will gather to negotiate an end to $41 billion in annual oil and gas export subsidies. A breakthrough in Paris could help build much-needed momentum to unlock broader progress on climate finance at COP29, where negotiations on the new climate finance goal (NCQG) remain at a critical juncture. While the majority of OECD countries—including the EU, UK, Canada, Norway, New Zealand, and Australia— are already championing an end to oil and gas export finance, the Biden administration’s support is crucial for success to get Korea and Japan on board and get an agreement over the line. The outcomes of both meetings will test rich nations’ commitment to real climate action: will they continue subsidizing fossil fuels while pushing inadequate private finance schemes, or deliver the public grants needed for a just transition? With the draft NCQG text still under negotiation, countries must commit to providing at least $1 trillion annually in public finance to support Global South nations in implementing climate solutions and phasing out fossil fuels.
This media advisory outlines:
- Today’s key events and releases:
- Actions:
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- 9:00-9:30: Tax Big Polluters, Fund Climate Finance action (Action Location 2, Zone B – entrance)
- 10:00 – 10:30: Niger Delta Action (Action Location 2, Zone B – entrance)
- 10.45 – 11.15: OECD Action to stop fossil fuel financing (Action Location 2, Zone B – entrance)
- 13:30 – 14:00: Just Transition action Action Location 4, Zone B (near entrance / exit)
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- Tomorrow’s key events and publications (November 19):
- 15:00—16:30 in room SIDE EVENT 6: What we need from the NCQG to unlock NDCs that phase out fossil fuels and build renewables for all
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- Recent reactions, in case you missed them:
- Releases:
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- Oil Change International New Research on Climate Finance
- COP29 Explainer: Why we can’t rely on the private sector to finance the energy transition – A new analysis showing why private sector finance alone cannot deliver a just energy transition
- Shifting and unlocking trillions for a just energy transition on the road to COP29 – An updated briefing on how COP29 depends on countries agreeing on a new climate finance target of at least $1 trillion per year in grants and grant-equivalent finance, with new data showing a private finance focused ‘investment’ or ‘mobilization’ target is not a viable replacement for this.
- COP29 Dispatch: The biggest stories from week 1
- Latest NCQG draft: Response to the latest New Collective Quantified Goal on Climate Finance
- Activists denounce presence of big polluters at COP29 in front of OPEC and GEFC pavilions
- Oil Change International New Research on Climate Finance
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Spokespeople and areas of focus
At COP29, reach out to us to connect with spokespeople to cover:
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- Financing a just transition: NCQG, fossil fuel subsidies and finance, financial architecture reform, Clean Energy Transition Partnership, Global Clean Power Alliance, OECD, MDB and G20 finance announcements.
- Fossil fuel phaseout: Troika fossil fuel expansion, Nationally Determined Contributions, diplomacy and negotiations, abatement, hypocrisy via oil and gas expansion, 1.5ºC scenarios
- Industry and False Solutions: Industry pledges, Oil and Gas Decarbonization Charter, IEA / WEO, CCS, False Solutions Subsidies, Kick Polluters Out
- United States: U.S. Election, U.S. fair share NDC, LNG, certified gas, U.S. subsidies, U.S. Congress
- Africa: Resistance to oil and gas in Africa, oil and gas expansion in Africa
OCI has spokespeople available on the ground at COP29 for interviews and press panels, as well as representatives in alternative timezones for those journalists not in attendance in Baku.
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