Climate negotiations are taking place in Azerbaijan, with a focus on raising money to help poorer nations handle the impacts of a heating planet. Jack Board and Liling Tan discuss what they’re looking out for and hear exclusively from COP29 CEO, Elnur Soltanov.
You're listening to AC N A podcast.
It's that time of year when the world's leaders government negotiators, global financiers and industry heavyweights come together to thrash out plans to save the planet. It's called Cop the Un's Climate Change Summit
and it's just a few days away. Why should you care today? We'll tell you why and have a fun little debate about the choice of host city. Hi and welcome to Climate conversations. I'm Jack Boyd. Hello Li Ling Tan. How are you? Hi, Jack. I'm very well. How are you? I'm good. Getting ready to travel. Climate nerd hat on. Are you getting psyched for cop? Absolutely.
It's like Christmas for climate dorks like you and I right. Can't wait to hear all the exciting news about climate financing implementation of article six, the operationalization of loss and damage funding and these very exciting, wait for this drum roll. National Collective, quantified goals. Where do they come up with these sexy catchy names? Huh? I think I prefer regular Christmas,
don't we? All? All right. But this is your fourth cop though. You're quite a veteran here. Are you sick of it yet? No, I'm not sick. Of it. Look, sometimes we poke fun at these processes and how elevated the discussions tend to be removed from the real world. But I, I still do believe that they are important. It's the fourth time. Yeah, for me, I wouldn't say I'm a veteran. I always run into people there who have been to 15 cops or they've been going since 2000.
And so you still feel like a bit of a rookie speaking to some of those people. But yeah, I'm looking forward to this one in baku and this cop is also being looked at as a technical cop, right? So it's not really the fun party going, the more exciting, extravagant kind of cops that we've seen in the past before, right? I'm not sure if any of them are party going. I am interested in a few of the wine bars that buck has to offer but I mean, the down time, but you know, it's the turnout's gonna be slightly more mute
this year than in previous years. I think if I remember correctly, there were some articles about how fewer private companies and entities will be attending. Somebody even just said, we're waiting to see if cool kids go and if they go, maybe we'll go. Yeah, totally. You're right. It's going to be technical, it's going to be implementation focused. It's not going to be big grandstanding and big announcements about climate targets. All the countries are going to be saving that for next year.
Look, I'm really interested in loss and damage obviously because it affects our region a lot. There's a big focus on finding money that the developing world needs. So I think that's going to be front and center for our coverage. Alright, let's start with our quiz.
It's gonna be focused on Azerbaijan. What do you know about it? Now? I've been there a couple of times already, so I'm just gonna give you some fun facts. Let's see if I can get you excited about the host nation. Even though we've just downplayed how this cop might be. It's important. Yeah, Azerbaijan is called the Land of Fire. It has a bunch of mud volcanoes. There's 400 of them
and this kind of nickname has only been enhanced by its deep connections to oil. Now, it also has the world's oldest carpet museum. Interesting. Right. It's a cool looking building that looks like a rolled up carpet and it shows off. It does. Yeah.
And it shows up the kind of the country's deep heritage of carpet weaving. I thought that was cool. And it's home to the world's largest lake, which is the Caspian Sea, beautiful Caspian Sea, which is around the size of Japan, which is crazy. All right. I've given you lots of facts. But now the question, can you tell me how many countries, the Caspian Sea borders
and what those countries are? Geography? OK. Azerbaijan, of course. But Yeah, I have an idea about a couple of other countries. We say as le goes and picks up her Atlas, look ma hands right up here. All right answers will be at the end.
Ok. Ya, what stories have you picked out for us this week?
I've got a two for one this week and it's about the pricing of chocolate during this peak holiday, chocolate buying period. So it's getting more expensive and guess what the culprit is. Yes, climate change. It has been taking a huge chunk out of the supply of chocolate's key ingredient. The cocoa bean
and CN A's global team did two separate stories on this the past month. One looks at the impact on cocoa makers in Ghana which is of course the second largest cocoa producing country in the world after the ivory coast. And the other story looks at the consumption end of it chocolate buying in the United Kingdom.
Now here's a clip from Nabil Ahmed Rufa in Ghana who looked at the story from the production angle for the past three years. Cocoa farmers in Ghana have been struggling to meet their production targets. They say long dry spells linked to climate change is among the factors contributing to the poor harvest.
The crippling droughts followed extensive rainfall and flooding that dealt a double blow to cocoa farmers pests and plant diseases, illegal mining and smuggling activity also took huge chunks out of the supply.
Now cocoa prices soared. Hitting record levels earlier this year. It's now double what it was since January. And the higher cost is already trickling down to chocolate markets and retailers around the world. And the UK is definitely one of them feeling the pinch. Here's John Beaver reporting out of Bristol. The first mass produced chocolate bars were made here in Bristol in Southwest England. In 1847 it transformed chocolate from a luxury item to a more affordable treat.
But in recent years, prices have risen sharply since 2010. This bar of dairy milk has got smaller but the price has almost doubled to just under two pounds. That's around $2. 50. The manufacturers have
inflation and rising costs but the price of cocoa is also a problem. These gold coins which are hugely popular during the festive season have gone up by 10% since last Christmas
and it looks like supply is still being hammered by erratic weather and rainfall. So prices will likely stay up there. Now, it's making me think about Charlie and the chocolate factory, isn't it? Jack? If you say so, it's like, oh no, we can't afford chocolate. We'll have to share and ration. How is your daughter going to feel about that? Oh goodness, she's getting so much of a fill right now from leftover chocolate candy from Halloween.
It is insane.
Ok. It's time for our main story. This week we're talking cop 29 and we'll have a debate soon and hear from the CEO of the summit in an exclusive interview. But first let's go straight to why the world is watching this cop and why you the earthly citizens should also care about it. Jack, you mentioned earlier that you're about to head out, right? You're flying out to baku tomorrow night. No, to cover this. Yep, yep, bags are being packed. Awesome.
And you've also been working on a few preview stories ahead of the summit and one of them is on the five things that we need to know. Now, looking at this number one,
this cop is really about climate financing, right? That's the overarching theme. Show me the money as I wrote in the story. Yeah, look, finance is going to be the central pillar of the talks and perhaps the most importance will be the negotiations around what you mentioned earlier, the new collective quantified goal get ready. You're gonna be hearing a lot about that. Yeah.
So basically it's a financial framework that's going to replace this $100 billion in climate finance that advanced economies have been promising to give poorer nations every year. And that's basically been a fail.
And so this new NCQG, what a catchy name NCQG is going to be aiming even higher we think. So that's gonna be a watch. They're gonna try and mobilize even more money.
And then as I mentioned, loss and damage, which is money that is meant for countries bearing the brunt of climate change will also be one of our focuses. And countries like the Philippines have been really leading the charge on that loss and damage and say it with me together and CQGY. Remember that
moving on to number two. Now all of this is set against the backdrop of a hot planet and, and one where the weather is getting increasingly warmer. Now, things haven't improved on that front in this past year where we saw some record high temperatures. We've spoken multiple times about this hurricanes, floods and of course, the erratic weather patterns, right? How much of this is going to factor in Jack?
Yeah, I mean, global temperatures have continued to rise. Surface and ocean temperatures have both hit record highs this year. And when we look at the concentrations of carbon dioxide and methane, they are also at all time, high levels in the atmosphere and this 1.5 degrees barrier that all of this is meant to prevent. We've breached it this year. So all of this is the backdrop to these talks.
So number three, of course, is the big question. Could this be the end of fossil fuels for every cop? It's been a point of contention. Can we make the needle move? I don't think so. No. This from our in house optimist look, simply put fossil fuel production has continued to rise just like the temperatures. And Azerbaijan itself is a Petro state 90% of its exports are oil and gas and it's in charge of all of these talks
last year. There was this mention of transitioning away from fossil fuels in the final cop agreement. So we know that there are going to be disputes again about some of that language in the final statement out of the summit. Ok. Number four, this cop is taking place at a time of multiple conflicts. It's been evidently a shocking
for wars. We've got Ukraine, the escalating crisis in the Middle East and of course, the protracted Sudan conflict now is all of that taking attention away from climate action and the principle of cooper operation and consensus in Baku. I think there's a high chance that that is the case and the likely outcome I think is simply less ambition at this summit. There'll be less money
and more distrust and so that doesn't really bode well for a very successful cop. If we're being brutally honest here, experts have told me that this level of conflict is unprecedented since the UN F Triple C was set up in 1992. Having said all that the organizers in Baku are really pushing peace as a central theme this year for the first time. So
we'll see if that makes any impacts on decisions. Jack, you mentioned the UFC. And just so everybody is aware of that is the UN the United Nations Framework Convention on Climate Change is under the UFCCC So the last one, number five,
my favorite of all carbon trading. Now this is a very complex topic, but we could see finally the global rulebook for article six sorted out. Yes.
Yeah, maybe it's been AAA decade in the making. So everybody is, I think optimistic that article six might finally be completed. Now it covers the rules for international carbon markets which can be used by countries to meet their emissions reductions targets. So let's say you that the nation of Li Ling wants to pollute more. Yeah,
you could buy credits from me. The nation of Jack if I've done things like preserving my rainforests for example, and I have credits to sell you. So the idea is that eventually it's cheaper for you to decarbonise than having to keep buying those offsets from me.
Super simple explanation. Article six really goes deep into lots of different areas. So we'll be watching that as well. I really like that explanation. The nation of lien versus the nation of Jack, the nation of lien and the nation of Jack buying and selling carbon credits to meet our net zero targets. That's nice. All right. Next, I want you to hear from one of the central figures of COP 29. It's the CEO
and the Deputy Energy Minister of Azerbaijan El Nour Sultanov. Now I interviewed him in Baku at the COP 29 HQ which is located in the White City which is a part of Baku that was once condemned due to contamination from oil extraction
and those oil fields are still everywhere, mind you, but they have cleaned up this part of the city now. It's a bit of a showcase for the organizers. I started by asking him what Azerbaijan can bring to the table on climate as the cop president.
And of course, the green transition transitioning in general because uh global climate cli global warming and climate change is not just about energy sphere. Of course, we have uh agricultural sphere, we have industry, we have base management issues out there. But again, we are very happy. We take pride in the fact that this is kind of very nicely fits into the history into the narrative of the country in general.
What are the expectations? I think we like it or not. This is finance will be at the core of this year's climate negotiations. And as you know, there are two major tracks, one is negotiation track and we don't have much. This is basically in a triple C led process. They tell us what our mandates are and basically we are helping the United Nations Convention on climate change to advance the topics that they should advance and by hosting and also by,
by co leading process with them.
And finance is important and I think it will be very significant issue. It is at the forefront. And as you know of the around dozens of issues and security definitely looms large, large. But our position is this and vision wise, we expressed this several times already. Finance cannot be understood in abstract terms. Finance is there to enable action, enable climate action.
And by climate action, we mean really both mitigation adaptation. So basically the motto of the negotiation track I would say is enhanced ambition and enable action and enabling action. Basically means that if we want to have that kind of collect and bold action in climate, we need support, we need enablers, we need means of implementation. And as you know, we have finance, technology and capacity building and finance definitely is the most important thing out there
as an important oil and gas producer and exporter does being the host of cop add pressure to your domestic energy strategy or conversely add opportunities to your domestic energy strategy. Yeah,
I mean, Jack the uh as we talk like at the start, the entire world economy is based on hydrocarbons, we like it or not. That's a matter of fact
and everybody, every country in the world is an oil country, either pro producer country or consumer country or both.
We are basically current to producing around 0.5% of gas and 0.55% of oil and our oil production levels are going down. And this is also part of the deliberate policy by the government because gasping is really rich in terms of natural resources including hydrocarbons. But there is more and more shift towards
gas and green energy. Azerbaijan commissioned the biggest solar power plant in the entire region in October last year. And by 2027 in the installed capacity share of renewables will go up to 30%. Also a very, very significant number in our region. Definitely, I should also tell you that we are really looking at not what you are doing
currently in terms of hydrocarbons, but what you can contribute to tackling climate crisis. So this is the measure that we look at ourselves and at others, what can you bring to the table to tackle the climate crisis we are facing because we can really lose it all. And for us, the target should be, as I said before 1.5 again, the possibility of overshoot is quite high.
But as the first global stock take at cop 28 made it very clear. The current in DC, current plans are not enough. We need course correction and that is 1.5 the target North Star should be 1.5. And we are asking everybody and first and foremost ourselves, what if we have experience in oil and gas business? Historically speaking,
what is that technology wise? And we saw that in C 28 as well, technology wise, there are a lot of things, experience wise, a lot of things that can help us to advance the tackling of climate crisis. And again, one more time. This is the
measure. If we look at ourselves and to others, what you can bring to the table if that's the experience in the hydrocarbon sector. Perfect. As long as in good faith, you are utilizing all those resources again to handle, to solve the problem that we are facing in terms of climate.
How are global events impacting climate talks and negotiations and the mobilization of these finances that you talk about conflicts, for example, in Ukraine in Gaza
and important elections that have happened this year as well. I think
even historically, this year will be standing out in terms of how many people went to ballot boxes all over the world. But our position is that time is short, resources are always not enough, especially given the task that we are facing
and therefore we don't have much attention to spare on things that we cannot control elections will happen. This is the normal situation in the world. Unfortunately, conflicts are continuing. And in fact, one of the main action agenda items for us is the nexus between peace and climate. We attach a lot of importance to that
because Azerbaijan's presidency became possible when Azerbaijan and Armenia supported each other. And we have been over conflict for over 30 years. And for us, this is something to capitalize upon and move forward. But again, back to your question,
we focus on things that we have mandate on and that we can change and that's leading climate negotiations and also making sure that on presidential action agenda, presidency action agenda, those 14 items that probably are going to be talking about at least in some of them, we can move forward because negotiations,
negotiations and requiring consensus fine. And we believe that there will be significant outcomes but any step taken forward matters and even healthy step forward matters. And that for that we have action agenda items. Again, we are really laser focused on things that we can do and hopefully we are going to deliver.
That was my chat with El Noor Sultanov. Now we're gonna take off our climate nerd hats for a bit. We're gonna put on our opinion hats. It's something we don't always get to do as journalists, but just for the sake of this debate and it's a big issue that I always hear. You always hear people ask should fossil fuel giants be chosen to lead these climate talks?
And this year will be the third time in a row following on from the UAE and Egypt for the sake of debate in the affirmative. We have you Li Ling, I'll take the negative, make your case for their involvement and their leadership of these climate summits. Ok. So these petro states major oil producing countries, they are the culprits when it comes to greenhouse gas emissions and carbon emissions. So they need to be part of the solution in a significant way
in order to really have any kind of traction in hitting global warming targets. They need to be a big part of the conversation and just making available renewable and alternative energy or investing in. It isn't enough if people can still easily access affordable gas, oil and coal. And so
in order to get them on board and reduce fossil fuel and phase out fossil fuel production, we need them at the table, we need them on board and we need them to drive part of this transition because that's what it takes. Ok, I hear you. I agree to an extent that they have to be part of the solution.
But should they be actually in charge of these summits? That's a different level of involvement. That's a different level of influence that countries that have, let's face it, vested interests, conflicts of interest in continuing the status quo and the world's dependency on their resources that of course they want to sell to us. The stability of their economy is totally tied
to ensuring that oil and gas continues to be produced. And we know that they are leading causes for global warming and when they are in the driver's seats, I believe that they have too much say over how much progress can be made. And we are shooting ourselves in the foot a bit by not enhancing ambition, which ironically is one of the taglines of Azerbaijan's presidency,
right? Ok. So let's look at it this way. We need them as hosts or we stand to gain from them as hosts of these cop summits. Because by putting them in that spotlight, we are in a way holding them to account, right. They are forced to really weigh the
impacts of their fossil fuel production of their economy is driven by this and look at opportunities or really or to galvanize opportunities for their own transition. I think there is a recognition that climate change is a reality and that things need to start changing.
But we also have to remember that at the end of the day, companies are profit making or they're supposed to be profit making is all about the bottom line. They're not activists, they're not doing this out of the collective good of the planet and maybe the intent is there. But ultimately, at the end of the day, they have to answer to shareholders and they have to make money, but the companies are not in charge of cop, the governments are in charge of cop so too much power in the hands of the companies which are,
are often state entities. I think it is a mistake. And what that also allows is these huge numbers of fossil fuel industry representatives from these nations that kind of blur the lines between representing the government and representing companies. They can dominate the discussions. They dilute the climate action proposals that other nations could put forward. But imagine
the alternative when you have these Petro States who are just there being dictated to and mandated to by other governments who feel that they are in a better place and they know better.
How receptive do you think these petrol states would be in that scenario? That's fine. They're a powerful block as it is. And I should say we would include countries like the United States in this equation, often criticized for a lack of leadership in this space on another topic. And this is a big generality. But something else in common from the last three Cops is a human rights issue. The lack of public expression,
the inability to report freely about these industries and these issues. And that definitely has made covering Cop much more difficult. I think that's something else that needs to be taken into account if we are putting scrutiny on the presidency of Cop. Yet we cannot report freely about what they're actually up to. I think, yes, the human rights factor is a huge issue which is why the owner should be on a lot of the other organizations and entities to haul these petrol states and companies to account.
And the more they are driving these summits, the more they put themselves under the spotlight for greater scrutiny. And I think that can be a positive thing when it comes to moving the needle on the green transition. OK. Interesting discussion. We actually put up
an opinion poll on linkedin asking people what they thought should fossil fuel giants be chosen to lead climate talks and indicative of the divisiveness of this discussion. 50% said yes, we need them and 50% said no, too much influence. So, yeah, goes to show that people are on both sides of this debate and we'd love you guys to connect
with us on social media as well. So if you have a thought or an opinion, please share it with us CN podcasts at mediacorp.com dot SG as well if you want to get in touch. Ok. We're also adding a little new bite sized weather. Look ahead to the lineup in the podcast this week, Leila put on your, now, your weather meteorologist hat. Take it away.
All right guys, rainy with a chance of crazy expect, wetter rainier end to the year across most of Southeast Asia as the region
enters the monsoon season. So low lying areas may need to brace for more flooding and high mountainous regions may have to prepare for possibilities of landslides, Indonesia. However, may buck this expectation with the current dry and hot conditions, they're likely to hold for a bit longer due to tropical cyclones forming in the Pacific Ocean, disrupting rain and wind activity. And that's your weather forecast from climate conversations.
All right, quiz time. Let's repeat the question.
What are the bordering nations of the Caspian Sea? And even I have to think pretty carefully about this, even though I just did a big feature story on it. Lots of people when I tell them I'm going to Azerbaijan, they don't even know where that is. Do you Li Ling? Yeah, I do know where that is. And in terms of the country surrounding Caspian Sea, I may not know all of them. We know Azerbaijan is what looking at it, lower left of it on the western side
and south of that, we know Iran is there. I know Iran is there. And then to the north of Azerbaijan, we have Russia because it used to be a former Soviet State, Russia's up there. And ok, so the northeast part, I'm a little so it's definitely not Afghanistan because that's further away. We've got Uzbekistan and Turkmenistan and Kazakhstan is further away too. I think so. It's either Uzbekistan or Turkmenistan or both
Turkmenistan is correct. And the last one was Kazakhstan. Oh, ok. So I got those two confused. It's a big country. So four out of five. Good effort. Got it. That was fun.
Ok. That's it for this episode of Climate Conversations. Thanks as always for listening in. We'll see you next week. See you all back here. Same time, same place next week. I'm Li Ling Tan and I'm Jack Boyd. Thanks as always to the team that put together this podcast, Arjun Bala, Tiffany, Janani, Jahari and Christina Roberts.