World leaders jet in for Cop29 as clamour for action grows

President of Azerbaijan defends record on oil, as UN chief Guterres says rich nations must help tackle problems they've created

Children perform at the opening ceremony of Cop29, in Azerbaijan's capital Baku. Reuters

“Don’t call us a petrostate,” said Ilham Aliyev, President of Azerbaijan, as he opened the UN climate action summit Cop29 in his country's capital, Baku.

In a combative speech, Mr Aliyev sought to hit back at western criticism of his nation's hosting of the event, saying that oil and gas are a “gift from God” needed by the global market.

“As President of Cop29, of course, we will be a strong advocate for green transition and we are doing it,” he said. “But at the same time, we must be realistic.”

That call for realism may ring true at a summit that some key leaders are not attending – though there is a growing clamour for action and demands that decision-makers do not leave Baku in 10 days' with little progress made.

This is a story of avoidable injustice. The rich cause the problem, the poor pay the highest price

UN Secretary General Antonio Guterres

Mr Aliyev said his country contributes just 0.7 per cent to global oil production and 0.1 per cent of emissions. It is expected to sign a deal with BP at the event to begin work on decarbonising some of its oilfields and gasfields.

The leaders summit plays a pivotal role in the two-week climate negotiations, with new national climate plans set to be sealed in the coming days.

President Sheikh Mohamed is among high-profile leaders attending the Baku summit, after the UAE hosted Cop28 almost a year ago.

British Prime Minister Keir Starmer is one of only two G7 leaders attending the talks, along with Italy’s Giorgia Meloni. Among those missing are French President Emmanuel Macron and Japan’s Prime Minister Shigeru Ishiba.

China is sending Vice Premier Ding Xuexiang to represent its President Xi Jinping.

Antonio Guterres, UN Secretary General, welcomed world leaders with a stark warning that rich nations who generate most planet-heating emissions must lead the transition – and help poorer nations along the way.

“We need countries’ new climate action plans to set out adaptation financing needs,” he said.

Mr Guterres said the gap between adaptation needs and finance could reach up to $359 billion a year by 2030.

“These missing dollars are not abstractions on a balance sheet: they are lives taken, harvests lost, and development denied. Now more than ever finance promises must be kept,” he said.

Nationally determined contributions are each country's climate action plans under the Paris Agreement adopted at Cop21 in 2015. These detail how a country intends to reduce greenhouse gas emissions and outline strategies for adapting to the effects of climate change.

UN climate change executive secretary Simon Stiell says the quality of the NDCs is critical.

'Time is not on our side,' UN chief warns Cop29

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Cop29 has been dubbed the finance Cop because success is pinned to the sealing of a new financial deal to tackle climate change for developing countries. Mr Guterres has urged developed countries to double adaptation finance to at least $40 billion a year by 2025.

“At this Cop, you must agree to rules for fair, effective carbon markets that support that fight; markets that respect the rights of local communities and leave no space for greenwashing or land-grabbing. By next Cop, you must deliver new economy-wide national climate action plans.” said Mr Guterres.

Mr Stiell has called the climate crisis an economy killer. According to a 2024 report by the US-based National Bureau of Economic Research non-profit organisation, climate change shaves off 12 per cent from global gross domestic product for every 1°C of temperature rises.

“Unless all countries can slash emissions deeply – every country and every household will be hammered harder than they already are. We will be living in a permanent inflationary nightmare,” he said.

Bolder climate actions are a recipe for stronger economies, more jobs and equality, less pollution, better health, and greater energy security, said Mr Stiell.