illuminem summarizes for you the essential news of the day. Read the full piece on CNN or enjoy below:

🗞️ Driving the news: COP29 in Baku has devolved into geopolitical disputes and criticism over fossil fuel influence, overshadowing urgent climate goals
• Azerbaijani President Ilham Aliyev called oil and gas a “gift of the god” and accused Western nations like France of “hypocrisy” and “brutal repression,” leading to boycotts and international backlash
• Amid this turmoil, global climate leaders have issued calls for reform, criticizing COP's effectiveness and fossil fuel industry presence

🔭 The context: COP29 is the third consecutive summit hosted by a petrostate or fossil-fuel-reliant economy, following the UAE and Egypt
• Critics highlight the presence of 1,700 fossil fuel lobbyists and question the credibility of Azerbaijan’s leadership
• Meanwhile, leaders grapple with the impacts of Donald Trump’s reelection, as his climate denialism emboldens other nations like Argentina, which may exit the Paris Agreement

🌍 Why it matters for the planet: The chaotic talks come during what is likely the hottest year on record, as the world faces mounting pressure to halve carbon emissions by 2030 to maintain the 1.5°C target
• COP29’s dysfunction threatens to stall progress on global climate commitments, jeopardizing funding for developing nations and efforts to phase out fossil fuels
• Without decisive action, achieving net-zero emissions by mid-century remains unlikely

⏭️ What's next: Negotiations continue under strained circumstances, with a growing push for reforms to exclude fossil-fuel-promoting nations from hosting future COPs
• Brazil, the host of COP30, may provide a turning point, but its own fossil fuel production raises questions about its climate leadership
• Immediate attention will focus on whether COP29 can salvage meaningful agreements despite the geopolitical drama

💬 One quote: “The fossil fuel industry and the petrostates have seized control of the COP process to an unhealthy degree” – former U.S. Vice President Al Gore

📈 One stat: Over 1,700 fossil fuel lobbyists are officially registered to attend COP29, sparking criticism from environmental groups

Click for more news covering the latest in ESG