Wary of Trump and Azerbaijan, businesses shun COP climate talks

Aug 13 2024 · 2 min read

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

🗞️ Driving the news: Businesses are pulling back from this year's COP29 climate summit in Azerbaijan due to concerns about the autocratic regime, logistical issues, and uncertainty over the U.S. election outcome
• Many companies are either skipping the event or sending smaller delegations compared to previous years

🔭 The context: The expected lower corporate turnout marks a shift from the highly attended COP28 in Dubai, as firms reassess their participation in light of Azerbaijan's oil-driven economy and the potential for a second Trump presidency
• The upcoming summit in Brazil next year is already drawing more attention from businesses

🌍 Why it matters for the planet: The reduced corporate presence at COP29 may lead to fewer climate commitments and a diluted focus on advancing global climate strategies, especially in a fossil-fuel-dependent host nation like Azerbaijan

⏭️ What's next: Companies are increasingly shifting their climate initiatives to other forums like New York Climate Week and COP16 in Colombia to avoid potential complications and focus their messaging away from the uncertainty of COP29

💬 One quote: "The election is just blotting out the sun," said John Coequyt, director of U.S. government affairs with RMI

📈 One stat: COP29 attendance is capped at 40,000, the same as COP26 in Glasgow, but far fewer are expected to attend