Switzerland is actively participating in the 29th United Nations Climate Change Conference (COP29), held in Baku from November 11 to 22, 2024. Hosted in a country rich in oil and gas resources, this meeting represents a pivotal moment in the global fight against climate change. The conference’s primary goals include discussing new financial targets for global climate protection investments, solidifying strategies to phase out fossil fuels, and setting updated national climate commitments through 2035.
For Switzerland, a key priority at COP29 is advancing a new collective financial mechanism. The Federal Office for the Environment (FOEN) has emphasized the need to broaden the pool of donor countries to include not only traditionally industrialized nations but also major emitters such as China and Saudi Arabia. Switzerland underscores the principle that every country should contribute “according to its means,” with a particular focus on wealthy states with high emissions levels. This approach reflects Switzerland’s commitment to ensuring a fair distribution of financial responsibilities.
The issue of climate finance has gained heightened relevance, especially after the historic milestone in 2022, when the Paris Agreement’s annual $100 billion target for supporting developing nations was finally met. Switzerland contributed significantly, mobilizing over CHF 700 million for climate initiatives that year. However, non-governmental organizations such as WWF and Alliance Sud have called for scaling up global funding to $1 trillion annually to support the Global South. Switzerland has yet to respond to these demands.
Another critical topic at COP29 is the discussion of market mechanisms that enable countries to implement climate projects abroad and count the resulting emission reductions toward their national targets. Switzerland strongly supports this approach as a means of enhancing international cooperation. However, this strategy has faced criticism for its lack of emphasis on domestic emissions reductions, which are equally vital for achieving global climate goals.
The Swiss delegation, led by Ambassador for the Environment Felix Wertli, is actively engaged in negotiations. Participants also include representatives from civil society, businesses, and environmental organizations. Swiss Environment Minister Albert Rösti is set to join the conference in its second week to personally advocate for Switzerland’s positions during high-level discussions.
For Switzerland, COP29 is not only an opportunity to reaffirm its commitment to international climate obligations but also a moment to confront criticisms of its policies. Despite achieving a 24% reduction in emissions compared to 1990 levels, the country faces accusations of insufficient ambition in its climate goals. Switzerland aims to cut emissions by 50% by 2030 and achieve carbon neutrality by 2050, but its targets appear modest compared to the more ambitious plans of Denmark, Finland, and other European nations.
Critics, including WWF and Greenpeace, highlight the need for Switzerland to revise its climate strategy. They call for greater domestic emission reductions and increased international funding that is not counted as compensation for national emissions. Additionally, gaps in Switzerland’s climate policies persist, such as the lack of consideration for emissions linked to imported goods and financial capital managed by Swiss institutions abroad.
Other priorities for Switzerland at COP29 include supporting new national climate goals for the period through 2035 and accelerating the transition to renewable energy sources. These efforts align with recommendations from the International Energy Agency (IEA), which states that accelerating the adoption of renewables could account for up to 38% of the emissions reductions needed by 2030.
Switzerland continues to play a vital role in shaping global climate policy. However, to strengthen its international influence, it must intensify domestic measures to reduce emissions and scale up climate financing. COP29 presents Switzerland with an opportunity to showcase its leadership and make a meaningful contribution to preserving the planet for future generations.