The 29th United Nations Climate Change Conference (COP29) was recently held in Baku, the capital of Azerbaijan. As a key annual event in global climate governance, the conference held in-depth discussions on issues such as climate finance, climate adaptation, and carbon markets. Special focus was placed on global voluntary carbon markets, updates to Nationally Determined Contributions (NDCs), and the Global Goal on Adaptation (GGA), with participants actively seeking practical and efficient solutions in these areas. As an official observer organization at the UN Climate Change Conference, iCET has organized a number of related thematic events since COP15 in Copenhagen in 2009. During COP 29, we partnered with others to organize a series of events on topics including U.S.-China methane emissions cooperation, U.S.-China subnational cooperation, the role of digital currencies and blockchain in promoting climate cooperation, and clean transportation.
Event 1
U.S.-China Subnational Methane Dashboard Launching
Baku Time: November 15
On the afternoon of November 15, iCET, in collaboration with the California-China Climate Institute (CCCI), the Environmental Defense Fund (EDF), and the University of Hong Kong, hosted the thematic event—U.S.-China Subnational Methane Dashboard Launching at COP 29.
At the press conference, the organizers invited Dr. Fan Dai, Director of the California-China Climate Institute at the University of California, Berkeley, to engage in an insightful discussion on U.S.-China cooperation in reducing methane emissions. The event aimed to showcase methane emissions data at the subnational level in both countries using satellite data, AI models, and data visualization, highlighting the progress and effectiveness of their collaborative efforts to reduce methane emissions.
Dr. Feng An shared experiences of cooperation between the U.S. and China in carbon reduction, as well as the future directions and challenges of their partnership. The press conference not only demonstrated the achievements of U.S.-China collaboration in addressing climate change but also provided a new opportunity and platform for future cooperation in methane emission reduction.
Event 2
Embracing the Next Decade: Unlocking Carbon Asset-Backed Tokens with UNFCCC Recognized Carbon Cabin
Baku Time: November 16
On the afternoon of November 16, iCET, in partnership with Lvdoya, hosted the second thematic event at COP29—Embracing the Next Decade: Unlocking Carbon Asset-Backed Tokens with UNFCCC Recognized Carbon Cabin. The discussion focused on the cutting-edge application of digital tokens and blockchain technology in generating carbon credits and advancing global climate change mitigation efforts, with Sherry Lian, Founder and CEO of Lvdoya, as a guest speaker.
On the first day of COP29, significant progress was made in the development of the global carbon market. Parties to the United Nations Framework Convention on Climate Change (UNFCCC) reached a consensus on two carbon credit standards under Article 6.4 of the Paris Agreement (methodology development assessment and carbon removal), which will guide the development of the global voluntary carbon market.
Carbon credits arise from activities that reduce or avoid greenhouse gas emissions, such as reforestation, carbon sink protection, or replacing heavily polluting coal with clean energy. One credit represents the avoidance or reduction of one ton of CO2 emissions. Since the Paris Agreement in 2015, the UN has been trying to establish carbon trading rules to allow countries and businesses to trade carbon credits on transparent, credible markets. With the basic principles established at COP29, related rules will be formulated, including how much carbon credit a specific project can generate. Once the carbon market is up and running, it will enable countries—especially wealthy polluting countries—to offset emissions by purchasing carbon credits from nations that exceed their emission reduction commitments.
Sherry Lian highlighted that the unique advantages of digital tokens and blockchain technology could revolutionize the traditional carbon credit market, making it more transparent, efficient, and trustworthy. This innovative approach not only reduces the costs and time involved in carbon trading but also greatly enhances the liquidity and traceability of carbon credits, injecting new vitality into global climate mitigation efforts.
This event not only showcased deep expertise and innovative achievements in the field of digital tokens and blockchain technology but also sent a powerful message: in the global response to climate change, technological innovation is becoming a crucial driver for the development of carbon markets and climate mitigation actions, injecting new hope and momentum into global climate governance.
Event 3
China-U.S. Subnational Cooperation
Baku Time: November 16
During COP 29, the Energy Foundation organized a series of events from November 15 to 17 in Baku, focusing on “Accelerating Global Climate Solutions.” The event aimed to enhance global confidence in tackling climate change and provide support for strengthened collaboration. Experts from various countries discussed topics such as trade and supply chains, non-CO2 greenhouse gas control, low-carbon financing, and subnational climate cooperation.
At the China-U.S. Subnational Climate Cooperation Dialogue, iCET Founder and Executive Director, Dr. Feng An, was invited to participate in a roundtable discussion on subnational climate cooperation between China and the U.S. The session was moderated by Lei Hongpeng, Global Climate Director of the Children’s Climate Investment Fund, China’s Chief Representative. Other participants included Wang Shi, Founder of Vanke Group, and Elizabeth Lien, Director of the America Is All In Project.
Dr. Feng An emphasized the immense potential for pragmatic cooperation between China and the U.S., especially in areas such as clean energy and environmental technology. He stressed that subnational cooperation is the cornerstone of China-U.S. exchanges, making outstanding contributions over time in facilitating technology exchanges, market opening, and creating more employment opportunities.
The success of this event injected new momentum into subnational climate cooperation between China and the U.S. It is hoped that future efforts will strengthen the sharing of experiences, the exchange of solutions, and the development of innovative technologies, driving continuous progress in subnational climate cooperation between the two countries and contributing to more stability and sustainability in global climate cooperation.
Event 4
China Clean Transportation Partnership (CCTP)
Baku Time: November 18
On the afternoon of November 18, iCET, in collaboration with the China Clean Transportation Partnership (CCTP), hosted the third thematic event at COP29 at the Blue Zone Media Center.
At this critical moment in global climate governance, cooperation and innovation have become key drivers in achieving zero-emission goals. Dr. Feng An shared how CCTP is contributing to the green and low-carbon transformation of the clean transportation sector through diverse activities, cutting-edge joint research, and a broad communication network, promoting both China’s and the global sustainable development goals.
International Youth Sustainable Innovation Ambassador Annie Bai also delivered a brilliant speech, sharing her perspectives on clean transportation and sustainability from a youth perspective.
Dr. An emphasized that the establishment of partnerships and cooperation platforms is crucial for the global response to climate change. He noted that climate change, as a global challenge crossing borders and sectors, requires collaborative innovation and multilateral cooperation to integrate resources and wisdom to achieve the shared goal of deep decarbonization. As a non-governmental, non-profit cooperative exchange platform, CCTP is committed to building a bridge for communication and collaboration among policymakers, research institutions, and industry experts, driving cutting-edge research and practical innovation in the clean transportation sector. Through a variety of workshops, joint research, and industry information sharing, CCTP is injecting new wisdom and energy into the global transportation sector’s sustainable development.
