Wary of Trump, Azerbaijan, businesses shun COP climate talks

As the global COP29 climate summit approaches in Azerbaijan, many businesses are reconsidering their participation due to concerns over the event's location, the authoritarian regime hosting it, and the looming possibility of Donald Trump winning the U.S. presidential election shortly before the summit. This uncertainty has led some companies to either skip the event or send smaller delegations, as they prepare for the more significant climate discussions expected in Brazil next year. The upcoming COP29 is anticipated to be less prominent than previous summits, with companies shifting their focus to the following year's talks where nations will finalize climate strategies through 2035. Despite the lower profile, major oil and gas firms are still expected to attend, reflecting Azerbaijan's push for increased fossil fuel investment. Trump's potential re-election poses a significant threat to U.S. climate commitments, as he has indicated intentions to withdraw from the Paris climate agreement again. In light of these uncertainties, many companies are opting to announce their climate initiatives at alternative events, such as Climate Week, rather than at COP29. Dan Byers from the U.S. Chamber of Commerce's Global Energy Institute highlighted the challenges of making climate commitments in such an unpredictable environment. Verena Radulovic from the Center for Climate and Energy Solutions noted that businesses are recognizing the value of diversifying their climate messaging beyond COP. Looking ahead, industry representatives suggest that the subsequent COP in Brazil will be more critical, as the focus on Azerbaijan diminishes. The shift in corporate strategy underscores a growing desire to maintain climate leadership while navigating the complexities of global political dynamics.