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The Japanese concept of ikigai represents the confluence of purpose, passion, vocation and mission, which form the guiding principle for a fulfilling existence. Rooted in the idea of finding harmony between what one loves, what one is good at, what the world needs and what can be rewarded, ikigai emphasizes balance and interconnectedness. gives
Applied to the Conference of the Parties, ikigai symbolizes the convergence of ambition, competence, equality and need – creating a platform that aspires to align diverse global interests for the common goal of tackling climate change. Like the four pillars of ikigai, the COP’s mission hinges on aligning nations’ ambitions with their capacity, equitably sharing responsibilities and addressing the urgency of climate action.
Despite the good intentions underpinning the COP, the mechanisms by which negotiations are conducted often fall short of their objective. As the world faces the dual imperatives of mitigating climate risks and adapting to irreversible changes, the COP must reorient its practices to embody inclusive, equitable and science-based decision-making. The challenge lies in restructuring the negotiation framework to ensure broad participation, integrating pluralist agendas and enhancing the principle of Common but Differentiated Responsibilities and Related Capabilities (CBDR-RC). Each of these dimensions represents an opportunity for the COP process to move closer to ikigai, ensuring that its outcomes are effective and equitable.
For the COP to fulfill its ikigai, it must address persistent disparities in participation that skew the negotiations to the interests of wealthier countries. Historically, power dynamics within climate negotiations have marginalized the voices of low-income countries, indigenous peoples and vulnerable populations – those most affected by climate change but least responsible for it. There are Real inclusion requires structural changes that ensure these voices are not only heard but actively shape the decision-making process.
Providing financial and logistical support to delegations from least developed countries (LDCs) and civil society organizations is an important step towards leveling the playing field. Additionally, the COP should institutionalize mechanisms to engage indigenous knowledge systems, which are often rich reservoirs of sustainable practices. This inclusion will not only increase the cultural diversity of the solution, but also ground policies in a locally relevant approach. Meaningful youth engagement, another neglected dimension, calls for formal spaces where younger generations can influence the agenda, bring innovative ideas and long-term perspectives to the table.
To reflect its ikigai, the COP must integrate climate justice and scientific rigor into its core agenda. Climate justice, which calls for a fair distribution of climate burdens and benefits, is not only a moral imperative but also a practical imperative to foster trust and cooperation. The disproportionate impacts of climate change on vulnerable countries should be addressed through targeted mechanisms, such as enabling new collective quantitative targets on climate finance and damage and loss funds. To ensure equity, the design and distribution of this fund should involve recipient countries in decision-making, preventing donor countries from imposing conditions that undermine sovereignty.
At the same time, the COP should anchor its actions in the latest scientific findings to ensure the credibility of its commitments. The Intergovernmental Panel on Climate Change provides a strong evidence base that guides negotiations on mitigation, adaptation and financing. Science can also play an important role in solving controversial issues, such as determining the carbon budget and identifying pathways for the net-zero transition. By adopting a pluralistic agenda that balances justice with science, the COP can create policies that are both ethically sound and technically feasible.
The CBDR-RC Principles, a cornerstone of international climate governance, recognize that nations have different responsibilities and capacities to address climate change. While the principle has been instrumental in securing commitments from developing countries, its implementation is often met with resistance from rich countries reluctant to shoulder their fair share of the burden. To strengthen the CBDR-RC, the concept should be developed to reflect contemporary realities without neglecting historical obligations.
One way to enhance CBDR-RC is to quantify historical emissions to establish clear metrics for equitable responsibility sharing. Such an approach would provide a transparent basis for commitments, reducing the scope for ambiguity and political maneuvering. A tiered framework for action, where developed nations prioritize mitigation and financing while developing nations focus on adaptation and capacity building, can further enable this principle. However, these initiatives require strong accountability mechanisms to ensure that commitments are honored, particularly by high-income nations whose commitments have not been met.
One way to engage the public and private sector to generate more climate finance is through effective market-based climate finance instruments such as carbon credits under Article 6 of the Paris Agreement.
At COP29, progress in the Article 6 negotiations marked an important step towards the ikigai of global climate action, addressing the complex balance of desire, capacity, equity and need. Article 6 of the Paris Agreement enables countries to trade mitigation outcomes through bilateral agreements (Article 6.2) and through a central UN framework (Article 6.4).
These mechanisms promise to harmonize global carbon markets while promoting cost-effective pathways to achieving climate goals. However, their success depends on equity and strong monitoring, which are fundamental to maintaining the environmental and social integrity of carbon credits.
The clarification provided by COP29 on the rules of Article 6.2 is an important step forward in ensuring transparency and governance in country-to-country trade of the mitigation consequences of international transfers. By establishing a framework for registries and permits, it strengthens confidence in the integrity of the carbon market. Similarly, the framework for finalizing Article 6.4 aims to address long-standing inefficiencies and credibility challenges by offering a centralized mechanism for monitoring transactions.
These developments are consistent with the ikigai concept of what the global climate community needs (effective market rules), what nations are capable of (allocating resources for carbon trading) and ensuring a fair distribution of benefits and responsibilities. by making
However, fair implementation of Article 6 is fraught with challenges. Critics, including NGOs such as Carbon Market Watch, warn of persistent flaws in double counting, particularly in voluntary markets outside the framework of Article 6. These loopholes undermine the purpose of carbon trading and allow claims of emissions reductions. Without a supranational body to enforce compliance, responsibility for monitoring rests with individual nations – a structure prone to inconsistency and weak enforcement.
In this context, COP29’s ikigai calls for mechanisms that prioritize equity while providing adequate support for developing countries, which are often most vulnerable to climate impacts, to participate in and benefit from these markets. give
To maintain the credibility of carbon credits, implementation of Article 6 should emphasize high-quality monitoring. This includes independent, risk-based ratings and strict monitoring to prevent greenwashing and ensure that traded credits represent real, incremental and sustainable emissions reductions. The focus should also shift to diversion-based credits, such as bioenergy with direct wind capture and carbon capture and storage (BECCS), which provide sustainable climate benefits. Furthermore, establishing a single global standard for carbon credits, incorporating lessons from voluntary markets, will reduce uncertainty for investors and strengthen the environmental integrity of the market.
Equality of Article 6 mechanisms also needs to address systemic risks, particularly in the Global South. Carbon credit projects in these regions often face political, geographic and social challenges that increase the cost of credit generation. Without adequate compensation for these risks, the value chain disproportionately favors wealthier nations, contradicting the ikigai principle of equitable and inclusive development. To mitigate this, financial instruments such as risk-sharing mechanisms or premium pricing for credits originating in vulnerable regions should be integrated into the Article 6 framework.
The COP29 agreement on Article 6 sets the stage for substantial development in carbon markets, with savings estimated at $250 billion per year by 2030 for achieving Nationally Determined Contributions. This economic incentive can encourage higher ambitions in climate goals, but only if the system operates equitably and transparently. For example, Pakistan, as a climate-vulnerable country, could take advantage of these developments to develop carbon credit projects in sectors such as forestry and agriculture. By doing so, Pakistan can attract international financing and ensure that its participation is aligned with national climate priorities and sustainable development goals.
The COP’s ikigai represents a vision of a climate negotiation process that aligns ambition, capacity, equity and necessity, providing a path for a global response that is both effective and equitable. While the COP has made significant progress, particularly in the context of Article 6 negotiations, challenges remain, particularly in ensuring inclusion, equity and effective implementation. For the COP to truly embody its ikigai, it must deepen its commitment to balancing the voices of marginalized groups, integrating scientific rigor, and addressing historical and systemic inequities.
The success of mechanisms such as carbon markets depends on transparent, inclusive frameworks that uphold the principles of climate justice and support the most vulnerable nations. Ultimately, the COP’s vision must evolve beyond negotiations to become a transformative platform that promotes global, collaborative efforts for a sustainable and equitable future.
The author holds a doctorate in energy economics. He tweets @Khalidwaleed_
