COP29 has ended! What was the outcome of the talks?

As the 29th United Nations Climate Change Conference (COP29) was held in Baku, the capital of Azerbaijan, the pledge by developed countries to provide $300 billion in annual funding to combat climate change sparked controversy. Developing countries reacted to the agreement, stating that this amount is insufficient to cope with the climate crisis.

$300 BILLION ANNUAL PLEDGE

According to a statement made by the United Nations (UN), developed countries have agreed to provide $300 billion in annual climate finance, with a target to increase this to $1.3 trillion by 2035. However, this amount was found to be 'insufficient' by both the UN and developing countries.

UN Secretary-General Antonio Guterres expressed his disappointment, stating, “This amount is far from meeting the scale of the challenge we face. I was expecting a more ambitious outcome.” Simon Stiell, Executive Secretary of the UN Framework Convention on Climate Change (UNFCCC), assessed the situation by saying, “Countries did not get the outcome they wanted. We must double our efforts by COP30 next year.”

DEVELOPING COUNTRIES REACT

Developing countries stated that the agreement fell far short of their expectations. Expressing that they had expected an annual funding commitment of at least $1 trillion, these countries described the agreement as 'weak' and 'insufficient'.

Indian delegation representative Chandni Raina said, “This document is nothing more than an optical illusion. It can never cover the magnitude of the challenge we face. Therefore, we do not accept the document.” Marshall Islands representative Tina Stege stated, “We are leaving with a tiny fraction of the funding that vulnerable countries need. This agreement is not enough.”

African countries also expressed their disappointment with the result. The representative of Sierra Leone said, “This situation shows a lack of good will on the part of developed countries.”

2024 EXPECTED TO BE THE HOTTEST YEAR

While climate change discussions continue, a statement from the European Union's global observation platform, Copernicus, confirmed that 2024 will be the 'hottest year' on record. In the first 10 months of 2024, the global average temperature was measured at 0.71 degrees Celsius above the 1991-2020 period.

DIVISIONS

While developing countries want the US, Canada, and European countries to contribute more, they also emphasized that China and Gulf countries should provide financial support. Countries that are particularly harmed by the global temperature rise argue that developed countries are not fulfilling their responsibilities.

COP29 showed once again that although some steps have been taken regarding climate finance, the wide gap between the parties could not be bridged. These issues are expected to be brought back to the table at COP30, which will be held next year.

News Source: 12punto