Climate Talks in Baku Stall as Developing Nations Demand More Finance
BAKU: The world’s most climate-imperilled nations stormed out of consultations in protest at the deadlocked UN COP29 conference today, as simmering tensions over a hard-fought finance deal erupted into the open.
Finance Deal Stalls
Diplomats from small island nations threatened by rising seas and impoverished African states angrily filed out of a meeting with summit hosts Azerbaijan over a final deal being thrashed out in a Baku sports stadium.
"We’ve just walked out. We came here to this COP for a fair deal. We feel that we haven’t been heard," said Cedric Schuster, the Samoan chairman of the Alliance of Small Island States (AOSIS).
An unpublished version of the final text circulating in Baku, and seen by AFP, proposes that rich nations raise to US$300 billion a year by 2035 their commitment to poorer countries to fight climate change.
Developing Nations Demand More
COP29 hosts Azerbaijan intended to put a final draft before 198 nations for adoption or rejection this evening, a full day after the marathon summit officially ended. However, in a statement, AOSIS said it had "removed" itself from the climate finance discussions, demanding an "inclusive" process.
"If this cannot be the case, it becomes very difficult for us to continue our involvement here at COP29," it said.
Sierra Leone’s climate minister Jiwoh Abdulai, whose country is among the world’s poorest, said the draft was "effectively a suicide pact for the rest of the world."
Revised Offer Still Fails to Meet Demands
An earlier offer from rich nations of US$250 billion was slammed as offensively low by developing countries, who have demanded much higher sums to build resilience against climate change and cut emissions. UK energy secretary Ed Miliband said the revised offer of US$300 billion was "a significant scaling up" of the existing pledge by developed nations, which also count the US, European Union, and Japan among their ranks.
Diplomats Search for Common Ground
At sunset, a final text still proved elusive, as harried diplomats ran to-and-fro in the stadium near the Caspian Sea searching for common ground.
"Hopefully this is the storm before the calm," said US climate envoy John Podesta in the corridors as somebody shouted "shame" in his direction.
EU Wants Annual Review on Fossil Fuels
The EU in particular wants an annual review on global efforts to phase out fossil fuels, which are the main drivers of global warming. This has run into opposition from Saudi Arabia, which has sought to water down a landmark pledge to transition away from oil, gas, and coal made at COP28 last year.
Wealthy Nations Resist Direct Funding
Wealthy nations counter that it is politically unrealistic to expect more in direct government funding.
China Remains a Key Player
China, which remains classified as a developing nation under the UN framework, provides climate assistance but wants to keep doing so on its own voluntary terms.
Conclusion
The COP29 conference has failed to deliver a final deal on climate finance, leaving developing nations feeling frustrated and disappointed. The stalemate highlights the deep divisions between rich and poor nations on the issue of climate change, and the need for greater cooperation and compromise to address this global challenge.
Frequently Asked Questions
Q: What is the current state of climate talks at COP29?
A: The talks have stalled, with developing nations walking out of consultations in protest over a lack of progress on finance.
Q: What is the current offer from rich nations on climate finance?
A: Rich nations have offered to raise their commitment to US$300 billion a year by 2035, but developing nations are demanding much more.
Q: What is the position of China on climate finance?
A: China, the world’s largest emitter, remains classified as a developing nation under the UN framework and provides climate assistance on its own terms.
Q: What is the EU’s position on climate finance?
A: The EU wants an annual review on global efforts to phase out fossil fuels and is pushing for greater ambition on climate action.