EU climate chief Wopke Hoekstra criticized the draft climate text from COP29 as “clearly unacceptable”. Divisions between developing and industrialized countries have been revealed over a financing goal for climate change action in developing nations, with no agreement reached yet.
Divisions Between Developing and Industrialized Countries Revealed at COP29
The draft climate text from the COP29 conference in Baku, Azerbaijan has revealed the divisions between developing and industrialized countries as they try to reach agreement on a new finance goal.
Funding Goal for Climate Change Action in Developing Nations
Countries are divided over a financing goal to pay for climate change action in developing nations. The draft text shows two extreme and opposing views, with developing countries wanting industrialized nations to commit to an undefined funding goal in the trillions of dollars from 2025 to 2035.
Role of Richer Developing Countries in Climate Finance
One of the biggest sticking points throughout negotiations has been the role of richer developing countries, like China and the Gulf states, and whether they should be contributing to finance goals. Representatives of these nations expressed disappointment that there had still not been a figure proposed by industrialized states.
Call for Global Effort in Mobilizing Climate Finance
Representatives of the nations emphasized the need for a global effort to mobilize climate finance resources, and urged developed countries to put forward a serious, quantified financial proposal on the table. The lack of commitment felt like a “slap in the face” of the most vulnerable, according to Panama’s climate envoy.
Climate Summit to Continue into Weekend
The climate summit is officially due to end on Friday, but experts expect it to continue into the weekend. UN Secretary-General Antonio Guterres called on countries to make a “major push” to ensure a deal is made in Baku, emphasizing that “failure is not an option.”
EU Climate Chief’s Reactions
EU climate chief Wopke Hoekstra criticized the draft text, stating it was “clearly unacceptable.” He emphasized that there’s no single ambitious country who thinks this is nearly good enough. The text is largely divided into two different parts, reflecting the different options proposed by the developing bloc of countries on one hand, and industrialized nations on the other.
Climate Action and Fossil Fuel Transition
Delegates also voiced concerns that the text ignores an agreement made last year at COP28 in Dubai to aim for transitioning away from all fossil fuels in energy systems. Protesters at COP29 are calling for a phaseout of fossil fuels.
Reactions from Politicians and Civil Society Advocates
Wopke Hoekstra, EU commissioner for climate action, told reporters that “the text as it now stands is clearly unacceptable” and that there’s not a single ambitious country who thinks this is nearly good enough. Zinta Zommers, climate science lead at the UN office for the coordination of humanitarian affairs, expressed disappointment that industrialized states had still not proposed a figure.
Calls to Action
UN Secretary-General Antonio Guterres called on countries to make a “major push” to ensure a deal is made in Baku. Failure is not an option, he added. Shuo, director of the China Climate Hub at the Asia Society Policy Institute, said that finding a middle point is key and that it’s never going to be about finding a number that someone or everyone will wholeheartedly embrace.
Negotiations Remain at a Standstill
As the first draft of a text outlining a potential decision at the conference dropped, negotiators remain at a standstill over a new climate finance goal to help developing countries fight climate change. The climate summit is officially due to end on Friday, but experts expect it to continue into the weekend.
