Negotiations at the United Nations climate talks, which began on November 11 in Baku, Azerbaijan, reached a boiling point on Saturday as developing countries expressed strong dissatisfaction with the proposed climate finance deal.
The talks, which had extended into overtime, aimed to address funding for developing nations to combat and adapt to climate change. However, the draft proposal on the table, which suggested $300 billion in climate finance by 2035, was swiftly rejected by African nations and small island states.
Evans Njewa, chair of the Least Developed Countries (LDC) group, led a walkout along with other negotiators from the Alliance of Small Island States (AOSIS). The group made it clear they would not engage with the rough draft, calling it “unacceptable.” “We need to speak to other developing countries and decide what to do,” Njewa stated going to write on X formally Twitter ‘It was a disappointing outcome at COP29. We missed a chance to shield our most vulnerable from the climate crisis & heal our planet. Strong concerns remain over the adopted climate finance goal. Thanks to all who stood with us. We fight on!”
The proposal, which came after days of tense talks, promised $250 billion annually by 2035, a significant increase from the previous goal of $100 billion. However, experts argue that $1 trillion or more is needed each year to adequately address the impacts of climate change. The $300 billion figure discussed on Saturday was still far below the required amount.
Developing countries, including those from Africa and small island nations, accused wealthy nations of engaging in a “war of attrition” to push through a deal that benefits them but fails to address the real financial needs of poorer countries. Small island nations, which are especially vulnerable to climate change, voiced frustration with the host country’s presidency, claiming they had been ignored throughout the negotiations.
As the clock ticked down and ministers scrambled to catch flights home, there was growing concern that developing nations might be forced to accept a deal that would not meet their needs. Mohamed Adow from Power Shift Africa warned, “The risk is if developing countries don’t hold the line, they will likely be forced to compromise and accept a goal that doesn’t add up to get the job done.”
In the heat of the discussions, activists expressed their anger at the United States, accusing the country of not contributing its fair share to climate funding. “The US, in particular, and rich countries, need to do far more to show that they’re willing for real money to come forward,” Teresa Anderson from Action Aid told CNN.
Developing nations are seeking $1.3 trillion to help adapt to droughts, floods, rising seas and extreme heat, pay for losses and damages caused by extreme weather, and transition their energy systems away from planet-warming fossil fuels and toward clean energy. Wealthy nations are obligated to pay vulnerable countries under an agreement reached at these talks in Paris in 2015.
