Many uncertainties still circulate in the corridors of COP29, in Azerbaijan. Time seems to run at a different speed than negotiations. Each nation came to Baku willing to defend its interests. Leaders were face to face at the negotiating tables and presented their proposals. They discussed, negotiated, gave in on some parts and not on others. A draft of the agreement that initially had 33 pages and included a series of issues, some broader demands, was modified. Reduced to 25 pages so far.
For many experts on the subject, it will not be an easy task. Negotiations are progressing very slowly. The success of this year’s COP29 depends on countries reaching agreement on a new annual funding target. This implies the involvement of several actors: rich and developing countries and the private sector.
It is estimated that developing countries need at least US$1 trillion per year by the end of the decade to tackle climate change. Some say that this is a very difficult number to reach.
UN leader presses G20 for climate support
The UN’s main climate representative, Simon Stiell, made an appeal, through a letter, to the leaders of the G20 who will be meeting in Rio de Janeiro. He asked representatives of the world’s largest economies to send a signal of support for global climate finance efforts. According to him, in this way, there will be a boost in the COP29 negotiations.
“Next week’s G20 must send absolutely clear global signals,” said Simon Stiell, executive secretary of the United Nations Framework Convention on Climate Change, in his letter.
Stiell highlighted that G20 representatives should support increased grants and loans. They also need to review some debts so that more vulnerable nations are not harmed. Which makes the boldest climate goals practically unfeasible.
This content was originally published in COP29: uncertainties mark the beginning of the second week of negotiations on the CNN Brasil website.
Source: CNN Brasil
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