Developing nations blast $300-B COP29 climate deal as insufficient
BAKU — Countries at the Conference of the Parties (COP29) summit in Baku adopted a $300 billion a year global finance target on Sunday to help poorer nations cope with impacts of climate change, a deal its intended recipients criticized as woefully insufficient.
The agreement, clinched in overtime at the two-week conference in Azerbaijan’s capital, was meant to provide momentum for international efforts to curb global warming in a year destined to be the hottest on record.
Some delegates gave the deal a standing ovation in the COP29 plenary hall. Others lambasted wealthy nations for not doing more and criticized the Azerbaijan host for hurriedly gaveling through the contentious plan.
“I regret to say that this document is nothing more than an optical illusion,” Indian delegation representative Chandni Raina told the closing session of the summit, minutes after the deal was gaveled in. “This, in our opinion, will not address the enormity of the challenge we all face. Therefore, we oppose the adoption of this document.”
United Nations (UN) climate chief Simon Stiell acknowledged the difficult negotiations that led to the agreement but hailed the outcome as an insurance policy for humanity against global warming.
“It has been a difficult journey, but we’ve delivered a deal,” Mr. Stiell said. “This deal will keep the clean energy boom growing and protect billions of lives.
“But like any insurance policy, it only works if the premiums are paid in full, and on time.”
The agreement would provide $300 billion annually by 2035, boosting rich countries’ previous commitment to provide $100 billion per year in climate finance by 2020. That earlier goal was met two years late, in 2022, and expires in 2025.
The deal also lays the groundwork for next year’s climate summit, to be held in the Amazon rainforest of Brazil, where countries are meant to map out the next decade of climate action.
The summit cut to the heart of the debate over financial responsibility of industrialized countries — whose historic use of fossil fuels has caused the bulk of greenhouse gas emissions — to compensate others for worsening damage from climate change.
It also laid bare divisions between wealthy governments constrained by tight domestic budgets and developing nations reeling from costs of storms, floods and droughts.
Negotiations had been due to finish on Friday but ran into overtime as representatives from nearly 200 countries struggled to reach consensus. Talks were interrupted on Saturday as some developing countries and island nations walked away in frustration.
“We are leaving with a small portion of the funding climate-vulnerable countries urgently need. It isn’t nearly enough, but it’s a start,” said Tina Stege, Marshall Islands climate envoy.
Nations have been seeking financing to deliver on the Paris Agreement goal of limiting global temperature rise to 1.5 degrees Celsius (2.7 degrees Fahrenheit) above pre-industrial levels — beyond which catastrophic climate impacts could occur.
The world is currently on track for as much as 3.1 C (5.6 F) of warming by the end of this century, according to the 2024 UN Emissions Gap report, with global greenhouse gas emissions and fossil fuels use continuing to rise.
Sunday’s deal failed to set out detailed steps for how countries will act on last year’s UN climate summit pledge to transition away from fossil fuels and triple renewable energy capacity this decade. Some negotiators said Saudi Arabia had attempted to block such a plan during the talks.
“There’s definitely a challenge in getting greater ambition when you’re negotiating with the Saudis,” said US climate adviser John Podesta.
A Saudi official did not immediately provide comment.
WHAT COUNTS AS DEVELOPED NATION?
The roster of countries required to contribute — about two dozen industrialized countries, including the US, European nations and Canada — dates back to a list decided during UN climate talks in 1992.
European governments have demanded others pay in, including China, the world’s second-biggest economy, and oil-rich Gulf states. The deal encourages developing countries to make contributions but does not require them.
The agreement includes a broader goal of raising $1.3 trillion in climate finance annually by 2035 — which would include funding from all public and private sources and which economists say matches the sum needed to address global warming.
Countries also agreed on rules for a global market to buy and sell carbon credits that proponents say could mobilise billions more dollars into new projects to fight global warming, from reforestation to deployment of clean energy technologies.
Securing the climate finance deal was a challenge from the start.
Donald Trump’s US presidential election victory this month has raised doubts among some negotiators that the world’s largest economy would pay into any climate finance goal agreed in Baku. Mr. Trump, a Republican who takes office in January, has called climate change a hoax and promised to again remove the US from international climate cooperation.
President Joseph R. Biden congratulated the COP29 participants for reaching what he called an historic agreement that would help mobilize needed funds, but said more work was needed.
“While there is still substantial work ahead of us to achieve our climate goals, today’s outcome puts us one significant step closer. On behalf of the American people and future generations, we must continue to accelerate our work to keep a cleaner, safer, healthier planet within our grasp,” Mr. Biden said in a statement.
Western governments have seen global warming slip down the list of national priorities amid surging geopolitical tensions, including Russia’s war in Ukraine and expanding conflict in the Middle East, and rising inflation.
The showdown over financing for developing countries comes in a year scientists predict will be the hottest on record. Climate woes are stacking up, with widespread flooding killing thousands across Africa, deadly landslides burying villages in Asia, and drought in South America shrinking rivers.
Developed countries have not been spared. Torrential rain triggered floods in Valencia, Spain, last month that left more than 200 dead, and the US so far this year has registered 24 billion-dollar disasters — just four fewer than last year. — Reuters
The program was led by Xavier Leroux, Executive Director of Alliance Française de Manille; and Kevin Charuel, Managing Director of CCI France Philippines. Warm opening remarks were delivered by Rémy Tirouttouvarayane, Deputy Head of Mission at the Embassy of France in the Philippines; and Marie-Maylis Charlat, President of the France Philippines United Action Foundation (FPUA), setting the tone for an evening dedicated to collaboration and sustainable innovation.
During the event, Simon Bernard, President and Co-Founder of Plastic Odyssey, delivered an inspiring presentation on the global initiative’s mission to combat plastic pollution through innovative recycling technologies and educational campaigns. He showcased how the expedition has been transforming plastic waste into valuable resources, fostering a global network of local recycling initiatives, and inspiring communities to adopt sustainable practices.
The event also saw the launch of the “Youth for Dagat” program, a school-based initiative aimed at empowering Filipino youth to take action against plastic pollution. Spearheaded by the France Philippines United Action Foundation (FPUA), the program emphasizes environmental education, equipping students with practical tools to understand and address the harmful impacts of plastic waste. Alexandra Acedillo, FPUA Project Coordinator, underscored the program’s mission to nurture a new generation of environmental advocates by fostering grassroots engagement and promoting actionable solutions.
Funded by the Embassy of France to the Philippines, the Youth for Dagat program forms part of the Embassy’s Blue Nations initiative, which seeks to strengthen collaboration between France and the Philippines on maritime and climate issues. It also serves as a preparatory step for the 2025 United Nations Ocean Conference (UNOC) in Nice, reaffirming the commitment of both nations to environmental sustainability and ocean preservation.
This opening event marked a significant milestone in fostering cross-cultural partnerships to address one of the planet’s most pressing environmental challenges. By bringing together key stakeholders and innovative solutions, it set the stage for meaningful collaboration and action toward a sustainable future.
A special guest — French director Noémie Lefort — has been invited to the Philippines for the occasion. She will present her movie My Heroin, based on her own story about a young girl who dreams of directing a film in Hollywood. She will take part in a round-table discussion at SM City North EDSA Cinema on Nov. 26 about the place of women in cinema, both in front of and behind the camera, alongside prominent women involved in the Philippine film industry. She will also give a master class on film directing to film students at the University of the Philippines.
This partnership aims to make advanced Dash Cam technology more accessible to the Filipino market, reinforcing both companies’ commitment to safety and innovation.
The DAHUA Dash Cam x VST ECS partnership is set to drive significant growth in the automotive and security markets, providing consumers with reliable, high-performance dash cam solutions. The collaboration promises to foster further innovation and expand the availability of smart road safety technologies in the Philippines.
