The presidency of Azerbaijan has now presented a resolution on climate finance at the UN climate conference. However, no specific amounts are mentioned and it is not specified whether only the traditional industrialized countries should remain donors (see video above).
It was discussed again and again that wealthy emerging countries such as China and the wealthy Gulf states could also make payments. The article runs to ten pages and was published early Thursday morning. Sometimes opposing views are simply contrasted with each other. The wording on reducing greenhouse gas emissions is vague, and indirect references are also made to previous resolutions.
EU rejects proposal
The EU immediately rejected the proposed resolutions. “This is clearly unacceptable as it stands,” EU Climate Commissioner Wope Hoekstra said at COP29. In the dispute over the amount of future payments, the association of states recently said that other important issues must be clarified first, but that China and the Gulf states must also contribute money. Thirty years ago these countries were classified as developing countries and therefore receiving countries.
Consensus before Friday?
The conference with tens of thousands of participants from almost 200 countries has been taking place since November 11. A consensus must be found on Friday. According to the UN, the need for external aid will amount to approximately one trillion dollars per year by 2030. That would be ten to thirteen times more than the current amount of climate aid.
“The draft text contains an option that rightly recognizes that trillions are needed. At the same time, no specific amount has been set for the climate finance target. This is a disregard for the needs of millions of people who are already suffering from the climate crisis,” criticized Jasmin Duregger of Greenpeace.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
