The final draft text of COP29 mentions the need for “billions” of funding, but does not specify figures. The documents have satisfied neither rich nor developing countries, nor civil society organizations and environmentalists.
The COP29 confronted with you last piece negotiate five main texts proposed by the Azerbaijani presidency of the summit, following the proposals of the various countries on the new financing target, in which the unknown around the total amount which is promised to be allocated to climate finance.
On the penultimate day of the Baku climate summit – which is expected to end this Friday, although negotiations have stalled pending an extension – delegates, journalists and observers at COP29 have woken up to a series of texts outlining the presidency’s positions collected raised by the developing world and the developed world.
In addition to some notable advances, for example in the field of adaptation, the documents they are not satisfied neither for the rich countries nor for the developing countries, nor have they been welcomed by civil society organizations and environmentalists.
To name some of the latter: Greenpeace, WWF, Ecologistas and Acción, for example, have criticized the fact that the latest financial draft does not provide more concrete figures on how much the New Quantified Collective Objective (NOCC) should increase, the central theme of the discussions. In turn, Oxfam Intermón has missed a “clear commitment” to “more ambitious” climate finance.
Climate diplomacy specialist Linda Kalcher, from the organization Strategic Perspectives, has said the text “appears to be a bluff by the presidency” and stated that “it is clear that the majority of countries in the Global North have not put their cards on the table. .” , and they keep them.”
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
