The outcome at the UN-sponsored climate conference in Azerbaijan's capital, Baku, is not surprising. After intense negotiations through gruelling sessions, the wealthy have agreed on a deal that both civil society groups and delegates from developing nations criticised as lacking “the accelerating need”.
The deal at the 20th Conference of the Parties (COP29), also called the “Finance COP, amounts to a commitment by developed countries to help raise $300 billion in annual climate finance for developing countries by 2035 from public sources. This is less than a quarter of what they asked for.
Many government heads and campaigners were unsatisfied with the deal and said the fund would not be enough to help them deliver robust climate plans, and some even went to the extent of terming the fund as a “paltry sum.”
It may be noted that the Baku deal replaces the 2010 agreement that provided $100 billion to the developing world annually. In effect, with the new deal, the wealthy have left the poor to fend for themselves in their fight against climate disasters!
According to Climate Action Network South Asia, the amount for the climate finance goal is wholly inadequate, and quality is missing with no equity or justice reflected in the text. “The direction of finance from developed to developing countries did not come through,” it said.
Antonio Guterres, UN Secretary-General, said he had "hoped for a more ambitious outcome on both finance and mitigation - to meet the great challenge we face" and appealed to governments to see it as a starting point.
Simon Stiell, the head of the UN climate body, agreed that the promise is far from perfect. "No country got everything they wanted, and we leave Baku with a mountain of work still to do," he said in a statement.
The agreement comes at a time when widespread flooding, drought, heat waves and deadly landslides are killing thousands of people across Africa, Asia and South America.
We know that the world's green energy transition has already been slowed by war in Ukraine, and a resulting energy crisis, with governments slowing green reforms.
The agreed fund is for improving farming practices that will make them more resilient to weather extremes, for building houses that will resist storms, for helping people move from the hardest-hit areas, and for helping leaders improve emergency plans, and aid in the wake of disasters.
Interestingly, many of the heads of states responsible for a major part of greenhouse gas emissions did not attend the summit. Argentine delegates withdrew three days before.
Many observers also find an obstacle that is looming large from the incoming presidency of Donald Trump, a Republican who is also known as a climate sceptic. He has already raised doubts among some negotiators whether the US would pay into any climate finance goal.
The US alone is responsible for 20 per cent of global historic emissions despite being home to around 4 per cent of the world’s population.
But the fact is Donald Trump or any leader in this regard; apathy to deliver the necessary finance will not only stall climate action, but also put the lives of vulnerable women, men and children in poor countries in jeopardy while, polluters and profiteers continue to act with impunity.
The comfort from Baku is that the summit has kept the climate talks alive by laying the foundation on which the world could hope to construct a system of financing that will help the poor countries adapt the climate change.
Finally, our leaders should understand that climate changes will not wait for negotiations and any consequent amends. On the contrary, they should find a sustainable resource strategy to face the disasters.
Humanity cannot afford more empty promises! All countries, rich and poor, must adapt to climate change.
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