As COP29 entered its second week in Baku, Azerbaijan, the stakes grew higher, but negotiations faced mounting challenges. Divisions over climate finance, emissions targets, and fairness continued to dominate discussions, leaving little room for consensus.
1. Climate Finance: A Sticking Point
Developing nations rejected a proposed $200 billion climate finance target, calling it inadequate. They pushed for tripling current commitments by 2025 and at least $390 billion annually by 2035. A subsequent proposal of $250 billion annually by 2035 was labelled "unacceptable" by the African Group, with Small Island States demanding more ambitious action.
Australia and New Zealand contributed $38.5 million to the Loss and Damage Fund, raising the total to $750 million, but progress on adaptation funding stalled as vulnerable nations walked out in protest of low offers.
2. Carbon Market Controversy
New carbon market rules were approved, aiming to regulate global carbon credit trading. However, critics warned that these rules might allow weaker credits, undermining real emissions reductions.
3. Emissions Targets and Fossil Fuels
A draft text on climate finance revealed weak commitments to cutting emissions, with no clear plan to phase out fossil fuels or significantly boost renewable energy. This lack of ambition was a major source of frustration for climate advocates.
Mexico became the last G20 nation to pledge net zero by 2050, but experts say the country lacks a detailed roadmap to achieve its goal.
4. Gender Equality Talks
Discussions on gender equality further highlighted divisions, with disagreements over inclusive language and specific support for vulnerable groups.
With COP29 nearing its conclusion, the pressure is on:
The controversies surrounding COP29—particularly Azerbaijan’s role as host despite its reliance on fossil fuel exports—raise deeper questions. Can global climate summits truly lead by example if the host nations aren’t aligned with the goals?
As climate activists and nations clash over ambition and accountability, we want to hear your thoughts:
What do you think is needed to ensure these summits drive real change rather than just conversation?
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Let’s keep the conversation going—because the future depends on everyone stepping up. What’s your take?
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