The COP29 Climate Summit remains stalled. Delegations continue to negotiate an agreement while the organization begins to dismantle the facilities and many of the participants leave the capital of Azerbaijan.
Some UN officials have already warned that a final plenary meeting is not expected “until after dinner” – Baku time –, according to what he said. Guardian. This unofficial forecast would take the COP at least 24 hours beyond its official closing time.
The fight is the same as during the entire week of talks: agree on a figure of money that rich states agree to contribute to poor countries to contain CO2 emissions and adapt to climate change. The text they are discussing admitted that these countries need 1.3 trillion dollars in financing per year from 2030. But it estimates that the minimum that rich countries should contribute is 250 billion dollars.
Vulnerable states have said that is simply “unacceptable.” They want more. Brazil has proposed after the offer that the contribution be 300,000 million dollars per year from 2030 to 2035 and 390,000 million from that moment on as a “starting shot.”
On the other hand, the United States has entered into renegotiation saying that, based on what it cost to achieve the previous financial commitment of 100 billion annually, “the new objective will require more ambition and extraordinary scope.” The director of the Spanish Climate Change Office, Valvanera Ulargui, recalled that “the European Union is the largest climate contributor in the world. The important thing is to ensure that this public money is useful for developing countries and our commitment is to increase that contribution.”
But, after an extra night of talks, COP29 has entered a day of extension that resembles haggling.
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