COP29 has concluded with developing nations expressing dissatisfaction over the climate finance deal, arguing that the $300 billion per year they are promised by 2035 is inadequate. Despite being an improvement over the current $100 billion annually, the deal has sparked frustration within the developing world.
Mixed Reactions to the Deal
The deal, while significant in scale, has been met with widespread criticism from developing countries, who argue that the amount is insufficient to address the challenges they face. The deal includes a mix of grants and loans, which has caused further dissatisfaction.
India’s delegate, Chandni Raina, voiced her frustration after the deal was finalized, calling it “a paltry sum” and an “optical illusion.” She emphasized that the deal does not adequately tackle the scale of the climate crisis.
Despite their objections, developing nations were compelled to accept the deal, with many rich countries pointing to the upcoming presidency of Donald Trump, a climate skeptic, as a reason why this might be the best offer they would receive.
Richer Nations Criticized for Short-Term Vision
The wealthy nations’ reluctance to offer a more generous climate finance package has also been criticized. There is a growing recognition that, to effectively combat rising temperatures, wealthier countries must assist emerging economies in reducing emissions, as this is where the majority of global emissions growth has occurred in the past decade.
Next spring, countries will release new national plans outlining how they will limit their emissions over the next decade. A more substantial financial commitment at COP29 could have boosted these efforts and maintained global unity in tackling climate change.
Challenges in Organizing COP29
Facilitating an agreement among 200 countries on climate finance was always going to be difficult, but for Azerbaijan, the host country with no prior experience in COP negotiations, it proved even more challenging. Azerbaijan’s President Ilham Aliyev, who described oil and gas as a “gift from God,” faced criticism for his blunt remarks, which included accusations of “Western fake news media” spreading disinformation.
Azerbaijan’s oil and gas-dependent economy raised concerns about the suitability of the country to host a conference aimed at reducing reliance on fossil fuels. The frustration among senior negotiators was palpable, with some calling for COP reforms to ensure more effective climate discussions in the future.
The Growing Role of China
As the future role of the United States in climate talks becomes uncertain due to President-elect Trump’s policies, attention has shifted to China, the world’s largest carbon emitter. While China has not formally committed to cutting greenhouse gas emissions, it has agreed to contribute to climate finance on a voluntary basis, marking a significant step in its growing role in international climate discussions.
Li Shuo from the Asia Society Policy Institute noted that China’s increasing transparency about its financial support to developing countries in the global south could position the nation as a key player in future climate talks.
Trump’s Influence on COP29 Outcomes
Though Donald Trump was not present at COP29, his influence was felt throughout the conference. Many negotiators worked to “Trump-proof” the climate agreement, anticipating that a second Trump administration could undo years of progress. Richer nations pushed for commitments to increase funding by 2035, hoping to align this with a potential post-Trump US administration.
Bringing China into the fold, even on a voluntary basis, was also seen as a strategic move to strengthen international cooperation on climate change, despite the challenges posed by Trump’s climate policies.
The Rise of Confrontational Activism
Another noticeable development at COP29 was the more aggressive stance taken by environmental NGOs and activists. During the talks, campaigners intensified their calls for an outright rejection of the deal, with some even chanting “shame” as US climate envoy John Podesta left a meeting area.
The final plenary saw some countries vocally oppose the finance text, leading to loud cheers from activists. This confrontational activism may become a defining feature of future climate conferences, as NGOs continue to push for more urgent action.
Looking Ahead to the Next COP
As the dust settles on COP29, it’s clear that the division between rich and poor countries remains a major challenge for global climate negotiations. With increasing tensions and rising activism, the future of COP conferences may see a shift toward more direct confrontations and demands for greater accountability from wealthier nations. We’ll have to wait until the next COP to see how these dynamics evolve.
