Anatoly Maltsev/EPA
Billions of dollars must come from the richest countries, responsible for most of the pollution that is raising global temperatures. But there are those who are “very angry”.
240 billion euros per year until 2035 to help the poorest countries. This is the agreement celebrated this Friday in Baku, Azerbaijan, on the last day of COP29, an event that has generated over the last few weeks.
Richer countries must therefore guarantee poor countries this financing to combat climate change, since It is the most developed countries that pollute the most.
Now, country representatives have just a few hours to discuss the issue, which is raising problems: “I’m very angry. It’s ridiculous. Just ridiculous,” he said. Juan Carlos Monterrey GomezPanama’s special representative for Climate Change, cited by , who considered the proposed amount too low. “It seems like the developed world wants the planet to burn.”
Representatives of developed countries, on the other hand, seem to disagree: they guarantee that “no one feels comfortable with the number, because it is high and there is almost nothing about increasing the taxpayer base,” an unnamed European politician told Reuters.
The project “invited” developing countries to contribute voluntarily, the agency writes, but stressed that participation in climate finance would not affect their status as “developing” nations at the UN — a red line for countries like China and Brazil.
“We are not yet on a landing strip, but at least we are not in the air without a map”, commented Germany’s special climate envoy, Jennifer Morgan.
The Azerbaijani Yalchin Rafiyevsaid the draft agreement could be improved. “It does not correspond to our fair and ambitious objective, but we will continue to collaborate with the parties”, he guaranteed.
Furthermore, the draft agreement also sets a broader objective: to raise 1.25 billion euros in climate finance annually by 2035. This amount includes financing from all public and private sources.
“We are very far from 1.3 billion dollars,” he said M Riaz Hamidullahan official at the Ministry of Foreign Affairs of Bangladesh. “It’s a bit like haggling at the fish market, something we often do in our part of the world.”
Also Daniel Lunda Fiji negotiator, told Reuters that the financial agreement constitutes “a very low number relative to the available evidence on the scale of existing needs and understanding how these needs will evolve.”
