Representatives say they were ignored in negotiations; proposal of US$250 billion per year to combat climate change was considered too low
Representatives of small island states and least developed countries abandoned, this Saturday (23.Nov.2024), a meeting with the presidency of the . The action is a protest against the value of financial transfers from developed countries to combat climate change.
“We abandoned the meeting […]. We feel like we weren’t heard,” declared the representative of Samoa, Cedric Schuster, on behalf of the group of island states, cited by the French agency. The meeting was held with the Azerbaijani presidency of the United Nations Conference on Climate Change, in Baku, Azerbaijan.
The text released by the current presidency of COP29, on Friday (22.Nov.2024), proposed that the amount to be mobilized annually was US$250 billion. The current value between countries, valid until 2025, is US$100 billion.
The amount was well received by developed countries, such as the United States and Australia, as well as representatives of the European Union. But it was rejected by countries in the Global South, who assessed the value as “unacceptable”. Least developed countries ask for US$500 billion to US$1.3 trillion per year until 2035.
The funding is aimed at helping these countries abandon fossil fuels and adapt to climate change associated with global warming without harming their economic development.
Environmental and social organizations present at COP29 said the summit will end with a “negative result” if the final agreement does not provide for financing “public, sufficient and predictable” for countries in the Global South.
The current project “puts it at risk” the Paris Agreement, according to a joint statement. For organizations, if the EU (European Union) wants to save the agreement, it will have to “act immediately”.
According to the organizations, the result will be “unchangeable in the next 10 years”that is, until 2035, when the commitments will be reviewed. Organizations such as , , , and .
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