Nations have returned to the stalled UN climate negotiations, with hopes that G20 leaders meeting across the globe can galvanize support for a deal benefiting poorer nations.
At the midpoint of two weeks of discussions in a vast stadium in Azerbaijan, diplomats remain no closer to reaching an agreement that will determine the outcome of COP29.
Government ministers stepping in to lead the negotiations in Baku have until Friday to resolve the deadlock regarding how to finance the efforts of developing countries to combat global warming.
As pressure intensifies, G20 leaders are urged to endorse the stalled talks during their annual summit in Brazil.
Diplomats are still far from an agreement that will define the success or failure of COP29.
“The spotlight is clearly on the G20. They account for 80 percent of global emissions,” stated Mr. Guterres, who urged the group to “lead by example”.
Hosts facing challenges
The conference commenced under the shadow of Donald Trump’s re-election in the U.S., and support efforts for the global climate fight faced further setbacks when Argentina’s delegation withdrew from the summit.
The nearly 200 nations at COP29 are working to formulate a new agreement that ensures developing countries receive adequate funding to reduce emissions of greenhouse gases and enhance their resilience against worsening climate impacts.
This will necessitate $1 trillion (€948 billion) annually in external assistance by the end of the decade, as indicated by independent economists commissioned by the United Nations to evaluate the financial needs of developing nations, excluding China.
Countries vulnerable to climate change are seeking that a portion of this funding comes from developed nations, while donors assert they cannot shoulder this financial burden alone and that private sector involvement is essential.
Furthermore, they want wealthy emerging economies, particularly China, which are not obligated to provide climate finance, to contribute their fair share.
UN Secretary-General Antonio Guterres emphasized that the ‘spotlight is clearly on the G20’.
The European Union is the largest contributor to international climate finance but faces political and budgetary constraints, potentially leaving it vulnerable if the U.S. under Mr. Trump declines to pay its share.
While negotiations in Baku have progressed slowly, a meeting between Chinese and European officials was regarded as a small beacon of hope amidst an otherwise challenging week.
The host country, Azerbaijan, lacks the diplomatic experience necessary at a time when many observe that critical leadership is needed to navigate what are viewed as the most intricate climate negotiations in years.
Azerbaijan’s president, Ilham Aliyev, has faced criticism for defending fossil fuels, and his provocative comments regarding France’s colonial past led to the cancellation of a planned attendance by Paris’s climate envoy.
In addition to the financial deadlock, there is also contention surrounding whether countries at COP29 should reaffirm last year’s significant commitment to transition away from fossil fuels.
The debate over whether to add this topic to the official COP29 agenda caused a delay of several hours in the summit’s opening on the first day.
“We are extremely disappointed” that the initiatives aimed at reducing emissions were little more than a “blank page” at COP29, remarked Veronika Skolasztika Bagi, representing the EU.
