Developing countries rejected the proposal made by the Azerbaijani presidency of the UN Climate Change Conference. They aim for 1.3 trillion dollars a year by 2035. Negotiations will continue on Saturday.
The Azerbaijani presidency of the UN Climate Change Conference (COP29) proposed this Friday that the most powerful countries contribute $250 billion to developing countries’ climate finances by 2035 but it was rejected by “insufficient” by non-governmental organizations (NGOs) and several countries.
“The 250 billion dollars offered by developed countries are a spit in the face for vulnerable nations like mine,” said the negotiator of Panama, Juan Carlos Monterrey Gómezon his social network account X. Many developing countries had similar opinions.
Although the proposed amount is much higher than the current commitment of US$100 billion for the period 2020-2025, was far from the 1.3 trillion dollars a year by 2035 sought by NGOs and developing countries. Due to the lack of consensus, COP29 officially went into extension until this Saturday morning.
The rejection of developing countries
“It is insufficient,” said Marina Silvathe Brazilian Minister of the Environment. Although he considered that it is “a good basis to continue talking.” Silva proposed a contribution of US$300 billion annually by 2030 and US$390 billion by 2035.
“We cannot continue delaying objective issues from COP to COP”he remarked Silvawhose country will host COP30 2025 in the Amazonian town of Belém.
For his part, the negotiator Kenyan, Ali Mohamedpresident of the African group stated that the COP29 presidency proposal ““It’s totally unacceptable.”
For Diego Pacheconegotiator Boliviathe solution “It has to come out now, this is an issue that has already been postponed for several years, this is the time.”
The lack of consensus has generated disappointment in many of those attending. Mohamed Adow, from the Climate Action Network, described this summit as “the worst COP in recent history.”
Source: Ambito
