COP29: An Initiative of Ethics, Climate Concerns, or Commercial Interests?
COP29 in Azerbaijan was widely regarded as a failure, particularly by developing countries that condemned the summit for its disorganization and inability to meet its climate finance goals. These nations voiced serious concerns about the COP process's effectiveness in tackling the urgent and alarming trends of global warming.
'We Have Seen What You Have Done'
India has levelled serious accusations against the presidency of COP29 and the UN Climate Change Secretariat, alleging that they have been "stage-managing" the decision-making process surrounding a critical new climate finance agreement. This controversy emerged after India expressed frustration over not being allowed to formally voice its objections to the proposed deal before its adoption during the closing plenary session of COP29, which took place in Baku. The situation has raised concerns about transparency and inclusivity in international climate negotiations, highlighting India's feelings of being sidelined in a process that significantly affects global climate finance. The adopted decision states that developed countries will mobilize $300 billion annually by 2035 to assist developing countries in tackling climate change, which is significantly lower than the $1.3 trillion per year that developing nations had initially sought. Typically, all decisions at UN climate conferences require consensus, and objections must be heard before adoption. However, COP29 President Mukhtar Babayev declared the deal "adopted" without allowing for objections.
India and other nations, including Bolivia, Nigeria, and Cuba, subsequently rejected the deal, criticizing it as insufficient and a dilution of developed countries' responsibilities under the Paris Agreement. They argued that the proposed funding falls short of the estimated $6.852 trillion needed by developing countries, labelling the $300 billion figure as “abysmally poor.” Concerns were also raised about the extended timeline for mobilizing funds, which further shifts responsibility away from developed nations.
The world's largest climate summit should create an opportunity for ambitious, open, and constructive discussions about the climate crisis. However, the choice of yet another country with a strong fossil fuel industry and a poor record on human rights as the host for COP raises significant concerns about the conference's ability to drive meaningful change.
Was COP29 in Azerbaijan a failure? Developing countries criticized the summit for being poorly organized, claiming it fell short of its climate finance goals. They also expressed concerns about the COP process's effectiveness in addressing alarming global warming trends.
(The above story first appeared on LatestLY on Nov 26, 2024 09:04 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).