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Thursday is sure to be a tense day at Cop29, as negotiators mull over new draft texts released early this morning. The document came as negotiators have been tasked with answering this summit’s key question: how much should rich countries pay for developing countries to cope with the climate crisis and decarbonize their economies? (You can check out my colleague Fiona Harvey’s stellar primer on the proposed answers here.)
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No one can seem to agree on a solution, so perhaps it should come as no surprise that the text marks the figure with an “[X]” will be hashed out later, but some supporters are already reacting with anger.
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“The text's caricatures show the positions of developed and developing countries on what the main goals should be.” Joe Thwaites, senior advocate for international climate finance at the NGO Natural Resources Defense Council he said in a statement Thursday morning.
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The draft includes two options for the goal, one for developing countries and one for developed countries.
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“The problem is the lack of hard numbers in the text,” said Mohamed Addou, director of environmental justice group Power Shift Africa.
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“We're here to talk about money. The way we measure money is in numbers,” he said. “I need a check, but all I have now is a blank piece of paper.”
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At Cop29, all the suggestions, jargon, numbers, or in this case lack thereof, can feel a little dizzying. But the stakes are high.
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“This agreement will define the landscape of climate finance for years to come,” Stephen Cornelius, deputy director of global climate and energy at the NGO World Wildlife Fund, said this morning. “Without adequate funding for climate action, catastrophic climate impacts cannot be prevented.”
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Negotiators will be tasked with their work in the coming days. Will they be able to reach an agreement? David Waskow, director of the nonprofit environmental organization World Resource Institute, says it's possible.
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“I think it's absolutely possible that we will see results here if the parties make a serious effort in the next 48 to 72 hours, and the parties will achieve that,” he said at a Thursday morning press conference. We recognize that there is a need.”
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For those keeping track, on paper Thursday should be the penultimate day of Cop29, but UN climate summits tend to be long. Exhausted delegates often continue negotiations into the early hours of weekend nights. That doesn't bode well for our sleep schedules, so always keep Guardian's field team in mind.
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main events
This morning, the new draft text is not well received by many in Baku. my colleague patrick greenfield Oscar Soria, director of the Common Initiative think tank, just sent me this.
The placeholder “X” on climate finance being negotiated by the NCQG is evidence of the inability of rich and emerging countries to find workable solutions for everyone. This is a dangerous ambiguity. Without action, we risk turning the “X” into a symbol of the extinction of the world's most vulnerable people. Without firm and ambitious commitments, this ambiguity will betray the promise of the Paris Agreement and leave developing countries without a weapon in the fight against the chaos of climate change.
Li Shuo, director of the China Climate Hub at the Asian Social Policy Research Institute, said:
“We are far from the finish line. The new financial text puts the two extremes of the aisle together with little in the middle. Importantly, the document also includes the preconditions for negotiating in good faith. One thing that is missing is the numbers that define the size of future climate finance.The text does little more than capture both sides' positions.
And Guardian Australia's climate and environment editor, Barbara Rosen Jacobson, Australia's senior adviser, said: Mercy Corps:
With one day left until the end of COP29, after years of negotiations, the latest draft of the NCQG still reflects clear divides, and the lack of clarity on how to bridge the gap is unacceptable. . The Global North must stop stalling and start compromising.
The lack of sub-goal options for adaptation is a major problem. Without dedicated funding, adaptation remains significantly underfunded, with the current adaptation financing gap estimated at between US$187 billion and US$359 billion annually. Similarly, the lack of strong provisions for loss and damage is of great concern. For vulnerable countries, loss and damage represents the irreversible impacts of climate change, such as the destruction of homes and loss of livelihoods. Having predictable additional funding for this is a survival necessity. However, the draft does not provide a solid framework, concrete targets or mechanisms to secure such funding, leaving vulnerable countries dependent on fragmented and inadequate institutions. .
Developed countries must meet their legal obligations by ensuring that final documents include targets for subsidies or subsidy equivalents from developed countries to developing countries, as well as fair burden-sharing mechanisms. This is not just a financial commitment. It's about climate justice. The NCQG's final document must serve the millions of people who are bearing the brunt of a crisis they did not cause.
Darna Noor
Thursday is sure to be a tense day at Cop29 as negotiators consider a new draft law released early this morning. The document comes as negotiators are tasked with answering the summit's key question: how much should developing countries pay to address the climate crisis and decarbonize their economies? Ta. (You can check out my colleague Fiona Harvey's excellent primer on the suggested answer here.)
No one seems to be able to agree on the solution, so I put “[X]” will be hashed out later, but some supporters are already reacting with anger.
“The text's caricatures show the positions of developed and developing countries on what the main goals should be,” Joe Thwaites, senior international climate finance advocate at the NGO Natural Resources Defense Council, said Thursday. He said this in a statement this morning.
The draft includes two options for the goal, one for developing countries and one for developed countries.
“The problem is the lack of hard numbers in the text,” said Mohamed Addou, director of environmental justice group Power Shift Africa.
“We're here to talk about money. The way we measure money is in numbers,” he said. “I need a check, but all I have now is a blank piece of paper.”
At Cop29, all the suggestions, jargon, numbers, or in this case lack thereof, can feel a little dizzying. But the stakes are high.
“This agreement will define the landscape of climate finance for years to come,” Stephen Cornelius, deputy director of global climate and energy at the NGO World Wildlife Fund, said this morning. “Without adequate funding for climate action, catastrophic climate impacts cannot be prevented.”
Negotiators will be tasked with their work in the coming days. Will they be able to reach an agreement? David Wascoe, director of the nonprofit environmental organization World Resource Institute, says it's possible.
“I think it's absolutely possible that we'll see results here if the parties make a real effort in the next 48 to 72 hours, and the parties will get there,” he said at a Thursday morning press conference. We recognize that there is a need.”
For those keeping track, on paper Thursday should be the penultimate day of Cop29, but UN climate summits tend to be long. Exhausted delegates often continue negotiations into the early hours of weekend nights. That doesn't bode well for our sleep schedules, so always keep Guardian's field team in mind.
welcome
good morning. Today is the 10th day of Cop29. I'm Matthew Taylor. We are following developments from Baku in what is supposed to be the penultimate day of the climate conference. If you have ideas or suggestions, please contact matthew.taylor@theguardian.com.
