COP29 delegates still far from reaching consensus

We are already in the second week of COP29 discussions, but delegates have yet to reach an agreement. Meanwhile, preparations for COP30 are already underway.

Discussions stalled after the initial proposal sparked widespread anger. Delegates need to reach consensus over deep divisions over how to increase international climate finance.

Host Azerbaijan announced preliminary agreements on Thursday. However, they failed to address important issues such as the source and amount of funding that could be mobilized to help developing countries.

One of the key causes of global warming, the use of fossil fuels, has also been largely unaddressed. More than 60 countries took turns criticizing the possible deal, leading to a heated five-hour debate.

With only a day to go, there didn’t seem to be much consensus. A number of countries, such as the US, Panama and Vanuatu, were adamant that the final deal must recognize the historic commitment made at last year’s CoP meeting in Dubai. Increase efficiency, move away from fossil fuels and expand the use of renewable energy.

However, on behalf of the Arab group, Saudi negotiator Albara Tawfik said Riyadh was against the goal of a global stocktake to reaffirm last year’s fossil fuel pledge. The kingdom warned that Arab countries “will not accept any text targeting specific sectors, including fossil fuels.”

Separately, developing countries have criticized rich countries such as the US and EU for being unclear about the money they are willing to pay. On the other hand, the US and EU responded by saying that the proposed deal did not meet their emissions reduction goals. Obviously, the annual meeting ends up being just another event on a calendar without events.

Brazil is already looking forward to COP30 next year. Belém, Brazil, will host the climate summit next year. Amid booming oil production, Brazil is seeking to establish itself as a climate leader.

COP30 provides a valuable chance to do just that. Belem is known as the entry point to the Amazon jungle. However, some are concerned that the small coastal town does not have the necessary infrastructure to host COP meetings.

Andre Correa Do Lago, Brazil’s climate, energy and environment minister, said Belem’s location would be an advantage. He said: “We’re not trying to hide the problems we have and, as you know, deforestation is our main source of emissions.” He added: “So we’re leading the world to where we have the biggest emitter, and we’re going to show the world how complex the Amazon region is.”