UN climate talks deadlocked over climate fund, goes into overtime

Baku, Nov 23 (IANS) As deadlock continued in the UN climate talks which have been underway for the past two weeks in Azerbaijan's capital and went into overtime on Saturday, civil society organisations representing millions of people across the world issued letters to developed countries and the G77 plus China.

Addressed to the G77 plus China, and hand-delivered to Ambassador and Permanent Representative of Uganda to the United Nations, Adonia Ayebare, at the UN Climate Change Conference (COP29) venue, the letter states that "the collective civil society constituencies and members present at COP29, and with broader global civil society behind us, wholeheartedly support you in rejecting the current negotiating text" regarding the climate finance goal.

The letter from 335 organisations went on to state how "no deal in Baku is better than a bad deal, and this is a very, very bad deal because of the intransigence of developed countries."

Responding to the climate talks going overtime, activist Harjeet Singh, Global Engagement Director for the Fossil Fuel Non-Proliferation Treaty Initiative, told IANS, "The extended climate talks lay bare the deep inequities in the multilateral process. The latest draft ignores the urgent needs of developing countries and the voices of climate justice advocates."

"The COP29 Presidency must ensure an inclusive and transparent process that centres those on the frontlines of the crisis. Developed countries must commit trillions, not empty promises -- anything less makes them squarely responsible for the failure of these talks and the betrayal of billions across the globe," Singh said.

Also hand-delivered by environmental non-governmental organisation (ENGO) representatives, Tasneem Essop, Executive Director of Climate Action Network, and Asad Rehman, Executive Director, War on Want, and COP29 Climate Justice Coalition coordinator, was a letter to the US, the European Union, the UK, Canada, Japan and other developed countries from 156 organisations.

Received by Trigg Talley, Special Presidential Envoy for Climate and Director of Climate Negotiations and Programmes, US Department of State, the letter expresses how deeply outraged civil society is at these developed countries' "destructive role in creating an unacceptable NCQG (New Collective Quantified Goal on climate finance) draft negotiating text."

"Instead of running away from their legal responsibilities, the organisations urged developed countries "to take the lead in transitioning from fossil fuels and providing public funding and technology to developing countries," it said.

The letter also reminded developed countries of how they are required to fulfil their commitments under the Paris Agreement and Climate Convention.

What's at stake at COP29, formally the 29th Conference of Parties to the UN Framework Convention on Climate Change (UNFCCC)?

COP29 has been dubbed the "climate finance COP" because parties are expected to establish a new global climate finance target.

This target, or new collective quantified goal (NCQG), is seen as one of the summit's main deliverables. It will replace the existing $100 billion goal that is due to expire in 2025.

Climate experts have pegged the new annual funding goal at between $1 trillion and $1.3 trillion, which would assist vulnerable nations to deal with loss and damage from climate change and to adapt to that change, including building out their clean-energy systems.

The latest draft delivered to negotiators on Friday, the final scheduled day for the climate talks, proposed rich countries commit $250 billion a year to help vulnerable nations cope with the warming planet and to accelerate the global switch to renewable energy.

Civil society climate and environment advocates were quick to react to that draft. Least Developed Countries (LDCs) reacted, saying: "The new COP29 draft text falls short. $250 billion waters down existing commitments, neglecting the special needs of LDCs & SIDS. For us, already on the frontline of climate devastation, this text is unworkable.”

Joining the issue, the Africa Group of Nations said, "Totally unacceptable and inadequate."

The new draft is potentially due soon later in the day.

"If this COP ends with a weak or nonexistent outcome," the letter said, developed countries will be the ones to blame.

Brazil, the host of the next COP, proposed $300bn at least from developed countries by 2030 and $390 billion by 2035 as a form of kick-starting the process of achieving $1.3 trillion per year by 2030.

"The US may leave the Paris Agreement. It increases our responsibility for COP30 also because a text like this will only result in further damage for humanity and the planet," Brazil Environment Minister Marina Silva said.

The Independent High-Level Expert Group on Climate Finance (IHLEG) report authors Vera Songwe, Nick Stern and Amar Bhattacharya agree.

IHLEG, launched by the COP 26 and COP 27 Presidencies, provides an independent perspective on the climate finance agenda.

Its third report said COP29 talks should be focussed on mobilising $1 trillion per year by 2030 in external finance from all sources for investments necessary by emerging markets and developing countries other than China, to deliver the Paris Agreement, and about $1.3 trillion by 2035.

The report warns: "Any shortfall in investment before 2030 will place added pressure on the years that follow, creating a steeper and potentially costly path to climate stability."

"The less the world achieves now, the more we will need to invest later. Delayed action means we will need to mobilise even larger sums in shorter timeframes to catch up on critical targets. Additionally, investment needs for adaptation and resilience, as well as loss and damage and restoration of nature, will rise sharply as climate and nature risks escalate," it said.

The Group, co-chaired by Amar Bhattacharya, Vera Songwe and Nicholas Stern, has been supporting the deliberations on the climate finance agenda under successive COP Presidencies since COP26.

(Vishal Gulati can be contacted at vishal.g@ians.in)

Disclaimer: This story has not been edited by the Sakshi Post team and is auto-generated from syndicated feed.