Watch the video – Al Gore and Climate TRACE unveil groundbreaking data to target high-impact emissions reductions
- COP29 has not delivered the ambitious climate finance goal and was close to not delivering a target at all.
- A new global target to channel $1.3tn of climate finance to developing countries by 2035 has been set which includes a new core finance goal of $300bn that triples the previous $100bn target.
- This fell short of the $1.3 trillion poorer countries had ask for to help them fight the climate battle.
- The deal passed after some of the nations most vulnerable to the effects of climate change walked out of a key meeting at the summit.
- Like COP28 deal, the phrasing in this year again calls for a global transition away from fossil fuels.
This year’s COP has raised serious question of credibility and question marks over why major oil and gas producing countries are hosting the event. The CEO of COP29 was caught facilitating a fossil fuel deal for Azerbaijan. Read more
Related news: Authoritarian fossil fuel states keep hosting climate conferences, how do these regimes operate and what do they want?
Former US vice-president now climate campaigner Al Gore said it is ‘absurd’ that the presidency of the UN climate talks is being repeatedly handed to petrostates.
In his closing statement of UN Secretary-General António Guterres said that he had hoped for a more ambitious outcome.
‘COP29 comes at the close of a brutal year – a year seared by record temperatures, and scarred by climate disaster, all as emissions continue to rise. Finance has been priority number one. Developing countries swamped by debt, pummelled by disasters, and left behind in the renewables revolution, are in desperate need of funds. I had hoped for a more ambitious outcome – on both finance and mitigation – to meet the great challenge we face. But this agreement provides a base on which to build,’ said Guterres.
Author: Bryan Groenendaal
