Many countries are asking for more than $1 trillion a year, ten times more than the current commitment that runs until 2025. “Stay on the ground. […] will leave too much ground to cover at COP29,” Babaev added, inviting countries to “bridge the gaps that [les] still separated in this final phase.
Sustainable Finance: Are Your Investments Really Green?
Green, sustainable, responsible finance. So many adjectives to define what is like squaring the circle, reconciling economic efficiency with the general interest and especially the fight against climate change. “Sud Ouest” tries to help you see things more clearly
A draft agreement on this goal (NCQG, in UN jargon) was unveiled at the end of August. It presented seven very contradictory options, reflecting the very strong tensions between the blocs. No new text could be settled before or during this technical meeting, which began in Baku on Monday in the presence of dozens of negotiators from around the world.
“Crash Anytime”
Developed countries, which are required by the 1992 UN Climate Convention to help the rest of the world in the name of their “historical responsibilities”, repeat that the sums requested are unrealistic for their public finances. Claiming that it is only 30% of historical emissions, they are asking to widen the base of contributors, especially in China and the Gulf countries, who do not want to hear about it.
“All the most sensitive issues are beyond the mandate of the technical negotiators” and therefore “neither the quantum issue nor the contributor base issue has really been addressed,” said Rebecca Thissen, an expert at the International Climate Action Network (CAN) , who participated. the work.