COP29 climate talks commenced on Monday in Azerbaijan. Image: The Japan Times
(The Post News)- Several countries have assembled in Baku ahead of new warnings that 2024 could smash temperature records, adding pressure to a bitter struggle over funding for climate action in low-income countries.
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Once again, Trump had pledged to withdraw the United States from the landmark Paris climate agreement, which has raised concerns that this move has the potential to weaken ambition around the negotiating table. With the discussions now open, UN climate director Simon Stiell has addressed countries, emphasizing that now is the opportunity to demonstrate that global collaboration is not dead.Â
He also warns that wealthy countries are attempting to reach an agreement on a new spending target to dispel the misconception that climate finance is charity. Nonetheless, an ambitious new climate finance objective is completely in the best interests of all countries, particularly the largest and wealthiest.
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Climate negotiators are pressed to enhance the annual $100 billion commitment to assist developing countries in adapting to intensifying climate consequences and transitioning to renewable energy. The major points of contention include how much will be on offer, who will pay, and who can access the funds.
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Developing countries are currently pushing towards trillions of dollars and have insisted that the money should be mostly grants instead of loans, but negotiators are reserved over what the final figure may be. Moreover, these countries have warned that if there isn’t adequate finance, they will struggle to offer ambitious updates to their climate goals that are expected to be submitted by early next year from all countries.
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In the previous month, the UN gave a warning that the globe is on a path towards a catastrophic 3.1C of warming this century based on current actions, which goes against the climate deal that commits to keep warming below 2 degrees Celsius. Annalena Baerbock, Germany’s Foreign Minister, says that everyone knows that these negotiations will be a challenge but are worth it, as each tenth of a degree of warming avoided means fewer crises, less suffering, and less displacement.
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The talks will run from November 11 to November 22, with 51 000 people expected to be in attendance. For the second consecutive year, a nation heavily reliant on fossil fuels will host the talks, following the United Arab Emirates’ hosting last year.
Once again, Trump had pledged to withdraw the United States from the landmark Paris climate agreement, which has raised concerns that this move has the potential to weaken ambition around the negotiating table. With the discussions now open, UN climate director Simon Stiell has addressed countries, emphasizing that now is the opportunity to demonstrate that global collaboration is not dead.Â
He also warns that wealthy countries are attempting to reach an agreement on a new spending target to dispel the misconception that climate finance is charity. Nonetheless, an ambitious new climate finance objective is completely in the best interests of all countries, particularly the largest and wealthiest.
Â
Climate negotiators are pressed to enhance the annual $100 billion commitment to assist developing countries in adapting to intensifying climate consequences and transitioning to renewable energy. The major points of contention include how much will be on offer, who will pay, and who can access the funds.
Â
Developing countries are currently pushing towards trillions of dollars and have insisted that the money should be mostly grants instead of loans, but negotiators are reserved over what the final figure may be. Moreover, these countries have warned that if there isn’t adequate finance, they will struggle to offer ambitious updates to their climate goals that are expected to be submitted by early next year from all countries.
Â
In the previous month, the UN gave a warning that the globe is on a path towards a catastrophic 3.1C of warming this century based on current actions, which goes against the climate deal that commits to keep warming below 2 degrees Celsius. Annalena Baerbock, Germany’s Foreign Minister, says that everyone knows that these negotiations will be a challenge but are worth it, as each tenth of a degree of warming avoided means fewer crises, less suffering, and less displacement.
Â
The talks will run from November 11 to November 22, with 51 000 people expected to be in attendance. For the second consecutive year, a nation heavily reliant on fossil fuels will host the talks, following the United Arab Emirates’ hosting last year.
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