On the ninth day of COP29 in Baku, Azerbaijan, discussions brought to light significant disagreements between developed and developing nations, particularly regarding climate finance and priorities for climate action.
A proposed range of $200–300 billion per year for public climate finance under the New Collective Quantified Goal (NCQG) was rejected by large developing countries, including members of the Like-Minded Developing Countries (LMDC) group. Representatives from these nations argued that the proposed figure were inadequate to meet their climate needs. Diego Pacheco, speaking on behalf of the LMDC, stated that the suggested amount was insufficient to fund necessary emissions reductions, adaptation measures, and capacity building.
Additionally, some least developed countries expressed concerns about being included in the donor pool for the NCQG. They argued that contributing to such a large financial target would place strain on their own resources, which are already limited. This pushback added another layer of complexity to the negotiations, highlighting disparities in responsibilities and expectations between countries.
Concerns Over Mitigation and Adaptation at COP29
Developing nations at COP29 criticised the focus on mitigation, arguing it overshadowed urgent adaptation needs. They expressed frustration that the talks prioritised emissions reduction without addressing the funding and support required to help vulnerable countries cope with the impacts of climate change, such as extreme weather and rising sea levels.
Adaptation negotiations also stalled due to disagreements over funding and measurement indicators. Developing countries emphasised that the current commitments from wealthier nations are far below the estimated $215 – 387 billion needed annually. African representatives and other negotiators called for significantly increased adaptation funding by 2025, while developed nations reiterated their pledge to double funding to $40 billion, a target many consider inadequate given the growing scale of climate impacts. These divisions continue to prevent progress on key outcomes.
Financial Commitments for Loss and Damage
Australia and New Zealand announced pledges to fund loss and damage caused by climate change, aiming to support nations facing irreversible impacts like floods and displacement. These funds are expected to help recovery efforts and improve resilience in affected regions. While details were limited, the pledges were welcomed as a step toward addressing the urgent needs of vulnerable countries and setting a precedent for further contributions from developed nations.
As COP29 nears its end, divisions between developed and developing nations remain unresolved. Disagreements over the amount and distribution of climate finance, the focus on adaptation versus mitigation, and expectations for contributions to the NCQG continue to stall progress. The outcomes of these negotiations will play a critical role in shaping the global response to climate change and ensuring that the needs of all countries are addressed.
We use technologies like cookies to store and/or access device information. We do this to improve browsing experience and to show (non-) personalized ads. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional cookies
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.