In light of the urgent climate crisis, intense discussions commenced on the 11th day of COP29, where the issuance of the new climate target text this morning sparked widespread debate, revealing clear divisions between developed and developing countries. Achieving consensus seemed elusive as developed nations urged developing countries to be realistic in their demands, while developing nations argued that funding is available.
The criticism of the New Zealand Minister of Climate regarding the text, deeming it unproductive, is the hallmark of today, while Panama's call for fair financing highlighted the necessity for developed countries to take responsibility in climate action. Developing countries should not have to borrow to adapt to the effects of climate change caused by developed countries, which refuse to provide $1.3 trillion to save lives while spending multiples of that amount on war.
The Arab countries also rejected the developed countries' evasion of their historical responsibilities and also rejected their imposition of conditions related to human rights in order to obtain funding. Notably, the emphasis in the text on 'by 2035' instead of a more immediate timeline raised concerns about delays in the work.
Regarding the reduction of carbon emissions and combating the causes of climate change, discussions have regressed under pressure from major industrial countries and oil-producing nations, where references to the global shift towards renewable energy and future commitments for nationally determined contributions scheduled for submission in 2025 were removed, indicating a setback in climate efforts.
Reviewing Article 6.2 revealed a concerning trend towards voluntary disclosure in carbon trading activities, which undermines transparency—a fundamental principle in the COP29 agenda.
