Wrong again climate denierQuote:
Originally Posted by taxexile
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Wrong again climate denierQuote:
Originally Posted by taxexile
New draft text published
The new draft text has just been published here.
The new text on the all-important finance target “calls for” $1.3tn by 2035 - that’s what developing countries asked for - but what kind of finance remains important - grants, loans, private?
It “decides” on $250bn for developing countries by 2035 - that’s in the ballpark of the figures that have been frequently mentioned for the “core” funding, though $300bn was at the top end. This might be the start of a haggle.
It “invites developing country parties to make additional contributions” - nations like China and Saudi Arabia will like that - they are still officially developing countries in UN climate talks and very strongly reject any calls to be obliged to contribute.
But this it just the latest iteration of the text
blow it out of your arse methane man.
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^12 year old climate denier
Developing countries urged to reject ‘bad deal’ as Cop29 climate talks falter
Developing countries were being urged by civil society groups to reject “a bad deal” at the UN climate talks on Friday night, after rich nations refused to increase an “insulting” offer of finance to help them tackle the climate crisis.
The stage is set for a bitter row on Saturday over how much money poor countries should receive from the governments of the rich world, which have offered $250bn a year by 2035 to help the poor shift to a low-carbon economy and adapt to the impacts of extreme weather.
That is “nowhere near enough” according to poor country groupings and campaigners at the talks. “This is unacceptable,” said the Alliance of Small Island States in a statement. Climate finance at this level would not enable countries to green their economies to the extent needed to limit global heating to 1.5C above preindustrial levels, they warned. “The proposed $250bn a year by 2035 is no floor, but a cap that will severely stagnate climate action efforts.”
The Global Campaign to Demand Climate Justice said there were growing calls for a walkout, and that “no deal is better than a bad deal”, as the Cop29 UN climate summit dragged on through Friday night. There is still no end in sight to the talks, which were scheduled to finish on Friday at 6pm Baku time.
Wafa Misrar, the campaigns and policy lead of Climate Action Network Africa, said: “[This is] a profound disrespect to the people on the frontlines of the climate crisis – those losing their lives, homes and livelihoods every day. It is disheartening to witness the lack of commitment from global north countries, who seem willing to disregard our realities.”
Safa’ Al Jayoussi, the climate justice lead at Oxfam International, said: “This is a shameful failure of leadership. No deal would be better than a bad deal, but let’s be clear – there is only one option for those grappling with the harshest impacts of climate collapse: trillions, not billions, in public and grants-based finance.”
According to the draft text of a deal circulated on Thursday, developing countries would receive at least $1.3tn a year in climate finance by 2035, which is in line with the demands most submitted in advance of this two-week conference.
But poor nations wanted much more of that headline finance to come directly from rich countries, preferably in the form of grants rather than loans. They said the offer of $250bn coming from rich countries, with few safeguards over how much would come without strings attached, was much too little.
On Friday evening Greta Thunberg called the current draft “a complete disaster”. “The people in power are yet again about to agree to a death sentence to the countless people whose lives have been or will be ruined by the climate crisis,” she posted on X. “The current text is full of false solutions and empty promises. The money from the global north countries needed to pay back their climate debt is still nowhere to be seen.”
The offer from developed countries is supposed to form the inner core of a “layered” finance settlement, accompanied by a middle layer of new forms of finance such as new taxes on fossil fuels and high-carbon activities, carbon trading and “innovative” forms of finance; and an outermost layer of investment from the private sector, into projects such as solar and windfarms.
These layers would add up to $1.3tn a year, which is the amount that leading economists have calculated is needed in external finance for developing countries to tackle the climate crisis. Many activists have demanded more – figures of $5tn or $7tn a year have been put forward by some groups, based on the historic responsibilities of developed countries for causing the climate crisis.
But rich countries are facing their own budgetary crises, with rampant inflation, wars including the one in Ukraine, the aftermath of the Covid pandemic and threats from rightwing parties to weaponise the climate crisis as an issue.
Steven Guilbeault, Canada’s climate minister and a former green activist, said: “Countries like Canada are not denying what the needs are. We have made it clear that we cannot get to trillions with public dollars. It’s simply not possible.”
Most countries – and campaigners – know this, he added. “Some people are being disingenuous. They have known from the beginning that we would get to trillions with public money. Our public would not allow that to happen, but we can mobilise more than we have so far and that’s exactly what we are doing.”
Azerbaijan, which holds the presidency of the talks, also came in for criticism on Friday as countries complained that draft texts of an agreement left out and played down a key commitment to “transition away from fossil fuels”.
That commitment was made a year ago at the Cop28 talks in Dubai, but some countries want to unpick it. Saudi Arabia has been widely accused of taking the commitment out of drafts at every opportunity, to the fury of developed countries that want to build on the commitment to force a global shift away from high-carbon energy.
Yalchin Rafiyev, the chief negotiator for Azerbaijan, responded by accusing rich countries of failing to come up with an adequate offer of climate finance. “It [the $250bn] doesn’t correspond to a fair and ambitious goal,” he said.
Delegates expect a further draft text on Saturday morning. That will also be subject to fierce negotiations and potentially further iterations.
Cop29: wealthy countries agree to raise climate finance offer to $300bn a year
Major rich countries at UN climate talks in Azerbaijan have agreed to lift a global financial offer to help developing nations tackle the climate crisis to $300bn a year, as ministers met through the night in a bid to salvage a deal.
The Guardian understands the Azeri hosts brokered a lengthy closed-door meeting with a small group of ministers and delegation heads, including China, the EU, Saudi Arabia, Brazil, the UK, US and Australia, on key areas of dispute on climate finance and the transition away from fossil fuels.
It came as the Cop29 summit in Baku, which had been due to finish at 6pm Friday, dragged into Saturday morning. A plenary session had been planned for 10am but did not eventuate.
The developing world reacted with anger to a draft $250bn climate finance target on Friday, dismissing it as a “joke” and far below the amount that is needed to help the poor shift to a low-carbon economy and adapt to the impacts of extreme weather. It prompted a diplomatic effort behind the scenes to increase the offer from developed nations.
Multiple sources said the EU and several members of the umbrella group of countries including the UK, US and Australia had indicated they could go to $300bn in exchange for other changes to a draft text released on Friday.
The Guardian understands that the UN secretary general, António Guterres, was ringing round capitals to push for a higher figure. Japan, Switzerland and New Zealand were understood to be among the countries resistant to the $300bn figure late on Friday.
A $300bn offer would still fall well short of what developing countries say is necessary, and would likely draw sharp criticism if included in an updated text expected later on Saturday. But with some ministers booked to leave Baku in the hours ahead, countries face a decision on what they are prepared to accept.
Several ministers from rich nations have argued that a deal may be easier now than next year, when Donald Trump will be US president and right-wing governments could be returned at elections in several countries, including Germany and Canada, and they do not want to make a commitment they cannot meet.
Claudio Angelo, from Observatório do Clima in Brazil, said rich countries had “clearly arrived to ditch their obligations”. “After three years of negotiations the first time we ever saw quantum in the text was yesterday,” he said.
He said $300bn in grant funding was “way, way below” what developing countries needed. “Remember, many of them are already in deep debt,” he said. “To have climate finance as the current text proposes will only entrap those countries more.”
According to the draft text of a deal circulated on Friday, developing countries would receive at least $1.3tn a year in climate finance by 2035, which is in line with the demands most submitted in advance of this two-week conference.
But poor nations wanted much more of that headline finance to come directly from rich countries, preferably in the form of grants rather than loans. They said the offer of $250bn coming from rich countries, with few safeguards over how much would come without strings attached, was much too little.
The offer from developed countries is supposed to form the inner core of a “layered” finance settlement, accompanied by a middle layer of new forms of finance such as new taxes on fossil fuels and high-carbon activities, carbon trading and “innovative” forms of finance; and an outermost layer of investment from the private sector, into projects such as solar and windfarms.
These layers would add up to $1.3tn a year, which is the amount that leading economists have calculated is needed in external finance for developing countries to tackle the climate crisis. Many activists have demanded more – figures of $5tn or $7tn a year have been put forward by some groups, based on the historical responsibilities of developed countries for causing the climate crisis.
While climate finance is the major focus at Cop29, other issues also remain unresolved. Azerbaijan, which holds the presidency of the talks, has been criticised for playing down a key commitment to “transition away from fossil fuels” in draft texts.
That commitment was made a year ago at the Cop28 talks in Dubai, but some countries want to unpick it. Saudi Arabia has been widely accused of taking it out of drafts at every opportunity, sparking fury from countries that want to explicitly emphasise the need to move away from coal, oil and gas and towards renewable energy.
The hidden $100bn issue
Our reporters Dharna Noor and Patrick Greenfield have hit upon a problem that makes the sums of money on the table at Cop29 considerably smaller than people may first think.
The proposed text on climate finance released at Cop29 makes no mention of inflation. This makes a massive difference to the scale of finance being discussed.
In 2009, developed countries agreed that by 2020, they would collectively mobilize $100bn per year to support developing countries’ decarbonization and adaptation plans. US dollar inflation was 20.6% in this time period.
But when monitoring contributions, inflation was not taken into account, the OECD confirmed to the Guardian. As a result, the target became easier to meet over time, though countries met it late.
The Cop29 draft texts released on Friday set a new proposed finance goal: $250bn by 2035. But they will not rise over time to keep pace with inflation.
This has a very big impact on numbers, as the analysis shows below.
$100bn in 2009 dollars would equal $145.3bn today if we adjust for US inflation in this time period.
Returning to the proposed $250bn target, that becomes $345bn if we assume the average annual inflation rate of the US of 2.38% over the last 15 years, according to a back-of-the-napkin calculation from my colleague Patrick Greenfield.
“Agreeing a figure of $250 billion mobilised per year by 2035 would not only be inadequate but shameful. Adjusted for inflation, it represents virtually no increase in public finance from developed countries beyond the $100 billion commitment made 15 years ago,” Salomé Lehtman, project and advocacy advisor at Mercy Corps, said.
And $390bn annually – the number proposed in a study by top academics as fair and in line with the Paris agreement – would in 2035 be $538bn in today’s money, assuming the same rate of inflation.
“Targets will need to adjust for inflation over time,” Amar Bhattacharya, the executive secretary of the UN’s independent high-level expert group on climate finance and co-author of the study, told the Guardian.
Put another way, the proposed $250bn target for 2035 is really a $197.6bn target, assuming the same inflation rate. This means the target is not even a doubling.
“The proposed climate finance goal in the latest text is an embarrassment,” said Collin Rees, a manager at the climate justice NGO Oil Change International, who shared calculations from the IMF with the Guardian.
The Guardian
There is some good news but I wanted to put this out first……
Revealed: Saudi Arabia accused of modifying official Cop29 negotiating text
A Saudi Arabian delegate has been accused of directly making changes to an official Cop29 negotiating text, it can be revealed.
Cop presidencies usually circulate negotiating texts as non-editable PDF documents to all countries simultaneously, and they are then discussed. Giving one party editing access “risks placing this entire Cop in jeopardy”, one expert said.
Oil-rich Saudi Arabia is regarded by many as a persistent obstructor of action at UN climate summits to cut the burning of fossil fuels and has been described as a “wrecking ball” at Cop29.
Earlier on Saturday, a document was circulated by the Azerbaijani presidency with updates to the negotiating text on the just transition work program (JTWP). This aims to help countries move to a cleaner and more resilient future, while reducing inequalities.
The document was sent with “tracked changes” from the previously circulated version. In two cases, the document showed edits were made directly by Basel Alsubaity, who is from the Saudi ministry of energy and the lead on the JTWP. It was not sent to other countries to edit, the Guardian was told.
One of the changes deletes a section of text reading “encourages parties to consider just transition pathways in developing and implementing NDCs, NAPs and LT-LEDSs that are aligned with the outcome of the first global stock take and relevant provisions of the Paris agreement”. (NDCs are nationally determined contributions, NAPs are national adaptation plans and LT-LEDs are long-term low emission development strategies.)
Catherine Abreu, the director of the International Climate Politics Hub and a Cop veteran, said: “All parties need to see presidency texts during this process as the negotiations proceed and this is generally done by circulating non-editable PDF documents to all parties simultaneously.
“Giving one party editing access to these documents, and a party known for its objective of rolling back the historic global agreement made last year to transition away from fossil fuels to renewable energy and energy efficiency, suggests a worrying lack of independence and objectivity, and clearly contravenes both the spirit and the rules of this process,” she said. “This kind of behaviour from a presidency risks placing this entire Cop in jeopardy.”
Two groups – the Alliance of Small Island States and the Least Developed Countries – walked out of a key meeting on Saturday, saying they were not being consulted by the presidency.
The German foreign minister, Annalena Baerbock, speaking on Saturday before the editing revelation, said: “We are in the midst of a geopolitical power play by a few fossil fuel states. We will not allow the most vulnerable, especially the small island states, to be ripped off by the few rich fossil fuel emitters who have the backing, unfortunately, at this moment of the president [of Cop29].”
A 2023 report by the Climate Social Science Network concluded: “One nation has had an outsized role in undermining progress at global climate negotiations, year after year: Saudi Arabia. The fossil fuel giant has a 30-year record of obstruction and delay, protecting its national oil and gas sector and seeking to ensure UN climate talks achieve as little as possible, as slowly as possible.
“Riyadh’s envoys are among the most active across all tracks of UN climate talks, frequently pushing back on efforts to curb fossil fuels,” it said. “Despite increased temperatures across Saudi Arabia and falling groundwater supplies, Riyadh has shown little sign of shifting strategy.”
The Cop29 presidency, the United Nations Framework Convention on Climate Change and the Saudi delegation have been contacted for comment.
COP29 UN Climate Conference Agrees to Triple Public Finance to Developing Countries, Protecting Lives and Livelihoods
UN Climate Change News, 24 November 2024 – The UN Climate Change Conference (COP29) closed today with a new finance goal to help countries to protect their people and economies against climate disasters, and share in the vast benefits of the clean energy boom.
With a central focus on climate finance, COP29 brought together nearly 200 countries in Baku, Azerbaijan, and reached a breakthrough agreement that will:
- Triple public finance to developing countries, from the previous goal of USD 100 billion annually, to USD 300 billion annually by 2035.
- Secure efforts of all actors to work together to scale up finance to developing countries, from public and private sources, to the amount of USD 1.3 trillion per year by 2035.
Known formally as the New Collective Quantified on Climate Finance (NCQG), it was agreed after two weeks of intensive negotiations and several years of preparatory work, in a process that requires all nations to unanimously agree on every word of the agreement.
"This new finance goal is an insurance policy for humanity, amid worsening climate impacts hitting every country,” said Simon Stiell, Executive Secretary of UN Climate Change. “But like any insurance policy – it only works – if premiums are paid in full, and on time. Promises must be kept, to protect billions of lives.”
"It will keep the clean energy boom growing, helping all countries to share in its huge benefits: more jobs, stronger growth, cheaper and cleaner energy for all.”
The International Energy Agency expects global clean energy investment is set to exceed USD 2 trillion for the first time in 2024.
The new finance goal at COP29 builds on significant strides forward on global climate action at COP27, which agreed an historic Loss and Damage Fund, and COP28, which delivered a global agreement to transition away from all fossil fuels in energy systems swiftly and fairly, triple renewable energy and boost climate resilience.
COP29 also reached agreement on carbon markets – which several previous COPs had not been able to achieve. These agreements will help countries deliver their climate plans more quickly and cheaply, and make faster progress in halving global emissions this decade, as required by science.
Important agreements were also reached on transparent climate reporting and adaptation as summarized below.
Stiell also acknowledged that the agreement reached in Baku did not meet all Parties' expectations, and substantially more work is still needed next year on several crucial issues.
“No country got everything they wanted, and we leave Baku with a mountain of work to do,” said Stiell. “The many other issues we need to progress may not be headlines but they are lifelines for billions of people. So this is no time for victory laps, we need to set our sights and redouble our efforts on the road to Belem.”
The finance agreement at COP29 comes as stronger national climate plans (Nationally Determined Contributions, or NDCs) become due from all countries next year. These new climate plans must cover all greenhouse gases and all sectors, to keep the 1.5°C warming limit within reach. COP29 saw two G20 countries – the UK and Brazil – signal clearly that they plan to ramp up climate action in their NDCs 3.0, because they are entirely in the interests of their economies and peoples.
“We still have a very long road ahead, but here in Baku we took another important step forward,” said Stiell. “The UN Paris Agreement is humanity’s life-raft; there is nothing else. So here in Baku and all of the countries represented in this room we’re taking that journey forward together.”
A brief summary of other key achievements at COP29 follows below.
Article 6 of the Paris Agreement
A notable achievement during the past two weeks was the progress made on carbon markets. After nearly a decade of work, countries have agreed on the final building blocks that set out how carbon markets will operate under the Paris Agreement, making country-to-country trading and a carbon crediting mechanism fully operational.
On country-to-country trading (Article 6.2), the decision out of COP29 provides clarity on how countries will authorize the trade of carbon credits and how registries tracking this will operate. And there is now reassurance that environmental integrity will be ensured up front through technical reviews in a transparent process.
On day one of COP29, countries agreed standards for a centralized carbon market under the UN (Article 6.4 mechanism). This is good news for developing countries, who will benefit from new flows of finance. And it is particularly good news for least developed countries, who will get the capacity-building support they need to get a foothold in the market.
This mechanism, known as the Paris Agreement Crediting Mechanism, is underpinned by mandatory checks for projects against strong environmental and human rights protections, including safeguards that ensure a project can’t go ahead without explicit, informed agreement from Indigenous Peoples. It also allows anyone affected by a project to appeal a decision or file a complaint.
Under the text agreed on Article 6.4, there is a clear mandate for the UN carbon market to align with science. It tasks the Body getting this market up and running to consider the best available science across all work going forward.
The work on carbon markets doesn’t stop in Baku. The Supervisory Body setting up the new carbon crediting mechanism has been handed a long 2025 to-do list by Parties and will continue to be accountable to them.
Transparency
Transparent climate reporting made big strides forward in Baku, building a stronger evidence base to strengthen climate policies over time, and helping to identify financing needs and opportunities. To date, 13 Parties have now submitted their first Biennial Transparency Reports (BTR) – due from all Parties by the end of the year. Andorra, Azerbaijan, the European Union, Germany, Guyana, Japan, Kazakhstan, Maldives, Netherlands, Panama, Singapore, Spain, and Türkiye have led the way on transparent climate reporting, and set an example for others to follow. The list of received BTRs is continuously being updated here.
In addition, all transparency negotiating items concluded successfully at COP29, with Parties expressing their appreciation for the timely completion of the Enhanced Transparency Framework (ETF) reporting tools, the technical trainings, and the support provided to developing countries for reporting under the ETF that took place in 2024.
A total of 42 events were organized under #Together4Transparency, a UNFCCC collaborative initiative that promotes climate transparency with Parties and non-Party stakeholders. These events emphasized the vital role of transparency in preparing NDCs and net-zero pathways, as well as in recognizing climate action from non-Party stakeholders. Events included high-level sessions, mandated events and training sessions to prepare countries for their BTRs, as well as to equip technical experts for the upcoming review process.
The critical role of REDD+ was recognized through a £3 million pledge by the UK International Forest Unit to support UN Climate Change’s work over four years. This funding will bolster REDD+ activities in many countries, enabling the secretariat to create dedicated spaces for REDD+ experts to engage in technical dialogue. These efforts are expected to enhance the transparency and implementation of REDD+, in line with the Global Stocktake objective to halt and reverse deforestation and forest degradation by 2030.
Adaptation
COP29 was an important moment for adaptation, with the delivery of several key outcomes. The COP decision on matters relating to the least developed countries (LDCs) contains a provision for the establishment of a support programme for the implementation of National Adaptation Plans (NAPs) for the LDCs. Parties extensively discussed the second five-year assessment of progress to formulate and implement NAPs, and will continue that in June 2025.
A High-Level Dialogue on National Adaptation Plans convened ministers from least developed countries and small island developing States, financial experts and international donors to address the growing urgency of climate adaptation. Their discussions focused on innovative financing, technical support, and accelerated action to meet the 2025 submission deadline for NAPs. The event concluded with a strong call to action to expedite NAPs and translate plans into tangible outcomes.
The outcome on the global goal on adaptation sets a clear path forward on the road to COP30 for the indicators work programme, providing a process for experts to continue their technical work before passing the baton to Parties. COP29 also launched the Baku Adaptation Road Map and Baku high-level dialogue on adaptation to enhance the implementation of the UAE Framework. Finally, the outcome raises ambition by agreeing to continue unpacking transformational adaptation moving forward.
COP29 took a decisive step forward to elevate the voices of Indigenous Peoples and local communities in climate action, adopting the Baku Workplan and renewing the mandate of the Facilitative Working Group (FWG) of the Local Communities and Indigenous Peoples Platform (LCIPP). The adopted decision acknowledges the progress made by the FWG in fostering collaboration among Parties, Indigenous Peoples and local communities, and underscores the leadership of Indigenous Peoples and local communities in addressing the climate crisis.
Gender and climate change
Countries agreed a decision on gender and climate change, extending the enhanced Lima Work Programme on Gender and Climate Change for another 10 years, reaffirming the importance of gender equality and advancing gender mainstreaming throughout the convention.
They also agreed to develop a new gender action plan for adoption at COP30, which will set the direction for concrete implementation.
Civil society participation, children and youth
World leaders at COP29 were joined by civil society, subnationals, business, Indigenous Peoples, youth, philanthropy, and international organizations. More than 55,000 people attended COP29 to share ideas, solutions, and build partnerships and coalitions.
The decisions taken at COP29 also reemphasize the critical importance of empowering all stakeholders to engage in climate action; in particular under Action for Climate Empowerment (ACE). Parties recalled the importance of integrating ACE elements into national climate change policies, plans, strategies and action, and noted the secretariat’s compendium of good practices for integrating ACE elements into NDCs.
COP29 marked a significant milestone as dedicated spaces were created to ensure the meaningful participation of children within the Youth-led Climate Forum for the first time. Four children, including the youngest at just 10 years old, took on roles as moderators and speakers, engaging directly with Parties and observer organizations. Their participation highlighted the importance of inclusivity and intergenerational collaboration in driving climate action.
In parallel with the formal negotiations, the Global Climate Action space at COP29 provided a platform for governments, businesses and civil society to collaborate and showcase their real-world climate solutions. An overview and summary of these can be found here.
The High-Level Champions, under the Marrakech Partnership for Global Climate Action, launched their 2024 Yearbook of Global Climate Action at COP29, showing that climate action by non-Party stakeholders, including businesses, investors, sub-national actors and civil society, is driving progress towards the goals of the Paris Agreement, and that their engagement is more crucial than ever.
More information
Read a transcript of UN Climate Change Executive Secretary Simon Stiell’s closing speech at COP29 here (also available in Arabic, French, Portuguese, Russian and Spanish).
Read the COP29 decision texts here.
https://unfccc.int/news/cop29-un-cli...otecting-lives