A tale of obligations diluted
“At COP 29, we lost an opportunity -- without a meaningful agreement on climate finance; both in terms of quantity and quality, large parts of the world that would have had the chance to rein-vent growth to make it low-carbon intensive, will not be able to do so. What’s worse, this comes at a time when these countries are even more vulnerable due to climate change impacts,” said Sunita Narain, director general, Centre for Science and Environment (CSE), speaking at an online debriefing on the Baku conference’s results. CSE organised the debriefing – titled ‘Did the finance COP deliver?’ – today. The 29th Conference of Parties to the United Nations Framework Convention on Climate Change ended November 24 in Baku, Azerbaijan. The headline issue of the conference was the New Collective Quanti-fied Goal (NCQG) on climate finance. The NCQG is the successor to the US $100 billion per year com-mitment made by developed countries in 2009 to support climate action in developing countries by 2020. Says Avantika Goswami, programme manager, Climate Change, CSE: “An ambitious NCQG out-come at COP 29 would have been critical for supporting the increasing climate needs of the Global South. So did the finance COP deliver? The answer has to be a most emphatic ‘no’.”
