As the World Climate Conference unfolds in Baku, the urgency for climate action becomes increasingly apparent. Experts are advocating for a staggering $1.1 trillion annually in climate financing, a steep increase from the previously set goal of $100 billion, which was only met two years ago.
This ambitious request underscores the growing frustration among climate advocates. COP29 negotiator Yalchin Rafiyev defends the ongoing negotiations, while climate expert Gavin McCormick highlights new data concerning the largest polluters, igniting discussions on accountability.
Prominent critics, including Mohamed Adow, Ban Ki-moon, Christiana Figueres, and Mary Robinson, are calling for a significant overhaul of the COP process to enhance its effectiveness. The insistence on a quicker pace is echoed by ICC Secretary-General John WH Denton and COP29 negotiator Samir Bejanov.
However, leaders like Rebeca Grynspan of UNCTAD and EBRD President Odile Renaud-Basso caution that financial resources alone are insufficient for meaningful progress. Disappointment is palpable among representatives such as Panama's Environment Minister Juan Carlos Navarro.
Furthermore, the conference is marred by the presence of over 1,700 fossil fuel lobbyists, raising concerns about the influence of the oil and gas industry. Compounding these issues are tensions between France and Azerbaijan, the host nation, whose president promotes fossil fuels as a 'gift from God.' The path forward remains fraught with challenges as negotiations continue.
