The COP29 Climate Summit in Baku was marked by contentious negotiations and intense criticism. Delegates from island states and least developed countries exited the talks, expressing discontent with the proceedings. German Foreign Minister Annalena Baerbock was vocal, criticizing Azerbaijan's leadership and calling for broader donor participation, including China and Gulf states, to meet the staggering $1.3 trillion annual aid target by 2035.
Despite the discord, a historic agreement was reached to increase annual climate aid to $300 billion by 2035, largely funded by industrial nations. However, this figure was deemed inadequate by many developing countries, who had pressed for $1.3 trillion. The negotiation process was fraught with challenges, including Saudi Arabia's blocking of national climate targets and fears of policy shifts with potential changes in the U.S. administration.
The summit's outcomes, referred to by some as the "Baku Pact of Climate Unity," were criticized for lacking the ambition necessary to limit global warming to 1.5 degrees Celsius. Critics, including UN Climate Secretary Simon Stiell, admitted the agreement was not a cause for celebration. The conference underscored the urgent need for effective climate financing and reform in climate negotiations to meet the escalating demands of vulnerable nations.
As the conference concluded, the focus shifted to future actions, with calls for increased private sector involvement and new financial strategies, such as imposing taxes on shipping and aviation. The next climate conference in Brazil will be crucial in addressing unresolved issues and ensuring that climate finance commitments translate into tangible action.
