Table of Contents
- 1 Silent protest
- 2 The EU ready to increase the commitment of rich countries to 300 billion dollars annually, under conditions
- 3 **How does the late arrival of the climate finance proposal at COP29 impact the negotiating power of developing countries like Brazil, and what implications does this have for achieving a successful outcome at the summit?**
This article was originally published in English
Brazil’s chief negotiator, representing the next COP host country, told euronews that the second financial offer had arrived too late at the summit in Azerbaijan, leaving doubt over whether a deal could be reached.
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Brazil rejected the Azerbaijani presidency’s second attempt to reach a political deal on climate finance, while civil society groups staged an impromptu protest in Baku on Friday in solidarity with the developing world at the end of ‘a day which saw negotiations go as far as extension.
“Brazil’s position is that we still hope to reach an agreement here” in Azerbaijan)Ana Toni, Brazil’s climate envoy and lead negotiator for COP29, told euronews on the sidelines of the summit. “We are really disappointed that the figures came so late and that we may not have enough time.”
She was referring to a revised political compromise proposal presented by Azerbaijan at 3 p.m. local time. It was the first in a series of negotiating texts since the talks began on November 11 that quantify the “new quantified collective objective” (NCQG) for financing the fight against climate change from rich countries to developing countries.
More the figure of $250 billion per year from 2035 was immediately rejected by climate advocates and many civil society groups, who found it insufficient to help developing countries move away from dependence on fossil fuels.
“We believe that if these figures had been put forward at the beginning, if this tax had been proposed at the beginning, we would be absolutely sure that we could have reached an agreement. Unfortunately, it came very late and we no longer know what he is”declared the Brazilian, shortly after the Minister of the Environment, Marina Silva, delivered a similar message to journalists present in the COP29 complex.
The issue is particularly pressing for Latin America’s largest country, which, as host of the COP30 summit next yearhoped to move on to discussions on implementing updated emissions reduction pledges from nearly 200 parties to the Paris Agreement aimed at limiting global warming to 1.5°C above pre-industrial levels.
The country now faces the prospect of having to take up the thorny question of financingwhile the lack of certainty over future financial flows will make it more difficult for developing countries to draft their nationally determined contributions (NDCs) to the global effort to reduce emissions, which are due by February .
“The problem does not only concern Brazil”said Ms. Toni. “This is a problem for all the countries that are hereand obviously for the population that suffers first – that’s what concerns us.”
“The money in question here is not intended for developing countries, but for each of us,” continued the Brazilian climate official. “Because if we manage to realize our ambitions and we see who will benefit, it’s not just Brazilians, it’s everyone.”
“There is no point in Europe or the United States taking climate action: all countries must make the same transitionotherwise “none of us will be safe”she stressed.
The Brazilian representative spoke ofa “historical responsibility of rich Western countries towards developing countries”while recognizing that finally having a figure around which to negotiate was progress, although she highlighted the lack of clarity on where the money would come from, whether from the public sector or of the private sector.
“These improvements should have happened ten days ago”she said. “But we will do everything possible, because we want to come out of here with a deal.”
Asked if she thought a deal could be reached on Saturday, Ms Toni responded briefly: “Who knows? “Who knows?”
Silent protest
Journalists were already starting to leave the complex around 10 p.m. – after learning that a third version of the COP29 agreement would not see the light of day until Saturday morning – when a group of several dozen protesters began marching silently and unannounced in the corridors, under the watchful eye of security personnel.
Kirtana Chandrasekaran, from the organization Friends of the Earth Internationalsaid the amount of money put on the table was “peanuts” and that she was making a mockery of the Paris agreement when the group stopped. Civil society demonstrated in solidarity with G77 countries, she said, urging them to “stay strong” and to reject the current NCQG text.
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“This is not about subsidies, which is what developing countries have been asking for from the start”Chandrasekaran said, asserting that the proposed formula would have the effect of increasing the debt of developing countries.
“This is completely unacceptable and allows developed countries to completely free themselves from their obligations in terms of financing the fight against climate change for developing countries”she added.
The EU ready to increase the commitment of rich countries to 300 billion dollars annually, under conditions
At the time of publication, discussions continued behind closed doors in order to to produce a final draft NCQG agreement and other key texts. National delegations were expected to discuss what could be the final compromise proposal during a plenary session this Saturday, November 23.
This Saturday morning, the EU said it was ready to increase the commitment of rich countries to $300 billion annually, under conditions, according to negotiators.
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**How does the late arrival of the climate finance proposal at COP29 impact the negotiating power of developing countries like Brazil, and what implications does this have for achieving a successful outcome at the summit?**
## World Today News Exclusive Interview: COP29 Talks on Climate Finance
**Introduction:**
Welcome to World Today News. We’re bringing you exclusive insights from the COP29 climate summit in Azerbaijan as negotiations on climate finance reach a crucial stage. Today, we’re joined by two distinguished guests:
* Ana Toni, Brazil’s Climate Envoy and lead negotiator for COP29, who will shed light on the challenges faced in securing increased commitments from developed nations.
* Kirtana Chandrasekaran, from Friends of the Earth International, who will be voicing the concerns of civil society groups regarding the proposed financial aid and its effectiveness.
**Section 1: The Late Arrival of the Financial Proposal**
**Interviewer:**
Ms. Toni, the negotiations have been ongoing for over a week, and the revised proposal for climate finance only arrived late in the process. Can you tell us why this is a cause for concern and how it impacts your role as host of next year’s COP30?
**Ana Toni:**
… (Ms. Toni explains the disadvantages of the late proposal, outlining its impact on Brazil’s preparations for COP30 and the possibility of reaching a deal in Azerbaijan).
**Interviewer:**
Ms. Chandrasekaran, from a civil society perspective, what are your thoughts on the timing of this proposal?
**Kirtana Chandrasekaran:**
… (Ms. Chandrasekaran explains how the delayed proposal undermines trust and reflects developed nations’ lack of urgency in addressing the climate crisis).
**Section 2: The Adequacy of the Proposed Funding
Interviewer:**
Ms. Toni, you expressed disappointment with the proposed figure of $250 billion annually.
Can you elaborate on why this amount is insufficient and what specific challenges it poses for Brazil and other developing countries?
**Ana Toni:**
… (Ms. Toni discusses the inadequacy of the proposed sum in light of developing countries’ needs and the urgent requirement for a just transition away from fossil fuels).
**Interviewer:**
Ms. Chandrasekaran, Friends of the Earth International has called the amount “peanuts.” Can you expand on this statement? What are the potential repercussions of such insufficient funding for the fight against climate change?
**Kirtana Chandrasekaran:**
… (Ms. Chandrasekaran highlights the systemic issues with the proposal, focusing on potential debt traps for developing countries and the failure to address the root causes of climate change).
**Section 3: Responsibility and
Future Negotiations
Interviewer:**
Ms. Toni, Brazil has emphasized the historical responsibility of developed nations. How can this responsibility be translated into concrete actions beyond mere financial commitments?
**Ana Toni:**
… (Ms. Toni stresses the need for technological transfer, capacity building, and equitable burden sharing as part of the solution).
**Interviewer:**
Ms. Chandrasekaran, as COP29 draws to a close, what message would you like to send to world leaders and negotiators?
**Kirtana Chandrasekaran:**
… (Ms. Chandrasekaran urges world leaders to prioritize meaningful climate action, ensure equitable and transparent financial mechanisms, and listen to the voices of communities most affected by the climate crisis).
**Conclusion:**
**Interviewer:**
Thank you both for sharing your valuable insights. The coming hours at COP29 will be crucial in determining the future of global climate action. We at World Today News will continue to bring you updates as the negotiations unfold.
