The COP29 climate talks, which opened in Baku on Sunday, have been marked by urgent calls for global cooperation on climate action, but negotiations quickly stalled due to disputes over the agenda. As delegates gathered in the Azerbaijani capital, there were fresh warnings about the escalating climate crisis and the need for increased funding to help developing nations tackle its impacts.
UN climate chief Simon Stiell urged countries to unite, stating, “Now is the time to show that global cooperation is not down for the count.” He stressed that a new climate finance target is essential, emphasizing that climate finance should not be viewed as charity but as a necessity for all nations, including the wealthiest. However, despite these calls for action, the conference was immediately hindered by disagreements over how to proceed.
“The negotiations are at a standstill until the agenda is resolved,” said Alden Meyer, senior associate at climate think tank E3G. The delay is preventing negotiating teams from beginning substantive work, as COP29 President Mukhtar Babayev acknowledged that “these negotiations are complex and difficult.”
A key point of contention at the talks is climate finance, with developing countries demanding trillions of dollars to support their efforts to mitigate and adapt to climate change. However, wealthy nations are reluctant to increase their financial commitments. There is also a debate over whether these funds should come in the form of grants or loans.
While the COP29 President conceded that the financial needs could reach “trillions,” he suggested that a more “realistic goal” would be in the hundreds of billions. This has sparked frustration among developing nations, who argue that without adequate funding, they will be unable to meet their climate goals or submit ambitious climate action plans in time for the upcoming deadline in 2024.
“The global north owes the global south a climate debt,” said Tasneem Essop, executive director of the Climate Action Network. “We will not leave this COP if the finance ambition doesn’t match the scale at which finance must be delivered.”
Meanwhile, richer countries are pushing to expand the pool of donors to include major emitters like China and the Gulf states, a proposal rejected by China, which maintains that existing agreements should not be renegotiated.
The talks also come amid dire warnings from the UN, which stated that 2024 is on track to break new temperature records, putting the Paris Agreement’s climate targets in “great peril.” The World Meteorological Organization confirmed that the period from 2015 to 2024 is expected to be the warmest decade on record, underlining the need for accelerated climate action.
As the talks continue, the pressure is mounting on global leaders to make real progress. COP29 runs until November 22, and with over 51,000 attendees expected, the focus will remain on securing commitments for urgent climate finance and stronger action on reducing emissions.
