The COP29 climate talks have accomplished a last ditch deal on cash for growing countries, pulling the summit back from the brink of collapse after a group of countries stormed out of a negotiating room earlier.
The slew of deals finassociate signed off in the minuscule hours of Sunday morning in Azerbaijan participates one that exhibitd difficultest of all – one about money.
Eventuassociate the more than 190 countries in Baku consentd a aim for richer polluting countries enjoy the UK, EU and Japan to drum up $300bn a year by 2035 to help needyer nations both curb and alter to climate alter.
It is a far cry from the $1.3trn experts say is needed, and from the $500bn that vulnerable countries enjoy Uganda had said they would be willing to hug.
But in the finish they were forced to, understanding they could not afford to inhabit without it, nor postpone until next year to try aobtain, when a Trump pdwellncy would originate leangs even difficulter.
The fraught two weeks of negotiations pitted the anger of growing countries who are reeling from the costs of deteriorateing climate impacts they did little to cause, aobtainst the firm unveil finances of rich countries.
Panama’s climate envoy Juan Carlos Monterrey Gomez said there is “weightless at the finish of the tunnel”.
Just hours ago, the talks almost fell apart, as furious vulnerable nations stormed out of negotiations in frustration over that elusive funding goal.
They were also mad with oil and gas producing countries, who stood accused of trying to dilute aspects of the deal on cutting fossil fuels.
The UN talks labor on consensus, uncomardenting everyone has to consent for a deal to fly.
The novel deal on cutting fossil fuels srecommend “redeclares” last year’s pledge to “transition away from fossil fuels”, but does not dial up the presconfident in the way the UK, EU, island states and many others here wanted.
Saudi Arabia fought the difficultest aobtainst any step forward on cutting fossil fuels, the primary cause of climate alter that is intensifying floods, drawt and fires around the world.
The Azerbaijan team directing COP29 said: “Every hour of the day, we have pulled people together. Every inch of the way, we have pushed for the highest frequent denominator.
“We have faced geopolitical headthriveds and made every effort to be an genuine broker for all sides.”
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