COP 29: Brazil warns there will be no deal if rich countries don’t increase their climate financing targets

Brazil has refuse Second attempt by the Azerbaijani President to reach a political agreement climate financeWhile civil society groups organized impromptu protests in Baku at the end of a day to show solidarity with the developing world. The conversation reached in detail.

“Brazil’s position is that we hope we can reach an agreement,” Brazil’s climate envoy and chief COP29 negotiator Ana Toni told Euronews late Friday on the sidelines of the summit. “we are very disappointing That the data has come so late and we don’t have enough time.

It mentioned the revised proposal for political settlement Presented by Azerbaijan At 3:00 pm local time. This was the first in a series of negotiating texts since the talks began on 11 November, in which A figure was put forward for the “new quantified collective objective”.

(NCQG) to finance the fight against climate change from rich countries to developing countries.

but the number of 250 billion dollars annually 2035 was immediately rejected by a group of climate activists and civil society groups scarce For testing to help developing countries avoid dependence on fossil fuels.

“We believe that if these figures had come in at the beginning, if this tax had come in at the beginning, we’re pretty sure we could have reached an agreement and unfortunately arrived very late And we don’t know anymore,” Tony said shortly thereafter. Brazilian Environment Minister Marina Silvadelivered a similar message to journalists at the COP29 complex.

The issue is particularly pressing for Latin America’s largest country, which COP30 summit host Next year he hoped to debate the implementation of updated emissions reduction pledges from the nearly 200 parties to the Paris Agreement to limit global warming to 1.5 degrees Celsius above pre-industrial levels.

now he faces Likely to return to the thorny issue of financingWhile the lack of certainty over future financial flows will make it difficult for developing countries to draft their so-called nationally determined contributions (NDCs) to the global emissions reduction effort, which must be submitted by February.

“This is not just a Brazilian problem,” Tony said. “This is for all countries They are here, and obviously For the population that suffers first – That’s what worries us.” The Brazilian climate official added, “The money being discussed here is not for developing countries, it is for the well-being of all of us.” “Because if we achieve our ambitions And let’s see who is going to benefit, it’s not just Brazilians, it’s everyone.”

There is no benefit from Europe or the United States alone Take climate action: All countries must undergo the same transition otherwise “none of us will be safe,” he said.

Brazilian officialhistorical responsibility The orientation of rich Western countries towards the developing world, and while he acknowledged that finally producing a figure for negotiation was a step forward, he said lack of clarity Regarding the origin of the funds, whether from the public or private sector.

“These reforms should have happened ten days ago” he said. “But we will do everything possible because we want to leave here with an agreement.” Asked if he thought an agreement could be reached on Saturday, Tony’s response was brief. “Who knows?” said.

silent protest

After receiving this news, journalists started leaving the premises at around 10 pm. Third draft of COP29 agreement will not be revealed until morning– When a group of several dozen protesters They started parading in a silent march through the corridor without any prior notice, with security personnel keeping a close watch on them.

There was a sum of money on the table “a penny“And this is a mockery of the Paris Agreement,” Keertan Chandrasekaran of Friends of the Earth International said as the group stopped. there was opposition from civil society In solidarity with the G77 countries

He urged them to “stay strong” and reject the current NCQG text.

,This is not donation-based funding.Which is something that developing countries have been demanding from the beginning.”, Chandrasekaran argued that the formula put on the table would put more debt on developing countries. “It’s completely unacceptable And allows developed countries to completely shirk their obligations to provide climate finance to developing countries,” he said.

At the time of publication of this report, closed door conversation to prepare one final draft NCQG Agreements and Other Key Texts. National delegations are expected to discuss what could be Latest settlement proposal In a plenary session to be held on Saturday, November 23 at 10 am local time.