As deadline looms, nations, blocs reject draft negotiating text
- A day before the scheduled close of talks, the COP29 meeting in Azerbaijan’s Baku stared at a major crisis Thursday with almost every country and bloc rejecting the latest draft negotiating text.
Highlights:
- The COP29 meeting in Baku, Azerbaijan, faced a significant impasse as most countries and blocs rejected the latest draft negotiating text. Key disagreements spanned issues such as climate finance, mitigation, adaptation, and follow-ups on decisions from the 2023 Global Stock Take (GST) in Dubai.
Key Issues
- Finance as the Central Point of Dispute:
- Developing countries raised strong objections to the lack of clarity and provisions in the draft concerning climate finance.
- The focus of the meeting was expected to be on the New Cumulative Quantitative Goal (NCQG) for climate finance, but progress stalled due to diverging priorities.
- GST Follow-Up: Major Sticking Point:
- The GST exercise, a five-yearly review mandated by the 2015 Paris Agreement, provides insights for climate action adjustments.
- India and Saudi Arabia opposed follow-up actions on a specific GST paragraph that emphasized:
- Transitioning away from fossil fuels.
- Tripling renewable energy by 2030.
- Reducing emissions of non-CO2 gases like methane.
- Phasing down coal.
- Sectoral Disagreements
- India's Concerns:
- Methane emission cuts would adversely affect its agriculture sector.
- India maintained that GST outcomes should merely inform parties, not enforce binding commitments.
- Saudi Arabia and Oil-Producing Nations:
- Opposed text targeting specific sectors, particularly fossil fuels, citing economic dependencies.
Focus on Mitigation vs. Finance:
- Developing countries criticized the shift in emphasis from finance to mitigation.
- Indian negotiator Leena Nandan emphasized the principle of “common but differentiated responsibilities” and equity in addressing climate action.
- Concerns were raised that mitigation ambitions were being prioritized without addressing the enablers, such as adequate financial provisions.
Prelims Takeaways
- Global Stock Take (GST)
- NCQG (New Cumulative Quantitative Goal on climate finance)