COP29: ‘Empty place-holder’ – Countries under pressure to set climate finance goal, amid worry and dismay
The COP29 global climate summit enters its last day on Friday amid widespread frustration surrounding negotiations over a new global climate finance target, as a headline sum is yet to emerge.
Read MoreCOP29: Oil companies lobbying at climate negotiations tied to 17 mln deaths since Paris, NGO says
Fossil fuel companies that have sent lobbyists to COP summits produced enough oil and gas since the 2015 Paris Agreement to cause 17 million heat deaths, according to new analysis released on Thursday.
Read MoreCOP29: Fossil fuels transition dropped from hollowed-out deal on emission reductions
Large, heavy-emitting economies appear to be winning the battle over if and how the COP29 summit should push forward on last year’s landmark commitment to transition away from fossil fuels — raising alarm bells for many in Baku.
Read MoreCOP29: “Is it a joke?” — Climate finance splits persist as negotiators await new text
Developing countries have rebuffed the idea of a $200 billion annual climate finance target for wealthy government coffers, calling it a “joke” as ministers rushed to bridge persistent differences in the last stretch of COP29 negotiations on Wednesday.
Read MoreCOP29: Farmers should be climate finance recipients for carbon sequestration, NGOs say
Nearly 80 civil society are calling on UN Climate Change to facilitate the allocation of climate finance to farmers to help them engage in more sustainable practices like restoring degraded soils, in an open letter published on the sidelines of the COP29 climate conference.
Read MoreUPDATED – COP29: G20 endorses broad climate finance, but fails to provide clarity on NCQG
The G20 reaffirmed a broad commitment to climate finance efforts in a communique following the conclusion of its summit in Brazil, but observers say more is needed from the world’s wealthiest countries to adequately address climate change globally.
Read MoreCOP29: Voluntary carbon markets sneak into UN climate finance talks, to dismay of green groups
A provision that “encourages” scaling voluntary carbon markets has been included in the latest text on climate finance at the COP29 global climate summit, though green groups and some developing countries are pushing hard against this language, citing integrity concerns.
Read MoreCOP29: EU under fire as climate finance talks continue to struggle
The European Union is risking its influential role in global climate diplomacy, as UN negotiations for the so-called ‘finance COP’ enter second week in Baku with the bloc not yet committing publicly to a specific contribution figure.
Read MoreCOP29: Trade issues complicate talks as countries call for EU CBAM to be simplified
The EU’s carbon border adjustment mechanism (CBAM) is adding tensions to already difficult negotiations at COP29 in Baku, with top government officials telling Carbon Pulse that the European Union should be more flexible with the policy.
Read MorePREVIEW: Experts call for ambitious NDCs to spur investment, hope G20 summit will ease COP pressure
On the eve of a G20 meeting in Rio do Janeiro on next week, business groups and a Brazilian national official called for developing countries to submit ambitious national climate plans to elicit greater investment, while observers said the summit in Brazil could ease parallel finance negotiations at the UN climate summit in Baku.
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