COP29 is over, with developing countries complaining that the $300bn (about £240bn) a year in climate finance they will receive by 2035 is a “paltry sum”. Many of the rich country voices at the UN’s climate conference were amazed that developing nations were unhappy with what on the surface seems a huge settlement. It is an improvement – on the current contribution of $100bn (£79.8bn) a year. However, the developing world, which had pushed for more, had many genuine issues with the final sum.
There were complaints it simply was not enough and that it was a mixture of grants and loans. And countries were deeply annoyed by the way the wealthy waited until the last minute to reveal their hand.
A massive deal, but bitter divisions remain. There were complaints it simply was not enough and that it was a mixture of grants and loans. And countries were deeply annoyed by the way the wealthy waited until the last minute to reveal their hand.
The quiet ascent of China. With the role of the US in future climate talks in doubt because of Trump, attention shifted to who might become the real climate leader in the expected absence of the US over the next four years. The natural successor is China.
Campaigners become more vocal. One very noticeable trend at COP29 was the sometimes more aggressive stance taken by many environmental NGOs and campaigners. I witnessed it myself when US climate envoy John Podesta was chased out a meeting area with chants of “shame” ringing in his ears.
The deal was not fit for purpose and called for reform.
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