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COP29 Ends in Disappointment: Failure to Address Climate Finance Commitments

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COP29,Climate Change,Climate Finance

COP29, recently concluded in Baku, Azerbaijan, was anticipated to be a critical moment in the fight against climate change. However, the conference turned out to be a significant letdown, failing to fulfill the promises of wealthy nations to address financial commitments towards tackling the climate crisis. This setback is particularly disheartening for developing countries, which suffer the most from climate change despite contributing the least to its causes.

Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.COP29 should have been a pivotal moment in the fight against climate change but instead it was a failure.

Rich countries’ reluctance to provide adequate financial support has been one of the most shameful chapters in climate diplomacy and Baku has become a symbol of betrayal — a stark reminder of the Global North’s neglect, broken promises and systemic failure to confront the ongoing climate crisis with the urgency, fairness and responsibility it demands.

In 2009, wealthy nations promised $100 billion annually, a figure that was woefully inadequate even then. Fast forward to 2035, and their new pledge of $300 billion is not only delayed but devalued. The US forced the Global South to accept a low finance figure in Baku, saying Donald Trump’s administration would give even less next year.” approach, this could be lifted. This would set the stage for more aggressive oil and gas extraction, including fracking.

 

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