Yalchin Rafiyev, lead negotiator for the Cop29 Azerbaijan presidency, speaks to the media at the climate conference in Baku on Friday. Photograph: Sean Gallup/Getty ImagesNegotiators at the UN climate talks in Baku are facing into difficult final hours as an attempt to rescue a deal after the latest “decision text” was presented on Friday was roundly rejected by developing countries.
Cop29 host Azerbaijan announced late on Friday, however, a plenary meeting of participating countries would not be held until Saturday, which may be an indication of how deadlocked the talks have become – or a wish to get them across the line in one final push in the coming hours.
It’s “deeply insulting” and “far worse than we expected”, said Lidy Nacpil, an activist from the Philippines. “We’d rather have one more year of fighting on this” and try for a deal at next year’s summit in Brazil, she said, than accept something so terrible now. It is anticipated that one final draft will be issued early on Saturday. Most eyes were focused on the climate final goal while the $250 billion in the current draft text was the core in the form of public funding, while the bigger number of $1.3 trillion flags what all sources of finance should add up to, she said.
The only outstanding text, Ms Walsh said, was on Article 6 of the Paris Agreement on rules governing carbon markets, where developing countries could avail of funds through trading of carbon credits with developed countries and companies for projects such as afforestation. Current arrangements are not strongly regulated.
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