COP29 delegates still appear far from reaching consensus

We are already into week two of COP29 deliberations, but delegates are yet to reach an agreement. Meanwhile, COP30 preparations are already underway.

The discussions hit a wall after an initial proposal sparked widespread anger. The delegates need to come to a consensus on deep differences over how to scale up international climate finance.

Host Azerbaijan announced preliminary agreements on Thursday. However, they failed to address crucial points, such as the source and amount of funding that might be mobilised to assist developing nations.

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One of the key causes of global warming, the usage of fossil fuels, was also barely touched upon. More than 60 nations took turns criticising the possible deal, leading to a heated five-hour discussion.

With just a day left, it seemed like there wasn't much consensus. A number of nations, like the United States, Panama, and Vanuatu, were adamant that a final deal had to recognise a historic commitment made at last year's COP meeting in Dubai. Raise efficiency, move away from fossil fuels, and expand renewable power.

However, on behalf of the Arab group, Saudi Arabia's negotiator Albara Tawfiq argued that Riyadh is against the global stocktake's goal of restating last year's fossil fuel vow. The kingdom warned that Arab countries "will not accept any text that targets specific sectors, including fossil fuels."

Separately, developing countries criticised wealthy countries like the US and the EU for being vague about the money they are ready to pay. On the other hand, the US and EU retaliated by claiming the proposed deal was inadequate to meet their emissions reduction goals. Clearly, the annual meeting is turning out to be another eventless calendar event.

Brazil is already looking forward to COP30 next year. Belem, Brazil, is the site of next year's climate summit. Amid its booming oil output, Brazil has been striving to establish itself as a climate leader.

COP30 presents a valuable chance to do just that. Belem is well-known as the entry point to the Amazon jungle. However, some are concerned that the little coastal city does not have the necessary infrastructure to hold a COP meeting.

Andre Correa Do Lago, Brazil's Secretary for Climate, Energy and the Environment, argued that Belem's location would be an asset. He said, "We are not trying to hide the problems we have, and, as you know, deforestation is our main source of emissions." He added, "So we are taking the world to the place where we have our biggest source of emissions, and we're going to show to the world how complex the Amazon region is."