Developing Nations Condemn $300 Billion Climate Deal as Insufficient at COP29 Summit
A climate deal finalized on Sunday at the COP29 United Nations Climate Change Conference faced immediate backlash from developing nations, who labeled the pledged $300 billion annual fund as grossly inadequate. The agreement, reached after two weeks of intense negotiations, was met with criticism for failing to address the scale of the climate crisis.
India’s delegate, Chandni Raina, called the deal “abysmally poor” and dismissed it as “a mere illusion.” Sierra Leone’s climate minister Jiwoh Abdulai added that the agreement reflected a “lack of goodwill” from wealthy nations toward the world’s poorest, while Nigeria’s envoy Nkiruka Maduekwe described it as “an insult.”
The pledge, meant to help vulnerable nations combat the effects of rising sea levels and severe droughts, fell far short of the massive financial support that many developing nations had anticipated.
Criticism of Wealthy Nations
The host country, Azerbaijan—a major oil and gas exporter—faced criticism for lacking urgency in tackling the crisis. Developed nations, including the United States, European Union, and Japan, were accused of negotiating in bad faith, with activists staging protests throughout the conference.
Tina Stege, climate envoy for the Marshall Islands, expressed disappointment but acknowledged some progress. “It’s not nearly enough, but it’s a start,” said Stege, whose island nation is under threat from rising sea levels.
Struggles Over Climate Finance
The agreement highlighted deep divisions over how much historical polluters—wealthy nations responsible for significant greenhouse gas emissions—should contribute to help poorer nations. The $300 billion pledge, which emerged only during the final hours of negotiations, was criticized for being too little compared to the growing climate challenges.
UN Climate Chief Simon Stiell acknowledged the limitations of the deal, stating, “No country got everything they wanted.” Meanwhile, UN Secretary-General Antonio Guterres urged nations to see this as a starting point, expressing hope for more ambitious efforts in the future.
Chaotic Negotiations
The final days of COP29 saw intense discussions, with bleary-eyed diplomats working late into the night. Threats to walk away and heated debates nearly derailed the negotiations. However, the deal was eventually approved, with UK Energy Secretary Ed Miliband calling it “a critical eleventh-hour agreement for the climate.”
Global Call for Action
While the $300 billion fund is the largest-ever climate finance pledge, developing nations emphasize the need for substantially more support to tackle the escalating climate crisis. As 2024 shapes up to be the hottest year on record, the urgency for meaningful climate action continues to grow.
