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Friday, November 15, 2024

Climate negotiations at a standstill: Troika must now drive forward climate finance and action

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The recent Bonn Climate Change Conference ended in stalemate, with little progress made on increasing urgent mitigation action by 2030. The lack of commitment from developed countries to significantly scale up financial support for developing nations was a major point of contention, with Greenpeace International's Tracy Carty calling it a “dereliction of duty.”

Negotiations in Bonn failed to address the crucial goals of climate finance and enhanced ambition, showing a disconnect with the urgent need to address the accelerating impacts of climate change. The deep polarisation and fundamental differences among party delegates stymied any real progress, leaving the future of climate action uncertain.

As the world faces the increasing threat of climate-fuelled storms, fires, and droughts, the need for immediate action is more pressing than ever. Greenpeace experts emphasize the importance of rich developed countries stepping up to the plate and increasing support through means such as taxing fossil fuel companies.

Despite the lack of progress in Bonn, there was a glimmer of hope in negotiations around agriculture. Parties were able to agree on a roadmap and activities related to food security, signaling a potential breakthrough in this crucial area.

The road to COP29 in Baku will require a concerted effort from all parties involved to address the urgent issues at hand. The world is looking to leaders to prioritize climate action and work towards a safer, more sustainable future for all. As the deadline for new financial targets and NDCs approaches, the time for action is now.

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