BAKU, Azerbaijan — United Nations climate talks adopted a deal to inject at least $300 billion annually in humanity’s fight against climate change, aimed at helping poor nations cope with the ravages of global warming in tense negotiations in the city where industry first tapped oil.
The $300 billion will go to developing countries who need the cash to wean themselves off the coal, oil and gas that causes the globe to overheat, adapt to future warming and pay for the damage caused by climate change’s extreme weather. It’s not near the full amount of $1.3 trillion that developing countries were asking for, but it’s three times a deal of $100 billion a year from 2009 that is expiring. Some delegations said this deal is headed in the right direction, with hopes that more money flows in the future.
It was not quite the agreement by consensus that these meetings usually operate with and developing nations were livid about being ignored.
COP29 President Mukhtar Babayev gaveled the deal into acceptance before any nation had a chance to speak. When they did they blasted him for being unfair to them, the deal for not being enough and the world’s rich nations for being too stingy.
“It’s a paltry sum,” India negotiator Chandni Raina said, repeatedly saying how India objected to rousing cheers. “I’m sorry to say we cannot accept it.”
She told The Associated Press that she has lost faith in the United Nations system.
After a deal, nations express their discontent
A long line of nations agreed with India and piled on, with Nigeria’s Nkiruka Maduekwe, CEO of the National Council on Climate Change, calling the deal an insult and a joke.
“I’m disappointed. It’s definitely below the benchmark that we have been fighting for for so long,” said Juan Carlos Monterrey, of the Panama delegation. He noted that a few changes, including the inclusion of the words “at least” before the number $300 billion and an opportunity for revision by 2030, helped push them to…
