Advocacy Group Criticizes COP29 for Falling Short on Climate Goals

Campaigners have stated that the COP29 climate conference left behind “a trail of broken promises.”

Speaking on Monday, they also claim it

failed to deliver the outcomes urgently needed to address the escalating climate crisis.

The event in Baku was marked by drama throughout its two weeks and concluded early Sunday morning.

Following marathon negotiations, an agreement was reached at the UN Climate Change Conference (COP29) on financial contributions from developed countries to support climate action in developing nations.

The agreement establishes a target of $300 billion annually from both public and private sources by 2035. However, many argued this figure falls short, calling for a commitment closer to $1.3 trillion to tackle the climate crisis effectively.

Campaigners have criticized the outcomes, saying that despite high expectations, wealthy nations, including the EU,

failed to step up with the bold commitments required to meet the needs of the most vulnerable.

The Climate Action Network (CAN) Europe stated,

The talks have been characterized by a lack of transparency, weak leadership, and insufficient action on climate finance and mitigation—falling short of the Paris Agreement’s promises.

Chiara Martinelli, Director of Climate Action Network (CAN) Europe, expressed disappointment:

Rich countries own the responsibility for the failed outcome at COP29.

She added,

The talk of tripling from the $100 billion goal might sound impressive, but in reality, it falls far short, barely increasing from the previous commitment when adjusted for inflation and considering the bulk of this money will come in the form of unsustainable loans. This is not solidarity. It’s smoke and mirrors that betray the needs of those on the frontlines of the climate PLACEHOLDER_8886a3f0337626c6. Despite promises of leadership, the EU has shown a troubling lack of action and ambition, undermining trust and progress when it was needed most.

The CAN statement further noted,

COP29 marks the end of what we have liked to call the ‘international climate leadership’ of the EU. Here it was crystal clear that the EU did not step up to its responsibility or opportunity to be on the right side of history.

Instead of leading by example and proactively forging new solutions to the main question—how to raise the public finance developing countries need to cope with global climate catastrophe—the EU used its time dragging its feet, pointing at what other countries and non-state actors might need to do.

Martinelli specifically criticized the EU’s broader efforts:

The worst of the EU’s sins was, however, not committed in Baku. Instead, it took place in PLACEHOLDER_437daf55ea7d7c20 and in EU PLACEHOLDER_5240edee89cb6c1c, every treasury, every ministry of finance and economy. Over the past nine years since the Paris Agreement laid out a new finance goal to be set before 2025, our decision-makers have paid no thought to how to raise the public funds to respond to the unfolding international crises.

She continued,

There would have been, and still are, sensible, achievable, sustainable, and just ways to raise enough public resources to deal with the crises, for example by redirecting PLACEHOLDER_660f75d290b76af1 subsidies as well as taxing high-emitting sectors and the super-rich. Instead of considering these options, our leaders leave Baku washing their hands, calling the funding opportunities ‘unrealistic.’

Meanwhile, Simon Stiell, Executive Secretary of UN Climate Change, defended the outcomes, calling the financial target

an insurance policy for humanity, amid worsening climate impacts hitting every country.

Stiell added:

But like any insurance policy – it only works – if premiums are paid in full, and on time. Promises must be kept, to protect billions of lives. It will keep the clean energy boom growing, helping all countries to share in its huge benefits: more jobs, stronger growth, cheaper and cleaner energy for all.

An unnamed European Commission source highlighted the EU’s efforts:

At the COP29 UN Climate Change Conference in Baku, the PLACEHOLDER_223dd579a7172db8 and EU Member States took the lead in brokering a deal to align