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Stockholm – One of the main highlights during the climate summit COP29 in Azerbaijan is to agree on a new target for how much donor countries should contribute annually from 2025 – and Sweden’s chief negotiator Mattias Frumerie believes it will be tough. The last time such a decision was made was in 2009.
“There is a proposal on the table for 1,400 billion dollars per year. We from Sweden and the EU do not think this is realistic. But we have a floor of 100 billion, so it will land somewhere in between. However, it can get turbulent because it involves money,” says Mattias Frumerie.
Another big question is who should pay?
“We would like to see more countries participating in the payment, such as China and the Gulf States. The issue for them is not the money but that they do not report their financing in the same way as other donor countries. The reason is that they do not want to be counted among the group categorized as developed countries under the Paris Agreement,” says Frumerie.
If they were to be categorized as developed countries, their concern is that they would need to intensify their climate efforts and reduce emissions further.
“But I am optimistic that we can find a wording in the text that allows them to contribute more without feeling trapped.”
(November 11)
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