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COP29: Hope or Disappointment for LDCs?

The UN Climate Change Conference (COP29) closed on Sunday. The outcomes of COP29 for Least Developed Countries (LDCs) were a mix of progress and disappointment. Chair of the Least Developed Countries Group at UN Climate Change negotiations, Mr. Evans Njewa, expressed his disappointment: “We exit Baku with pride for our resilience & pain for the vulnerable communities ignored. The fight doesn’t stop here. Read our final press advisory from Baku.”

Pic: LDCs Chair Twitter (X)

Disappointments:

  • Insufficient Climate Finance:

While the increased finance is a step forward, many LDCs argue that it is still insufficient to address their urgent needs. They had called for a significantly higher figure of $1.3 trillion per year.

  • Lack of specific targets for LDCs:

The agreement did not include specific targets for climate finance for LDCs, leaving them uncertain about the level of support they can expect.

  • Concerns Over Transparency and Accountability:

There are concerns that the transparency and accountability mechanisms for climate finance are not robust enough, which could hinder the effective use of funds.

Though there are some positive outcomes from Baku.

Positive Outcomes:

  • Increased Climate Finance:

The agreement to triple public finance for developing countries to $300 billion annually by 2035 is a significant step. This could potentially provide much-needed resources for LDCs to adapt to climate change and implement low-carbon development strategies.

  • Loss and Damage Fund Operationalization:

The operationalization of the Loss and Damage Fund is a positive development for LDCs, which are particularly vulnerable to climate-induced losses and damages.

Director of energy and climate think tank “Power Shift Africa” and Climate Justice Advocate, Mr. Mohamed Adow, said, “Sorry, poor countries were held hostage in Baku and not a single dollar of real climate finance has been provided. All they got was a check for 2035 in the mail. Being forced to accept a bad deal for the sake of’multilateralism’ isn’t something to gloat about.”

While COP29 made some progress, it fell short of the expectations of many LDCs. They will continue to advocate for increased climate finance, technology transfer, and capacity building to address the climate crisis and build resilience.

COP29: Hope or Disappointment for LDCs?

Outcomes of the COP29