Sat Nov 23 14:00:05 UTC 2024: ## Climate Talks at COP29 Deadlocked as Island Nations Walk Out

**Baku, Azerbaijan –** The UN Climate Change Conference (COP29) in Baku ended in a stalemate on Saturday, November 23rd, 2024, after small island developing states and African nations stormed out of negotiations in protest over insufficient climate finance commitments from wealthy nations.

A draft agreement, seen by AFP, proposed increasing annual climate finance from developed countries to $300 billion by 2035. While this represents a significant increase from the current $100 billion, and an upward revision from an earlier offer of $250 billion, it fell far short of the demands of vulnerable nations. The Alliance of Small Island States (AOSIS), led by Samoa, declared its withdrawal from the finance discussions, citing a lack of inclusivity and a perceived failure to address their concerns.

Sierra Leone’s climate minister called the draft a “suicide pact,” echoing the anger of many developing countries who feel the offered amount is inadequate to address the impacts of climate change, especially considering inflation. Developing countries had demanded at least $500 billion, a figure supported by UN experts who deemed even $300 billion insufficient. The proposed $300 billion is part of a larger $1.3 trillion annual target, however a significant portion is expected to come from private sources.

Disagreements also arose over the phasing out of fossil fuels. The EU pushed for an annual review of global efforts, facing opposition from Saudi Arabia and others. The US, under the newly elected President Trump, has displayed a less committed stance on climate action and international aid, adding to the complexities of the negotiations.

Despite last-minute attempts to bridge the divide, a final agreement remained elusive as the official deadline passed. Negotiators expressed mixed feelings, with some cautiously optimistic about the possibility of a deal, while others stated that “no deal is better than a bad deal.” The ongoing debate highlights the deep divisions and challenges in securing adequate and equitable climate finance for vulnerable nations. A coalition of over 300 activist groups criticized historic polluters for shirking their obligations. The conference concluded without a final agreement.

Read More