The EU and some developed countries argue that such a large sum can only be achieved if “wealthier high-emitting” developing nations, like China and Gulf states, also contribute….reports Asian Lite News
The European Union has urged “wealthier high-emitting” developing nations to voluntarily contribute to climate finance, signaling a shift from its earlier position that had stalled progress in the UN climate talks.
Securing a new climate finance package to help developing countries reduce emissions and adapt to climate change is the top priority of this year’s UN climate talks. Developing nations need at least $1.3 trillion annually to tackle worsening climate impacts.
The EU and some developed countries argue that such a large sum can only be achieved if “wealthier high-emitting” developing nations, like China and Gulf states, also contribute. However, this proposal has been a major sticking point, as many developing countries view it as an attempt to shift responsibility away from those who historically benefited from industrialization.
European Commissioner for Climate Action, Wopke Hoekstra, suggested a compromise on Monday, proposing voluntary contributions from these nations without changing the traditional classification of developed and developing countries.
We will be welcoming to those countries who do make such a step because, in the end, this is not about dogmatism. This is about solving one of the largest problems humanity is facing, Hoekstra said. He said that affluence brings responsibility. Others also have a responsibility to contribute based on their emissions and economic growth, he added.
COP29 President Mukhtar Babayev said countries still have significant disagreements on the structure, funding amount, and contributors to the new climate finance goal. He urged ministers arriving this week to act decisively. Politicians must engage immediately and constructively, he said.
Babayev also called for leadership from G20 heads of government, meeting this week in Rio de Janeiro, Brazil, to drive progress. Their commitment is essential. I urge them to send a positive signal and provide a clear mandate for action, he said.
UN Climate Chief Simon Stiell echoed these concerns, urging countries to resolve less contentious issues early to focus on the toughest topics later. Ministers need to roll up their sleeves and dive into the difficult discussions, he said.
While highlighting some progress in the conference’s first week, Stiell described the situation as a mixed picture heading into the crucial second week.
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