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Macro Trends
COP29: DOWN TO THE WIRE ON CLIMATE FINANCE
Copyright © 2024 Energy Intelligence Group All rights reserved. Unauthorized
access or electronic forwarding, even for internal use, is prohibited.
Published:
Thu, Nov 21, 2024
Authors
Dinakar Sethuraman, Baku
Maryelle Demongeot, Baku
Editor
Jill Junnola
* As COP29 enters its last couple of days, big gaps remain in the push to agree
on a New Collective Quantified Goal (NCQG) for climate finance — key to
developing countries' ability to up ambition on cutting emissions.
* A Nov. 21 draft text disputing whether developed nations had even met the
original, 2009 climate finance target of $100 billion per year marks a low
point — and underscores the challenges around scaling the target up.
* Discussion on the role of fossil fuels and emissions mitigation threatened to
be relegated to a footnote, as key fossil fuel producers and consumers square
off against the EU.
*
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Topics:
COP29, CO2 Emissions, Low-Carbon Policy, Policy and Regulation
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