POWER SHIFT AFRICA STATEMENT ON THE IMPASSE AT COP29 CLIMATE TALKS

Wednesday, November 20, 2024

Baku, Azerbaijan… With the ongoing COP29 climate talks reaching an impasse, Mohamed Adow, the director of climate and energy think tank Power Shift Africa, has shared his thoughts on the current state of the summit and what Parties must do to resolve the deadlock.

Statement

We are at a breaking point in the talks and this needs to be resolved over the next 48 hours. The necessity for developing countries is a climate finance goal that responds effectively to their evolving needs and priorities. This has two parts; a provision of public money, and a goal to mobilise additional private finance. The public money is central to supporting adaptation and loss and damage as well as for mobilising the additional amount.

Developing countries have asked for the publicly provided and the publicly mobilised funds to yield a total quantum goal of $1.3 trillion per year. Additionally, they have called for the portion of this which comes in the form of grant-based funding to be set at $600 billion per annum at least.

China is playing by the rulebook

With the expected retreat of the US, it is fair to expect that China will do more, albeit voluntarily. China is already contributing roughly the same amount as developed countries for climate finance, despite not being required to do so by the Paris Agreement.

The rulebook requires rich countries to provide climate finance. Developing countries in a position to do so should, of course, chip in too. But their contribution should only be the cherry on top of the cake. Rich countries are attempting to get China to start making the sponge as well.

China is playing by the agreed rulebook, while the US is tearing it apart and the rest of the developed world is just standing by.

Rich world must act as a US firewall

The EU and UK, along with Australia, Japan and Canada, need to step up and guard the multilateral process against the irresponsible actions of the US. To deliver a sustainable resilient planet, all world powers must do what is needed.

If one part is playing by the rulebook we cannot allow a minority, who bear the bulk of the historical responsibility, to derail progress. The world’s richest countries must act as a firewall against the US’s reluctance.

Technology transfer can help pay the climate debt

To ask the poor to whom the rich owe a climate debt to further indebt themselves to solve a crisis they created is simply unjust. 

The forgotten part of the finance equation is technology transfer. Climate finance needs to facilitate the necessary economic transformation in the Global South for each country to develop in a climate-compatible way.

One way to do that is to extend clean technology to them so they can contribute to the global effort of cutting emissions. However, much of this crucial technology remains out of reach because the rich world holds the patents and the investment capital is too burdensome.

It is crazy for rich countries to doubly penalise poor countries by getting them to pay for clean technology at the market rate when the reason they need it in the first place is to help tackle the climate crisis they did nothing to cause.

Developing world unity

This is a finance ‘‘COP’’ where we are dealing with climate crimes. But those responsible are trying to wriggle their way out. It is important for developing countries to maintain solidarity and demand in unison that the global north polluters honour their responsibilities.

Developing countries should not fall for the divide-and-rule tactic which wealthy nations have traditionally used to get away from their obligations.

Note to Editors/Reporters

To request an interview with Mohamed, please reach out to James Kahongeh.

Email: Jkahongeh@powershiftafrica.org

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