By: Lloyd Mahachi
In a historic move, richer countries have pledged a record $300 billion to help poorer nations prepare for and prevent climate change. This landmark deal was reached at the UN climate summit COP29 in Azerbaijan, after marathon talks that ran 33 hours late.
The head of the UN climate body, Simon Stiell, hailed the agreement as a major breakthrough, saying “it’s been a difficult journey, but we’ve delivered a deal.” The deal is a significant step forward in the global effort to address climate change, and it demonstrates the commitment of richer countries to supporting poorer nations in their efforts to mitigate the impacts of climate change.
The talks were fraught with tension, with developing nations and countries vulnerable to climate change dramatically walking out on Saturday afternoon. They felt that the deal did not go far enough in addressing their concerns.
The chair of the Alliance of Small Island States, Cedric Schuster, passionately expressed his frustration, saying “I am not exaggerating when I say our islands are sinking! How can you expect us to go back to the women, men, and children of our countries with a poor deal?” The walkout was a clear indication of the deep-seated concerns and frustrations of developing nations and countries vulnerable to climate change.
Despite the initial walkout, nations finally passed the deal after some changes to the agreement. The deal includes a commitment to tripling the money that goes towards preparing countries for climate change.
Historically, only 40% of the funding available for climate change has gone towards this. The newly-promised money is expected to come from government grants and the private sector, and should help countries move away from fossil fuel power to using renewable energy. This shift towards renewable energy is critical in reducing greenhouse gas emissions and mitigating the impacts of climate change.
The $300 billion pledge is a recognition that poorer nations bear a disproportionate burden from climate change, but also have historically contributed the least to the climate crisis. As well as this promise, nations agreed that $1.3 trillion is needed by 2035 to also help prevent climate change.
This year is expected to be the warmest on record, with intense heatwaves and deadly storms highlighting the urgent need for action. The impacts of climate change are far-reaching and devastating, from rising sea levels and more frequent natural disasters to droughts and heatwaves.
While the deal has been hailed as a major breakthrough, some nations have expressed frustration that it does not go far enough. India, for example, felt that the sum promised was too small. Other nations, including Switzerland, Maldives, Canada, and Australia, protested that the language about reducing global use of fossil fuels was too weak.
Despite these concerns, the deal marks a significant step forward in the global effort to address climate change. It demonstrates the commitment of richer countries to supporting poorer nations and acknowledges the urgent need for action to mitigate the impacts of climate change.
The deal is also a recognition of the critical role that poorer nations play in the global effort to address climate change. These nations are often the most vulnerable to the impacts of climate change, and they require significant support and funding to mitigate these impacts. The $300 billion pledge is a significant step forward in providing this support and funding. It is a demonstration of the commitment of richer countries to supporting poorer nations and acknowledging the urgent need for action to mitigate the impacts of climate change.
While there are still concerns and frustrations among some nations, the deal marks a major breakthrough in the global effort to address climate change.
Editor: Josephine Mahachi
