Displaying items by tag: unsatisfactory conclusion

Developed nations at the COP29 summit in Baku committed to mobilising at least $300 billion annually for developing countries by 2035 to address climate change. However, this figure fell far short of the $1.3 trillion per year which had been demanded, leaving many deeply dissatisfied. The agreed amount includes contributions from private investment, but critics argue it lacks ambition and clarity. Tensions flared during chaotic negotiations, with India and Nigeria accusing the presidency of forcing the deal without proper consensus. Decisions on transitioning away from fossil fuels, highlighted in last year’s ‘global stocktake’, were deferred to COP30, but a milestone was achieved with the completion of Article 6 on carbon markets, finalising the Paris Agreement framework nearly a decade after its inception. The summit's outcomes were overshadowed by Donald Trump’s reelection and his pledge to withdraw the USA from the Paris Agreement. Also, host Azerbaijan, which sources two-thirds of its revenue from fossil fuels, faced accusations of conflict of interest and malpractice during the conference. For in-depth analysis of what happened, see the weblink.