Delegates from developing nations reacted with anger at the deal agreed by delegates at Baku’s COP29 summit despite the cheers that greeted the announcement of the agreement at the summit’s end.
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00:00This brings us to the end of the conference. I sincerely thank you for all your hard work
00:10over many long hours.
00:12Applause for leadership, but equal acknowledgment for those unsatisfied with the final outcomes
00:18of COP29.
00:19And I'm saying that we do not accept this. You expect us to have ambitious NDCs. The
00:28NCQG was supposed to enable us to have realistic finance goals. $300 billion is unrealistic.
00:39Let us tell ourselves the truth. This is 3 a.m. and we are going to clap our hands and
00:44say this is what we're going to do? I don't think so.
00:52Thank you for your statement.
00:55As we struggle to deal with climate change, the outcome proposed in the paper will further
01:02affect our ability to adapt to climate change, greatly impact our NDC ambitions and its implementation,
01:11and create further challenges to our resilience, and above all, will severely impact growth.
01:20India does not accept the goal proposal in its present form.
01:26Applause
01:27There's been frustration that developed countries shared a quantum figure only two days before
01:33the talks were to end, not leaving enough room for further discussions. The new agreement
01:38provides $300 billion annually by 2035, triple of the previous target, which was seldom met
01:46and expires next year. It includes a goal of raising 1.3 trillion US dollars in climate
01:52finance annually by 2035. But this often means dollarized loans, which emerging economies
01:59struggle to pay back. That's another point of difference in these talks.
02:04Bilateral skirmishes did dampen spirits at COP. The Argentinian delegation pulled out
02:08after reportedly their president spoke with Donald Trump, and France's top climate official
02:14decided not to come to Baku after offense was taken to comments made by Azerbaijan's
02:19president.
02:21Observers have called out petro-states for blocking any strong language in the deal on
02:25the phasing out of fossil fuels. The Baku agreement also encourages developing countries
02:31to contribute to climate finance. It's a sign that China's already large and ongoing commitments
02:37towards green energy are being relied upon, and will have a larger global role to play
02:43as we brace for another hottest year on record.
02:46Radhika Bajaj, CGTN, Baku.