For an FGV professor, the path to the next climate summit will be marked by requests from developing countries for greater contributions to climate finance
The new climate financing objective defined in the art Climate summit this year (COP-29), in Baku, Azerbaijan, which has sparked dissatisfaction among developing countries, is already putting pressure on COP-30, scheduled for Belém, Pará, next year.
This is the vision of Professor Guarany Osório, coordinator of the Environmental Policy and Economics Program at the Center for Sustainability Studies of the University of FGV EAESP. “The departure from COP-29 was this construction along the way, which put more pressure on COP-30, on the road from Baku to Brazil,” the expert tells Estadao.
This means that the next COP, under the leadership of Brazil, will have to work to fill the void left by the Baku summit.
The approved amount of $300 billion per year (about R$1.74 trillion) until 2035 for climate finance was well below the $1.3 trillion (R$7.5 trillion of R$) requested by developing countries. The decision was made in a plenary session in the early hours of this Sunday, Saturday 23rd, in Brazil.
Watch some excerpts from the interview:
What do you think of COP-29’s decision to approve $300 billion in climate finance for developing countries?
Expectations for this COP were complicated due to the turbulent geopolitical moment we are experiencing. And the $300 billion was all that could be achieved in this scenario. The value was far from the trillion expected for mitigation and adaptation financing.
What are the next steps?
The solution was this construction along the way, putting more pressure on the COP-30 in Brazil, from the Baku route to Brazil, to achieve a path to increase these contributions and the ambition in relation to the financial contribution, which must be led by the developed countries Countries.
Was there a general feeling of frustration? We have mixed feelings. Some applauded, but developing countries, especially those most vulnerable when it comes to climate issues, were left very frustrated.
Why?
Developing countries are not the cause of the problem, but they will have to pay much of the bill. Those who have caused most of the global warming have been the countries that have industrialized and used fossil fuels in the last few centuries. Now is the time to work on improving this funding ambition and all the funding rules, sources and how it will be used so that it reaches the end and for those who really need it.
Source: Terra
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