As deadline looms, nations, blocs reject draft negotiating text

Highlights:

• The COP29 meeting in Baku, Azerbaijan, faced a significant impasse as most countries and blocs rejected the latest draft negotiating text. Key disagreements spanned issues such as climate finance, mitigation, adaptation, and follow-ups on decisions from the 2023 Global Stock Take (GST) in Dubai.

Key Issues

1. Finance as the Central Point of Dispute:

• Developing countries raised strong objections to the lack of clarity and provisions in the draft concerning climate finance.
• The focus of the meeting was expected to be on the New Cumulative Quantitative Goal (NCQG) for climate finance, but progress stalled due to diverging priorities.

2. GST Follow-Up: Major Sticking Point:

• The GST exercise, a five-yearly review mandated by the 2015 Paris Agreement, provides insights for climate action adjustments.
• India and Saudi Arabia opposed follow-up actions on a specific GST paragraph that emphasized:
  • Transitioning away from fossil fuels.
  • Tripling renewable energy by 2030.
  • Reducing emissions of non-CO2 gases like methane.
  • Phasing down coal.

3. Sectoral Disagreements

• India's Concerns:
  • Methane emission cuts would adversely affect its agriculture sector.
  • India maintained that GST outcomes should merely inform parties, not enforce binding commitments.
• Saudi Arabia and Oil-Producing Nations:
  • Opposed text targeting specific sectors, particularly fossil fuels, citing economic dependencies.

Focus on Mitigation vs. Finance:

• Developing countries criticized the shift in emphasis from finance to mitigation.
• Indian negotiator Leena Nandan emphasized the principle of “common but differentiated responsibilities” and equity in addressing climate action.
• Concerns were raised that mitigation ambitions were being prioritized without addressing the enablers, such as adequate financial provisions.

Prelims Takeaways

• Global Stock Take (GST)
• NCQG (New Cumulative Quantitative Goal on climate finance)