COP29: what is the nature of the agreement announced tonight and what impact on the planet ?

An agreement was reached ; at the end of COP29 in Baku, Azerbaijan. But he is already criticized for his lack of ambition.

The 29th United Nations Climate Change Conference has ended, and an agreement has been reached… not without pain. Discussions continued during the night from Saturday 23 to Sunday 24 November, after two weeks of summit in Baku, Azerbaijan. And this agreement is already being contested by some developing countries.

What are the terms of the agreement, adopted at around 3 a.m. ? Developed countries have pledged to provide more funding to poor countries threatened by climate change. They will have to increase their loans and grants to developing countries by $100 billion today, and “at least $300 billion” annually by 2035. This concerns the European countries, the United States, Canada, Australia, Japan and New Zealand. And already, a disappointment: the Western countries wanted the list to be expanded to China, Singapore and the Gulf countries. For China, this was out of the question.

“The amount proposed is lamentably low”

&What will these funds be used for ? The objective for beneficiary countries is to develop their economies while financing investment in low-carbon energy. Enough to avoid resorting to oil and coal. But this financing promised for 2035 "is too little, too late and too ambiguous in its implementation", denounced Kényan Ali Mohamed, who spoke on behalf of the African continent, quoted by Franceinfo. This agreement lacks ambition, agrees his counterpart from Malawi, Evans Njewa, representing the 45 poorest countries on the planet. And for the Indian delegate, Chandni Raina, “The amount proposed is lamentably low. It is derisory.” The poorest countries were asking for double or more: they were even hoping for $1 trillion.

A half-hearted agreement, therefore, also marked by the absence of an important concept. In 2023, during COP28 in Dubai, the agreement included a call to “make a just, orderly and equitable transition towards an exit from fossil fuels in energy systems”. A concept that does not appear explicitly in the new text. Azerbaijan, where took place the last summit was criticized for its proximity to oil-producing countries, notably by Germany.

Finally, in the text, there is no annual monitoring system for the transition efforts away from fossil fuels (i.e. coal, oil, gas), hoped for by the Europeans, reports Libération. However, 2024 will likely be the hottest year ever measured. And the use of fossil fuels continues to increase worldwide, notes Franceinfo.

Reactions are also mixed from Western countries. French Minister for Ecological Transition Agnès Pannier-Runacher shares the complaints, and considers the agreement “disappointing”, “not up to the challenges”. While Joe Biden, American president, has welcomed the “significant step” allowed by this agreement in the fight against global warming. Same story from the United Kingdom: “It is not everything we or others wanted but it is a step forward for all of us.”