This article was automatically translated from HIBAPRESS, the Arabic version:
Hibapress
The 29th session of the Conference of the Parties to the United Nations Framework Convention (COP29), which was due to end this Friday in Baku, was extended, in the absence of a compromise between the parties on the new objective of financing for climate, announced the presidency of the COP.
After a sleepless night of debates and the publication of updated texts this afternoon, negotiators from several countries do not agree on the New Quantified Collective Target (NCQG) for climate financing.
The draft text on this new objective proposed the mobilization of 250 billion dollars per year by 2035 that developed countries will have to provide in the next decade to developing countries, which was criticized and rejected by several countries, including the Africa group.
“African countries expected a mobilization of 1,300 billion USD by 2030 and hoped for a provision and not a mobilization,” explained Rachid Tahiri, Moroccan negotiator.
This text “also lacks details on the portions of mitigation and adaptation as well as those intended for losses and damages,” added the head of the Climate Change and Green Economy Division at the Ministry of Energy Transition and Development. sustainable development, noting that recourse to the public and private sectors, as well as bilateral and multilateral cooperation, will create “difficulties in accounting for this financing”.
Furthermore, COP29, which began on November 11, allowed the adoption of several initiatives and declarations, notably on water, tourism and the reduction of methane from organic waste.
