Excerpt and Photo from news.mongabay.com
As the gavel came down on the 29th Conference of the Parties to the United Nations Framework Conference on Climate Change (COP29), shortly after 2 a.m. local time, a mixed reaction greeted the much-awaited deal. The agreement included a package of $300 billion to fund climate change initiatives in developing countries and work toward raising the sum to the needed $1.3 trillion yearly by 2035, among other outcomes.
While the host country and others in the plenary applauded the agreement, several stakeholders criticized it, arguing that it did not adequately address the current climate needs of developing countries or align with scientific recommendations.
As the COP opened, the head of the World Meteorological Organization, a U.N. entity responsible for monitoring weather, climate and water resources, told journalists in Baku that the planet is on a “red alert,” as 2024 has been the hottest year on record. Referencing a “State of the Climate” report prepared for the COP, Celeste Saulo said that greenhouse gas levels reached record highs in 2023, and ocean temperatures — a key factor in extreme weather — were the highest ever recorded.
In light of the growing severity of the climate crisis, particularly for developing countries, and the imminent expiry of a 2009 agreement to make $100 billion a year available to help vulnerable communities respond, delegates entered this round of climate negotiations hoping for a bold and ambitious agreement.