LFrance is not satisfied with the COP29 negotiations and she says so. While the Azerbaijani presidency of COP29 published this Sunday, November 24 the draft final agreement on climate financeFrance, through the Minister of Ecological Transition, Agnès Pannier-Runacher, denounced a “disappointing” agreement which is not “meet the challenges”.
While several advances, including the tripling of funding for poor countries threatened by climate change, were adopted, the Baku conference was marked “by real disorganization and a lack of leadership from the presidency”, estimated the member of the executive at Agence France-Presse. “ The text on finance was adopted in a climate of confusion and contested by several countries,” recalled Agnès Pannier-Runacher.
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The 29e United Nations conference on climate change adopted several decisions, the main one of which set rich countries the obligation to finance at least 300 billion dollars per year by 2035 to support the energy transition and adaptation to climate change developing countries. The commitment, which is added to that on tripling renewable energy by 2030 and tripling nuclear capacity by 2050 taken in Dubai last yearis added to an overall objective of climate financing, all sources combined, of 1,300 billion dollars necessary to accelerate the transition to a world without fossil energy, Agnès Pannier-Runacher was keen to point out.
ALSO READ COP still you interest meWhileshe had canceled her trip to Baku against a backdrop of diplomatic tensions between France and Azerbaijanthe minister noted several “advances” including a “historic agreement after nine years of negotiations” which could allow “real development of international carbon credit markets”. “On the other hand, on mitigation, no text has been adopted, which sends a very negative message and marks a real failure for this COP29,” she denounced at the same time, adding that “our hopes are are now moving towards COP30 which will be chaired by Brazil. Strongly committed to solidarity with developing countries with 7.2 billion euros in climate financing in 2023, including more than 2.8 billion for adaptation, France alone today represents “10% of the global finance on adaptation,” concluded the minister.
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