The Swiss delegation says it is satisfied with the COP29 agreement, negotiated in Baku, on an increase in climate aid for the poorest states. Felix Wertli, head of the Swiss delegation, calls it a ‘success,’ he told Keystone-ATS by telephone.
The amount of 300 billion dollars (268 billion francs) per year, by 2035: developed countries committed Saturday and Sunday in Baku to more financing poor countries threatened by climate change, ultimately of a chaotic UN conference in Azerbaijan from which the developing world leaves furious.
Until now, industrialized countries mobilize a little more than 100 billion dollars (89 billion francs) each year for climate aid. The amount of 300 billion per year is an ‘achievable goal’ for Felix Wertli, also environmental ambassador.
The money should enable developing countries to pay more for climate protection and adapt to the consequences of global warming, such as more frequent droughts, storms and floods.
Find a fair contribution
Like all other states, Switzerland is not bound by the decision to pay a specific amount. The Federal Council will adopt a report in the first half of 2025, in which a ‘fair’ contribution from Switzerland will be defined, said Felix Wertli. He stressed that it was not just about paying more money directly, but also about finding investors.
In an interview with SRF before the agreement, Environment Minister Albert Rösti described the expectations of developing countries as excessive. ‘Switzerland is already meeting its obligations by paying 700 million francs per year. We are thus well above the current equitable base which would correspond for our country to around 450 million francs,’ he declared in an interview on Friday with Le Temps.
More donor countries
To find the money, the agreement provides for multilateral development banks to grant more credits and cancel the debts of poor countries. Public and bank money must also be used to trigger large-scale private investments, which are also considered climate finance.
During this COP29, Switzerland’s particular objective was to increase the number of donor countries. This goal has been achieved, said Felix Wertli. The agreement therefore plans to extend the requirements to rich emerging countries.
Greenhouse gases: disappointment
Regarding the reduction of greenhouse gas emissions, Felix Wertli was disappointed. The Swiss delegation would have liked the conference to deliver a stronger message on commitment to the climate objective of warming limited to 1.5 degrees, said the environment ambassador. During COP29, Federal Councilor Albert Rösti reaffirmed the climate objective of the Paris Agreement.
/ATS
