To finance the adaptation of developing countries to climate change, the countries of the North have committed to mobilizing an annual effort of 300 billion dollars. An amount considered insufficient by southern countries, such as India, who had initially set their expectations at 1,300 billion. China, like Singapore and the Gulf countries, will not participate in this financial effort. The Baku COP did not, in fact, take measures to broaden the circle of contributors, despite the enrichment of these nations since the signing of the Paris Agreements. Faced with the disappointment generated by this agreement, it is very likely that North-South divisions will become even more accentuated.
Although this COP has been described as a “transition COP”, it could well, in reality, be summed up as a “context COP”. This context is marked by several heavy shadows: that of Donald Trump and an international disengagement on the ecological cause, the growing debt of European countries, and finally, the geopolitical interests of developing countries, which have slowed down the adoption of more ambitious ecological measures.
It is also worth highlighting a major absence in the discussions: the exit from fossil fuels. This omission during the COP in Azerbaijan raises fears of a gradual removal of this issue from the climate agenda, potentially marking the end of Saudi Arabia’s (already limited) ecological commitment. Despite everything, a renewed interest in the carbon credit market seems to be emerging thanks to new regulation.
Finally, the presidency of Azerbaijan was criticized for its management of the debates and its status as an oil producer, which damaged the credibility of this COP. Overall, recent international climate summits are causing deep disenchantment, and expectations are now turning to the COP in Belém, Brazil, next year.
We talk about it with Laurence Tubianapresident of the European Climate Foundation and member of the High Council for Climate.
Belgium
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