COP29 Weekend Brief: Tensions Rise Over Protests, Gender Talks, and Climate Finance

As COP29 continues in Baku, Azerbaijan, the climate conference has seen growing tensions over protests, stalled gender talks, and the global push for climate finance.

On Day 6, climate activists attempted to make their voices heard but were restricted by strict security rules. The protesters were told they couldn’t march through the streets and were limited to a rally inside the conference venue. Eduardo Giesen from the Global Campaign to Demand Climate Justice expressed frustration, saying, “It was like talking between ourselves.”

Discussions on integrating gender equality into climate policy have also stalled. The renewal of the Lima Work Programme, which aims to promote gender equality in climate action, has hit a deadlock due to disagreements over human rights and finance. Countries such as Iraq, Saudi Arabia, and Egypt are blocking key elements of the proposal, raising concerns that the talks could collapse or be delayed until next year.

The energy transition is another area of tension at COP29, with conflicting proposals on how to phase out fossil fuels. The United Arab Emirates (UAE) has called for a dialogue on the energy transition, while countries like China and Saudi Arabia are pushing for a stronger focus on climate finance instead. Fijian Deputy Prime Minister Biman Prasad emphasised the importance of finance, stating, “Finance is critical for a successful fossil fuel transition,” and called for a robust climate finance goal to support this shift.

There are also concerns about the lack of women in leadership roles at COP29. Only 8% of world leaders attending the conference are women, a significant drop from last year, raising questions about gender equality in both leadership and policy.

 

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Focus Back on Climate Finance

On Day 7, the focus shifted to climate finance, with UN climate chief Simon Stiell urging delegates to “find common ground” and finalise a new climate finance agreement. He stressed the urgency of reaching a deal to help developing countries fight climate change.

The European Union has called for wealthier countries like China and the Gulf states to contribute more to global climate finance. EU climate commissioner Wopke Hoekstra said, “With affluence comes responsibility,” but added that contributions could be voluntary, offering flexibility to countries resistant to formal commitments. He also acknowledged that private sector investment will be key: “There will never, ever be enough public money—from any source.”

 

COP29 has also seen criticism directed at certain countries. South Korea was awarded the “Fossil of the Day” for blocking a deal to end $41 billion in annual subsidies for oil and gas, with Climate Action Network (CAN) accusing the country of an “unconstructive negotiating position.” Finland also faced backlash for allegedly misreporting its climate finance contributions by counting market-based loans instead of actual funds, earning it a “dishonourable mention.”

 

COP29 Bulletin: Key Developments on Fossil Fuels, Emissions Targets, and Climate Finance

“The sound you hear is the ticking clock. We are in the final countdown to limit global temperature rise to 1.5 degrees Celsius. And time is not on our side,” said UN Secretary-General António Guterres at the COP29 Climate Action Summit in Baku today. Guterres called for urgent climate action, saying, “doubling down on fossil fuels is absurd.” He warned that achieving the goal of limiting global warming to 1.5°C requires countries to “slash global fossil fuel production and consumption by 30%” by 2030. 

“On climate finance, the world must pay up, or humanity will pay the price,” Guterres warned, adding that “climate finance is not charity; it’s an investment.”

In response, Azerbaijan’s President Ilham Aliyev defended his country’s oil and gas exports as a “gift of the god.” Speaking in Baku today, Aliyev criticised his international critics and denied Azerbaijan is a “petrostate,” despite the fact that oil and gas account for two-thirds of the country’s revenue. He said, “I understand that this topic is not very popular at a climate change conference, but, without that, my comments would not be complete.” Aliyev said American “fake news media” should look at their own country, the world’s biggest oil and gas producer. 

In another key announcement, UK Prime Minister Keir Starmer set a new emissions reduction target of 81% by 2035, building on the country’s climate leadership. “Starmer had failed to match strong words with a strong plan of action,” said Rosemary Harris of Oil Change International.

 

The developing nations’ group, the G77, made a bold demand for climate finance at the summit, insisting on $1.3 trillion per year to address mitigation, adaptation, and loss and damage. They rejected proposals to expand the contributor base to wealthier emerging economies like China and Saudi Arabia. Developing countries say they will not even negotiate on any text that has expanding this base as an option.

UN climate chief Simon Stiell stressed the importance of climate finance, calling it “global inflation insurance” to protect against the rising economic costs of climate change. He said, “Climate action is fast becoming an economy-killer,” pointing out that the impact of climate disasters is “carving up to 5% off GDP in many countries.”

 

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