Will COP29 Deliver on Transparency for Climate Financing?

Belize is getting ready for COP29, the United Nations Climate Change Conference happening in Azerbaijan this November. Building on COP28, this conference is another key opportunity for countries to be held accountable for their environmental actions. 

Minister of Sustainable Development and Climate Change, Orlando Habet, noted the importance of Belize’s involvement in the decision-making process to protect the country’s interests.

Minister Habet said that while there was agreement on transitioning from fossil fuels, the lack of binding commitments raises concerns. He pointed out that the “Loss and Damage” fund has only received about $800 million in financial support, which is far too low.

For COP29, Minister Habet will be leading in finance discussion and strengthening the region’s negotiating power as he represents the Caribbean Community (CARICOM). He said his focus on finance and transparency, stating, “The adaptation fund, they even informed us that that $100 billion that we had been asking for was released in 2022. There’s no transparency on that part. So for COP 29, what we’re asking is more transparency on one, the acquisition of the funding, the facilitation of that funding, and how it is being distributed.