MEDIA ADVISORY
Expectations from Baku Finance COP
2024 may have been marked by devastating wildfires, floods, hurricanes, heatwaves and preventable climate and geopolitical disasters, but that has had no bearing upon COP in Baku as Global North governments continue to underplay the threat from extreme weather and climate change related events and have turned up at this ‘Finance COP’ without any public Climate Finance to offer. The fate of the new collective quantified goal (NCQG) on climate finance hangs in the balance, as the Baku climate talks enter the final stage of negotiations.
While developing countries are calling for at least USD1.3 trillion per year, from the floor of USD 100 billion, whether there is political will from the remaining developed countries to provide a significant quantum in public resources will be known at midnight when we receive the NCQG text. With Arab Group, the African Group (AGN) and the Like-Minded Developing Countries (LMDC) along with the G77 and China calling for more balanced text that includes key propositions on resilience building, adaptation concerns and Global justice while the Northern governments try to pull off ‘A Great Escape’ from historic and collective financial responsibility, it is unclear how the negotiations can get past the current impasse.
The developed world, through the 3 decades of COP negotiations, has tried to run further and further away on taking responsibility for destroying the Global South’s land, resources and the climate. With each COP, they create pull back further and further from climate finance obfuscating the core principles enshrined in the Paris Agreement on collective but differentiated responsibility and their legal obligation to provide resources (not entrenched in Global North profit making), particularly, finance for a Just and Equitable transition and adaptation including loss and damage.
Join Diego Pacheco (Plurinational State of Bolivia), Ambassador Mohamed Nasr (Egypt), Prof. Fadhel Kaboub (Power Shift Africa) and Meena Raman from the Third World Network as they deep dive into the state of play after one week and expectations from the Baki Finance COP.
When: November 19th, Tuesday | 18:30-21:00 hs (Baku)
Where: Side Event 1
Speakers:
- Diego Pacheco (Plurinational State of Bolivia)
- Ambassador Mohamed Nasr (Egypt)
- Prof. Fadhel Kaboub (Power Shift Africa)
- Moderated by Meena Raman (Third World Network)
Contact Us
DCJ: Esthappen, +919820918910, [email protected]
Julian, +306941437285, [email protected]