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Friday, November 22, 2024

COP29 faces hurdles as countries debate climate finance commitments

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Dr. Michael Drake, President | Official website

Dr. Michael Drake, President | Official website

The United Nations' annual climate conference, COP29, is nearing its conclusion with ongoing discussions on a climate finance plan. The aim is to collect funds from wealthy nations to help developing countries mitigate the impacts of climate change. However, reaching a consensus has been challenging due to debates over which countries should contribute and who should benefit.

Cara Horowitz, an environmental law expert from UCLA who recently attended COP29, described the difficulties negotiators face. She stated, "Countries are motivated to ensure that the finance program is structured to their benefit." Key issues include determining the balance between grants and loans, whether private funding should be included in financial pledges, and which nations should pay into or receive from the fund.

The U.S. delegation's position has been complicated by Donald Trump's election victory and his promise to withdraw from the Paris Agreement. Horowitz noted that this situation diminishes U.S. credibility at the conference: "With Trump coming in having promised to (again) pull the U.S. out of the Paris Agreement... That hurts."

Despite federal challenges, states like California continue to push for climate progress independently. Horowitz explained that these regions possess significant legal authority over areas crucial for climate policy: "States and localities have a lot of legal authority over tremendously important areas of climate policy."

COP29's host nation also presents challenges for negotiations. Azerbaijani leader Ilham Aliyev referred to fossil fuels as "a gift from God" during his opening remarks, complicating efforts for unbiased mediation in resolving disputes.

Nevertheless, Horowitz remains optimistic about collaborative efforts among global experts at COP29: "I continue to find hope in collaborations among the thousands of other climate experts gathered at the COP." These gatherings focus on grassroots progress beyond official negotiations.

Horowitz serves as executive director of UCLA School of Law's Emmett Institute on Climate Change and regularly participates in UN climate conferences.

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