“Disappointing”: France Criticizes COP 29 Agreement

25th November 2024

1 minute read

"Disappointing": France Criticizes COP 29 Agreement

French Minister for Ecological Transition, Agnès Pannier-Runacher, expressed her regret over the agreement reached on Sunday at the 29th Conference of the Parties (COP 29) in Azerbaijan, describing it as “disappointing” and “not up to the challenges.”

In a statement relayed by Agence France-Presse, the minister acknowledged that, despite “considerable progress,” including tripling funding for poor countries threatened by climate change, “the text related to financing was adopted in a state of confusion and faced objections from several countries.”

Azerbaijan, the host of the upcoming conference session, outlined its plans and aspirations for COP 29, at a time when countries worldwide are struggling to establish a new financial target.

According to Reuters, the summit’s primary objective, scheduled for November, is to reach an agreement on a new annual financial target to be provided by wealthy countries to help poorer nations address climate change.

Developing countries have stated that they cannot enhance their emissions reduction goals without additional financial support to invest in achieving those objectives.

The COP 29 presidency identified over 12 additional initiatives aimed at boosting ambitions without requiring negotiations or consensus-building between parties, which could hinder progress.

These initiatives include the establishment of new funds, commitments, and declarations that governments can adopt. Among them is a fund for voluntary contributions from countries and fossil fuel-producing companies to public and private sector institutions working on climate issues, as well as grants that can be distributed to help developing countries deal with natural disasters caused by climate change.